Author Archives: Rick Pendergraft

S&P Report Card: Earnings Look Pretty Good With 75% of Results In

We have seen earnings results from just over 75% of S&P 500 members and so far the results have been pretty good. Looking at the overall numbers, 71.2% of the companies have beaten EPS estimates, 9.8% have matched, and 19% have missed their estimates. Historically, 65% of companies beat estimates so the quarter has been a little better than the ...

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Revisiting Our Gold and Oil Outlooks

Back at the end of December, I gave an outlook for what I saw happening with gold and oil prices in 2020. At that time I pointed out that oil was approaching potential resistance and that it was approaching overbought territory based on the 10-week RSI and the weekly stochastic indicators. I also pointed out that the sentiment toward oil ...

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Consumers, Small Business Owners Optimistic! Is this Good or Bad?

Based on the recent readings in Consumer Confidence and the NFIB Small Business Optimism Index, consumers and small business owners have very little concern about the economy. The National Federation of Independent Businesses released its January survey results on Tuesday morning and the reading came in at 104.3 and that was up from 102.7 in December. The highest reading over ...

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The Fear Withered Quicker Than the Rose

Many, many years ago when I was in high school, I had to choose a poem to read and interpret in front of my English class. I was an athlete and our particular class had a number of athletes in it. This was also the honors English class, so it wasn’t a bunch of dumb jocks in the class. In ...

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Tesla Mania Hits Wall Street

If you invest in and pay attention to investment news for a long enough period, you will get to see a true mania play out before your own eyes. We hear the stories about the Tulip Mania that hit Holland in the 1600’s and how the price of a single tulip bulb fetched prices as high as 10 times the ...

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Earnings a Bit Rough for Older Companies

This week is an incredibly busy one for earnings reports. In fact, it’s probably the biggest week of the earnings season. I think I read that 145 of the 500 stocks in the S&P 500 will report this week. While the majority of attention will be given to the likes of Apple, Microsoft, Amazon, and Facebook, there were a few ...

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Davos Comments that Made Us Nervous

Over the last few days, investors have had one eye on China and the other eye on the World Economic Forum in Davos, Switzerland. The eye on China is concerned about the Coronavirus and how it is spreading with investors wondering what impact it will have on the global economy. China has already taken extreme measures by locking down travel ...

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Banks Get Earnings Season Off to a Good Start, Stocks are Flat

The latest earnings season kicked off last week with big banks getting things started. JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC), and Wells Fargo (NYSE: WFC) all reported results last week and for the most part, the reports were better than expected. JPMorgan, Citi, and Bank of America beat their earnings estimates while the troubled ...

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