Wednesday, May 6, 2015

Crude Oil buying opportunity

Crude Oil buying opportunity
 This is the fifth buy signal I have had since the daily chart changed to up at the end of March. Oil has also been trading above the nine period moving average I consider that a super trend. Support is at 5850 and resistance is at 6140 on the June contract. The weekly chart had a changed to the upside last week and has consistently been making higher lows since the bottom. So long as 5607 holds this trend should continue. The weekly chart suggests that crude should continue this trend for at least several more weeks. I have resistance at 6050 ,6500 and 6900. Although the trend is still down on the monthly chart my research has a King's Cross indicator counter trend buy signal that should eventually get crude to $80. Only a new contract low would negate this.
Bullish Highlights
  • 1. Buy signals on the daily chart
  • 2. Daily chart has been super trending
  • 3. Weekly chart continues to trend up and trend has changed to up
  • 4. Monthly chart has King's Cross buy signal
  • 5. Global quantitative easing keeping demand up
  • 6. Reduced shall production
  • 7. Conflict in Yemen
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Top 3 Stocks in This Hot Defense Segment: AeroVironment (Nasdaq: AVAV), Raytheon (NYSE: RTN), Boeing (NYSE: BA)

As the “Unmanned Systems 2015″ trade show gets underway in Atlanta this week, it’s worth noting that a timely growth-stock opportunity lies in the unmanned aerial vehicle (UAV) segment.
With more than 8,000 attendees from around the world, Unmanned Systems is the largest international conference and trade show for the UAV industry. The show will underscore how the UAV is revolutionizing the projection of power around the world.  (more)

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Energy Stocks Hit 6-Month High as Valuations Spike To 1999 Peaks

Hope springs eternal. The S&P Energy sector is surging once again this morning as crude prices top $60 with stocks now back at Nov 2014 levels (up 12% in the last month). What most do not realize as they blindly follow the momentum, excited that 'something is working' is that the valuations - based on analysts' forward earnings projections - have only been marginally higher than this once... right at the peak in 1999. The S&P Energy sector trades at a 28x Fwd P/E!

Everything is awesome......


And Expensive...



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Biotech Stocks to Watch in May 2015: Amgen Inc. (NASDAQ/AMGN), Biogen Inc. (NASDAQ/BIIB)

The best biotech stocks to watch for in May 2015 are businesses that dominate their respective market, command a diverse drug pipeline, and have lots of profits to show for it.
Profitability is crucial given that the NASDAQ Biotechnology Index continues to climb higher, gaining 12% in 2015 and adding to the 36% increase in 2014. Biotech stocks with extended valuations will be the first to sell off when euphoria wears off and investor expectations regarding future profits normalize. So, let’s focus on the best biotech stocks—ones with strong earnings and reasonable valuations. (more)

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Radian Group Inc (NYSE: RDN)

Radian Group Inc., through its subsidiaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance, and Mortgage and Real Estate Services (MRES). The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance that protects mortgage lenders from all or a portion of default-related losses on residential mortgage loans made to home buyers, as well as facilitates the sale of these mortgage loans in the secondary mortgage market. The MRES segment provides outsourced services, information-based analytics, and specialty consulting services for buyers and sellers of, and investors in, mortgage- and real estate-related loans and securities, and other debt instruments.
Take a look at the 1-year chart of Radian (NYSE: RDN) below with added notations:

RDN was on a nice trend higher from August until it's December peak, but then the stock started a sideways move. In addition, twice over the last 5 months the stock had hit a level of resistance at $17.50 (green). That resistance level was also a 52-week high resistance. Back in mid-April RDN finally broke to a new high, and now that same $17.50 level provided support for the stock during Friday's pullback.

The Tale of the Tape: RDN broke out to a new 52-week high. A long trade could be made near $17.50 with a stop placed below that level. A break back below $17.50 would negate the forecast for a continued move higher.
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Tuesday, May 5, 2015

Yamana Gold Inc. (TSX:YRI)(NYSE:AUY): Is Yamana Gold Inc. the Top Stock Under $5 to Buy Today?

