November 4 Review + Watch List Updates

 Market Overview for 11/4:


Once again the energy sector weighed on the major averages, oil sank to as low as $75.84 a barrel in New York.  After hours trading witnessed, security software maker FireEye (FEYE) dropping, the reverse for Jazz Pharmaceuticals (JAZZ) as it was up after hours. It reported EPS of $2.23 vs. estimates of $2.22.

Shares of HomeAway (AWAY) were down after it beat on Q3 but offered weak guidance for Q4. TripAdvisor (TRIP) fell hard after badly missing analysts’ estimates. The company reported EPS of 48 cents vs. estimates of 60 cents.

S&P500 (Large Cap) Gainers (over the last month)


The reason I like to sort by the 1 month change is to get a picture in my mind if something is continuing on or just bouncing. For instance the first item CLF is in a short term uptrend however, the two longer term trends are down. The question to ask is this merely a correction within the downtrends or the beginning of something new. Obviously you cannot tell from looking at the above spreadsheet, but perhaps you would like to take a look.  Not my cup of tea.


Sector Watch:

Screen Shot 2014-11-04 at 7.55.37 PMAgain sorting by the 21 day change I see the usual suspects; REITS, Biotech, Utilities. Of those the Biotech’s are backing off a bit. Coming into a buying area?


Watch List Updates:

As is usual for a Tuesday the “50” section of the watch list has been updated. Below note there are 11 new additions, along with their respective sectors. I have colored and bold print those that repeated. There are only 2 Electronics and Banking.


Sorting the entire “50” list, the most represented sectors are:

  • Computer Software & Services – (6)
  • Diversified Services                  –  (8)
  • Drugs                                         – (10)
  • Electronics                                 – (7)
  • Internet                                       – (5)

The watch list spreadsheet only shows two entry/exit methods. Welles Wilders Stop and Reverse SAR and Chuck LeBeau’s Chandelier. As of last evening only the following were not long by one or both methods.

AFSI AmTrust Financial Services Inc. Insurance
ATHM Autohome Inc Internet
FB Facebook, Inc. Internet
FL Foot Locker Inc Consumer Non-Durables
SLXP Salix Pharmaceuticals Ltd Drugs
THRM Gentherm Inc. Automotive
VEEV Veeva Systems Inc Computer Software & Services

Perhaps not a bad place to look for potential opportunities if you are a stock as opposed to and ETF or fund person.

Note: The Google Spreadsheet last price column no longer appears to be working. I am putting in the close. They are upgrading their spreadsheets and perhaps when that happens the last price will reappear.

Today’s Reports and Earnings:

Talking  Points and Lower Oil Prices: Will People Feel Better About Economy?:

A breakdown of how the market performs after midterm elections (MarketWatch)
Stocks Just Stormed Back Into the Lead Against Bonds (Quartz)
Inarguable End To Decoupling (Alhambra)
Positively Surprising: The Economic Story You’re Not Hearing (Fox Business)
When Stock Buybacks Are Not a Waste of Money (H B R)
Mapping The Changing Face Of The Lone Star State (FiveThirtyEight)
Apple borrowing billions to pay shareholders is everything wrong with capitalism today (Washington Post)
How Wall Street’s Favorite Politicians Are Taking Apart Dodd-Frank, One Piece at a Time (Slate)
Despite Rally in Stocks, Yields Still Low and Speculators Still Short Treasuries (GaveKal)
States That Make Voting Super Simple–or Stupidly Hard (Bloomberg)
Is the U.S. economy in a permanent slump? These economists fear it is (LA Times)
The Takeaway From Six Years of Economic Troubles? Keynes Was Right. (Anatole Kaletsky)
Uber, Lyft, and Liability (New Yorker)
Romer and Romer vs. Reinhart and Rogoff (MoneyBeat)
An Opportunity in Precious Metals Stocks? (A Wealth of Common Sense)

Lower Oil Prices: Will People Feel Better About Economy?

Have a Great Day!