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Top Ticker Mentions - 7/20/17

QCOM:
SPLK:
$QCOM $MU $NVDA $AMZN $GOOG $SPLK $AAP $BBY $WBC $EBAY $MSFT $DHI $QQQ $SRPT $SHLD $TMUS $KMI $ABT $MGM $SWKS $TSLA $XBI $XLE $TWTR $GRUB $S
Tech-related tweets pose the highest count, with “Internet Information Providers” being the top tweeted from a “Bullish” standpoint. Top names in that breakdown are:YELP, Z, BIDU, GOOGL, JD, FB, TWTR, YNDX, GRUB, YY, GRPN, and CRTO.
Services are up next. Top names were in the “Specialty Retail, Other”: BABA, ULTA, FINL, KAR, EBAY, APRN, TSCO, GPC, BKS,
Healthcare:
Consumer Goods:
Basic Materials:
For the entire sample size, the top 50“bullish”-tweeted stocks are as follows:
The bottom 50 are:
Caveat, this is as of 7/18/17, so the points might change from day to day.
Table below (zoom in to view).
Similarly, consumer staples have been underperforming the rest of the sectors.
*FinViz data.
XLP weekly.
Another little contrarian tidbit is that the WSJ posted this article yesterday regarding the creation of the short XRT ETF:
1. BBBY / 7/13/17: Some $32.5 call purchases on OPEX of 8/18.
2. BURL / 7/13/17: Calendar of Aug 90/Sep 100 calls.
From a monthly chart perspective, it’s obvious to see the big underlying trend = up. We’re approaching the “overbought” RSI [14] territory but as a reminder, overbought can remain overbought for an extended period of time (see 2013-2014 timeframe as an e.g.).
The number of SPX stocks trading > 20, 50 and 200 EMAs remain in mid-line. No extreme turning points to take a quick trading advantage yet.
While the Dow Jones, S&P 500 and Nasdaq indices all closed above their respective 20 weekly moving averages, the Russell 2000 did not. However, it has a tendency to close below and overshoot before turning back up. 3/4s closing above the 20 seem positive.
Remember all the “rah-rahs” when the VIX slipped below $10 to decade low prices? Well, that was quick.
The Euro has been gaining ground since hitting the low against the USD early 2017. It seems poised to break to higher prices.
TLT closed 2% higher this week. Let’s observe its price reaction where the blue trendline and 50 weekly moving average meets.
High-yield keeps ploughing higher albeit a slowing pace vs. TLT (see TLT:HYG ratio chart at the end of post).
Emerging market debt remains close to inception highs.
No wonder technicians always tell us to “stay away from flat moving averages.” It’s getting closer, though. Crude oil has been trading in the $40-55 range for a good 1.5 years now. Great for my pocketbook!
Gold and silver made a comeback with the VIX and TLT this week.
Emerging markets continue to hold north of its important moving averages.
Japan closed at its highest level since ETF inception. Not highest price reached but almost there.
This was a “big news” week for Brazil re: corruption scandal involving the President. It still managed to close the week above the 50 and 200 weekly moving averages.
Solars might start to shine soon. However, it’s still far below its flat 200 weekly moving average.
Yet another horrendous week for retail stocks with most of the CEOs saying the word “omnichannel.” AMZN is eating all brick and mortar retailers’ shares.
The TLT:HYG ratio ought to be watched. If we head higher, stocks might get a trashing.
The TED spread keeps narrowing. That’s good, right?
It’s the month of May, by the way and the past few summers have nothing been short of “drama.”

Summary/Charts Review

The S&P 500 fell 31 bps on Friday, yet again rejecting the 2,140 mark of resistance/support catalyst by FBI reopening probe on Hillary Clinton’s emails. We are yet again near oversold RSI [5] conditions (currently at 27.55, with anything < 20 signaling a “buy”). We closed the week down 69 bps and under the 20 WMA. We are currently down 193 bps for the month of October. Monday closes the month off.

$DIA > $QQEW > $SPY > $QQQ > $RSP > $MDY > $IWM > $IWC in that order, indicating that it was a clear risk-off week.
TLT closed just above the 20 WMA. Bonds had a lousy week as well with TLT down over 215 bps. Unsurprising as the probability for a rate hike is over 70% at the December Fed meeting.
Green US sectors: $XLP $XLU $RYT $RYU $RHS $XLF $XLI. $IBB $XBI $XLV were the worst. Financials have been trading extremely well off decent earnings and improving margins as the yield curve is the steepest in a while.
The green stock industry ETFs: $XAR $COPX $PPA $SKYY $IYZ $KRE $CARZ $REM $SLX $PSP $KOL $SOXX $KBE $HACK $NLR.
Commodities: $JO $COW $JJC $DBB $PPLT best. $GAZ $UNG $USO worst.
International ETFs which are green: $NGE $EPOL $ECH $EWO $EUFN $EWP $DXJ $ EWI $EWJ $EZU.
$FXE is up 94 bps for the week. $BZF is now the worst from being the best from last week indicating that Brazil’s outperformance might pause.
Notable Links/Events:

1. TD Ameritrade (AMTD.O) has agreed to buy Scottrade for $2.7 billion in a deal that would bring together two of the biggest U.S. discount brokerages, but the deal is expected to face scrutiny from regulators. E*Trade Financial Corp (ETFC.O), another discount broker, said in July that it would buy online brokerage OptionsHouse for $725 million, while Ally Financial Inc (ALLY.N) purchased TradeKing Group for about $275 million a month earlier. TD Ameritrade’s acquisition of Scottrade combines two of the United States’ “big five brokerages,” the others being Charles Schwab...


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