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<title>Minyanville - RiskReversal.com RSS</title>
<description>
The Trusted Choice for the Wall Street Voice
</description>
<link>
		http://www.minyanville.com</link>
<copyright>
		2013Minyanville Publishing and Multimedia, LLC. All Rights Reserved
</copyright>
		<item>
<title><![CDATA[Where Is Krispy Kreme Headed in the Long Run?]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/options/articles/where-is-krispy-kreme-headed-Krispy/5/16/2013/id/49870</link>
<pubDate>
			Thu, 16 May 2013 16:07:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/options/articles/where-is-krispy-kreme-headed-Krispy/5/16/2013/id/49870</guid>
<description>
<![CDATA[Krispy Kreme (NYSE:KKD) has risen from the dead in the past year after being in the doldrums for four years after its 2008 crash. The stock almost tripled from June 2012 to March 2013, but it looks like its strong run is likely over.

Below is the one-year daily chart, which shows that KKD broke its steep uptrend last month, and has since broken below its multi-month support level around 13.50. That bodes poorly for the stock in the short term.


One-year daily chart of KKD, Courtesy of Bloomberg

	Click to enlarge
 
In the long run, major support for the ]]>
</description>
<content:encoded>
	<![CDATA[Krispy Kreme (NYSE:KKD) has risen from the dead in the past year after being in the doldrums for four years after its 2008 crash. The stock almost tripled from June 2012 to March 2013, but it looks like its strong run is likely over.

Below is the one-year daily chart, which shows that KKD broke its steep uptrend last month, and has since broken below its multi-month support level around 13.50. That bodes poorly for the stock in the short term.


One-year daily chart of KKD, Courtesy of Bloomberg

	Click to enlarge
 
In the long run, major support for the ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Bond Market: Is the TLT Breakdown for Real?]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/fixed-income/articles/Bond-Market253A-Is-the-TLT-Breakdown/5/10/2013/id/49761</link>
<pubDate>
			Fri, 10 May 2013 15:03:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/fixed-income/articles/Bond-Market253A-Is-the-TLT-Breakdown/5/10/2013/id/49761</guid>
<description>
<![CDATA[Ten-year US Treasury yields rose 27 basis points in the past six trading days, from 1.63% to 1.9%, which is a large move for the government bond market. The strong jobs report was the real catalyst, but the move lower in Treasuries has continued this week.

The debate over the long-term direction of Treasuries has heated up. Bill Gross made some headlines this morning with the following tweet:
 

	PIMCO @PIMCO
	Gross: The secular 30-yr bull market in bonds likely ended 4/29/2013. PIMCO can help you navigate a likely lower return 2 &ndash; 3% future.

In contrast, Jeff Gundlach has said ]]>
</description>
<content:encoded>
	<![CDATA[Ten-year US Treasury yields rose 27 basis points in the past six trading days, from 1.63% to 1.9%, which is a large move for the government bond market. The strong jobs report was the real catalyst, but the move lower in Treasuries has continued this week.

The debate over the long-term direction of Treasuries has heated up. Bill Gross made some headlines this morning with the following tweet:
 

	PIMCO @PIMCO
	Gross: The secular 30-yr bull market in bonds likely ended 4/29/2013. PIMCO can help you navigate a likely lower return 2 &ndash; 3% future.

In contrast, Jeff Gundlach has said ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[VIX Lower on Quiet Week, but Resilient]]></title>
<link>
			http://www.minyanville.com/business-news/markets/articles/VIX-Lower-on-Quiet-Week-but/5/8/2013/id/49720</link>
<pubDate>
			Wed, 8 May 2013 16:21:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/business-news/markets/articles/VIX-Lower-on-Quiet-Week-but/5/8/2013/id/49720</guid>
<description>
<![CDATA[The VIX (INDEXCBOE:VIX) price action in the past two days has been noteworthy.  The S&P 500 (INDEXSP:.INX) has made new all-time highs in a grinding fashion on each trading day so far this week, but the VIX is actually higher on the week.  It's not simply a phenomenon of VIX spot either &ndash; May VIX futures, which would normally get hit the hardest, are only down from 14.25 to 14.10 this week, a very small move in light of the low volatility, low volume grind we have experienced.
	
