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The Capitalist Newsletter – June 13, 2017

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HOW TO TRADE LIKE GUY COHEN AFTER THE UNCERTAINTY OF THE UK ELECTIONS, NASDAQ/TECH DRAMA

Friday was definitely considered a big news day wiith the UK election results and Nasdaq/Tech drama. The UK election did indeed spring a surprise, with Conservatives holding on, but it turned out to be only by a whisker, and Sterling plunged as a result.

The only certainty in the UK right now is that there will be more uncertainty in the short term, but that will also lead to opportunities … it always does.

And what about the Nasdaq and Tech stocks? This was not an overnight gap down, but a concerted surgical profit taking move that took the market by surprise. In such a case largely profitable positions would have been exited, which is fine. The markets don’t provide guarantees, and Guy Cohen always prefers adverse behaviour to occur during trading hours rather than overnight gapping.

The banking stocks were among the beneficiaries of the tech slump, with BAC, GS and JPM all defying their head and shoulders setups for now.

See what Guy Cohen predicts will happen next for the markets….

Read The Capitalist’s Take Here


PUERTO RICO VOTES IN FAVOR OF BECOMING 51ST STATE

Puerto Rico voted overwhelmingly in favor of statehood on Sunday in a referendum that begins the steps toward sending representatives to Washington, D.C.

According to The Wall Street Journal, 97 percent of voters chose statehood, though turnout was only about 23 percent. One-and-a-half percent voted for independence from the United States, according to Decision Desk HQ, while 1.3 percent voted to keep the current status of a territory of the United States.

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Read More at The Hill Here

Read More at CNN Here

Read More at Business Insider Here


JEFF IMMELT LATEST MANUFACTURING CEO TO RETIRE AFTER 16 YEARS AT GENERAL ELECTRIC

General Electric, the sprawling maker of jet engines, light bulbs, M.R.I. machines and countless other products, is getting new leadership for the first time in 16 years.

The company said Monday that its longtime chairman and chief executive, Jeffrey R. Immelt — who worked to refocus G.E. on its industrial roots after the 2008 financial crisis made its vast financing business much less attractive — would retire and be succeeded by John Flannery, the chief executive of the company’s health care division.

Read More at NY Times Here

Read More at Fortune Here

Read More at CNBC Here


Closing Bell

– Monday, June 12th

Markets Drop DOWN as Tech Continues Fall

Big Insider Trades

– Zayo Group Holdings, Inc. (ZAYO) CEO Dan Caruso Sells $1.6m

– IDT Corp. (IDT) Chairman of the Board Howard Jonas Buys $15m

Winners & Losers

– GTx, Inc. (GTXI) Surges UP (99.03%) on Positive Phase II Clinical Trial Results in Women with Stress Urinary Incontinence

– Coherus Biosciences, Inc. (CHRS) Tanks DOWN (23.85%) After FDA Rejects Company’s Biologics License Application for Drug Candidate

Most Talked About

GTx, Inc. (GTXI) Considered a Majority Strong Buy After Surging UP (99.03%) on Positive Phase II Clinical Trial Results in Women with Stress Urinary Incontinence

The TIP Sheets

– Monday, June 12th

– Hilton Worldwide Holdings, Inc. (HLT) Ticks UP (1.70%) on News the Company Enters Into a Share Repurchase Agreement with Selling Stockholders. Hilton Will Also Replace Yahoo in the S&P 500. Expect Shares to Continue UP

Unusual Volume

General Electric Company (GE) Ticks UP (3.58%) on 139m Shares Traded After CEO of 16 Years Jeff Immelt Retires and is Replaced by Veteran Insider John Flannery. Expect Shares to Continue UP

Disclaimer: All quotes are in local exchange time.  Real time last sale data provided by The Dow Jones.  The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by S&P Dow Jones Indices LLC and/or its authorized affiliate, and have been licensed for use to The Capitalist.  All content of The Dow Jones branded indices © 2016 S&P Dow Jones Indices LLC and/or its affiliates.  Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC.  Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC.  The Capitalist is not an affiliate company of S&P Dow Jones Indices LLC, Standard & Poor’s Financial Services LLC, Dow Jones Trademark Holdings LLC, or their respective affiliates.

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