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Market Wrap for Friday, May 24: Stocks Close Week Near Unchanged Mark
Friday, May 24, 2013 - 4:20pm
A day after a sell-off hit much of the world, but spared the United States, the U.S. market was essentially flat on the last trading session of the week. Although there are signs that a pullback may be imminent, investors continue to pour money into U.S. stocks on expectations that the bull...
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Friday, May 24, 2013 - 2:16pm
It's Time to Think About Obscure Middle East ETFs
Geopolitical concerns and perceived liquidity risk are among the issues that have kept investors from embracing Middle East stocks and ETFs in recent years. A prime example of a market hampered by those issues is Egypt. The Market Vectors Egypt ETF (NYSE: EGPT), the lone ETF devoted exclusively...
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Friday, May 24, 2013 - 12:56pm
Mid-Day Market Update: Infoblox Jumps On Upbeat Results, Sears Declines
Midway through trading Friday, the Dow traded down 0.20 percent to 15,264.01, while the NASDAQ fell 0.29 percent to 3,449.33. The S&P was also down, declining 0.31 percent to 1,645.38. Top Headline Yesterday, Pandora Media (NYSE: P) reported upbeat revenue for the first quarter. Pandora...
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Friday, May 24, 2013 - 10:36am
Mid-Morning Market Update: Markets Fall, Pandora Posts Higher Revenue
Following the market opening Friday, the Dow traded down 0.26 percent to 15,255.34, while the NASDAQ fell 0.55 percent to 3,444.19. The S&P was also down, declining 0.47 percent to 1,642.82. Top Headline Yesterday, Pandora Media (NYSE: P) reported upbeat revenue for the first quarter....
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Technical Forecast for Natural Gas
Friday, May 24, 2013 - 9:20am
Natural Gas moved back up towards 4.230/250 for another chance to exit longs & try shorts & hit support at 4.163/133 to bottom out as expected. We then shot through 4.230/250 to keep the upward momentum going for a test of 4.310/ 324 today. If attempting shorts here we need stops...
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Technical Forecast for WTI Crude
Friday, May 24, 2013 - 8:35am
WTI Crude hit our target & support at 92.80/75 & although we tested the 200 day moving average at 92.30 we just held on to allow longs to be held for the expected bounce. We then reached resistance at 94.40/50 where we advised to try shorts & this was the exact high. Today...
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Technical Forecast for RBOB
Friday, May 24, 2013 - 8:34am
RBOB Gasoline bounced ahead of 277.95/10. This is good support as stated yesterday & we look oversold in the short term so we would expect a bounce from here if seen today. Exit shorts & try longs with stops below 276.60. We face resistance in the 282.46-283.60 area...
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Technical Forecast for Brent Crude
Friday, May 24, 2013 - 8:33am
Brent Crude broke support at 101.35/20 but being very oversold in the short term we bounced ahead of our buying opportunity at 100.26 & recovered to 102.40/50 resistance. This has held the bounce as expected but the outlook is more positive today so a push above here looks likely for...
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Friday, May 24, 2013 - 6:03am
Benzinga Market Primer: Friday May 24
The buy on the dip mentality seems to be alive and well in this market as the Dow erased a loss of more than 120 points to end close to flat on the day. Let’s not forget that this is a market that found a way to attract buyers on a day when the Nikkei was down more than 7 percent and took most of...
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Friday, May 24, 2013 - 5:57am
Brent Lower on Ample Supply and Waning Demand
Further indications of a slow global economic recovery coupled with ample supply set crude futures up for their largest weekly drop since mid April on Friday. Brent prices slipped toward $102 and traded at $102.45 at 9:17 GMT on Friday morning. Brent tumbled to a three week low on Thursday...
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