	My hunch is that traders are increasingly replacing their outright long stock ]]>
</description>
<content:encoded>
	<![CDATA[The VIX (INDEXCBOE:VIX) price action in the past two days has been noteworthy.  The S&P 500 (INDEXSP:.INX) has made new all-time highs in a grinding fashion on each trading day so far this week, but the VIX is actually higher on the week.  It's not simply a phenomenon of VIX spot either &ndash; May VIX futures, which would normally get hit the hardest, are only down from 14.25 to 14.10 this week, a very small move in light of the low volatility, low volume grind we have experienced.
	
	My hunch is that traders are increasingly replacing their outright long stock ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Internet Stocks Then Vs. Solar Power Now]]></title>
<link>
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-Internet-Then/4/29/2013/id/49537</link>
<pubDate>
			Mon, 29 Apr 2013 15:15:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-Internet-Then/4/29/2013/id/49537</guid>
<description>
<![CDATA[The promise of the Internet has finally panned out, but far after the initial investor euphoria of the late 1990s. The Internet was the future back then -- but this future did not come as soon as the dot-com investor base had hoped. Today, purely Internet based enterprises like Google (NASDAQ:GOOG), Amazon (NASDAQ:AMZN), and eBay (NASDAQ:EBAY) are among the largest companies in the world, and the Web-based economy continues to grow rapidly.

There are some interesting parallels between the Internet in 1999 and solar power in 2007. Both sectors saw massive investor interest based on disruptive technology that would change ]]>
</description>
<content:encoded>
	<![CDATA[The promise of the Internet has finally panned out, but far after the initial investor euphoria of the late 1990s. The Internet was the future back then -- but this future did not come as soon as the dot-com investor base had hoped. Today, purely Internet based enterprises like Google (NASDAQ:GOOG), Amazon (NASDAQ:AMZN), and eBay (NASDAQ:EBAY) are among the largest companies in the world, and the Web-based economy continues to grow rapidly.

There are some interesting parallels between the Internet in 1999 and solar power in 2007. Both sectors saw massive investor interest based on disruptive technology that would change ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Are Defensive Stocks Enough to Carry the S&P?]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/stocks/articles/Are-Defensive-Stocks-Enough-to-Carry/4/24/2013/id/49456</link>
<pubDate>
			Wed, 24 Apr 2013 12:16:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/stocks/articles/Are-Defensive-Stocks-Enough-to-Carry/4/24/2013/id/49456</guid>
<description>
<![CDATA[A fellow trader suggested to me yesterday that the outperformance of the defensive sectors was no sign for concern for the broader market.  He said that he only becomes concerned about defensive outperformance when they are flat to slightly up, while the rest of the sectors are mostly lower.  In the current case, he said, the defensives are outperforming, but only because they're up very strongly, while everything else is only up modestly.  To him, that's simply because the market sees good future prospects for these sectors going forward, and naturally, that's a positive sign, not a negative sign.

It's ]]>
</description>
<content:encoded>
	<![CDATA[A fellow trader suggested to me yesterday that the outperformance of the defensive sectors was no sign for concern for the broader market.  He said that he only becomes concerned about defensive outperformance when they are flat to slightly up, while the rest of the sectors are mostly lower.  In the current case, he said, the defensives are outperforming, but only because they're up very strongly, while everything else is only up modestly.  To him, that's simply because the market sees good future prospects for these sectors going forward, and naturally, that's a positive sign, not a negative sign.

It's ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Apple Sees Highest Volatility Ahead of Earnings in Its History]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/options/articles/Chart-of-the-Day253A-Apple-Sees/4/19/2013/id/49373</link>
<pubDate>
			Fri, 19 Apr 2013 14:50:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/options/articles/Chart-of-the-Day253A-Apple-Sees/4/19/2013/id/49373</guid>
<description>
<![CDATA[As the Apple (NASDAQ:AAPL) debate gets more ferocious ahead of Q1 earnings next week, the options market is getting more and more jittery.  Today's chart shows that 30-day implied volatility in AAPL is now near 2-year highs:


Two-year chart of AAPL 30 day IV, Courtesy of LiveVolPro

It has rallied ahead of earnings, but this is actually the highest it has been ahead of earnings at any point.  The only time implied volatility was higher was due to macro concerns in the fall of 2011, when the VIX (INDEXCBOE:VIX) got all the way to 48.

