Breaking
Wealth World News
Archive

2024

Browsing
Stocks

Will the QQQ Sell Off in January? Here’s How It Could Happen.

In recent interviews for my Market Misbehavior podcast, I’ve asked technical analysts including Frank Cappelleri, TG Watkins, and Tom Bowley what they see happening as we wrap a very successful 2024.  With the Nasdaq 100 logging about a 30% gain for 2024, it’s hard to imagine that incredible bullish continuing into 2025.  But it is definitely possible!

Q4 has seen the return of the dominance of the Magnificent 7 stocks, with charts like META breaking to new all-time highs.  Despite weaker market breadth conditions all around, indexes like the Nasdaq 100 have remained quite strong driven by the strength in mega cap growth.

While Q4 of an election year tends to be quite strong, once investors are able to gain at least some clarity of what to expect in terms of policy changes in the years to come, Q1 of a post-election year tends to have mixed results!

Today, we’ll lay out four potential outcomes for the Nasdaq 100.  As I share each of these four future paths, I’ll describe the market conditions that would likely be involved, and I’ll also share my estimated probability for each scenario.  

By the way, we conducted a similar exercise for the Nasdaq 100 back in September, and you won’t believe which scenario actually played out!

And remember, the point of this exercise is threefold:

Consider all four potential future paths for the index, think about what would cause each scenario to unfold in terms of the macro drivers, and review what signals/patterns/indicators would confirm the scenario.Decide which scenario you feel is most likely, and why you think that’s the case. Don’t forget to drop me a comment and let me know your vote!Think about how each of the four scenarios would impact your current portfolio. How would you manage risk in each case? How and when would you take action to adapt to this new reality?

Let’s start with the most optimistic scenario, with the QQQ achieving a new all-time high over the next six to eight weeks.

Option 1: The Very Bullish Scenario

For the most bullish scenario, I basically assumed that the uptrend we’ve observed since September continues at a very similar pace.  That would mean the QQQ could reach up to around $560 or so by the end of January.  For that to happen, we’d need charts like NVDA to resume their uptrends, charts like META to hold their recent breakout levels, and all the other sectors to resume a more bullish configuration!

Dave’s Vote: 10%

Option 2: The Mildly Bullish Scenario

What if the Magnificent 7 names slow down a bit, and even though other sectors like financials and industrials begin to outperform, it’s just not enough to push the benchmarks much higher?  Scenario 2 would mean a slower pace to the recent advance, but the bullish phase would still keep the QQQ this week’s close around $530.  Perhaps the Fed meeting next week suggests a more measured pace to rate cuts in early 2025, and investors grow a bit more skeptical that this market euphoria will continue.

Dave’s vote: 20%

Option 3: The Mildly Bearish Scenario

The bearish scenarios basically assume that this week’s high is about it, and even though we may drift a bit higher into year end, January 2025 looks a lot like January 2022.  The mildly bearish Scenario means we pull back a bit, but not enough to push the Nasdaq 100 below “big round number” support at $500.

There are a number of ways this could play out, but perhaps the first run of economic data in January, combined with a disappointing beginning to earnings season, makes us all realize that the euphoria of 2024 is now in the rearview mirror!

Dave’s vote: 60%

Option 4: The Super Bearish Scenario

You always need a super bearish scenario, if only to remember that it’s always a possibility regardless of whatever’s happened in recent months!  Scenario 4 would mean about a 15% decline in January, which would actually be a fairly reasonable corrective move based on market history.

If economic data shows that inflation is not remaining in the 2-3% range, or if earnings season is punctuated by a series of high profile misses, or if the Magnificent 7 all begin breaking down, this super bearish scenario could become a reality in short order.

Dave’s vote: 10%

What probabilities would you assign to each of these four scenarios?  Check out the video below, and then drop a comment with which scenario you select and why!

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

Chief Market Strategist

StockCharts.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Keep Reading
By
Stocks

Bearish Formation Threatens Gold’s Advance

After the November pullback, GLD began to rally again. This week, on Wednesday, price exceeded the nearest November top, which made official the new rising trend from the November low. Brief celebration ends the following day as GLD tops, setting the top boundary for a bearish rising wedge formation. Rising wedges are bearish because they normally resolve downward.

GLD has rallied +40% since the February low, so it is entitled to take a break.

The weekly chart shows the root of the problem, which is the parabolic advance (+71%) from the 2022 low. Parabolic advances beg for correction, which can sometimes be severe. In the case of GLD, we do not expect more than a sideways digestion process to dampen the angle of ascent.

The monthly chart emphasizes the steepness of the advance to all-time highs, and the need for some digestion or correction. Should gold pull back, two support levels are apparent: 2450 and 2085. We think the second level is unlikely because sentiment is still too bearish.

