Pentagon contractors rev their engines amid new war rumors

August 21, 2014

Now that there is a hint of war in the air again, those Pentagon contractors in the iShares  Aerospace/Defense  (ITA) exchange traded fund are roaring back. If it weren’t for... Continue Reading »

Smarter consumers are dragging down retail sales

August 19, 2014

Cornerstone Macro analysts were out with a fascinating report this week that tries to explain why retail sales growth is stagnating despite the improvements in hiring and the economy. The... Continue Reading »

AOL beats, guides up and crows, "You've got buybacks!"

August 7, 2014

Some good earnings news emerged Wednesday from fallen dot-com  star  AOL  (AOL), which reported a top- and bottom-line beat for Q2 as well as announced a $150 million buyback program... Continue Reading »

Daily Issues

Trades Update

August 26, 2014

The bulls weren't going to rest without a close above 2,000 for the S&P 500. Buoyed by a better-than-expected consumer confidence reading for August (92.4 versus the 88.3 consensus), the broader market reveled in the 11th positive session in the past 12.

As August winds down, I think there are still short-term bullish opportunities to be had ahead of the September seasonal slump, and I brought you one today earlier in the session. I give you my target for that new trade, along with a review of our other positions.

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S&P Touches 2,000

August 25, 2014

Stocks finished higher but off their best levels today in a quiet, low-volume, low-volatility, summer day kind of session. The S&P 500 briefly rose above 2,000 for the first time -- cue the trumpets -- before slipping back into the 1990s.

We took advantage of the surge by selling our SPDR Dow Jones Industrials (DIA) calls for a 61% profit and our SPDR Industrials (XLI) common for a 5.9% profit. It's great when a plan comes together. And we've got more to come.

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Trades Update

August 22, 2014

It seems like nothing can stop the bull run of the past nine sessions but today's trading was all about built-in expectations for Fed Chair Janet Yellen's speech, which didn't exactly clarify the Fed's stance about the state of the economy, or its interest rate intentions. The market reacted by drifting sideways after rebounding from an initial 50-point drop when the speech was released.

We saw some strength in our names, with Apple (AAPL) hitting its initial profit target. In this issue, I give you the next level I expect AAPL to hit, along with a few adjusted targets and stops.

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With the markets trading near all-time highs, where do you think the S&P 500 will be at the end of the year?

  • 2,100 or greater
  • 2,000 - 2,100
  • 1,900 - 2,000
  • 1,900 or lower