Naturally, this has occurred as ]]>
</description>
<content:encoded>
	<![CDATA[As the Apple (NASDAQ:AAPL) debate gets more ferocious ahead of Q1 earnings next week, the options market is getting more and more jittery.  Today's chart shows that 30-day implied volatility in AAPL is now near 2-year highs:


Two-year chart of AAPL 30 day IV, Courtesy of LiveVolPro

It has rallied ahead of earnings, but this is actually the highest it has been ahead of earnings at any point.  The only time implied volatility was higher was due to macro concerns in the fall of 2011, when the VIX (INDEXCBOE:VIX) got all the way to 48.

Naturally, this has occurred as ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Number of New Lows Almost Highest in Past Year]]></title>
<link>
			http://www.minyanville.com/business-news/markets/articles/Number-of-New-Lows-Almost-Highest/4/16/2013/id/49294</link>
<pubDate>
			Tue, 16 Apr 2013 12:30:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/business-news/markets/articles/Number-of-New-Lows-Almost-Highest/4/16/2013/id/49294</guid>
<description>
<![CDATA[Each morning, I do a quick health checkup on the market, looking at various internal indicators.  Market indices like the S&P 500 (INDEXSP:.INX) (or even worse, the Dow Jones Industrial Average (INDEXDJX:.DJI)) that we're conditioned to look at are hardly an accurate guide to the total overall health of the stock market.  Since it's a daily exercise that I've done for years, I'm rarely surprised by what I see.

But this morning, one chart quickly snapped me out of my morning haze. This is the chart of new 52-week lows on US exchanges, courtesy of Bloomberg:



There were almost as ]]>
</description>
<content:encoded>
	<![CDATA[Each morning, I do a quick health checkup on the market, looking at various internal indicators.  Market indices like the S&P 500 (INDEXSP:.INX) (or even worse, the Dow Jones Industrial Average (INDEXDJX:.DJI)) that we're conditioned to look at are hardly an accurate guide to the total overall health of the stock market.  Since it's a daily exercise that I've done for years, I'm rarely surprised by what I see.

But this morning, one chart quickly snapped me out of my morning haze. This is the chart of new 52-week lows on US exchanges, courtesy of Bloomberg:



There were almost as ]]>
</content:encoded>
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			<item>
<title><![CDATA[Chart of the Day: Health Care, Consumer, and Utilities Sectors Rising to Unsustainable Levels?]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/etfs/articles/Health-Care-Consumer-and-Utilities-Sectors/4/12/2013/id/49240</link>
<pubDate>
			Fri, 12 Apr 2013 14:00:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/etfs/articles/Health-Care-Consumer-and-Utilities-Sectors/4/12/2013/id/49240</guid>
<description>
<![CDATA[It's the three generals of this market: health care, consumer staples, and utilities. These are the glamorous and exciting sectors of the new economy. They are bid up day after day, and are leading the broader indices higher as well. Even on a down day for the broader market (like today), all three sector ETFs are trading around unchanged.

However, the slope of their ascent has changed dramatically in 2013. It is getting to the point where the word "unsustainable" comes to mind.  

Here is the Health Care SPDR ETF (NYSEARCA:XLV) weekly chart over the past three years:


Click to ]]>
</description>
<content:encoded>
	<![CDATA[It's the three generals of this market: health care, consumer staples, and utilities. These are the glamorous and exciting sectors of the new economy. They are bid up day after day, and are leading the broader indices higher as well. Even on a down day for the broader market (like today), all three sector ETFs are trading around unchanged.

However, the slope of their ascent has changed dramatically in 2013. It is getting to the point where the word "unsustainable" comes to mind.  

Here is the Health Care SPDR ETF (NYSEARCA:XLV) weekly chart over the past three years:


Click to ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: The Almighty Euro]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/currencies/articles/Chart-of-the-Day253A-The-Almighty/4/9/2013/id/49170</link>
<pubDate>
			Tue, 9 Apr 2013 15:23:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/currencies/articles/Chart-of-the-Day253A-The-Almighty/4/9/2013/id/49170</guid>
<description>
<![CDATA[The euro's demise has been a popular topic in the media for many years now.  Talk of a breakup of the eurozone, a continent-wide banking crisis, and continued political issues in the periphery have still not been resolved. Asset markets in Europe have generally underperformed American assets. But the currency itself has hardly moved versus the US dollar in the past four years. In fact, it's essentially in the same spot (1.30)  that it was exactly four years ago.

