Our Gold & Silver Outlook (Hint: It's Alarming)
The Market's Drawing the Next Batch of Suckers In
The First Wave of Earnings Numbers? Very Discouraging
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Welcome back to the grind everybody. Hope you all had a good weekend, and I hope everybody got the trading week started on the right foot. Anyway (and as always) I've got something to say about the market after factoring in today's action, but can I point a couple of things out first?
This morning, Bryan Murphy made a great point about investors habitually choosing between toy companies Mattel (MAT) or Hasbro (HAS) as a cyclical holding for their portfolios, but a general unwillingness to hold two toy names in a portfolio. Ergo, the never-ending question is, which one do you hold? Answer: It depends. Bryan takes a good close look at both names, and picks the best prospect for right now.
This Pullback is More Than 'Just a Little Volatility'
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Well, where do we begin? Although this week didn't start out as a great one for stocks, even after Wednesday's pullback there was still a glimmer of hope for the bulls. After Thursday's damage though, the market sure looks like it's passed the point of no return. Yet...
Yesterday we told you about a couple of technical support levels the bulls couldn't afford to let the market slip under. One of them was the S&P 500's floor at 1551-ish. The other was the NASDAQ Composite's lower 20-day Bollinger band at 3175. Both of those floors were breached today. And now that they've been broken, there's little left for the bulls grab onto to keep things from getting worse.
Hey, Look... The Economy Doesn't Completely Stink After All
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Hey guys and gals, just as a reminder (if you're looking to gamble a bit), Theravance (THRX) will hear from the Food and Drug Administration's advisory panel on Wednesday about its COPD drug Breo.
As I mentioned in Friday's newsletter, this is NOT a final FDA yes/no decision, but rather, a recommendation to the FDA about how the panel thinks the agency should vote on the drug. Funny thing though... the stock's already popped on what the market believes will be encouraging news tomorrow. Bryan Murphy laid it all out - in detail - today, so if you were thinking about tossing that coin, you should check out what he's got to say.