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McCormick Got Grinded Up This Week

January 26, 2019 Published by

McCormick (NYSE: MKC) manufactures, markets, and distributes spices, seasoning mixes, condiments such as Zatarain’s, Lawry’s, Old Bay Seasoning, French’s, Frank’s Red Hot, Mojave Foods, Cattleman’s.

McCormick announced fourth quarter earnings on Thursday and reported sales of $1.50 billion vs expectations of $1.55 billion and earnings per share $1.67 vs expectations of earnings per share of $1.70.  McCormick cited higher marketing and freight cost and weakness in Asia and Europe as some of the reasons for the lowered numbers. 

NOTE: had it not been for their acquisition of the Frank’s and French’s brands in the summer of 2017, sales and earnings would have

Bitcoin: What a Snooze Fest

January 26, 2019 Published by

Been awhile since I posted about Bitcoin and with reason.  Price has been flatlined of late as we just muddle along in the middle of a range.
Range Bound and Hopefully Not Down
Until we see upside above about 4,200 there really isn’t much to talk about on the upside.   Looking at the chart below you can see we kind of flattened out at the bottom part of the last little move higher and are just riding right on the edge of it.
Hopefully this price level maintains otherwise we are likely to test that low near 3,100.

Guess we have to just wait

The US Markets Path Going Forward $SPX $QQQ $IWM

January 25, 2019 Published by

The rally off the lows V shaped to new highs over the past 4 weeks. This was quite a V-shaped rally, which unsurprisingly, caught EVERYONE off guard. At the lows on Christmas Eve I said the rally is commencing and the immediate lows were in.
This was very important and still holds true. No one knows just how far the bounce goes, or rally for that matter but there are levels that should be noted. Regardless of how long it took, we are now here…

The market has 4 MAJOR levels of resistance that it will have to overtake before it

Is China A Buying Opportunity Or Value Trap???

January 25, 2019 Published by

On Monday, China announced that the Chinese economy grew 6.6 percent in 2018, which was the slowest pace since 1990. Also, Chinese President Xi Jinping said the country needed to be on guard for “black swan” events, while also preventing “grey rhino” events.

A black swan event is an unforeseen occurrence that has dire consequences whereas a grey rhino is an obvious threat that is ignored.

“The grey rhino is very clear, it’s the high level of debt in the whole economy from the government, the local government, and to the privately-owned enterprises 

On Tuesday, IMF Managing Director Christine Lagarde said the IMF cut

Crypto Contest January 25: TransferCoin

January 25, 2019 Published by

TransferCoin (Bittrex: TXBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, TransferCoin began a wave one advance in September  2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in October 2017, and the red wave two (blue sub-waves a-b-c) correction ended in November 2018. If this wave count is correct, TransferCoin should be heading next towards the October 2017 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
TransferCoin is a cryptocurrency with masternodes. You can view the masternode stats below.

(Sources: TransferCoin and MasterNodes)

If you think this analysis

Qualcomm…Left Out Of The Rally

January 25, 2019 Published by

Xilinix, Teradyne, Lam Research and Texas Instruments all beat earnings expectations in their reports on Wednesday, sending the chip sector higher by the end of the day.  The only outlier was Qualcomm which was negative on the day.

Kerrisdale Capital, is shorting Qualcomm shares and released a research report stating that Qualcomm is “teetering on the brink of disaster” and that its unique business model is “living on borrowed time.”

The FTC sued Qualcomm for violated FRAND {fair, reasonable, and non-discriminatory} rules, which states that companies that become members of the rule structure must license their products to competitors.

Apple filed a lawsuit

Forex $1 MM Challenge – Trade #5 (1-23-19) Sold AUDUSD

January 24, 2019 Published by

This was a trade set-up I took after posting about the Aussie going lower two days ago.

Currency Analysis Report 1-22-19…Aussie Set To Go Lower

China is Australia’s largest trading partner in terms of both imports and exports and as a result, Australia is more affected by China’s economy than most countries. As China goes, the Australia currency, the Aussie goes.

Daily Chart (Entry Time Frame) – although not the best zone, one set-up was already missed when price entered and left the daily supply at this time there is no trade set-up.

So wait for a pull back to the

Crypto Contest January 24: Decentraland

January 24, 2019 Published by

Decentraland (Bittrex: MANABTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Decentraland began a wave one advance on September 12, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 3, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on January 13 this year. If this wave count is correct, Decentraland should be heading next towards the December 3, 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Decentraland is currently in the red wave three (blue sub-wave

Steem Price Action – Bearish U-Turn Already? Volume Says Otherwise

January 24, 2019 Published by

Just a day ago I wrote about the price of steem working on a longer term bottoming formation.  However, within that you will have your moves up and down and one of those moves could even bust up the formation all together.
So let’s take a look at the reversal pattern we got due to yesterday’s candle close.

 Bearish U-Turn
I talked about the bullish u-turn pattern alot during the bull market, but right now we are discussing a bearish u-turn.
The gist of it is after two or more up days in a row the next candle trades above the previous day’s high

Unusual Options Activity In JetBlue Airways

January 24, 2019 Published by

JetBlue Airways Corporation, a passenger carrier company based in New York, with 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, and 21 countries in the Caribbean and Latin America.

JetBlue Airways
Corporation (JBLU) is scheduled to report fourth-quarter 2018 earnings results
on in the morning before market opens. Analysts expect the company to report
earnings of $0.40 per share, a 25% growth year-over-year. Revenue is expected
to grow 11% year-over-year to $1.96 billion.

In the third quarter, earnings topped estimates, revenues was in line with estimates, but higher costs weighed on

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