Yamana Gold Inc. (TSX:YRI)(NYSE:AUY), one of world’s largest producers of gold, announced first-quarter earnings results after the market closed on April 28, and its stock has responded by falling about 5% in the trading sessions since. Let’s break down the quarterly results to determine if we should consider using this weakness as a long-term buying opportunity, or as a warning sign.
A quarter of mixed growth
Here’s a breakdown of Yamana’s fourth-quarter earnings results compared with its results in the same quarter a year ago. All figures are in U.S. dollars.  (more)

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Best Biotech Stocks to Buy Now : Biogen Inc. (Nasdaq: BIIB)

The biotech market sold off last week, with the Nasdaq Biotechnology Index dropping 4.5% since April 23. That means some of the best biotech stocks have dipped as well.
Now, investors are wondering if they should take their money to the sideline. But Money Morning's Bioscience Investing Specialist Ernie Tremblay says this type of move is normal for the biotech market.
"The sell-off we're seeing now seems to happen every year at about this time, like clockwork," Tremblay said on March 27. "There are always things going on in the news that seem to explain the drop, but the meta-picture is simply this: The market breathes in, and the market breathes out."  (more)

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Crude Bulls Running Out of Steam

Crude bulls posted a new yearly high on Friday as WTI rocketed higher the previous 2 sessions after Wednesday’s more bullish than expected DOE inventory release.  More bullish?? Or less bearish might be more like it.  Since making multi-year lows on March 18, WTI crude has seen a healthy 42% rebound.  Brent crude has rallied nearly 49% since putting in the low for the year on January 13.  And we all know gasoline prices have been going up at the pump. (more)

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These Stocks Could Double From Here... or Fall in Half

 Chinese stocks ripped higher again this week...
 
And True Wealth subscribers are making even larger profits. Editor Steve Sjuggerud has been bullish on China since September.
 
For a good summary of his bullish thesis, you can read this DailyWealth essay. In short, China was cheap and the government was easing to boost the stock market and encouraging individuals to participate.
 
 The Shanghai Stock Exchange hit a fresh seven-year high earlier this week on speculation that the Chinese government would begin consolidating its state-owned enterprises – like oil giants PetroChina and China Petroleum & Chemical Corp ("Sinopec"), whose shares both rose 10%. (The Shanghai Stock Exchange limits stocks from rising or falling more than 10% in a single session.)  (more)

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Guess?, Inc. (NYSE: GES)

Guess?, Inc. designs, markets, distributes, and licenses lifestyle collections of contemporary apparel and accessories for men, women, and children that reflect the American lifestyle and European fashion sensibilities. It operates through North American Retail, Europe, Asia, North American Wholesale, and Licensing segments. The company's clothing collection includes jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, knitwear, and intimate apparel. It also grants licenses to manufacture and distribute various products that complement its apparel lines, such as eyewear, watches, handbags, footwear, kid's and infant's apparel, outerwear, swimwear, fragrance, jewelry, and other fashion accessories. The company markets its products under the brands of GUESS, GUESS?, GUESS U.S.A., GUESS Jeans, GUESS? and Triangle Design, MARCIANO, Question Mark and Triangle Design, a stylized G and a stylized M, GUESS Kids, Baby GUESS, YES, G by GUESS, GUESS by MARCIANO.

Take a look at the 1-year chart of Guess (NYSE: GES) below with my added notations:
GES has formed a clear level of support at $18 (green), which was also a previous resistance and support in the past. In addition, the stock has been declining against a down trending resistance level (red) over the last five months. These two levels combined have GES stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those levels.

