Friday, October 24, 2014

Why Amazon Is Crashing: Jeff Bezos’ Nightmare Quarters In Charts / by Tyler Durden on 10/23/2014 16:26
The only six charts you need to know why the Amazon dream is over and why AMZN stock is currently crashing after hours to fresh 52 week lows.
Total employees and global sales growth:

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Victor Sperandeo: What Surprise Action To Expect In Gold, Stocks & Oil / October 23, 2014
Today a legendary trader and investor spoke with King World News about what surprise action to expect in gold, global stock markets, and oil.  Victor Sperandeo has been in the business 45 years, and has worked with famous individuals such as Leon Cooperman and George Soros.  Below are the warnings issued by Sperandeo.
Sperandeo:  “Despite today’s action, there is no question that gold has made a bottom.  Gold recently tested the $1,192 level on the December futures contract.  It then popped back above $1,200 again.  But gold keeps testing those lows and bouncing higher, and there’s really no major news to make the gold market keep doing that….
Continue reading the Victor Sperandeo interview below…
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Ellie Mae Inc (NYSE: ELLI)

Ellie Mae, Inc. provides on-demand software solutions and services for the residential mortgage industry in the United States. Its mortgage management solutions streamline and automate the process of originating and funding new mortgage loans, facilitating regulatory compliance, and reducing documentation errors. The company provides Encompass, a proprietary software product that combines loan origination, business management, and customer relationship management (CRM) software for mortgage originators into one end-to-end system.
Take a look at the 1-year chart of Ellie (NYSE: ELLI) below with my added notations:
1-year chart of Ellie (NYSE: ELLI)
ELLI has been trending consistently higher for the last 6 months, and during that time the stock has also formed a clear trendline of support (blue). In addition, the stock had also created at 52-week high resistance level at $36 (red) in August and September. At some point ELLI was going to have to break one of those two levels, and late last week the stock broke through resistance to a new high.

The Tale of the Tape: ELLI broke though its $36 resistance, which was also a new 52-week high. A long trade could be made on a pullback down to the $36 level with a stop placed below that level. A break back below $36 should lead to a fall down to the trendline support, which is currently near $33.
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HUI to Gold Ratio Collapsing

by Dan Norcini
Trader Dan Norcini

There is only one comment that I can make based off of what I see from this chart; either the gold mining stocks are tremendously UNDERVALUED compared to the price of the metal or the gold price is way too high.

This ratio just touched a level last seen in DECEMBER 2000! That is FOURTEEN YEARS AGO!

Perhaps some more of these gold miners need to head to bankruptcy but with the ratio at current levels, and with the HUI itself trading at a SIX YEAR LOW this month ( refer to that chart I posted previously today) I am leaning to the view that the gold price is too high.

Talk about a disaster....
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Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps

from Zero Hedge
Saudi Arabia, it appears, had enough of shooting itself in the foot for its American ‘partners’, and has admitted for the first time that it slashed supply in September. As Bloomberg reports, OPEC’s biggest producer cut supply to mkt by 328k b/d in September to 9.36m b/d, from 9.688m b/d in August, according to a person with knowledge of Saudi Arabia’s oil policy. Prices in September were flat admit this supply cut which suggests along with the build in EIA inventories seen yesterday that Saudi Arabia may have also been forced by global demand weakness to cut supply through October also.
Continue Reading at…
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“Real” Stock Volatility In October Highest Since Lehman / by Tyler Durden on 10/23/2014 14:40
While VIX pumped-and-dumped (in a manner never seen before in its history), ‘real’ volatility of the day to day moves across the major stock indices remains extremely elevated. For the Nasdaq and Dow Transports, the average true range over the last few weeks is the highest since the post-Lehman collapse
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