I recommended Express Scripts Holding Co (ESRX) on December 14 last year. It was just announced that ESRX will be acquired by Cigna Corp (CI). The details can be found here on CI's web site...https://expressscriptsholdingco.gcs-web.com/news-releases/news-release-details/cigna-acquire-express-scripts-67-billion. Express Scripts Holding Co (ESRX) daily The price of ESRX is up approximately 14% from my recommendation. Although CI is trading near support (below) I am recommendi … [Read more...]
[Trade alerts] Interest Rates, Financials and Weed
Equity volatility is still high with large daily and intraday swings in both directions. I expect this to continue until bonds find and test lower support. iShares Barclays 20+ Year Treasury Bond Fund (TLT) weekly After breaking intermediate support (green upwards sloping trend line) in early February and blowing up equities TLT is likely to trade lower into the 115 price level, the next support zone. If this level holds I would expect equities to benefit. SPDR's S&P 500 T … [Read more...]
Monday market update
Price action last week was positive with most major indexes closing higher than the previous week. The week started out a little rough with Tuesday and Wednesday selling off then a big push higher Friday afternoon. I still expect more back and fill with testing of the SPY rising support zone that held the weekly close during the big dump three weeks ago. This support zone is represented by the upwards sloping light blue line on both the weekly and daily charts. This trend line dates from … [Read more...]
Mexico
It all began on Friday, February 2nd. That was the day of the first big sell off. The low that day on SPY was 275.41. Price has since round tripped to almost the penny of that low with a high of 275.32 last Friday, closing at 273.11. SPDR's S&P 500 Trust Series ETF (SPY) daily I was surprised at the speed of the "correction" and I'm surprised at the speed of the "recovery". I expected more back and fill, more testing of the lows. Maybe we will get that this coming week. Volat … [Read more...]
[Trade Alerts] Unicorns
Last weeks price action was insane, not normal, scary and I hope it's close to being over. If this was normal no one would invest in the markets. The media has been trying to figure out what is causing the extreme volatility. Maybe they will figure it out someday...maybe. I think the Unicorns did it. The speed of change was what surprised me. On Friday the Dow moved from down 500 to even in less than 30 minutes. It took 10 days of trading to lose 47 days of gains in DIA, the ETF for the … [Read more...]
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