The Tale of the Tape: GES has a down trending resistance and a $18 support level to watch. A long trade could be made on a breakout through the resistance or on a pullback to $18. A break below the $18 support would be an opportunity to enter a short trade.
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Monday, May 4, 2015

Commodity collapse leads to rare opportunity

Commodities have had a rough go of it the past 4-years, declining almost 40%. The above charts look at the Thompson Reuters Commodity Index since the 1980’s.
The left chart is based upon “monthly closing prices,” reflecting that a neckline support test is at hand at (1).
The right chart is the same chart, based upon Hi/Lo/Closing prices. A dual test of support is in play at (1) in this chart.
Both charts reflect that  long-term tests of support are in play and support is support until broken. Often support like this is a place where at least a counter trend rally takes place.
US Dollar weakness and Commodity strength might surprise a few and could be a sign of some macro global strength could be at hand.
Joe Friday just the facts…. Commodities are testing strong support lines. What they do going forward could tell us a good deal about global growth or lack of going forward. A break of this support could signal growth concerns.
Bottom line-A rare an important price point for commodities is in play right now!

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Stocks To Watch: JCP, TASR, DGLY, XGTI, ZIOP, HTZ

( click to enlarge )

J C Penney Company Inc (NYSE:JCP) On a technical basis, the daily chart shows higher lows and higher highs, which is a positive trend suggesting bulls are still in control. The next high should be another higher high around the $10 level. Immediate resistance remains at 8.75, with a break above it required to confirm another leg higher. Weekly call options were hot on Friday. Additionally, this stock has been showing signs of accumulation over past couple weeks. Keep it in your watchlist for next week.

( click to enlarge )

Shares of TASER International, Inc. (NASDAQ:TASR) made a new 52 week high on Friday closing at $32.37 on heavy volume. The stock hit a high of $33.23, which is now resistance for Monday’s continuation move. If the stock can break through resistance, we should see another upside move. The momentum indicators are all in bullish territory.

( click to enlarge )

Digital Ally, Inc.(NASDAQ:DGLY) showed buying strength all day on Friday. Price is slowly recovering. The 16-16.27 area is a critical resistance region that can determine overall bias for the stock in medium-term. Keep an eye on these levels. So far, momentum indicators are in favor of an upward price movement: The MACD has generated a buy signal and is currently above the 0 line and RSI is above its 50% level. On watch.

( click to enlarge )

xG Technology Inc (NASDAQ:XGTI) is approaching a key resistance level at 40c, a break above that resistance level would lead to an initial target in the 58-60c area, its January high and then to levels not seen since December 2014. Technical chart shows bullish sign with RSI above 50% levels and MACD on top of signal line.



( click to enlarge )

ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) surged over 8% on decent volume, what looks like the start of a potential bounce. The stock is still oversold as evidenced by the stochastics and RSI, so there is still some chance that the stock may test the $11 levels in coming days. Stop loss must be placed at $8.6



( click to enlarge )

Hertz Global Holdings Inc (NYSE:HTZ) had a solid breakout Friday on almost double its average volume in the midst of strong call option activity. The stock hit a high of $22.41 which is now resistance for Monday’s follow through move. Daily technical indicators are looking bullish. The MACD is negative but is rising above its signal line and Slow stochastic and RSI have re-entered their respective Bullish zones.

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Bonds (TLT) Generate Trend Model Neutral Signal on Breakaway Gap

Yesterday an Intermediate-Term Trend Model Neutral signal was generated on TLT, the ETF we use to calculate our official Trend Model signal. This combined with a breakdown from the congestion zone and a what appears to be a breakaway gap tells us there is likely more downside to come for bonds.
Let's look at the six-month bar chart for TLT. We can see that the Trend Model Neutral signal generated because the 20-EMA crossed below the 50-EMA (seen best in the thumbnail). It was a Neutral signal and not a SELL signal because technically we consider TLT to be a "bull market" because the 50-EMA is above the 200-EMA. A Neutral signal implies that you go into cash or fully hedge. A SELL signal on the other hand would be a possible shorting opportunity. On the TLT chart there are also a few gaps that I'd like to point out.  (more)

