Friday, 27 March 2015

INTC, ALTR - soaring into the weekend

Whilst the main market saw very subdued chop into the weekend, there was some closing hour drama in tech land. Intel (INTC) is rumoured to be buying Altera (ALTR) which settled the day higher by 6.5% and 27.6% respectively.

INTC, daily

ALTR, daily


*a good example of some closing hour drama...

INTC, 5min

As for the likely deal... INTC looks like it is now very eager to grow. The market was delighted with the news.. and the net daily gains in INTC were pretty unusual for the company that is set to launch an official bid next week.

INTC, monthly

Broadly.. I am seeking the $50s... eventually. On no reasonable outlook can I see INTC falling back under the breakout zone of $25.

Thursday, 26 March 2015

GDX - fails to rally with Gold

Despite Gold rallying around $9, the precious metal miners failed to follow. The ETF of GDX settled lower by a rather significant -1.5% @ $19.07. Near term outlook is mixed, as the miners look vulnerable with the broader market, but have failed to break/hold above the 2013 floor at the $20 threshold.

GDX, daily

GDX, monthly


Little to add.

It has been a rough month for the precious metals.. and even though much of the Gold/Silver declines have been negated (as the USD weakens), the mining stocks are still massively lower by -10.4% on the month.

Best guess remains, a key multi-year floor for the precious metals (and by default.. the miners) in late summer/autumn.

Wednesday, 25 March 2015

DIS - break of trend in Disneyland

With increasing weakness in the broader equity market, Disney (DIS) was similarly under significant pressure, settling -2.0% @ $105.00. Next support is around 103/02.. where the 50dma will be lurking in the days ahead. There remains a very obvious price gap zone of 98/94.

DIS, daily

DIS, monthly


Disney has seen a clear break of the rising trend that stretches back to Feb 1st'.

There remain a huge truck load of reasons why the stock should continue to outperform the broader market, not least of which is Avengers'2 due for release in May.

*I remain very bullish DIS across the longer term... and will consider going long around 103/102 this Friday, not least if sp' looks floored in the 2040/20 zone.

Tuesday, 24 March 2015

FB, NFLX, TWTR - momo stocks catch a bid

Whilst the broader US equity market saw moderate declines, there was distinct strength in many of the momo stocks. Facebook (FB), Netflix (NFLX), and Twitter (TWTR) settled higher by a significant 1.0%, 3.1%, and 6.2% respectively. Near term outlook into April earnings is bullish for all three.

FB, daily

NFLX, daily

TWTR, daily


Suffice to say, all three look bullish into next earning season.

Of the three listed, TWTR looks the most bullish, with a decisive close above the $50 threshold. Next upside target is around $55, but the $60s look viable if Mr Market is inspired by Q1 earnings.

*I very rarely meddle in the momo stocks (my last trade in them was last earnings for TWTR... on the long side).. generally though.. they are merely useful to keep an eye on.. to help in determining the broader market sentiment.

Monday, 23 March 2015

AAPL - post opex gains

Whilst the broader market started the week somewhat mixed, there was notable strength in Apple (AAPL), which settled higher by 1.1% @ $127.24. There is viable near term upside to around $130, with key resistance at the Feb'24th high of $133.60.

AAPL, daily


*first.. a reminder on last Friday afternoons closing minutes 'quadruple opex' nonsense...

AAPL, 5min


Suffice to add ... AAPL - along with the broader market should be able to claw higher in the next earnings season. No doubt, AAPL earnings will be reasonable... and the $140/45 zone remains a viable target if sp'2150/75 into May.