After a bit of positive (or more like the lack of negative news), shares in Europe are rallying on Monday. The move higher is led by the financials, which have been the cause of the drubbing the region has taken.
If you are feeling a bit aggressive this morning and feel the rally will continue there is an ETF made just for you - the iShares MSCI Europe Financials ETF (EUFN).
If you prefer to simply build a new position in the region I would suggest the Vanguard European ETF (VGK) with a dividend yield of 5%.
Personally I think it may be a little early for both ETFs as long-term investments.
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
Monday, September 26, 2011
Friday, September 23, 2011
Stocks Find a Bottom and Gold Capitulates
Even as the news remains negative and we head into a weekend, stocks are holding onto modest gains of 0.5% with 30 minutes left in the week.
My gut feeling when the market was down 2% this morning was that we hit an intermediate-term low as the capitulation soared. I felt the same way in regards to gold mid-day and sent out a Tweet from @MatthewMcCall that a buy at $159.25 on GLD was a good strategy. GLD continues to trade near the $160 level heading into the close. This looks like a good price to add to a position or begin building a position.
Another longer update this weekend.
Email info@pennfinancialgroup.com to be added to our FREE Email Alert list.
Matt McCall
My gut feeling when the market was down 2% this morning was that we hit an intermediate-term low as the capitulation soared. I felt the same way in regards to gold mid-day and sent out a Tweet from @MatthewMcCall that a buy at $159.25 on GLD was a good strategy. GLD continues to trade near the $160 level heading into the close. This looks like a good price to add to a position or begin building a position.
Another longer update this weekend.
Email info@pennfinancialgroup.com to be added to our FREE Email Alert list.
Matt McCall
Video of CNN Interview on 9/23/11
Link to my interview on CNN this morning regarding the market sell-off.
http://cnn.com/video/?/video/bestoftv/2011/09/23/am-matt-mccall-markets.cnn
http://cnn.com/video/?/video/bestoftv/2011/09/23/am-matt-mccall-markets.cnn
Market Bottom??
My gut feeling was telling me the market hit a short-term bottom this morning when futures were down about 2%. I am not ready to start throwing money back into stocks, but I will watch the action closely heading into the weekend to see if I am right.
Keep in mind the rumbling in my gut may be the Mexican food from last night - but typically my gut calls are the most accurate.
Watch support on the S&P 500 at 1101.
Keep in mind the rumbling in my gut may be the Mexican food from last night - but typically my gut calls are the most accurate.
Watch support on the S&P 500 at 1101.
Monday, May 2, 2011
Bin Laden and the US Stock Market
The great news of the death of Osama Bin Laden when I woke up this morning was met with a smile on my face and US stock futures pointing higher.
The smile remains, but the higher stock prices do not. Why??
Well as great of a day as it was for Americans and everyone fighting terror around the world, the death of one menace to democracy will not cure the issues governments are facing. The US unemployment rate will not fall, the rising price of food will not come down, and Microsoft's earnings will not rise based on the death of OBL.
What the death may do is spur some confidence into the American people during a time of high unemployment and rising costs of living. But what it will not do is push the stock market higher.
I have said for over a year that the real catalyst to a long-term rally in stocks and the US economy is confidence. This confidence will come from more jobs and politicians showing the American people they are here for us and not their own agendas. The OBL Death Confidence boost will be temporary as the War on Terror will rage on for a long time, unfortunately.
So I will sit back today and smile as I am proud to be an American and support our troops, but I am also a realistic and believe the death of OBL is irrelevant when talking about stocks. AND, to all the so-called "experts" that are calling for a Osama Rally, you should be ashamed of yourself for such a irresponsible call.
The smile remains, but the higher stock prices do not. Why??
Well as great of a day as it was for Americans and everyone fighting terror around the world, the death of one menace to democracy will not cure the issues governments are facing. The US unemployment rate will not fall, the rising price of food will not come down, and Microsoft's earnings will not rise based on the death of OBL.
What the death may do is spur some confidence into the American people during a time of high unemployment and rising costs of living. But what it will not do is push the stock market higher.
I have said for over a year that the real catalyst to a long-term rally in stocks and the US economy is confidence. This confidence will come from more jobs and politicians showing the American people they are here for us and not their own agendas. The OBL Death Confidence boost will be temporary as the War on Terror will rage on for a long time, unfortunately.
So I will sit back today and smile as I am proud to be an American and support our troops, but I am also a realistic and believe the death of OBL is irrelevant when talking about stocks. AND, to all the so-called "experts" that are calling for a Osama Rally, you should be ashamed of yourself for such a irresponsible call.
Friday, April 29, 2011
The Next Silver is Platinum
Today the price of gold and silver soared once again as gold touched a new all-time high and silver closed in on $50 per ounce. But, by the end of the session the price of silver fell from the highs as investors began banking profits.
The exact opposite occurred with platinum, which began a rally during the last afternoon hours and broke out to new highs today.
A few ways to play platinum:
The exact opposite occurred with platinum, which began a rally during the last afternoon hours and broke out to new highs today.
A few ways to play platinum:
- iPath Platinum ETN (PGM) - Tracks price of platinum futures.
- ETFS Physical Platinum ETF (PPLT) - Actually has the physical metal to back up the holdings.
- E-Tracs Long Platinum ETN (PTM) - Tracks the price of platinum futures.
- First Trust Global Platinum ETF (PLTM) - Basket of platinum-related stocks.
Five Stocks added to Watchlist
Over the last week we added 5 stocks to the PFG WatchList. They come from varying sectors, but all have solid charts and fundamentals to back the move to our list of potential buy candidates heading into next week.
- Ion Geophysical (IO) - Offers seismic imaging to help energy companies find more oil and natural gas underground. Makes a lot of sense with oil above $110/barrel.
- Canadian Imperial Bank (CM) - A lower risk way to play the financials with a big dividend of 4.2%. (Note: we did buy shares of CM for several clients this week.)
- Marketaxess Holdings (MKTX) - Offers trading platforms for fixed income products based around the globe. Finding support on a pullback after touching a fresh all-time high.
- Clean Harbors (CLH) - The environmental waste company has it hands in traditional waste management as well as cleanup efforts for spills, etc. Trying to breakout of a base on support - great chart setup.
- Verifone Systems (PAY) - Electronic payment firm that has been on a tear for over 2 years recently hit an all-time high and is now consolidating, offering a buying opportunity.
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