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US Weekly Economic Calendar

time (et) report period ACTUAL CONSENSUS
forecast
previous
MONDAY, MAY 4
10 am Factory orders March   2.4% 0.2%
TUESDAY,  MAY 5
8:30 am Trade deficit March   -$43.0 bln -$35.4 bln
10 am ISM nonmanufacturing April
56.5% 56.5%
WEDNESDAY, MAY 6
8:15 am ADP employment April   -- 189,000
8:30 am Productivity Q1   -1.4% -2.2%
8:30 am Unit labor costs Q1   4.0% 4.1%
THURSDAY, MAY 7
8:30 am Weekly jobless claims May 2
277,000 262,000
3 pm Consumer credit March
-- $16 bln
FRIDAY, MAY 8
8:30 am Nonfarm payrolls April
220,000 126,000
8:30 am Unemployment rate April   5.4% 5.5%
8:30 am Average hourly earnings April   0.2% 0.3%
10 am Wholesale inventories March   -- 0.3%
 
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Saturday, May 2, 2015

Crude Bounces After Oil Rig Count Decline Slows

Oil prices have tumbled this morning ahead of the Baker Hughes rig count data but algos bounced them after the pace of oil rig count decline slowed further. For an unprecedented 21st week in a row, the US total rig count declined this week (down 27 to 905).  Oil rigs fell 24 to 679 for the fastest total collapse in rig counts in history (down over 57% in 21 weeks). This is afaster pace of decline than the previous week for total rigs but a slower pace of decline for oil rigs.
  • *U.S. OIL RIG COUNT DOWN 24 TO 679, BAKER HUGHES SAYS
  • *U.S. TOTAL RIG COUNTDOWN 27 TO 905 , BAKER HUGHES SAYS
If lagged oil prices are any historical guide then the decline is due to stall very soon…

Oil Rig count decline is slowing…
READ MORE
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Biotech iShares (NASDAQ:IBB): Investors Are Jumping off the Biotech Bandwagon, Here’s What to Do Now

by Greg Guenthner
Daily Reckoning

Wait– is that the sound of that famous biotech bubble finally popping?
Can’t say, dude. But biotechs are definitely losing steam these days, and the worst could be yet to come. Today, I’ll show you exactly what to do about it…
We took profits on our big biotech trade earlier this month, booking double-digit gains on Biotech iShares (NASDAQ:IBB). IBB thundered nearly 21% higher year-to-date while the S&P 500 was only up about 2%.
But we didn’t pick up our marbles and go home because we thought the biotech boom was out of fuel. We just thought our trade was getting a little ahead of itself, that it might need a breather before heading north again. Big difference.
Continue Reading at DailyReckoning.com…
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Here’s Why Oil is Rallying to Its Highest Level This Year

by Myra P. Saefong
Market Watch

U.S. crude supplies have stood at a record high since January, with little hope for a reprieve from the 46% price drop the market suffered in 2014.
Crude supplies remain at a record, but the outlook for the market is starting to improve as the number of U.S. rigs actively drilling for oil continue to fall, supplies at the nation’s storage hub begin to drop and tensions in the Middle East raise concerns over the potential disruptions to global supplies.
Here are 4 charts that show oil’s improving outlook:
Continue Reading at MarketWatch.com…
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Marc Faber: Stocks Are About to Fall 40% – At Least!

by Alex Rosenberg
CNBC.com

After years of forecasting gloom and doom for stocks only to watch them surge, Marc Faber is sounding the alarm as loud as ever.
Faber, editor of The Gloom, Boom & Doom Report, believes that stocks in the U.S. and in many places around the globe are in a central bank-fueled bubble. And while he can’t put a time on when that perceived bubble will pop, he prognosticates that once it does, the outcome will be horrifying.
“For the last two years, I’ve been thinking that U.S. stocks are due for a correction,” Faber said Wednesday on CNBC’s “Trading Nation.” “But I always say a bubble is a bubble, and if there’s no correction, the market will go up, and one day it will go down, big time.”
“The market is in a position where it’s not just going to be a 10 percent correction. Maybe it first goes up a bit further, but when it comes, it will be 30 percent or 40 percent minimum!” Faber asserted.
Continue Reading at CNBC.com…
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How To Find Stocks For A Quick Upside Pop (HOT, LVLT, VRX)

