Monday, November 2, 2015

A Look At 100 Baggers

Last Wednesday was “Back to the Future” Day.
In the second film of famous Back to the Future trilogy, Marty McFly and Doc Brown travel from 1985 to Oct. 21, 2015. There were all kinds of articles about the film and what it got right and wrong and so forth.

Of course, I can’t help but wonder what stocks you might’ve bought back in 1985 that turned into 100-baggers. A columnist at MarketWatch, Philip van Doorn, looked at the top performers in the S&P 500 from 1985 to now:  (more)

Mind The SPX Arch Potential For A 25% Plunge Ahead

If you been following our technical chart segment you have seen the evolution of one particular chart: That of the daily $SPX. The rejection of price on Friday, after yet another push higher, occurred at the level of an arch that we have been observing unfold over the past year. Now there is no technical pattern called the “arch”, but one cannot deny that since September 2014 price rejections have taken place along very specific points that now offer stunning symmetry.

It is not only the arch here which has proved superbly precise, but the confluences of price rejections are incredible.  (more)

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) looks to have finally hit bottom, as the stock bounced strongly on Friday after its recent weakness. With the strength the stock showed at the close, we should see a continued upside move. I expect to see an increase in volume as traders are always looking for stocks that bounce after a big sell-off, so watch it closely next week.

US Weekly Economic Calendar

time (et) report period ACTUAL CONSENSUS
10 am New home sales Sept. 468,000 550,000 529,000
8:30 am Durable goods orders Sept. -1.2% -2.3% -3.0%
9 am Case-Shiller home prices Aug. 4.7% yoy -- 4.6% yoy
9:45 am Markit services PMI Oct. 54.4 -- 55.1
10 am Consumer confidence index Oct. 97.6 102.1 102.6
10 am Homeownership rate Q3 63.7% -- 63.4%
8:30 am A dvance trade in goods Sept. -$58.6 bln -$64.0 bln -$67.2 bln
2 pm FOMC announcement   0%-0.25% 0%-0.25% 0%-0.25%
8:30 am Weekly jobless claims Oct. 24 260,000 265,000 259,000
8:30 am Gross domestic product 3Q 1.5% 1.8% 3.9%
10 am Pending home sales index Sept. -2.3% -- -1.4%
8:30 am Personal income Sept. 0.1% 0.2% 0.3%
8:30 am Consumer spending Sept. 0.1% 0.2% 0.4%
8:30 am Core Inflation Sept. 0.1% 0.2% 0.1%
8:30 am Employment cost index 3Q 0.6% 0.7% 0.2%
9:45 am Chicago PMI Oct. 56.2 -- 48.7
10 am Consumer sentiment index Oct. 90 92.5 87.2