Conclusion: Gold has had a very profitable rally since the 2022 low, and it would be beneficial for it to take a break with either a pullback or consolidation. It appears that that process has begun.

Introducing the new Scan Alert System!

Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!

Learn more about DecisionPoint.com:

Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 Subscribe HERE!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2024 DecisionPoint.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

ens Gold’s Advance.

Keep Reading
By
Stocks

Identifying GREAT Trades and Looking Ahead to 2025 Using RRG Charts

There are a number of ways that you can find great trading opportunities. One way is to simply follow a chart on a WatchList and wait for certain indicators to reach “buy” points. For instance, an uptrending stock many times will find support as its 20-day EMA is tested or when its RSI approaches 40 during pullbacks. For this article, however, I want to show you an interesting way to use RRG charts to accomplish the same thing, only RRG charts might be better for traders who visualize movements better when comparing relative moves.

Live Nation (LYV) is in the communication services (XLC) sector and from early-August through late-November, it was in a stealth uptrend outpacing nearly all stocks on a relative basis as it gained over 60% in that 3 1/2 month span. I like to see 20-day EMA tests and this one is quite clear:

There’s a lot to like here as LYV’s industry group – broadcasting & entertainment ($DJUSBC) – is now showing much better relative strength to the S&P 500. In other words, money is rotating INTO the entertainment area and, as an industry group leader, LYV is reaping the rewards. The early-December selloff has taken LYV out of overbought territory on its RSI and allowed it to test its rising 20-day EMA, setting up for a bounce.

If I use the weekly and daily RRG charts and dissect the component stocks within the communication services sector, here’s what I find:

Weekly RRG – XLC

I’ve highlighted LYV as it’s the furthest XLC component stock to the right and in the leading quadrant, showing both strong bullish momentum and excellent relative strength. That tells us that we have a stock worth watching for possible trade setups during periods of short-term selling. For that short-term selling and how it looks on a daily RRG, let’s drill down to that time frame and check it out.

Daily RRG – XLC

Once again, I’ve highlighted LYV so that you can visualize its movement from an RRG perspective. From experience, many leading stocks will have short-term pullbacks where they move all the way through the Weakening quadrant, only to turn higher and head back towards the Leading quadrant. LYV’s sharp chart would show this as a rally back to test the recent price high. If and when that occurs, we’ll see LYV’s daily RRG chart turn back towards the Leading quadrant. But my point here isn’t whether LYV moves higher again for us to make money. Instead, I’m simply pointing out how healthy stocks will look on their weekly and daily RRGs. The weekly chart will highlight a stock’s powerful recent move higher and the daily chart will help us to identify those bullish stocks, and possible entry points, that are experiencing short-term weakness.

As a swing trader, this is EXACTLY what we want to look for.

Huge RRG Event

Saturday morning at 10:00am ET, Julius de Kempenaer, Sr. Technical Analyst here at StockCharts.com and the founder and creator of RRG charts, will join me for a FREE (no credit card required) EarningsBeats.com event, “Key Rotation Into 2025”, where we’ll use RRG charts to show everyone the critical rotation that’s taking place now that will likely help shape the direction of our major indices during the balance of 2024 and throughout 2025. For more information and to register for the event, CLICK HERE.

If you cannot make the event live, those registering will receive a copy of the recording of the event that you can check out at your earliest convenience. So please register NOW and save your seat!

Happy trading!

Tom

Keep Reading
By
Sports

NFL Week 15 bold predictions: Which players and teams will turn heads?

With just four weeks remaining in the NFL regular season, a fairly established pecking order has emerged, with the playoff picture seeming less prone to late-season surprises than in previous years. But that doesn’t mean that all of the action this Sunday will be straightforward.

The schedule lends itself to plenty of thrills, with the Buffalo Bills and Detroit Lions clashing in a matchup of teams vying for a No. 1 seed in the postseason. Other potential meetings of playoff-bound teams include the Pittsburgh Steelers taking on the Philadelphia Eagles, the Tampa Bay Buccaneers facing the Los Angeles Chargers and the Green Bay Packers wrapping things up Sunday night at the Seattle Seahawks.