Here I  show you a quick and easy way to find stocks that are really moving and that you can catch for quick pop on the upside. It’s not difficult, anyone can do this with just a few mouse clicks (I show in video at end).
I found 3 stocks today (HOT, LVLT, VRX) that I like and I want to share those 3 stocks with you right now.
The first stock I found was Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) currently trading  near 87.00.  (more)

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Select Sands (SNS-TSXv): Texas Oil Producers are Drooling Over This

Frac sand is all about location.  Location-Location-Location.

And Select Sands (SNS-TSXv) has a superb location for its new Tier 1 frac sand deposit in Arkansas—almost right over top of the Fayatteville Shale, and 650 rail miles closer to Texas than Wisconsin, where almost all the other Tier 1 sand is produced in North America.


corp

Even before he is in production, CEO Rasool Mohammad says his phone is ringing constantly as both energy producers and OilField Services (OFS) companies are calling to ask about his new deposit—called Sandtown.  He has literally been offered contracts before he can deliver any product.

That’s how desperate the Market is for high quality Tier 1 frac sand close to Texas.  Frac sand is the #1 reason well productivity continues to increase in North America.

In August 2013 Whiting and EOG experimented with using short wide fracks—and basically doubling the amount of sand per well—instead of long skinny fracks.  This new method increased production dramatically then, and producers are still—almost two years later—increasing the amount of sand they use per well.  Frac sand is the last place oil and gas companies want to cut spending.

Select Sands (SNS-TSXv) gives a great opportunity to patient investors who like groundfloor investments.  There are LOTS of catalysts near-to-medium term.

This is a stock with only 42 million shares out and trades at 35 cents.

So far, Mohammad has proven up the quality and size of the Sandtown deposit with over a dozen drill holes.  The deposit is sitting right at surface in many places, and goes down over 100 feet, giving it lots of size.   For the geologists, the deposit is in the St. Peter Sandstone formation, which is the same as the Tier 1 “White Sand” that comes from Wisconsin.

The Sandtown sand has been tested by Stim-Lab, one of the best and well-known companies in the business and results of the two main sizes of frac sand-- 40/70 and 100 mesh—met or exceeded the Tier 1 frac sand specs.

(In fact, the sand was such high quality it could be high-graded and used for a lot of industrial uses, like making glass.  Several frac sand suppliers sell as much as half their product to the glass industry.  Low energy costs in the US are bringing back a lot of glass industry; but that’s another story.)

So Select Sands HAS the goods.  And it has the business model to make it all work for both industry and shareholders.
And the biggest part of that is…Location-Location-Location.  Their deposit is 650 rail miles closer to the Big Shale Deposits in Texas—the Permian Basin and the Eagle Ford.

Now, these two massive oil plays represent 38%, or 18.777 million tons, of the total 49.7 million tons of proppant (another word for frac sand) consumed in the entire USA in 2014.  These are the basins to which SNS is closest.

These are also the basins that are seeing the largest increase in frac sand intensity—the amount used per horizontal well.  Overall in the USA it was up 27% per well, but in the Eagle Ford it was up 33%, and in the Permian by 38% (Source: NavPort)

Commodities logistics firm PLG Consulting said that transportation and warehousing can account for nearly two-thirds of the delivered price for frac sand. Being half again as close to market gives the Sandtown deposit a huge leg up on its Wisconsin competitors.

Select Sands estimate their sand can be delivered to the Eagle Ford for as much as $15-$20/ton cheaper, comparable Tier 1 sand from Wisconsin.   And of course, with a lower oil price producers are looking to scrape costs to the bone—and Select Sands just threw them a bone.