Over the past 15 months of price action, the currency pair has been even less volatile than usual, as the volatility ]]>
</description>
<content:encoded>
	<![CDATA[The euro's demise has been a popular topic in the media for many years now.  Talk of a breakup of the eurozone, a continent-wide banking crisis, and continued political issues in the periphery have still not been resolved. Asset markets in Europe have generally underperformed American assets. But the currency itself has hardly moved versus the US dollar in the past four years. In fact, it's essentially in the same spot (1.30)  that it was exactly four years ago.

Over the past 15 months of price action, the currency pair has been even less volatile than usual, as the volatility ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Expect UnitedHealth Stock to Hit All-Time Highs]]></title>
<link>
			http://www.minyanville.com/sectors/biotech-pharma/articles/unh-unitedhealth-unitedhealth-group-unh-stock/4/2/2013/id/49029</link>
<pubDate>
			Tue, 2 Apr 2013 12:06:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/sectors/biotech-pharma/articles/unh-unitedhealth-unitedhealth-group-unh-stock/4/2/2013/id/49029</guid>
<description>
<![CDATA[Within health care, the managed care space is on fire today.  (These days, health care seems to go up no matter what, it&#39;s just a question of which sub-sector leads.)  The news today was that the US government reversed a decision to cut a key Medicare payment rate, an issue that had weighed on the sector earlier in 2013.

The whole space is ripping, and UNH (NYSE: UNH) has been a long-term leader among the insurers.  Here's the 3-year chart showing the importance of its gap higher today:


Three-year weekly chart of UNH, Courtesy of Bloomberg

The chart shows the ]]>
</description>
<content:encoded>
	<![CDATA[Within health care, the managed care space is on fire today.  (These days, health care seems to go up no matter what, it&#39;s just a question of which sub-sector leads.)  The news today was that the US government reversed a decision to cut a key Medicare payment rate, an issue that had weighed on the sector earlier in 2013.

The whole space is ripping, and UNH (NYSE: UNH) has been a long-term leader among the insurers.  Here's the 3-year chart showing the importance of its gap higher today:


Three-year weekly chart of UNH, Courtesy of Bloomberg

The chart shows the ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Tesla Motors Breaks Out]]></title>
<link>
			http://www.minyanville.com/sectors/consumer/articles/Chart-of-the-Day253A-Tesla-Motors/4/1/2013/id/49010</link>
<pubDate>
			Mon, 1 Apr 2013 13:45:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/sectors/consumer/articles/Chart-of-the-Day253A-Tesla-Motors/4/1/2013/id/49010</guid>
<description>
<![CDATA[Tesla Motors (NASDAQ:TSLA) Model S sales exceeded expectations, and Tesla reported that it actually expects a first quarter profit this morning. The news sent TSLA up more than 20% at one point today, and it's still up 18% as I write.

I actually had a bullish trade structure on TSLA that I took off last month for a profit when the stock stalled near the $40 resistance level.  My profit was nothing compared to what I would have made if I still held the trade today. But hindsight is 20/20. The stock could have been down 20% today and my ]]>
</description>
<content:encoded>
	<![CDATA[Tesla Motors (NASDAQ:TSLA) Model S sales exceeded expectations, and Tesla reported that it actually expects a first quarter profit this morning. The news sent TSLA up more than 20% at one point today, and it's still up 18% as I write.

I actually had a bullish trade structure on TSLA that I took off last month for a profit when the stock stalled near the $40 resistance level.  My profit was nothing compared to what I would have made if I still held the trade today. But hindsight is 20/20. The stock could have been down 20% today and my ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Gap Vs. Lululemon]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/stocks/articles/Gap-Vs-Lululemon-chart-of-the/3/26/2013/id/48934</link>
<pubDate>
			Tue, 26 Mar 2013 14:55:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/stocks/articles/Gap-Vs-Lululemon-chart-of-the/3/26/2013/id/48934</guid>
<description>
<![CDATA[Ashley Lutz at Business Insider had an article yesterday discussing the yoga pants wars between Gap (NYSE:GPS) and Lululemon (NASDAQ:LULU). I have no idea about the yoga pants market, and little view on fashion trends (I had no idea what Athleta was until this article), but her best bullet points (in my view) in favor of Gap-owned Athleta were as follows:

	
		Athleta has more affordable price points ($69 vs. $98 for LULU).