Here are our bold predictions for NFL Week 14:

Micah Parsons will collect three sacks for the first time in his career

Although the Dallas Cowboys (5-8) are essentially erased from the playoff picture, they’ve been playing hard for pride. And Micah Parsons can certainly represent that vibe better than most. The All-Pro linebacker is due for an inspired rebound game after getting virtually shut out on the scoresheet – no tackles, no assists, no sacks, no pass deflections, and just two quarterback hits – during the Monday night loss against the Bengals. It was just the second time in Parsons’ career that he was shut out without as much as a tackle in a game. The only other time it occurred was in November 2023 against the Giants. The next week, Parsons produced a career-high 2 ½ sacks at Carolina.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

Now the Cowboys happen to be headed back to Carolina – as underdogs, mind you – with Parsons undoubtedly eager to take out some frustration on Bryce Young and Co. If you saw Parsons’ reaction to the special teams gaffe that set up Cincinnati’s last-minute, game-winning TD drive, or saw his emotional postgame interview reflection on teammate DeMarvion Overshown’s gruesome knee injury, it’s easy to sense the passion he’s bringing while leading a defense that has played well in the five games since his return from the high ankle sprain that sidelined him for more than a month. Bottom line: Look for Parsons to make a big statement with a big game while playing for pride.

— Jarrett Bell

The late afternoon window will be this season’s most entertaining timeslot of the 2024 season

If Sunday requires you to divide your attention, make sure any tasks are completed and events are attended by the time 4:25 p.m. ET rolls around. Simultaneously, the Detroit Lions will host the Buffalo Bills while the Philadelphia Eagles welcome the Pittsburgh Steelers. If neither of those matchups do it for you, the Indianapolis Colts will try to keep their postseason chances alive on the road against the Denver Broncos. (Sidenote: That the NFL handicapped itself with future Christmas-week scheduling so that none of these games could be flexed into the place of Falcons vs. Vikings on “Monday Night Football” is a significant error.)

Bills-Lions will feature a ton of points; Steelers-Eagles could turn into a defensive battle. And I’m not sleeping on the other matchups. Patriots vs. Cardinals and Buccaneers vs. Chargers could all very well come down to the wire. I expect the Colts-Broncos contest to contain an air of desperation, considering any chance of the Colts making the playoffs begins with a victory, while Denver hangs onto the perilous No. 7 seed in the AFC. 

It’s rare to get a five-game late-window these days, and even rarer that they are all somewhat exciting matchups. By the time they’re all over, we are going to call it the most fun few hours of the entire season.

— Chris Bumbaca

Saquon Barkley will surpass 2,000 yards from scrimmage in Week 15

Barkley will lead the Eagles to victory in the battle of Pennsylvania. I predict the Eagles running back will register 100-plus yards and two touchdowns in the win over the Steelers. In doing so, Barkley will surpass 2,000 yards from scrimmage this season. He’ll become just the fourth non-rookie in NFL history to produce 2,000 scrimmage yards in his first year with a team. Additionally, he’ll also become the fourth player in NFL history to record 2,000 scrimmage yards in a season with two franchises (he achieved the mark as a rookie with the New York Giants in 2018).

Sunday’s performance will bolster Barkley’s candidacy for NFL MVP.  A running back hasn’t won league MVP since Adrian Peterson in 2012. It’s long overdue.

— Tyler Dragon

Josh Allen has five touchdowns … in another losing effort

Maybe that prediction needs to be rephrased. There was nothing ‘losing’ about the effort that Allen put forth in the Bills’ 44-42 defeat at the hands of the Los Angeles Rams, as the NFL MVP front-runner became the first player in league history to record three passing touchdowns and three rushing touchdowns in a single regular-season game. An injury-ravaged Detroit defense – 13 players from that side of the ball are on injured reserve – likely will have trouble slowing Allen and the league’s No. 2 scoring offense. But the Lions are the only team more prolific in putting up points, and their attack might not face much resistance either after the Bills allowed the Rams to convert 11 of 15 third-down attempts. While Buffalo might be able to limit explosive plays with their extensive two-high looks, Lions offensive coordinator Ben Johnson is comfortable chipping away at defenses and staying on schedule. Expect more brilliance from Allen – but it might not be enough.

— Michael Middlehurst-Schwartz

This post appeared first on USA TODAY
Keep Reading
By
Sports

Ball from MVP’s World Series error sells at auction

The baseball that Aaron Judge dropped for an error in Game 5 of the World Series has sold at auction for $43,510.

Judge’s fith-inning miscue kick-started a meltdown that turned a 5-0 New York Yankees lead in an eventual 7-6 loss that clinched a championship for the Los Angeles Dodgers.

Conducted through the Dodgers’ official auction site, the sale went through Thursday for the ball that will forever live in Dodgers and Yankees lore.

Judge was unable to catch the fly ball hit by Tommy Edman with a runner on first and ace Gerrit Cole on the mound, but the AL MVP’s error was the first in a series of Yankees mistakes.