While the rig count is now down some 50% from the peak of late 2014, frac sand demand is expected to be down only 25%--with most of that drop coming from lower quality sands.   I expect Tier 1 sand to continue to have a healthy market, though at slightly lower prices than 2014.

There are a couple other minor trends working in Select Sands’ favour.  One I mentioned earlier in the week—there is a big “fracklog” of wells that have been drilled but not completed or fracked.  That is low hanging fruit for the industry if the oil price moves up.
The second is that a premium product--ceramic proppants—a more expensive competitor to frack sand—are not being used as much now.  That’s creating some extra market share for Tier 1 sand.

Successful frac sand stocks are greatly rewarded by the Market.  From August 2013 to the peak in late 2014, the Market took the three largest US frac sand suppliers to over 20x annualized cash flow at the peak.

Those three stocks (HCLP, SLCA and EMES) made investors 450%, 600% and 835% respectively over three years.
Junior stocks did even better—witness Canada’s own Athabasca Minerals (ABM-TSX) going from 25 cents to $3.20 in three years—a 1280% move.

Select Sands (SNS-TSXv) has the potential to follow these stock charts.  The asset is there.  The business opportunity is there.  As management executes a simple business plan, the Market will reward them and shareholders.

 
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Friday, May 1, 2015

American Express Co. (NYSE: AXP): This Blue-Chip Dow Stock Is Now A Bargain

Wall Street tends to take a binary view of even well-seasoned companies: Love 'em or hate 'em.
Right now, the Street is overreacting to some snags at one of the world's leading financial services firms, American Express Co. (NYSE: AXP).
In 2015, American Express is the Dow Jones Industrial Average's worst performer, falling more than 16%. (more)

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MAXIMUS, Inc. (NYSE: MMS)

MAXIMUS, Inc. provides business process services to government health and human services agencies in the United States, Australia, Canada, the United Kingdom, and Saudi Arabia. The company operates through two segments, Health Services and Human Services. The Health Services segment provides various business process services, as well as related consulting services for state, provincial, and national government programs, including Medicaid, Children's Health Insurance Program, Supplemental Nutrition Assistance Program, Medicare, the Affordable Care Act, Health Insurance British Columbia, and the Health and Work Program. The Human Services segment provides national, state, and county human services agencies with various business process services and related consulting services for welfare-to-work, child support, higher education, and K-12 special education programs, as well as offers program consulting, and tax credit and employer services.

Take a look at the 1-year chart of Maximus (NYSE: MMS) below with my added notations:
1-year chart of Maximus (NYSE: MMS) MMS has formed a clear support at $65 (green). In addition, the stock is declining against a short-term, down trending resistance level (red) over the last couple of weeks. These two levels combined have MMS stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those levels.

The Tale of the Tape: MMS has a down trending resistance and a $65 support level to watch. A long trade could be made on a breakout through the resistance or on a pullback to $65. A break below the $65 support would be an opportunity to enter a short trade.
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Is WTI crude oil on the way to $67 per barrel?



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How to Make a Quick 20% as Copper Rises from the Dead

Wanna make money on both sides of a trade? Thought so…
We made out like bandits betting against copper in the past. Now we’re going to cash in betting on copper for a short-term rally. That’s right— Dr. Copper’s getting a second wind. And no one’s paying attention.
Can’t say that I blame them. This dog has been beaten to a pulp for years. Like I said, we’ve bet against copper a few times over the past 18 months. It was like stealing candy from a baby.
But something’s different this time. The copper bears are capitulating. A stealth rally is in the works. And it could net you 20% gains in no time…(more)

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Thursday, April 30, 2015

Will GoPro (GPRO) Stock Rally Back Above $90?

