Monday, February 23, 2015

Greece Should Leave Eurozone? – Mike “Mish” Shedlock

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Ross Clark – Equity Markets. Greece. Ross Kay – Real Estate Bubble in Canada? February 21, 2015

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Commercial Traders Are The Most Long 30Y Treasuries In A Year

Via Gavekal Capital blog,
Over the last five years the signal given by investor positioning in options and futures contracts on the 30-year treasury bond has proven prescient. Each time commercial traders have moved to a long position in the long bond rates have been near a peak. Over the last few weeks the commercials have shifted their positioning dramatically, moving from one of the largest short positions to a net long position for the first time in almost a year.

If history is a guide then we may be near an intermediate term peak in rates.
Zero Hedge
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PAREXEL International Corporation (NASDAQ: PRXL)

PAREXEL International Corporation, a biopharmaceutical outsourcing services company, provides clinical research, clinical logistics, medical communications, consulting, commercialization, and advanced technology products and services for pharmaceutical, biotechnology, and medical device industries worldwide. The company operates in three segments: Clinical Research Services (CRS), PAREXEL Consulting Services (PC), and PAREXEL Informatics (PI).
Take a look at the 1-year chart of PAREXEL (Nasdaq: PRXL) below with added notations:
1-year chart of PAREXEL (Nasdaq: PRXL)
PRXL was on a steady trend higher from April up until its $64, September high. After that, the stock has hit that same $64 (blue) mark several times only to end up eventually pulling back down. If PRXL can finally break through that $64 resistance the stock should be headed higher. A close above that resistance would also constitute a new 52-week high.

The Tale of the Tape: PRXL has a 52-week resistance at $64. The possible long position on the stock would be on a breakout above that level with a stop placed under it.
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Google (Nasdaq: GOOG) The Only Tech Stock You’ll Ever Need

It’s an investors dream to have a winning portfolio comprised entirely of a single stock…
While a diversified collection of companies is in your best interest as a long-term investor, what we really want are the “silver bullets” that can beat the broader market on a consistent basis. (more)

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US Weekly Economic Calendar

time (et) report period ACTUAL CONSENSUS
8:30 am Chicago Fed national activity index Jan.   -- 0.39 (3-month)
10 am Existing home sales Jan.   4.95 mln 5.04 mln
9 am Case-Shiller home price index Dec.   -- 4.7% y-o-y
10 am Consumer confidence index Feb.   99.0 102.9
10 am Janet Yellen testimony at Senate        
10 am New home sales Jan.   465,000 481,000
10 am Janet Yellen testimony at House        
8:30 am Weekly jobless claims Feb. 19
295,000 283,000 
8:30 am Consumer price index Jan.   -0.7% -0.3%
8:30 am Core CPI Jan.   0.1% 0.1%
8:30 am Durable goods orders Jan.
0.5% -3.3%
9 am FHFA home price index Dec.   -- 5.3% y-o-y
8:30 am GDP revision 4Q   2.0% 2.6%
9:45 am Chicago PMI Feb.   -- 59.4
9:55 am Consumer sentiment Feb.   93.8 93.6
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