	
		Athleta has a lenient return policy.


	
		Athleta has a larger selection.


	
		Athleta doesn't have supply chain issues.

She had several other points, but those were the most salient. ]]>
</description>
<content:encoded>
	<![CDATA[Ashley Lutz at Business Insider had an article yesterday discussing the yoga pants wars between Gap (NYSE:GPS) and Lululemon (NASDAQ:LULU). I have no idea about the yoga pants market, and little view on fashion trends (I had no idea what Athleta was until this article), but her best bullet points (in my view) in favor of Gap-owned Athleta were as follows:

	
		Athleta has more affordable price points ($69 vs. $98 for LULU).


	
		Athleta has a lenient return policy.


	
		Athleta has a larger selection.


	
		Athleta doesn't have supply chain issues.

She had several other points, but those were the most salient. ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Main Risk for US Banks? European Banks]]></title>
<link>
			http://www.minyanville.com/business-news/the-economy/articles/main-risk-for-us-banks-european/3/22/2013/id/48877</link>
<pubDate>
			Fri, 22 Mar 2013 13:25:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/business-news/the-economy/articles/main-risk-for-us-banks-european/3/22/2013/id/48877</guid>
<description>
<![CDATA[The euro crisis has reared its ugly head again, but this time around, the market is saying, "Not going to be fooled by the boy who cried wolf." In the last three years, the market has hit its low for the year on the dramatic headlines and riot videos in Europe, only to eventually continue its bull market run. So riots and bank runs again? Traders refuse to be fooled this time.

In the US market, the financial sector has been the biggest beneficiary of this new outlook. To see what I mean, here's a look at the chart of ]]>
</description>
<content:encoded>
	<![CDATA[The euro crisis has reared its ugly head again, but this time around, the market is saying, "Not going to be fooled by the boy who cried wolf." In the last three years, the market has hit its low for the year on the dramatic headlines and riot videos in Europe, only to eventually continue its bull market run. So riots and bank runs again? Traders refuse to be fooled this time.

In the US market, the financial sector has been the biggest beneficiary of this new outlook. To see what I mean, here's a look at the chart of ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Chart of the Day: Did Oracle Put in an Important Double Top?]]></title>
<link>
			http://www.minyanville.com/sectors/technology/articles/Chart-of-the-Day253A-Did-Oracle/3/21/2013/id/48852</link>
<pubDate>
			Thu, 21 Mar 2013 13:50:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/sectors/technology/articles/Chart-of-the-Day253A-Did-Oracle/3/21/2013/id/48852</guid>
<description>
<![CDATA[Oracle (NASDAQ:ORCL) missed earnings and sales estimates, and provided weak guidance due to "poor sales execution" according to management.  Analysts are split on whether the weakness is due simply to poor execution, or a greater shift in enterprise software toward the cloud.  

I read a wide-ranging, worthwhile interview with Netscape founder and prominent tech venture capitalist Marc Andreessen this weekend at Techcrunch.  For those interested in more in-depth thoughts on the future of enterprise software, I highly recommend it.  In short, Andreessen thinks SAP&#39;s (NYSE:SAP) and ORCL's traditional businesses are in trouble because of the shift to the cloud.

What ]]>
</description>
<content:encoded>
	<![CDATA[Oracle (NASDAQ:ORCL) missed earnings and sales estimates, and provided weak guidance due to "poor sales execution" according to management.  Analysts are split on whether the weakness is due simply to poor execution, or a greater shift in enterprise software toward the cloud.  

I read a wide-ranging, worthwhile interview with Netscape founder and prominent tech venture capitalist Marc Andreessen this weekend at Techcrunch.  For those interested in more in-depth thoughts on the future of enterprise software, I highly recommend it.  In short, Andreessen thinks SAP&#39;s (NYSE:SAP) and ORCL's traditional businesses are in trouble because of the shift to the cloud.

