Thursday, June 12, 2014

Twitter (NYSE: TWTR) Technicals Point to 30%-Plus Rally

Like the story of Icarus from Greek mythology, Twitter (NYSE: TWTR) flew too high and the sun melted its wings. As the post-IPO hype wore off and analysts could not find a path to profits, the stock plunged from a high above $74 in December to a low under $30 in May. Yes, 2014 has been a rough year for the social media stock.

On the way down, TWTR temporarily found support at its post-IPO pullback lows. Surely, that would be the place for everyone who missed the initial run-up to seize a second chance to get in on what was a spectacular early rally. But "bottom fishers" got burned as the stock lost a quarter of its value from there. Eventually, however, stocks do get cheap enough where there is real value for those who can see it.  (more)

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3 Costly Mistakes Investors Should Avoid

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USDA Supply-Demand Report Day

by Dan Norcini
Trader Dan Norcini

USDA released its Supply/Demand numbers this AM. Based on those, they are expecting a record US corn crop of 13.935 billion bushels on a yield of 165.3 bushels/acre. The 2013-2014 ending stocks are expected at 1.146 billion bushels, down from their last estimate of 1.157 billion. The 2014-2015 carryover is expected to total 1.726 billion bushels.
Soybean production should total 3.635 billion bushels this year using a 45.2 bushel/acre yield. Analysts had been looking for a 3.267 billion bushel crop using a yield of 45.0 bushels. Carryover is expected to jump significantly to 325 million bushels, up from the current marketing year’s 125 million bushels. USDA once again lowered those ending stocks in the beans which has been the wild card that is keeping this market trading in such a schizophrenic fashion. Traders are simpy unsure of how to deal with such a tight carryover in the face of a huge new season crop. The spread action is resulting in contortions and erratic swings in price.
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Chart of the Day Apple Inc : AAPL

The Chart of the Day is Apple (AAPL). I found the stock by sorting the New High list for frequency in the last month, then used the Flipchart feature to find the chart I liked. Since the Trend Spotter signaled a buy on 4/24 the stock gained 16.14%.

AAPL is engaged in designing, manufacturing and marketing mobile communication and media devices, personal computers, and portable digital music players. The Company's products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a range of accessory, service and support offerings. It sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.

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Before You Buy Stocks Today, Read This...

Wall Street's "fear gauge" flashed a sell signal at the end of May.
But since then, the stock market has continued to work even higher. The S&P 500 hit a new all-time high last Friday. And some folks might be wondering if the sell signal is a bust.
It's not.
As you can see from the following chart, the Volatility Index ("VIX") once again closed below its lower Bollinger Band last Friday...
Once the VIX rallies and closes back inside its Bollinger Bands, it'll generate another broad stock market sell signal. That will be its second sell signal in about two weeks.
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