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Trade Idea of the Day Presented by: Wall Street Examiner

Cycle Screens Plunge Along With The Market Averages

Cycle screening data weakened on Thursday. 8 of the 9 measures weakened. The aggregate measure fell back into negative territory after just touching its declining 29 day MA. This makes another lower high in a series going back to early March. The cumulative line also downticked and is on the... Read More

"The Selling Just Won't Stop" - Smart Money Sells Stocks For Near Record 11th Consecutive Week

Last week when BofA reported that "everything is being sold" as its smart money clients (institutional, private and hedge funds) dumped stocks for a whopping 10th consecutive week, it said that "BofAML clients were net sellers of US stocks for the tenth consecutive week, in the amount of $3.98bn. Net sales last week were the largest since September, and the fifth-largest in our data history (since 2008). Since early March, all three client groups (institutional clients, private clients and hedge funds) have been sellers of US stocks."...

Stocks Have Gone Sideways While Earnings Have Tanked

Chris Ciovacco:  If stocks are driven by earnings, then it would be logical to assume that during a period of sideways action in equity prices that earnings would also remain basically unchanged. According to David Stockman’s Contra Corner, earnings have been far from stable over the past seventeen months: GAAP earnings of the S&P 500 in November 2014 were $106 per share on an LTM basis compared to $86.44 today. So earnings are down by18.5%, meaning that the broad market PE multiple has escalated from an already...

The Obvious Yet Simple QQQ Clue

Sometimes, investing can be so simple … if we don’t complicate things.Here is the most basic of ‘indicators’. It has a 100% accuracy rate since the start of the 2009 bull market. In fact, it’s so basic, calling it an indicator is probably overkill.Open chart gaps. The gaps we’re talking about are price gaps caused by overnight losses.Our March 7, 2013 article “QQQ – Open Chart Gap Magnets” noted that: “Open chart gaps have acted as a magnet for the S&P 500 and Nasdaq, 100% of the time since 2010. The 2010, 2011, and 2012 declines all left open chart gaps … and all of them got filled.“Over three years later, the accuracy rate is still 100%...

China's leaders are blowing their last chance to avert an economic crisis

Reported non-performing loans are 6pc of GDP but not much is reported. The figure for loans "potentially at risk" has soared to 15.5pc or $1.3 trillion. The IMF warned that losses could amount to $756bn. The Fund warned of an "abrupt repricing of credit risk", followed by a "credit crunch", ending in a "disorderly deleveraging scenario with severe negative implications for financial stability."Debt in China is still growing faster than the economy...

NAHB: Builder Confidence unchanged at 58 in April

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 58 in April, unchanged from 58 in March. Any number above 50 indicates that more builders view sales conditions as good than poor.From the NAHB: Builder Confidence Holds Firm in April. Builder confidence in the market for newly-built single-family homes remained unchanged in April at a level of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).“Builder confidence has held firm at 58 for three consecutive months, showing that the single-family housing sector continues to recover at a slow but consistent pace,” said NAHB Chairman Ed Brady, a home builder..

Kocherlakota on negative supply shocks

Marcus Nunes directed me to an article by Narayana Kocherlakota, discussing the impact of negative supply shocks:Let’s consider three ideas that have been popular on the campaign trail.Increasing the minimum wage. What if Congress decided to increase the federal minimum wage by 10 percent a year over the next five years? Typically, economists would be concerned about the impact on employment: Higher wages might lead businesses to employ fewer workers. With monetary policy out of the picture, though, the move might...

What Stocks Captured Financial Advisors’ Attention Last Week?

The earnings season has kicked off recently and investors are focusing their attention on the results that companies report for the last quarter. Researchers at TrackStar, which is the official newsletter of Intuition, a division of InvestingChannel, are following closely the stocks that financial advisors are most interested in, based on the tickers that advisors are looking up. In the week between April 17th and April 23rd, financial advisors kept in the spotlight companies that reported their financial results, although they were also interested in companies that didn’t report their results, but were trending for different reasonsn...

New Home Sales decreased to 511,000 Annual Rate in March

The Census Bureau reports New Home Sales in March were at a seasonally adjusted annual rate (SAAR) of 511 thousand. The previous three months were revised up by a total of 23 thousand (SAAR). "Sales of new single-family houses in March 2016 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is...

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