Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 11th of February.
2013-THE YEAR OF THE SNAKE
Yesterday was the beginning of Chinese New Year, the year of the snake. Traditionally, the Chinese set off fireworks to mark this holiday and celebrations take place throughout China. This year, sales of fireworks were 37% less than in previous years. This was said to reflect a government appeal to ignite fewer fireworks to avoid more pollution in the cities. The year of the snake means it's going to be a year of steady progress, focus and discipline for the nation of China. Given the crazy world that we are living in, steady progress, focus and discipline are not a bad way to go IMHO.
AN iWATCH FROM APPLE?
Talk about bad timing, no pun intended. I just received my Pebble smart watch, I ordered several months ago on KickStarter, which is a cool site for crowd funding projects. Anyway, the watch should have arrived in early December, instead it just arrived last Wednesday. Those of you who are unfamiliar with the Pebble, the watch uses Bluetooth technology to sync into your iPhone or Android phone and displays text messages and emails on your smart watch. When I read the news this morning that Apple was rumored to be coming out with an iWatch, possibly using Willow glass from Corning, I had to laugh at my timing. At this stage of the game, it is only a rumor, but Apple badly needs to pull another rabbit out of the hat if it wants to see its stock move higher. The iWatch might just to the trick as it is the perfect up-sell to its entrenched iPhone base.
STATE OF THE UNION
I will be a guest on CNBC Asia, live from Washington DC shortly after the State of the Union Address on "Cash Flow" around 10pm ET, Tuesday night (Feb 12th). I will be addressing what the President said and how the markets are likely to respond. I hope you have time to tune in and watch.
SIX STOCKS ON THE MOVE TODAY
ON THE UPSIDE:
First Solar (FSLR), Moody's Corp (MCO), Advanced Micro Devices Inc (AMD)
ON THE DOWNSIDE:
Noble Energy (NBL), Pioneer Natural Resources (PXD), WPX Energy Inc (WPX)
NEW TRADE TRIANGLE COLUMN
You can now quickly view your Portfolio Manager and see the Trade Triangles for all of your portfolio holdings. With just a glance, you can view the new Trade Triangles for the day, which are now highlighted with a yellow box. We show you the date and price the Trade Triangle occurred by hovering over the Triangle with your mouse. We hope you will find these changes to be a huge benefit for your portfolios!
Let us know what you are looking at and please share your thoughts and comments on our blog.
Have a great trading day,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
