Author Archive

Car Sales With Subsidies

And car sales without.  Quite a difference.  Minus the governments help they suck, at least in Denmark:

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The electric car ‘revolution’ is nothing without tax credits.  They just can’t compete with gas powered vehicles on a level playing field.  The main stream media would prefer you not know this though. 

Hat tip Zerohedge.com

We Nailed These Energy Stocks

Back in early September we featured Occidental, plus a few other energy names(XOM,HAL,SLB), as bullish set ups.  Today OXY is up over 2.5% and is headed for its first close above the 200 day moving average since December of last year.  The stock is now 9% above the September low.  Here’s our realmoneypro.com post:
Occidental Looking Good
By  Gary MorrowSep 6, 2017 | 11:15 AM EDT
Actually, looking better than good.  Energy perked up nicely yesterday and the sector continues to move well today. OXY(+1.5%)is leaving behind one of the more solid bottoms in the group and is set up well for a big run. September is shaping up as a second straight higher monthly low for the stock as the basing pattern in place since early March strengthens. I expect more upside, initial target is the declining 200D MAV($64). OXY has touched its 200 day since last December. I’m long a small amount of OXY, purchased this morning. Bought some XOM, HAL and SLB yesterday. A drop back below this week’s lows, in any of these names, would be a big disappointment.
We are long OXY, XOM, HAL, SLB in most managed accounts.
oxy
xom
 

 

The Weakest Time of The Year

Certainly not the case so far…Here’s a view of each day of the year’s performance, current September time frame is highlighted.  Very interesting:

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Hat tip Ryan Detrick

Aging Well

Only the October 1990 – March 2000 bull market, which produced a gain of 417%, surpasses the current bull market run:

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Hat tip Ryan Detrick

Buckle Up

Because, Global Warming

Snow comes to Mammoth Mountain, a little early this year…

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Snow plows on the move this week near Main Lodge.  More here from the LA Times:  www.latimes.com

NFL…RIP

34% Are Less Likely to Follow NFL Because of Protests

From Rasmussen Reports: 

Are football fans voting with their TVs?

As the National Football League struggles to explain this season’s downturn in viewer ratings, 34% of American Adults say they are less likely to watch an NFL game because of the growing number of protests by players on the field. The latest Rasmussen Reports national telephone and online survey finds that 12% are more likely to watch, while 50% say the protests have no impact on their viewing decisions.

Like I said, they’re just getting warmed up: 

NFL Players Double Down, Lobby for an ‘Activism Awareness Month’

Read the whole thing:  www.pjmedia.com

Hat tip Glen Reynolds of instapundit.com

Game Time, Levi Stadium

Levi

Here’s what it looked like, ahead of last night’s kick off between the 49ers and Rams.  You kneel for the National Anthem, this is what you get.  And they’re just getting started, the NFL players that is.  They now want the league to make November a month to protest the police.  I’m sure that will go over well.  NLF(no longer a fan).

NFL…rest in peace.

Major Rally Ahead for Bank of America?

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Bank of America was in a vulnerable spot earlier this month.  After the first September session the stock closed below its 200 day moving average for the next days.  This potentially damaging breakdown, which drove shares below the July and August lows, was the first time BAC fell below the 200 day moving average since August of last year.  The stock looked headed for new 2017 lows just two weeks ago.

BAC quickly regained its footing on Monday September 11th.  A steep sell off in the bond market lit a fire under the entire banking/financial sector.  BAC has continued to climb since while short term rates have risen to new yearly highs.  As this week comes to a close BAC has returned to heavy resistance near the August highs after rebounding over 10% from the September lows.  The stock is still range bound but is setting up well for a powerful breakout. 

Since early March Bank of America has been tracing out a very orderly consolidation pattern.  Before peaking March 2nd the stock had gained over 50% during the post election rally.  This major move pushed shares well into overbought territory.  Over the last seven months BAC has worked off this condition and is now poised for a fresh rally leg.

A key hurdle for BAC in the near term is the August high near $25.35.  Once this level is convincingly taken out we expect the stock to pick up momentum.  A move well into new 2017 high territory would not be difficult as the seven month consolidation gives way to a fresh rally leg.  As this develops BAC remains in a very low risk buy zone.  On the downside, a close back below this week’s low would indicate more sideways action will be needed before BAC is back in rally mode.

At the time of publication we are long BAC in most managed accounts.

 

 

Laggard

Russia that is:

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