What ]]>
</content:encoded>
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<title><![CDATA[Chart of the Day: Amazon Is the Best 'Not-for-Profit' in the World]]></title>
<link>
			http://www.minyanville.com/sectors/technology/articles/Chart-of-the-Day253A-Amazon-Is/3/14/2013/id/48721</link>
<pubDate>
			Thu, 14 Mar 2013 16:08:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/sectors/technology/articles/Chart-of-the-Day253A-Amazon-Is/3/14/2013/id/48721</guid>
<description>
<![CDATA[Amazon (NASDAQ:AMZN) is bucking the recent market uptrend, making a new 10-day low today after JPMorgan downgraded the stock to Neutral from Overweight. The downgrade was due to concerns that the company's gross profit growth could decelerate in 2013.  Based on tougher y-o-y comps, the analyst expects AMZN's third party sales to moderate this year. As we've said before, AMZN is the world's favorite not-for-profit company.  It has not managed a substantial profit (more than 1% of current market cap) in its entire history as a company.  It has made incredible strides as a service-provider, no doubt.  But as an ]]>
</description>
<content:encoded>
	<![CDATA[Amazon (NASDAQ:AMZN) is bucking the recent market uptrend, making a new 10-day low today after JPMorgan downgraded the stock to Neutral from Overweight. The downgrade was due to concerns that the company's gross profit growth could decelerate in 2013.  Based on tougher y-o-y comps, the analyst expects AMZN's third party sales to moderate this year. As we've said before, AMZN is the world's favorite not-for-profit company.  It has not managed a substantial profit (more than 1% of current market cap) in its entire history as a company.  It has made incredible strides as a service-provider, no doubt.  But as an ]]>
</content:encoded>
			</item>
			<item>
<title><![CDATA[Apple Gets Twitter-Bombed, Saved From New Lows -- Again]]></title>
<link>
			http://www.minyanville.com/sectors/technology/articles/Apple-Gets-Twitter-Bombed-Saved-From/3/12/2013/id/48672</link>
<pubDate>
			Tue, 12 Mar 2013 12:19:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/sectors/technology/articles/Apple-Gets-Twitter-Bombed-Saved-From/3/12/2013/id/48672</guid>
<description>
<![CDATA[Apple (NASDAQ:AAPL) is most certainly trying to put in a bottom after its almost 40% peak to trough draw-down from the September highs.  For most of yesterday's trading, AAPL continued its relative underperformance, looking like it was headed for a new 14-week low, until BAM! -- a Twitter-bomb to the rescue:



Those tweets were by @ProffesorKev (53 followers). On his Twitter profile, he claims to, "Love the action and manipulation & thankful for this trading opportunity to easily afford me more family time."  This tweet was re-tweeted not long after by someone who has a much bigger following, @Biggercapital (7,100 ]]>
</description>
<content:encoded>
	<![CDATA[Apple (NASDAQ:AAPL) is most certainly trying to put in a bottom after its almost 40% peak to trough draw-down from the September highs.  For most of yesterday's trading, AAPL continued its relative underperformance, looking like it was headed for a new 14-week low, until BAM! -- a Twitter-bomb to the rescue:



Those tweets were by @ProffesorKev (53 followers). On his Twitter profile, he claims to, "Love the action and manipulation & thankful for this trading opportunity to easily afford me more family time."  This tweet was re-tweeted not long after by someone who has a much bigger following, @Biggercapital (7,100 ]]>
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<title><![CDATA[Chart of the Day: Student Loan Debt and What It Means to Investors Long-Term]]></title>
<link>
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-Student-Loan/3/11/2013/id/48645</link>
<pubDate>
			Mon, 11 Mar 2013 12:15:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-Student-Loan/3/11/2013/id/48645</guid>
<description>
<![CDATA[An important long-term theme for the American economy is the buildup of student loan debt over the past 10 years. This chart, courtesy of FT Alphaville, says it all:


 
Unfortunately, we're burdening the younger generation with debt to stimulate economic growth after already maxing out the debt load that the homeowner class could handle. At this pace, student loan debt will soon be double that of outstanding credit card debt. Ten years ago, student loan debt was a blip on the screen relative to the size of the credit card debt market.

Putting aside the fact that this is a ]]>
</description>
<content:encoded>
	<![CDATA[An important long-term theme for the American economy is the buildup of student loan debt over the past 10 years. This chart, courtesy of FT Alphaville, says it all:


 
Unfortunately, we're burdening the younger generation with debt to stimulate economic growth after already maxing out the debt load that the homeowner class could handle. At this pace, student loan debt will soon be double that of outstanding credit card debt. Ten years ago, student loan debt was a blip on the screen relative to the size of the credit card debt market.

