Thursday, 30 July 2015

INTC - broadly weak

Whilst the main market saw a day of moderate chop, Intel (INTC) also saw some moderate swings, jumping at the open (intra high $29.45), but settling -0.3% @ $28.91. The broader trend remains bearish, with the H/S target remaining $22.50.


INTC, daily



INTC, weekly


Summary

Today was another instance where INTC saw some upside.. but then the sellers appeared.

Broadly.. INTC looks a given for the 26/25s by early Oct'... but if the main market gets real upset (as in sp' <2000).. then INTC will be unable to hold the key $25 threshold... with capitulation in the 23/21 zone.

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*I went short INTC earlier today from the $28.90s... seeking an initial exit in the 28.25/27.75 zone, but will consider being broadly short into early October.

Wednesday, 29 July 2015

TWTR - hashtag hysteria

Whilst the broader market settled broadly higher, there was some rather extreme weakness in Twitter (TWTR), closing -13.5% @ $31.24. The psy' level of $30 looks set to be lost in the near term... with the IPO price of $26 a valid target by early October.


TWTR, daily



TWTR, weekly' 2yr


Summary

Little to add.

I won't go over the recent earnings report.

Suffice to add.. the market has increasingly little tolerance with this momo/hysteria stock.

Another wave lower is clearly underway.. and TWTR looks set to be trading in the 30/25 zone into year end.

Tuesday, 28 July 2015

RIG, SDRL - a bounce within broader down trend

With the main market and Oil prices significantly higher, the Oil/gas drillers of Transocean (RIG) and Seadrill (SDRL) settled powerfully higher by 7.9% and 8.4% respectively. However, the gains do little to negate the apocalyptic declines since summer 2014.


RIG,daily



SDRL, daily


Summary

Little to add.

The Oil/gas drillers saw a strong day today, but a one.. or two bounce is almost certainly all it is. The broader trend remains weak.

Monday, 27 July 2015

GDX - miners start the week on a bad note

With precious metal prices remaining weak - despite a cooling USD, the related mining stocks resumed the broader trend. The ETF of GDX settled -4.0% @ $13.52. Near/mid term outlook remains bearish to the 12/10 zone, as Gold looks set for $1000.. .and almost equally viable... 900/875 zone.


GDX, daily



GDX, monthly



Summary

Little to add.

Regardless of any micro bounces... the miners look under pressure into Sept/Oct.

Until physical metal prices stop falling... the miners will remain broadly weak.. regardless of any strength in the broader equity market.

Friday, 24 July 2015

GDX - another week of horror

With precious metal prices continuing lower for a fifth consecutive week, the related mining stocks were smashed lower. The miner ETF of GDX settled Friday higher by 3.2% @ $14.05, but across the week, GDX declined by an extreme -8.9%. Near/mid term outlook remains bearish.


GDX, daily



GDX, weekly


Summary

Suffice to note... the horror continues for the gold mining stocks.

With GDX having broken the Oct' 2008 lower of $15.24, there is nothing but empty air below.

If Gold $1k.. GDX looks set for 12/11s.

Worse case.. Gold to $900/875.. which would likely equate to 10/9.