View From The Hill: April-20-2015

Posted on Posted in Views From The Hill

Commentary & Performance Summary

Today’s positive price action in equities left me somewhat doubtful and suspicious, given the lack of volume to support it. Earnings season is upon us and the devil will be in the details of the numbers. It’s simply too early to get a legitimate read on future conditions until a larger number of companies report results.

Stock market bulls still have control of this market while the bond bears appear to be gradually getting a firmer foothold amongst sellers. Volatility remains weak and the U.S. Dollar is consolidating or trending sideways. The Euro and Yen continue to trend downward. Gold is correcting and Oil is finally starting to build some mid-term support from which it can very easily catapult to within the $60-$65 range for the WTI June-2015 contract. Real Estate assets are topping out at present, especially the Dow Jones Real Estate Index (IYR).

 

daily-mkt-summary_4-20-2015

 

Volume Surgers

The following Large-cap stocks exhibited bullish or bearish price action on significantly higer volume.

Bullish

Bearish

Hasbro (HAS) up +12.55% on 480% volume surge Royal Carribean (RCL) down -8.00% on 341% volume surge
CSX Corp (CSX) up +4.77% on 182% volume surge Genworth Financial (GNW) down -2.87% on 121% volume surge
Under Armour (UA) up +3.08% on 163% volume surge Consol Energy (CNX) down -3.50% on 90% volume surge
Harley-Davidson (HOG) up +1.93% on 88% volume surge Hershey Co. (HSY) down -2.05% on 85% volume surge
Intuitive Surgical (ISRG) up +2.27% on 87% volume surge Mylan NV (MYL) down -2.55% on 78% volume surge

 

Small Cap stocks displaying bullish or bearish price action on higher than average volume are listed below.

Bullish

Bearish

Franklin Covey Co. (FC) up +2.25% on 885% volume surge Ampio Pharmaceuticals (AMPE) down -65.82% on 2100% volume surge
22nd Century Grp (XXII) up +11.20% on 606% volume surge Iconix Brand Grp (ICON) down -20.67% on 1400% volume surge
Scholastic Corp (SCHL) up +8.94% on 592% volume surge Faro Technologies (FARO) down -25.90% on 1200% volume surge
Oxford Industries (OXM) up +6.69% on 526% volume surge Speed Commerce (SPDC) down -5.41% on 746% volume surge
Intrawest Resorts Hldg (SNOW) up +4.65% on 392% volume surge Orchids Paper Product (TIS) down -4.03% on 682% volume surge
Market Moving Events

 Bullish

  • Asia: China’s PBOC reduced its margin requirement by 1% to 18.5%, it’s largest decrease since 2008, in an effort to provide stimulus to its economy.
  • Europe: In M&A activity, Tenet Group Hldgn NV acquired Belgian mobile phone company Base for 1.33bn Euros.

 

Bearish

  • N/A

 

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