Morning Comment....Friday Declines...TSLA Still VERY Overbought


  • Will the “Friday decline” begin a day early this week?
  • China finally admits to under-reporting the extent of the coronavirus.
  • The starting point of the coronavirus is MUCH different than SARS & H1N1. (That’s important.)
  • TSLA announces $2bn stock offing…at a time that it’s still VERY overbought.


Will the “Friday decline” begin a day early this week?

The stock market rose again yesterday….which makes 10,471 days in a row that the market has moved higher…(at least it seems that way). We would point out, however, that the market has indeed declined on several individual days over the past couple of weeks. In fact, it has sold-off on each of the last three Fridays…as investors worried that the coronavirus might get worse over those weekends…and investors took a few chips off the table…just in case the situation deteriorated dramatically over that weekend.

China finally admits to under-reporting the extent of the coronavirus.

It looks like the “Friday pull-back” might become a two-day event this week…as China is finally admitting that they have under-reported the size of the outbreak. (They’re actually attributing the big jump in cases to a revised method of counting the infections…but in reality, they’re merely just admitting that they’ve been under-reporting the numbers.) This does not mean that the coronavirus will become a much bigger problem…and thus the stock market is going to get clobbered, but it does look like it will give investors an excuse to take a few chips off the table over the last two days of the week…instead of just the last one.

It is one thing for market pundits to tell investors that they should not panic over the coronavirus, but it’s another thing to tell them it won’t have ANY impact…and thus they should continue buying stocks with both ...

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Can FedEx (FDX) Finally Breakout?


Whether FDX can break meaningfully above its 200 day moving average or not should be very important for the stock (and UPS as well).


Ten days ago, we highlighted how UPS had become very oversold…and thus had become ripe for ...

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Morning Comment: Use Some Common Sense!


  • Stock investors need to be using more common sense right now.
  • If they do that, they'll turn more cautious.


We saw an headline this morning that read, “Futures unchanged over concerns about the coronavirus.” CONCERNS…WHAT CONCERNS??? The stock ...

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Morning Comment: TSLA...MSFT.


  • More good news out of China (this time on trade)…is helping the stock market again this morning.
  • Bond and commodities are telling a slightly different story, but it’s not a major concern yet.
  • “Forced buying” led to a parabolic ...
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UPS....Very Oversold Near-Term.



We believe investors need to be very careful on this week's bounce in the stock market, but if there is one stock that looks like it’s getting washed out on a technical basis, it’s UPS. So this one is ...

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The Weekly Top 10: Key Support Levels? Look at the 50 day moving averages.


Below you will find an abbreviated version of this week's edition of my financial newsletter, "The Maley Report." I give the full "Table of Contents"...and the "Short Versions" of our first 3 bullet points from this weekend (along ...

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Morning Comment: Netflix (NFLX) at a Key Technical Juncture


We continue to get a lot of earnings reports…so although the broad stock market did not do much yesterday, some individual stocks did see some big moves. One of those was Netflix (NFLX)…which fell over 3.5% after they ...

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JNJ Testing Key Resistance


The healthcare group continues to do well…and the recent rally has taken one big cap name from this group up to a key technical juncture: Johnson & Johnson (JNJ). Back in the fall, JNJ was able to successfully test its ...

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Morning Comment: How Far Can Liquidity Take Us?


  • New uncertainties have developed in the market place.
  • However, the last round of “uncertainty” didn’t cause any problems, so complacency is high.
  • This rally is liquidity fueled, not fundamentally fueled (just ask Drunkenmiller & Tepper).
  • The Fed knows they’re creating ...
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Wells Fargo (WFC)....Traders should consider cover shorts.


In our "Morning Comment" on Friday morning, we highlighted WFC...and turned bearish on the stock. Since then it has fallen over 8%.

That's a very big move over just three trading days, so any short-term traders who might ...

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THE WEEKLY TOP 10


Every weekend, we write a piece we call "The Weekly Top 10". However, this is NOT a regurgitation of Barron's or the weekend edition of the WSJ. Instead, we try to cover the issues most people are not focusing ...

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Are the Biotech Stocks Due For Another Leg Higher?


Back in late October, we turned much more bullish on the biotech sector when the IBB biotech ETF broke back above its summer highs. The IBB rallied 16% over the next two months…outperforming the S&P 500 (which has rallied 7 ...

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