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Twilight of the petrosaurs

January 29, 2015

Crude oil fell another 3.5% on Wednesday, matching the lows set earlier this month, and churning up a total slopstorm for the big energy producers. The fossil fuel economy appears... Continue Reading »

Switzerland exposes the central bankers

January 28, 2015

It’s been a week now since the Swiss National Bank job, a clever heist in which a pack of central bankers in Bern decided to steal from the rich and... Continue Reading »

It's a Swiss Miss

January 16, 2015

Global volatility shifted into overdrive Thursday following a surprise decision by the¬†Swiss National Bank¬†(SNB) to scrap its minimum exchange rate. The development led to massive moves in foreign exchange markets... Continue Reading »

Daily Issues

Rumored Policy Changes Trigger Late-Day Rally

January 29, 2015

Stocks closed higher on Thursday amid a very quiet day for news flow. Shares started in the red but gradually gained some steam and then shot higher in the last hour after a rumor swept the Street that two prominent senators were planning to introduce legislation that would allow U.S. companies to repatriate cash home from overseas after a flat 6.5% tax rate, rather than the usual rate in the upper 20% area.

The main debate focused around the meaning and implications of the Wednesday statement from the Federal Reserve after its monthly meeting. Kind of hard to believe, but economists and analysts are arguing over whether the statement was dovish or hawkish. That's ridiculous; it doesn't matter. The Fed has made clear that it's going to be on hold for a long time, which means no rate hikes this spring or summer, in my opinion.

In today's Trader's Advantage, I'll take a look at the real news that moved stock prices today and provide my latest recommendations for our Buy List. We entered one new trade, I'm canceling a couple of unfilled orders, and I'm revising several of our targets higher.

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Trades Update

January 28, 2015

Apple (AAPL) gained 5.6% on Wednesday after reporting excellent earnings -- but it was an erratic and ultimately dismal session for most other stocks. The latest FOMC announcement had little effect on Wall Street this go-round, while some unsettling new developments out of Greece and yet another tumble for crude-oil prices were blamed for undercutting investor sentiment.

In today's Trader's Advantage, I'll share my latest recommendations for our trades, including one that we entered today and an unfilled buy order that I'm canceling. I'm adjusting the parameters for the balance of our current holdings, and I have a couple of new trade ideas as well.

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Trades Update

January 27, 2015

Stocks traded lower today following a round of very lackluster earnings and forward guidance, including from bellwethers Caterpillar (CAT) and Microsoft (MSFT). A weak durable goods orders report also weighed on the indices, along with concerns about the election in Greece and the reaction of the eurozone.

Volatility, as measured by the VIX, was up as much as 18% today, and our stocks got tossed around in the mix. Fortunately, with protective stop losses in place, we closed out one position for a small gain and one at breakeven. I still see plenty of opportunity ahead, including two new recommendations for you

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Poll

Which of the following sectors of the market do you think will outperform for the balance of 2014?

  • Utilities
  • Energy
  • Healthcare
  • Technology
  • Financials
  • Industrials
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