Putting aside the fact that this is a ]]>
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<title><![CDATA[Chart of the Day: Investors Rotating Out of Cash, Not Bonds]]></title>
<link>
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-The-Great/3/8/2013/id/48613</link>
<pubDate>
			Fri, 8 Mar 2013 11:05:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-The-Great/3/8/2013/id/48613</guid>
<description>
<![CDATA[Much has been made of the anticipated "Great Rotation" out of bonds and into stocks after such a strong bull market in bonds over the past several years (and 30 years in total). But in reality, bonds and stocks have had no problem rallying together for the past three years. In fact, what investors have been rotating out of is pure, old cash. Since cash now earns zero, investors' cash allocation is much lower than it used to be.

Here is the chart to prove the point, courtesy of Orcam Financial, by way of the Humble Student of the Markets ]]>
</description>
<content:encoded>
	<![CDATA[Much has been made of the anticipated "Great Rotation" out of bonds and into stocks after such a strong bull market in bonds over the past several years (and 30 years in total). But in reality, bonds and stocks have had no problem rallying together for the past three years. In fact, what investors have been rotating out of is pure, old cash. Since cash now earns zero, investors' cash allocation is much lower than it used to be.

Here is the chart to prove the point, courtesy of Orcam Financial, by way of the Humble Student of the Markets ]]>
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			<item>
<title><![CDATA[Chart of the Day: Materials in Serious Danger]]></title>
<link>
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-Materials-in/3/7/2013/id/48600</link>
<pubDate>
			Thu, 7 Mar 2013 14:50:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/business-news/markets/articles/Chart-of-the-Day253A-Materials-in/3/7/2013/id/48600</guid>
<description>
<![CDATA[My firm had a brief argument yesterday on CNBC's Halftime Report about whether stocks in the materials sector were cheap or not. Certainly, many mining-related stocks have been battered in the past few months, particularly the gold miners. But putting aside the precious metals, what about the other materials names, like industrial miners, chemicals, and fertilizer stocks?

XLB is the ETF that tracks the large-cap materials sector that includes such names. There is a strong weighting of chemicals stocks, not just miners. Despite that diversity, the ETF had closely tracked copper prices for most of 2010, 2011, and 2012.  Here ]]>
</description>
<content:encoded>
	<![CDATA[My firm had a brief argument yesterday on CNBC's Halftime Report about whether stocks in the materials sector were cheap or not. Certainly, many mining-related stocks have been battered in the past few months, particularly the gold miners. But putting aside the precious metals, what about the other materials names, like industrial miners, chemicals, and fertilizer stocks?

XLB is the ETF that tracks the large-cap materials sector that includes such names. There is a strong weighting of chemicals stocks, not just miners. Despite that diversity, the ETF had closely tracked copper prices for most of 2010, 2011, and 2012.  Here ]]>
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<title><![CDATA[Chart of the Day: Bank of America Lags in a Strong Sector]]></title>
<link>
			http://www.minyanville.com/trading-and-investing/stocks/articles/Chart-of-the-Day253A-Bank-of/3/1/2013/id/48484</link>
<pubDate>
			Fri, 1 Mar 2013 15:25:00EST
</pubDate>
<guid isPermaLink="true">
			http://www.minyanville.com/trading-and-investing/stocks/articles/Chart-of-the-Day253A-Bank-of/3/1/2013/id/48484</guid>
<description>
<![CDATA[Bank of America (NYSE:BAC) has been a trader's dream and an investor's nightmare over the past four years. The stock has had three separate instances where it has doubled or nearly doubled in that period, but the stock has also seen some terrific falls. Here is the four-year chart, essentially showing BAC since the March 2009 low:



	Four-year daily chart of BAC, Courtesy of Bloomberg
	Click to enlarge
 
The March 2009 to September 2009 rally was the most impressive, coming off the bear market lows. However, the stock has been a major laggard since then. The financials sector is trading ]]>
</description>
<content:encoded>
	<![CDATA[Bank of America (NYSE:BAC) has been a trader's dream and an investor's nightmare over the past four years. The stock has had three separate instances where it has doubled or nearly doubled in that period, but the stock has also seen some terrific falls. Here is the four-year chart, essentially showing BAC since the March 2009 low:



	Four-year daily chart of BAC, Courtesy of Bloomberg
	Click to enlarge
 
The March 2009 to September 2009 rally was the most impressive, coming off the bear market lows. However, the stock has been a major laggard since then. The financials sector is trading ]]>
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