GoPro Inc (NASDAQ:GPRO) stock was soaring on Wednesday, with shares trading as much as 12% higher after a blowout first quarter that easily topped Wall Street consensus forecasts.
gopro 185 Will GoPro (GPRO) Stock Rally Back Above $90?With GPRO stock now trading above $52 a share, it’s still far, far beneath all-time highs around $98 that the stock hit in October. But if the wearable camera company keeps doing what it’s doing, GPRO stock could be flirting with those levels again sometime soon.
It sounds crazy, I know. But allow me to outline the uber bullish case for GPRO stock. (more)

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Deckers Outdoor Corp (NYSE: DECK)

Deckers Outdoor Corporation designs, markets, and distributes footwear, apparel, and accessories for outdoor activities and casual lifestyle use for men, women, and children. The company offers luxurious comfort footwear, handbags, apparel, and cold weather accessories under the UGG brand name; sandals, shoes, boots, and amphibious footwear under Teva brand name; and action sport footwear under the Sanuk brand name. It also offers high-end casual footwear under the TSUBO brand name; outdoor performance and lifestyle footwear under the Ahnu brand name; and footwear for culinary professionals under the MOZO brand name, as well as running footwear under the Hoka One One brand name. The company sells its products primarily to specialty retailers, selected department stores, outdoor retailers, sporting goods retailers, shoe stores, and online retailers.
Take a look at the 1-year chart of Deckers (NYSE: DECK) below with added notations:
1-year chart of Deckers (NYSE: DECK)
After a strong decline from December until the end of January, DECK has been trading sideways over the last 3 months. During the sideways move the stock has formed a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern.
DECK’s rectangle pattern has formed a resistance at 77.50 (red), which was also a prior support, and a $700 support (green). At some point the stock will have to break one of the two levels.

The Tale of the Tape: DECK is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $70 or on a breakout above $77.50. The ideal short opportunity would be on a break below $70.
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Chart of the Day Sketchers SKX

The Chart of the Day belongs to Skechers (SKX).
Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged and lifestyle footwear for men, women and children. Thecompany sells its products to department stores such as Nordstrom, Macy's,Dillards, Robinson's-May and JC Penney and specialty retailers such as Genesco's Journeys and Jarman chains, The Venator Group's Foot Locker and Lady Foot Locker chains, Pacific Sunwear and Footaction U.S.A.

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Barrick Gold (NYSE: ABX): Gold Miner is Itching to Break Out

Four years after it topped at $1,900 per ounce, gold has been languishing in a range closer to $1,200. With interest rates low and most measures registering no inflation, gold seemed to be a dead asset. Its role as a hedge was dismissed by almost everyone except for the gold sellers on TV.

Sentiment naturally turned very bearish, and that is when contrarian ears perk up.

Monday and Tuesday were unusually bullish days for the metal. However, the patterns on gold charts remain choppy-but-flat trading ranges. When viewed with a long-term eye, the trend is officially still to the downside.  (more) 
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Wednesday, April 29, 2015

Dollar Weakness, China stimulus sending commodities higher

That combination is working to send strong money flows into the commodity sector this morning. Though the Dollar is still trading within its month long trading range, it is starting to look a bit heavy.
If tomorrow’s FOMC statement comes across as dovish once again, we could see some deeper losses in the Dollar. I think this is what is moving the market today as many traders are getting increasingly pessimistic that we are ever going to get this current Fed to sound the least bit hawkish. I have never seen such a timid group of people. (more)

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Big Upcoming Catalysts for these 2 Small Biotechs: Agenus Inc. (NASDAQ: AGEN), Protalix BioTherapeutics (NYSE: PLX)

One thing that I have developed over the past couple of decades investing in the small biotech space is learning to recognize when a company and its stock start to have positive catalysts happening and also on the horizon. This is critical in spotting potential big winners in the market.
In spring of last year I noticed that Avanir Pharmaceuticals (NASDAQ: AVNR) had just won a major court victory to retain exclusivity on its primary drug through 2026 and also had phase II trial results coming up later on in the year for a promising compound to treat the agitation commonly found in Alzheimer’s patients. When results turned out to be positive a few months later, the stock shot up. Soon thereafter, the company received a substantial buyout offer from a bigger Japanese based pharma player in December bringing better than a 215% return to the Small Cap Gems portfolio. (more)

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