Monday, November 23, 2015

Celldex Therapeutics, Inc. (NASDAQ:CLDX), Ambarella Inc (NASDAQ:AMBA), Google Inc (NASDAQ:GOOGL)

Celldex Therapeutics, Inc. (NASDAQ:CLDX) which has been building momentum since late-October, broke out of its bullish consolidation on massive volume on news that its Rintega brain cancer vaccine reduced the risk of death from the disease by 47 percent in a 73 patient randomized study. Plus, the survival rate at 2 years was 25% for patients given the vaccine versus none in the control group, so I was motivated to buy more shares. This move broke the stock out of a triple top resistance zone that contained the upmove since August. From a technical standpoint daily technical indicators are looking bullish. The MACD is above its signal line and is moving up in positive territory. CMF is also positive and RSI has moved above its 60% level. On longer-term daily chart, the stock is trading below its 100-day and 200-day EMAs but well above its rising 50-day EMA. The short-term bull market is intact, despite being in a bear market in the medium-term. I think the stock next week can easily re-visit its 200-day EMA at $18.48, if not higher. Based on Friday's news, I expect upgrades coming soon.

Ambarella Inc (NASDAQ:AMBA) traded nicely on Friday and I’m looking for continuation of the upward direction next week. The stock is a short squeeze candidate, with a short float at 43% equivalent to 6 days of average volume. From a technical standpoint, the daily technical chart shows that the stock is in a rally as %K line is rising on top of %D line as the price is back above the short-term EMAs and with a positive MACD action. The RSI is also rising along with the rise in volumes indicates buying interest in the stock. At the same time, price broke out of downtrend line which goes back to the September top. Can get interesting. Keep close eye on this one for a major rally to the upside.

Google Inc (NASDAQ:GOOGL) has a bullish looking chart. Price broke out to a new all-time high Friday, accompanied by a good volume suggesting higher levels.The stock has been in a nice uptrend for the last two months and it looks very strong with both 50-day and 200-day exp moving averages going up while %K line is on top of %D line. Long setup.

5 Gold and Silver Stocks Starting to Shine: SLW, AG, GG, ABX, KGC

Precious metals and related mining stocks have been under a historic, soul-crushing selloff in recent weeks, as investors worry if the Federal Reserve — on rising odds of interest rate liftoff in December — is heading into a policy mistake with inflation still below target.

Inflation just isn’t a clear and present threat: Producer price inflation is cratering, dropping at a 1.6 percent annual rate as of October on a persistent drop in food prices.

On Monday, wholesale gasoline futures tested down to $1.20 a gallon — a level not seen since early 2009. Copper and crude oil are similarly weak. Other measures from China factory gate prices to U.S import prices all tell the same story.  (more)

Could Gold Bottom In The Next 3 Days?

On Friday as the markets were closing I received an email update from another widely followed newsletter writer who has been correctly, extremely negative on the entire commodity sector for a few years.

In his update, he states that his cycle work indicates that gold will bottom on November 24-25.

WOW, that is this coming Tuesday and Wednesday and precedes the Thanksgiving Holiday in the United States.  (more)

US Weekly Economic Calendar

time (et) report period ACTUAL forecast previous
10 am Existing home sales Oct.   5.44 mln 5.55 mln
8:30 am Advance trade in goods Oct.
-- -$58.6 bln
8:30 am GDP revision 3Q
2.1% 1.5%
9 am Case-Shiller home prices Sept.      
10 am Consumer confidence Nov.   100.0 97.6
8:30 am Weekly jobless claims Nov. 21   N/A N/A
8:30 am Personal income Oct.   0.4% 0.1%
8:30 am Consumer spending Oct.   0.2% 0.1%
8:30 am Core inflation Oct.   -- 0.1%
8:30 am Durable goods orders Oct.   1.8% -1.2%
9 am FHFA home prices Sept.      
10 am New home sales Oct.   510,000 468,000
10 am Consumer sentiment Nov.   -- 93.1
  Thanksgiving Day
None scheduled
  None scheduled