Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 19th of February.
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GOOGLE TO OPEN RETAIL STORES?
According to reports today, Google is planning on opening retail stores in time for this coming holiday season. Google feels it's necessary to open stores to showcase their technology, Google Glass. Google Glass is wearable technology and it will act much the same way as a smart watch, which Apple is apparently working on right now.
Taking a cue out of the Apple playbook, Google feels it's necessary to have retail stores so regular people, not just super techies, can try on their invention and see how it works.
Whatever the reason, the market seems to like that idea and has pushed Google's stock over $800 for the first time.
Personally speaking, I am going to stick with my smartphone and smart watch and take a pass on Google Glass, but not a pass on Google stock. Go Google!!!
Let's see how our Trade Triangles are interpreting Google's latest moves.
NEW MONTHLY TRADE TRIANGLE - CARNIVAL CRUISE LINES
Today our Trade Triangles flashed a new red monthly Trade Triangle for Carnival Corp (CCL). It would appear that Carnival has potentially made a major top and that the present line of least resistance is down.
THE COUNTDOWN CONTINUES - 10 DAYS TO SEQUESTRATION
If sequestration sounds like a soap opera … it is!! Incredible as it may seem, lawmakers make these laws to appease everyone and when they come due, they just ignore them. The Washington quickstep is alive and well and DC politicians are doing what they do best, kicking the can down the road.
What do you think of the upcoming sequestration? Let us know what you think on today's poll.
TODAY'S 3 WINNERS : Staples (SPLS), Sealed Air Corp (SEE), First Solar Inc (FSLR)
TODAY'S 3 LOSERS : Humana (HUM), Cigna (CI), Medtronic Inc (MDT)
Have a great trading day, see you tomorrow.
Adam Hewison
President, INO.com
Co-Creator, MarketClub
