Archive for the ‘Chart of the Day’ Category

Black Monday is Nothing More Than a Speck

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Postwar Bulls

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On track for the greatest bull market of all time. 

The 1987 Crash, Today

 

 

1987 chart

Hat tip Dana Lyons

TNX & TLT

Rates spike therefore Bonds down.

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PayPal Has Had a Great Run This Year

The stock is up over 65% this year.  Tonight PYPL will report its third quarter earnings report.  We would be a buyer on weakness. 

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More here in our latest column on realmoneypro.com:  www.realmoneypro.thestreet.com

We are long PYPL in some managed accounts. 

An Even 50

Yesterday the Dow Jones Industrial Average closed at a new all-time high for the 50th time this year:

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Relentless momentum.

Hat tip Charlie Bilello

TSLA

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Employment and Consumer Sentiment

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Great chart…

A Huge Downside Reversal Today For Goldman Sachs

Goldman Sachs traced out a key downside reversal on Tuesday.  The stock opened the session with a gap higher open following its very solid third quarter earnings report.  By the close GS was down over 2.6% for the day leaving behind an ominous top in its wake.  For patient investors lower entry opportunities for this financial sector giant are on the way.

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Post earnings action such as today’s is not uncommon for GS.  As per Bespoke the stock has traded lower after 15 of the last 21 quarterly earnings reports despite topping estimates.  Some downside follow-through after today’s nasty sell off is to be expected.  GS has layers of support in place after leaving behind a six month consolidation pattern in late September.  Investors should expect to see the top band of this solid support zone tested very soon.  

In the near term GS investors should keep a close eye on the $231.00 to $226.00 area.  This $5.00 zone includes the stock’s May, June and July highs as well as both the 50 and 200 day moving averages.  If GS can regain its footing here today’s deep reversal damage will be sharply limited.  On the downside, a close below $225.00 would drop the stock back into the middle of its summer range  leaving behind a very large amount of overhead supply.

At time of publication we are long GS in some managed accounts.

 

 

UNH

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