Oil had a massive surge on Friday - mostly due to short covering. However, it's the first major short covering rally we've seen since the beginning of the oil crash last summer. Can this help form a bottom in oil?
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The company misses analysts estimates, but the stock is surging almost 5 percent in early trading. Sometimes you just can't figure Wall Street and how the 'smart' money decides to game a stock. That's why I say the only real game for ordinary investors is to buy and hold for long periods of time to overcome the gyrations of the market. Buy good companies and hold. Easy money.
The CEO couldn't stand the heat any longer, so he got out of the kitchen, stepping down from the post. The stock is soaring in early trade, but note that the 50 DMA still looms. So, does this change anything? Why is the stock up so much? Sometimes, people are just looking for a reason to buy a beaten down name.
Falling with the price of oil, COP falls towards the bottom of the recent range for the third time. Will the stock fail at 61 this time? That number is important to say the least. Below that...who knows.
A second attempt at a break above 540 has been rejected, again. This will be the third time the stock drifts down towards 500 - can the third time be a charm for the hold? Watch the recent lows.
The Dow swooned into the close, settling at the lows of the day. Sellers popped up at end of day, eager to close positions.
Starting today, I'm going to use the ETF proxy USO to demonstrate oil prices. This 3 percent move brings oil below 45 dollars a barrel and the USO below 17. With the commodity so clearly below the 50 DMA, how can anyone be calling out a bottom like so many that are on the television? What do the talking heads know anyway?
Apple easily smashed the most optimistic analysts estimates for earnings after the bell yesterday, propelling the stock higher and towards all-time highs. The stock is within a few points of a new record. Also reported yesterday, the company now has 178 BILLION in cash on its books. It can buy all but 20 of the other 500 companies in the SPY. Just incredible.
All the major averages are now locked in trading ranges with wildly volatile trading sessions each day. I will say - tops are made this way, not new highs. Can this bull market endure this choppy sea?
After the recent rally, a two day sell-off once again takes Google below its 50 DMA. Can the stock survive the profit takers and regain the thin blue line?
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