Category Archives: Sectors

Call Me Boring, But…

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Those who don’t like my writing style may already call me boring (or worse), but as far as stock holdings go I willingly take on that description.  If you’re looking for words about yesterday’s FOMC meeting, you won’t find them here.  There are plenty of people picking that thing apart and trying to make chicken salad (news) out of chicken shit (a non-event).

I am not going to go on about the precious metals’ big rip yesterday because that is for casino patrons to get excited about.  I’ve expected the sector to bounce from oversold conditions.  When it takes out real upside parameters (that NFTRH will surely manage) we’ll amp up the hysterics (not really).

The stock market?  It’s scenarios are Thing 1 and Thing 2.  The 1st Thing is to resume upward now and bring on the climactic suck in sooner rather than later.  The 2nd Thing is the healthier one, where the market corrects now and makes new highs and sucks ’em in later.  I’ve favored Thing 2, but now it is time to watch short-term events and do what the market says.  Okay, before I get off track, on to the boring stuff…

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Oil’s Steady Drip

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I’ve been quite obsessed with oil for months now, although it’s challenging, because black gold itself has been absolutely range-bound for no fewer than three solid months now. The good news, I think, is that the opportunity for a break is getting closer, as shown below. We must close beneath that lower red line, however. The cartel is doing a yeoman’s job of keeping the price at more-or-less $54 for countless weeks.

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Biotechs Breaking Out

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By Harry Boxer
Here are four biotech stocks breaking out on positive developments related to their drugs.
bluebird bio, Inc. (BLUE) has popped about 20 points in a week to Wednesday’s close of $92.80.  On Wednesday alone, it rose $5.15 on over 1 million shares traded, closing just a dime off the high. The company announced publication of a case study on the first patient with severe sickle cell disease treated with its gene therapy product.  The stock has far surpassed our initial target of $85 and is closing in on the next target of $95. There’s a possibility it may run up to the $106-7 range, last reached in October 2015, which is the new, near-term target. Short interest of 12.9 times its average volume could fuel the move as shorts cover on an advance.
Esperion Therapeutics, Inc. (ESPR) followed through for another $4.23 to $30.44 Wednesday on 2.2 million shares.  Just a month ago, the stock was under $11, but investors appear to be hopeful that the biotech company’s lead drug for treating high cholesterol is more likely to win approval under President Trump.  The stock is a little long in the tooth short-term and may need to rest and pullback before its next move.  However, after the stock dropped from a high of nearly $119 in March 2015 to under $10 in late June 2016, it based for 7 months, and has now broken well out of that base and is looking higher.

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Retail Roundup

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Being an equity bear has been brutal for, oh, nearly eight years now. With the S&P up about 250% since bottoming in March 2009, equities have been, on the whole, raging higher, with some sectors in particular benefiting tremendously from the Trumpgasm. One area, though, seems to be recognizing a bitterly cold chill of reality, and that is retail.

Not everything retail is weak, of course, Amazon has had an astonishing run (and we’ll see if it holds together when they report next week), and some stocks such as Autozone (AZO) and O’Reilly Auto Parts (ORLY) have cranked out multi-hundred percent gains for years now. But many retail companies, particularly those having to do with clothing, have been getting whacked. Take, for instance, Abercrombie & Fitch, which I’ve picked on endlessly: it is actually lower than it was at the greatest depths of the financial crisis. For how many stocks could you make that statement?

0128-ANF

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