Fell 2.7% yesterday. Ballie Gifford Rated number 1 trustnet.
Fidelity American rated number 80 !! Fell 2.86%
Old mutual North American Fell 2.57% five year chart looks just as good as Ballie. rated Number 7 by trustnet.
Maybe Good idea next time sterling has a big Fall against $
There is definitely a fire at FireEye Inc (NASDAQ:FEYE). This internet security firm posted earnings that beat expectations but lowered guidance going forward. The market is punishing high beta stocks like FireEye Inc if they do not have 100% amazing results, all the way around. Any small slip up is being used as a reason to dump the stock and rotate money into safer equities that pay dividends. This rotation of capital is punishing FireEye. This stock hit a all-time high of over $97.00 per share in early March 2014. Today, less than two months later, FireEye Inc is trading at $27.36.
So the big question has to be asked, where is FireEye Inc (NASDAQ:FEYE) heading? Is it going lower, higher or staying in this range. This is one of the toughest charts I have had to read in quite some time, mainly because FireEye has never traded this low since it debuted on the NASDAQ. The easy call is the long term. Everyone knows that internet security and software is where the next epic war will be fought. This puts FireEye Inc in a great position long term to excel and grow. However, in the short term, if the markets continue to be anti high beta names, it could float lower. While I like the play and have some shares I would encourage investors to look at the longer term view to see the value here. Note the sector FireEye Inc is in and realize down the road that every big battle will be eventually fought in cyberspace.
InterCloud Systems Inc (NASDAQ:ICLD) is a small company in a big sector. The sector is telecom and cloud based services. This is a growth stock which has shown great energy through acquisitions. Over the last year it has started to reap the rewards. While the latest quarter showed a loss, not nearly what investors were expecting, it is important to remember that any stock which is buying companies, will ultimately take a hit as they incorporate those businesses into their own. The key is, when the dust settles do they show solid growth. That is what we are waiting to see on InterCloud Systems.
InterCloud has some impressive technology offerings going forward. The stock has fallen sharply of late after some bad press. Just today, the CEO Mark E. Munro wrote an open letter to the shareholders. While the contents of the letter were nothing amazing, it is good to see a CEO who communicates with shareholders. This is what you want going forward if you were to invest.
In January, InterCloud traded as high as $19.00 before collapsing down to its current price of $4.12. While I have not bought yet, I am beginning to get interested. I plan on doing some more research and then coming to my final decision. At a market capitalization of under $50 million, and the possibility of turning a profit in a year or two, this may be a rare opportunity to buy a stock on the cheap.
Adobe Systems Incorporated (NASDAQ:ADBE) has a classic bear flag on the daily chart. This is coming off of a reversal candle from last week. These signals show a very bearish setup for the coming days. Also, please note that Adobe is flat on the day while the markets are nicely higher. This is another weak signal to pay attention to called relative weakness.
Look for a down move into next week the potential to reach the $61.00 level on a larger drop in the markets.
Is this a real rally or a fake rally? This is an important question when you are thinking about buying or selling stock. The question can be answered very simply. All you need to do is focus on the S&P 500 high at 1,850.84. So far the markets have not taken out the January 15th, 2014 high (on an end of day closing basis). As long as this is not taken out then I would remain extremely cautious on this market. It may just be a reflex buy the dip bounce as the small investors jump in while the large institutions sell into them. We should know within days.
Stocks are rebounding today after an ugly decline yesterday. The S&P 500 has gotten back about two-thirds of the losses in total, by the early afternoon. This is the classic mentality of buy the dip and has become common place in the last few days. After-all, average investors have been programed to buy every minor dip, no matter what...or risk missing the next up move.
While many believe 2014 will be another year of double digit gains in the stock market, I for one do not. I believe this market is setting up for an epic collapse of 30% between 2014 and 2015. Why? The three main reasons are listed below.
1. The Federal Reserve has started to make it clear that they do not believe QE (printing money) is helping the recovery anymore. Essentially they look at it like it may be hurting the economy in the long run (inflation issues). There is a mega disconnect between investors and these comments. The market still believes the Federal Reserve will not let the economy or the stock market take any sort hit. QE has been the main culprit for the epic run in the stock market over the last few years. Removal of this, leaves a drug addict without its precious drug.
2. Earnings growth has been small and mainly due to stock buybacks. In simple terms, companies have been buying back shares which increases earnings per share without actual profit growth. This can be seen as revenue numbers have remained unchanged or dropping in the last year. In recent days, constant warnings from retailers like Lululemon Athletica inc. (NASDAQ:LULU) and Sears Holdings Corp (NASDAQ:SHLD). In an economy that is supposed to be growing, this raises major concerns.
3. The cycles are aligning. First, compare the time period between the 1993-4 to the epic Dot.com collapse. Then take that same time frame and note the collapse that started in 2007. Then take that same time frame and add it to 2007 and look at what you get. You get 2014-15. This is scary as the cycle is telling us something big is on the verge. As if that was not enough, take a look at the chart of the Dow Jones Industrial Average and compare it to the Dow chart from 1928-30. They are almost identical. In 1930 the stock market took a 30%+ hit.
The bottom line is obvious and must be expressed. This market has major risks and it is wise to be on the careful side.
This morning, the leading oil refinery stocks are trading sharply lower at the start of the day. Over the past few days the price of oil has rebounded and often higher oil prices will hurt the refinery stocks due to contango. Some of the leading oil refinery stocks that are falling today include Phillips 66 (PSX), Tesoro Corporation (TSO), Marathon Petroleum Corporation (MPC), and HollyFrontier Corporation (HFC) just to name a few companies in the industry group. Swing traders should watch for near term daily chart support for HFC stock around the 443.70 level. This is an area where the stock was defended by the institutional money and should hold up when initially retested.
Last Wednesday, October 31st, 2013 the Federal Reserve released their FOMC policy statement. The market that morning hit a high on the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) of $177.51, before reversing dramatically.
This high of $177.51 in the market has been hit each of the last two days. Each time it has hit this level, major selling pressure has come in as institutions hammer the markets down. This is classic distribution and a warning sign to all average investors who are looking to buy the market in this range.
When all is said and done this tells investors that unless the market can close above that pivot high of $177.51, downside should be favored. Ultimately, if the institutions are dumping, be wary.
This morning, leading technology stock Google Inc (NASDAQ:GOOG) is declining at the start of the trading session. Day traders can watch for intra-day support around the $1018.00 level. This is a spot on the chart that signals a potential intra-day bounce.
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