Financial Market Analysis
By Shawn R. Carpenter
Thursday, March 26, 2009
Biotech & Healthcare Equipment heading lower?
Biotech and Healthcare Equipment groups might be in for a hard landing. Price action on a number of biotechs as well as some other names do not look good and are prime for some shorting. The key right now is watching the SPX at 840ish level. Resistance at this level and we head lower.
¶ 8:01:00 PM 0 comments
Healthcare Equipment:
MDT (Medtronic Inc.)
COV (Covidien Ltd.)
BAX (Baxter International)
ZMH (Zimmer Holdings)
BCR (CR Bard)
Biotech:
AMGN (AmgenInc.)
GILD (Gilead Sciences)
CELG (Celgene Corp.)
Tuesday, March 17, 2009
SPX Update 3/17/09
Regarding the SPX, the recent rally has almost reached a key resistance level just shy of 800. This resistance area should be part of a downward channel, thus a retest of lows or even further low, which is more likely. While there has been some promising news on the economic front and some earnings calls, there is still a lot of "shoe dropping" to be seen. For one thing, there are many BKs within the commercial REITs space and others.
To be safe, a stop/loss level of 800 should be considered, but I do not think there will be a rally much further than that. Some sideways action beyond the 800 level, and a slight dip in the coming months would suggest a Reverse Head and Shoulders pattern having been formed. ¶ 7:56:00 PM 0 comments
Regarding the SPX, the recent rally has almost reached a key resistance level just shy of 800. This resistance area should be part of a downward channel, thus a retest of lows or even further low, which is more likely. While there has been some promising news on the economic front and some earnings calls, there is still a lot of "shoe dropping" to be seen. For one thing, there are many BKs within the commercial REITs space and others.
To be safe, a stop/loss level of 800 should be considered, but I do not think there will be a rally much further than that. Some sideways action beyond the 800 level, and a slight dip in the coming months would suggest a Reverse Head and Shoulders pattern having been formed. ¶ 7:56:00 PM 0 comments
Wednesday, March 11, 2009
New Ideas for a changing consumer...
Hello All... Sorry I have not been posting for awhile. I was busy speaking with some funds regarding my potential to work with them using my ideas and strategy. If anyone out there is interested, I would love to sit down with you and chat about my ideas and performance.
OK, we have had quite a start to 2009. The bearish sentiment has there, yet I think the markets will continue to slide, as the caution and concern about the consumer has only just started. While we hear week after week about job losses, the deflationary environment will only continue to grow. Each new segment of what is happening, whether it is home foreclosures, jobs, consumer spending, corporate earnings.. these things are all food for one another and are propelling the economy into a tailspin.
Here are a few ideas I see out there today:
Auto Nation (AN) is looking potentially good here for a few reasons. Potential Reverse Head and Shoulders pattern, although it is near the peak of a bearish channel. I like this simply for the fact that that while fewer new cars are being purchased, consumers will look for other ways to maintain cars. AutoZone would be another one to watch.
Spot Gold is also looking attractive down here. The rise above the broadening pattern in 2009, and subsequent new support should be a clear buy signal.
CVS looks badly oriented, as a recent break in a bearish wedge pattern should call for further downside. Not sure how many consumers out there will end up buying purchases from their stores, so it could be a redundancy out there given that people will pick up what they usually buy at CVS at the supermarket.
Will the consumer go out to eat more often? Not sure, as DRI is about to head lower.
Gamestop (GME)... are people buying more games? I think a potential 25-50% haircut is in the offering here....
Also, I see some other names that look weak.... namely, WRC....
and ROP....
¶ 3:50:00 PM 0 comments
OK, we have had quite a start to 2009. The bearish sentiment has there, yet I think the markets will continue to slide, as the caution and concern about the consumer has only just started. While we hear week after week about job losses, the deflationary environment will only continue to grow. Each new segment of what is happening, whether it is home foreclosures, jobs, consumer spending, corporate earnings.. these things are all food for one another and are propelling the economy into a tailspin.
Here are a few ideas I see out there today:
Auto Nation (AN) is looking potentially good here for a few reasons. Potential Reverse Head and Shoulders pattern, although it is near the peak of a bearish channel. I like this simply for the fact that that while fewer new cars are being purchased, consumers will look for other ways to maintain cars. AutoZone would be another one to watch.
Spot Gold is also looking attractive down here. The rise above the broadening pattern in 2009, and subsequent new support should be a clear buy signal.
CVS looks badly oriented, as a recent break in a bearish wedge pattern should call for further downside. Not sure how many consumers out there will end up buying purchases from their stores, so it could be a redundancy out there given that people will pick up what they usually buy at CVS at the supermarket.
Will the consumer go out to eat more often? Not sure, as DRI is about to head lower.
Gamestop (GME)... are people buying more games? I think a potential 25-50% haircut is in the offering here....
Also, I see some other names that look weak.... namely, WRC....
and ROP....
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