A couple of items for you to tune in to.
First up is an interview from Eric King of King World News done last week with the always insightful and never afraid to ruffle some feathers Hugh Hendry of Ecletica Asset Mgmt. You can click here to hear the interview in its entirety.
Next up is a great post from Getchen Morgenson today in the NY Times entitlted Flawed Paperwork Aggravates a Foreclosure Process. I encourage you to read it, especially those among us who still believe we live in a land where laws of the land have become optional for many.
Given that American Express, ticker AXP is in the news today. I thought a quick look at its chart might be in order.
Below we have a 5yr weekly view of American Express.
Pay special attention to the neckline of that pattern which doubles as the lower channel boundary.
Given all this, if roughly $37-37.5 gets taken out, the two downside targets on AXP are $25 and cough.... $7.50, yes not a typo 7.50.
Johnny, lets beat them to the punch and cue the laughter.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $22.52
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $92.15
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 93.48 stop @ $93.48
Short 1 unit Amazon ticker AMZN @ $160.00 stop @ $162.11
Short 1 unit Baidu ticker BIDU @ $103.45 stop @ $105.11
Short 1 unit of Apple ticker AAPL @ $287.65 stop @ $290.61