For those who doubt the power of charting and technical data, take a look at this chart for Boeing (BA): StockCharts.com Boeing has been on a tear since March, even though the company received a bunch of negative press for its 787 battery issues. More recently, the stock price took a hit when it was […]
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GM: Taxpayers Could Lose Billions In Bailout Dollars
According to a recent AP article, U.S. taxpayers would need to see their shares in GM (GM) (a forced purchase I might add) sold for a price of $95.51 (an increase of ~161 percent from its current level) in order to simply break even. DETROIT (AP) — General Motors stock would have to sell for […]
Defense & Defensive Shares Keep Rising
The two sectors (and trades) that have continued to work well during the “recovery” are the defense sector and the defensive sector (i.e. healthcare). StockCharts.com The make-up of the above ETFS are as follows: PPA PowerShares Aerospace & Defense Port. UTX – 6.53% BA – 6.36% HON – […]
Inflation Fears Reignited
The inflation fear trade was reignited today after McDonald’s disappointed and existing home sales showed a 1.2 percent decline in June. Following the news, the price of gold climbed 3.17 percent. StockCharts.com Recent housing market and McDonald’s earnings news seems to have put an end to the market’s “taper tantrum” — at least temporarily. Even […]
Home Sales Drop In June
The National Association of Realtors Reported today that existing home sales fell 1.2 percent in June, indicating some slippage in our struggling housing market recovery. Some news outlets are reporting that rising mortgage rates are squashing buyer purchasing power. If true, especially with rates still at “historic lows,” it certainly doesn’t say much for the […]
McDonald’s Disappoints
Wall Street opened flat on Monday following a gloomy earnings outlook from McDonald’s in the wake of a record closing high hit by the S&P 500 index in the prior session. Source: Yahoo! Finance McDonald’s Q2 financial results are out. Q2 earnings came in at $1.38 per share, missing analysts’ estimates for $1.40. Revenue came […]
Someone Call A Tow Truck, Detroit Files For Bankruptcy
Across all of the major news wires it is being reported that Detroit has filed for Chapter 9 bankruptcy protection. According to Bloomberg: Two Detroit pension funds sued the city’s emergency manager and the governor of Michigan, asking that a court find a bankruptcy filing would conflict with the state’s constitutional protection of public retirees’ […]
Discouraged
dis·cour·age tr.v. dis·cour·aged, dis·cour·ag·ing, dis·cour·ag·es 1. To deprive of confidence, hope, or spirit. 2. To hamper by discouraging; deter. 3. To try to prevent by expressing disapproval or raising objections. Source: TheFreeDictionary I must freely admit that I am feeling a bit discouraged today. This morning, I woke-up early (as I usually do) and I […]