Mark Rivest

Pfizer Update

11/09/20 a one quarter add on position to Pfizer Inc. (PFE) was made at the opening price of 41.86. The 11/09/20 post “Pfizer Up on Vaccine Announcement” recommended a stop loss on this position at a move below 38.20 which occurred today. The total decline was 8.8%, the loss for the one quarter position wasContinue reading “Pfizer Update”

S&P 500 Could be in Short – Term Decline

On 11/09/20 the S&P 500 (SPX) may have completed an Elliott five wave extended impulse pattern from the bottom made on 10/30/20. The hourly SPX chart courtesy of Trading View illustrates the action from the 10/30/20 bottom. The tricky part of the wave count is the supposed Minuette wave (v). This could be a TruncatedContinue reading “S&P 500 Could be in Short – Term Decline”

Pfizer Up on Vaccine Announcement

The 09/17/20 post “Pfizer Bullish Opportunity” recommended buying Pfizer (PFE) on speculation that they could be the first of nine companies to develop a Coronavirus vaccine. Today 11/09/20 PFE announced that they had a Coronavirus vaccine. PFE surged on the news. On 10/19/20 the post “Pfizer Pushing Higher” recommended adding one quarter of the originalContinue reading “Pfizer Up on Vaccine Announcement”

Zoom Update

My 10/17/20 post “Profiting From Zoom” noted a clear Elliott Wave pattern for Zoom Video Communications Inc. (ZM) and that there could be support for a subsequent decline at what was labeled Intermediate wave (4). The daily ZM chart courtesy of Trading View illustrates what’s happened. The rectangle box highlighted in green is the areaContinue reading “Zoom Update”

Solid Confirmation Signal

A bear trend is defined by a series of lower tops and lower bottoms. When there’s a move above the prior top its usually a strong confirming signal that a bottom could be in place. Soon after the opening S&P 500 (SPX) session on 11/03/20 there was a move above the short-term peak made 10/29/20. Continue reading “Solid Confirmation Signal”

The Best Buying Opportunity Since March?

Presidential elections cause anxiety among traders and investors and there’s reason to be concern because whoever is the US president can have effect on the long-term economy and the stock market. Near term- over the next two to three months its doubtful whoever is elected US President in 2020 will be able to change theContinue reading “The Best Buying Opportunity Since March?”

The Bullish Season

November is statistically the most bullish month for US stocks. This bullish season can last at least until the end of the year and sometimes continue into late April. My 10/28/20 post “Door Open for Lower Stocks” discussed the reasons why the S&P 500 (SPX) could continue to decline. On 10/30/20 the SPX did makeContinue reading “The Bullish Season”

Dow Jones Transportation Average – An Important Bottom?

Today 10/30/20 the S&P 500 (SPX) made a new low for the decline from its secondary high made on 10/12/20. The Dow Jones Transportation Average (DJT) which made an all-time high on 10/20/20 did not make a new decline low and held above its 10/29/20 bottom. This stronger performance relative to the SPX hints theContinue reading “Dow Jones Transportation Average – An Important Bottom?”

Door Open for Lower Stocks

My October 20th post noted the S&P 500 (SPX) had potential support in the low 3400 area, subsequently that support was broken. Today 10/28/20 was a big down day for US stocks. The daily SPX chart courtesy of Trading View shows sell signals from two momentum indicators. The daily MACD has a bearish crossover andContinue reading “Door Open for Lower Stocks”

Could Silver be in an Emerging Bull Market?

From March to August 2020 the precious metals group of Gold, Silver and Platinum had powerful moves up. Gold made a new all-time high when it broke above its 2011 peak. Silver in five months retraced seven years of bear market progress. These could be the first signs of a new multi-year bull market forContinue reading “Could Silver be in an Emerging Bull Market?”