Mylan Inc (NASDAQ: MYL)

Mylan Inc., a pharmaceutical company, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. It operates in two segments, Generics and Specialty. The Generics segment primarily provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch form, as well as active pharmaceutical ingredients. The Specialty segment manufactures and sells branded specialty injectable and nebulized products comprising EpiPen Auto-Injector for the treatment of severe allergic reactions; and Perforomist Inhalation Solution, a formoterol fumarate inhalation solution for the maintenance treatment of bronchoconstriction in chronic obstructive pulmonary disorder patients.
Take a look at the 1-year chart of Mylan (Nasdaq: MYL) with the added notations:

Over the last 6 months MYL has formed a key level of support at $45 (blue). In addition, the stock has created a down trending resistance (red) starting from the beginning of March. The stock has just recently tested the support and may be on its way back up to resistance again. At some point, MYL will have to either break support or break its trendline.

The Tale of the Tape: MYL has formed a key support and down trending resistance. Long trades could be made on either a pullback to $45 or on a break through the down trendline. Short trades could be made on a break of the $45 support level or on a rally up to the down trending resistance.
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Ned Davis: If Gold Follows 1980s Pattern, Expect $660 An Ounce

No doubt it’s been a difficult to be a goldbug lately. However, as a note from Ned Davis Research postulates, it could be much worse.

John LaForge and Warren Pies write that from its peak in January 1980 through its trough in February of 1985, gold suffered 65.8% losses. So far in this cycle, it’s lost 35.7% from its August 2011 peak, so if it were to follow its 1980s path, it could easily slip below $700 an ounce.

There were a number of factors working against gold in the 1980s, but notable among them was the strength of the U.S. dollar: It rose 54% from January 1980 to February 1985, versus as basket of major currencies.  LaForge and Pies write that it’s not difficult to see how the same pattern could play out again, weighing on gold. These waters aren’t friendly to contrarian investors, who usually lose out when betting against a rising dollar. Nor does it seem like a time for bargain hunters in gold, if the price is in danger of falling significantly more and pessimism hasn’t yet reached its peak.

They conclude: ”Gold is not worth additional capital at this point. It is oversold, but is trending poorly. Like gold, the overall commodity super-cycle looks to be dying.”
That’s likely not welcome news for gold ETFs, even as the SPDR Gold Trust (GLD) and Market Vectors Gold Miners (GDX) were already just about $1 from their 52-week lows on the last day of September.


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Is Canada Next? Housing Bubble Threatens ‘Financial Stability’

wolfstreet.com / by Wolf Richter • October 1, 2014
Canada’s truly magnificent housing bubble, incomparably more magnificent that the housing bubble in the US that blew up with such spectacular results, is starting to worm its way into all sorts of venues. And on Tuesday, Bank of Canada Deputy Governor Agathe Côté had a special place for it in her discussions of “vulnerabilities and risks” to the “stability of the financial system.”
Home prices in Canada rose more moderately than in the US during the crazy go-go years from 2000 until the financial crisis: in the US they more than doubled in that period, according to the CaseShiller Index, while they rose “only” about 70% in Canada, based on the Teranet–National Bank National Composite House Price Index.
But then the hot air was let out of the housing bubble in the US between 2007 and 2011. In Canada, after a minor ripple between 2008 and 2009, home prices continued soaring – to this very day. In August, they rose another 0.8%. Over the last 14 years, prices have increased by 150%, twice as fast as in the US.
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Transocean (RIG) : Add This Beaten-Down Oil Driller to Your "Watch List" Today

It's one of the world's greatest collections of oil drilling assets.

It pays a big dividend.

It's a top holding of legendary investor Carl Icahn.

And its share price has been killed.

I'm talking about Transocean (RIG), the world's premier owner and operator of oil drilling ships.

So is the stock a buy today?

The answer is not yet. But we're close. (more)

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Qiwi PLC (NASDAQ: QIWI)

QIWI plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United States, and the United Arab Emirates. It provides payment services through operating approximately 127,000 kiosks and 42,000 terminals in its payment processing platform. The company also offers Visa Qiwi Wallet, an online and mobile payment processing, and money transfer system that allows accountholders to pay for the products and services of merchants, as well as to perform peer-to-peer money transfers through a virtual wallet in the online and mobile environment. In addition, it is involved in licensing software and trademarks. The company is based in Moscow, the Russian Federation.
Take a look at the 1-year chart of QIWI (Nasdaq: QIWI) below with my added notations:

QIWI has formed a relatively clear down-channel chart pattern over the last (4) months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to channels, remember that any (3) points can start the channel, but a 4th point or more confirms it. You can see that QIWI has several points of channel resistance (blue) and support (red).

The Tale of the Tape: QIWI has formed a common pattern known as a channel, in this case a down channel. A long trade could be entered on a pullback down to the channel support (approaching $30), or on a break through the channel resistance, which is currently getting close to $38.
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Russell 2000 Enters 10% “Correction” As S&P, Dow, Transports Break Crucial Technical Support

zerohedge.com / by Tyler Durden on 10/01/2014 13:11
The small-cap Russell 2000 is down over 10% from its July highs (down 6.2% year-to-date) as VIX is back over 17. Treasury yields continue to collapse (down 8-9bps today alone) with 10Y trading with a 2.40% handle (and 3Y under 1% again). All other major equity indices are also red from the Russell 2000 peak in July and have broken various key technical levels today – S&P below 100DMA, Dow Industrials below 100DMA, Dow Transports At 100DMA, and Nasdaq broken well below its 50DMA. Russell is back at levels first seen a year ago.
Russell in correction…

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Gold Will Surprise In More Ways Than One

news.goldseek.com / By Bob Loukas / 1 October 2014
Everywhere you turn today, gold is again being dismissed as a relic of the past, totally worthless, non-producing, with no place in any modern day portfolio. During the past 3 years, the gold complex has experienced the progressive stages of fear, capitulation, and despair, all classic bottoming phases of a long term Cycle. The question now is whether this high level of apathy is a symptom of a new secular bear market or a period of “stealth smart money” accumulation.
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