Trucharts.com Markets Update Blog week ending 12/26/2014:
Well now we have the New Year week coming up and markets keep making record new highs. This is the highest number of new record highs hit in one year. DOW and S&P500 are still trending higher. Keep an eye on the 13 and 15 week moving averages for the stock indices and the stocks - these are very critical - you can check these on our site when you click on the week option for period on the stockview.aspx page (www.trucharts.com/stockview.aspx). There was record amount of money put into stock ETFs this past week - check this article - http://finance.yahoo.com/news/u-based-stock-funds-attract-001225961.html; There are technical indicators that look weak - like lower RSI and lower MACD on higher highs - but these are not necessarily pointing to any pullback at the present time. We are still in a seasonally strong period for equities and heading into a New Year - we do not see anything other than some minor pullbacks as we head into the earnings season. Oil seems to be trying to find a bottom here; gold bounced on Friday - we will keep an eye on this - specially due to the turmoil in the currency market in Eastern Europe (including Russia).
We are long USO, AMKR and short AEM. Our target for gold is still 1000. There are several stocks that look strong - here are th symbols and charts -AAPL and more. We are looking to go long AAPL this week. The rules are very simple - DO NOT FIGHT THE FED and STAY WITH THE TREND. Now the Yellen put is in place and everyone does not epect any major change in the Fed' stance this comng year (till at least middle of 2015) - companies revenues are not growing based on the P/E multiples - yet these stocks keep moving higher - the average PE is being stated as low and this is happening based on significant stock buy backs being used by companies to boost their earnings and EPS. But none of these matter, since the belief is that stocks will just keep moving higher. We will stay with the trend until it breaks - (Ms Yellen (Ms Clause) will come save the day).
Here are some other symbols to watch this coming week:
For full disclosure - we are long AMKR, WSM, BIS, CYBR, K and short ALTR, DAL, YHOO, AEM (will close YHOO this week).
We added a special new feature on our site - check it out at: http://www.trucharts.com/multiplestockcharts.aspx (mulitple charts on one page)
Some good reading material: (ADDED ANOTHER GOOD ARTICLE)
http://www.zerohedge.com/news/2014-12-28/line-between-rational-speculation-and-market-collapse
http://www.businessinsider.com/long-term-stock-chart-pe-ratio-2014-10 <<---- added="" br="">
http://www.businessinsider.com/long-term-stock-chart-pe-ratio-2014-10 <<---- added="" br="">
Here is the picture of how to use and access help on our website with any page.
Check out our special subscription offer - no more monthly recurring fees - just $90 for the full year (50% discount)- here is the link: http://www.trucharts.com/truCharts_Services.aspx
Happy New Year to all - and good luck with trading in the New Year.
Trucharts Team
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