Shortstop Anthony Volpe made a throwing error on the next play to load the bases with nobody out. Cole got the next two outs and looked on the verge of escaping the jam, but the pitcher failed to cover first on a soft ground ball hit by Mookie Betts, allowing Los Angeles to score its first run and extend the inning. The Dodgers scored four more times in the inning, erasing their 5-0 deficit.

Follow every MLB game: Latest MLB scores, stats, schedules and standings.

“I think falling short in the World Series will stay with me until I die,” Judge said after Game 5.

Judge hit 58 home runs with a career-high 144 RBI in the regular season to win his second MVP award in three years but hit .184 with 20 strikeouts in 49 postseason at-bats as the Yankees reached the World Series for the first time since 2009.

“You could feel the energy shift in the stadium,’ Dodgers infielder Max Muncy said of the fateful fifth inning. “It was almost like those fans were waiting for something bad to happen … When all that started unfolding, I could just feel it. We’re about to take over this game.”

DODGERS WIN WORLD SERIES: Celebrate with this commemorative coffee table book! 

The USA TODAY app gets you to the heart of the news — fast.Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more.

This post appeared first on USA TODAY
Keep Reading
By
Sports

Jaguars announce tight end’s status for Week 15 and beyond

The Jacksonville Jaguars are set for a matchup in Week 15 against the New York Jets in a game that won’t have playoff implications but could shake up the 2025 NFL draft order.

One part of the Jaguars’ offense will be missing in that game: tight end Evan Engram.

Jacksonville coach Doug Pederson originally told reporters on Wednesday that he expected the 30-year-old tight end to be available for Sunday’s game. Engram then missed two consecutive practices and, as of Friday morning, the two-time Pro Bowl tight end has been ruled out for the remainder of the season.

Here’s the latest on why he’s out:

All things Jaguars: Latest Jacksonville Jaguars news, schedule, roster, stats, injury updates and more.

Evan Engram injury update

Pederson confirmed Friday that Engram will be out for the rest of the season with a torn labrum after an MRI revealed the severity of the injury.

Engram missed four games earlier this season while dealing with a hamstring injury he suffered during pregame warmups in Week 2. In the nine games he has played, the 30-year-old has tallied 365 receiving yards – good for third on the team.

Last season he led the Jaguars in receptions with 114, two shy of the franchise record for a single season set by Jimmy Smith in 1999.

Engram hadn’t missed a game for the Jaguars before this season and played in all 17 games in 2022 and 2023. In 2021, he missed two games with a calf injury as a member of the New York Giants.

When was Evan Engram’s injury?

Engram sustained his shoulder injury in the Jaguars’ Week 14 win over the Titans. It’s unclear when exactly he suffered the injury, but Pederson said Monday that it happened at some point during the game.

Evan Engram stats

Engram previously missed four games this season with a hamstring injury. Here’s how his stats look through the nine games he’s played so far:

Targets: 64
Receptions: 47
Receiving yards: 365
Yards per reception: 7.77
Receiving touchdowns: 1

Jaguars TE depth chart

With Engram out for the season, here’s how the Jaguars’ tight end depth chart currently stands:

Brenton Strange
Luke Farrell
Josiah Deguara (questionable – shoulder)

Strange was the Jaguars’ second-round pick in 2023, and Farrell joined the Jaguars as its fifth-round pick in 2021. Both have played in all 13 games so far this year.

Deguara signed with the Jaguars’ practice squad in the offseason. He was elevated to the active roster in late September and has played in 11 games since, mostly on special teams. Like Engram, Deguara is also dealing with a shoulder issue. He was a limited participant in practice on Wednesday and Thursday.

This post appeared first on USA TODAY
Keep Reading
By
Politics

DC food workers pledge to make Trump officials unwelcome, echoing confrontations in first term

Washington, D.C.-area restaurants once again will not be free from politics as the Trump team prepares to settle into the nation’s capital for a second term. 

Food workers inside the Beltway are prepared to refuse service and cause other inconveniences for members of the incoming Trump administration, but this is not the first time the administration and allies will have to deal with harassment while sitting down to dinner.

In September 2018, Sen. Ted Cruz, R-Texas, and his wife were harassed at Fiola, an upscale Italian restaurant in Washington, D.C. Protesters confronted them over Cruz’s support for then-Supreme Court nominee Brett Kavanaugh during his contentious confirmation hearings. Videos circulated online showing demonstrators shouting at the couple, chanting, ‘We believe survivors.’ Cruz and his wife eventually left the restaurant due to the altercation.

This incident was part of a broader wave of confrontations involving Trump administration officials and allies over the summer that year.

As such, in June 2018, then-Secretary of Homeland Security Kirstjen Nielsen was confronted by protesters at MXDC Cocina Mexicana, a Mexican restaurant in Washington, D.C., over the Trump administration’s family separation policy at the U.S.-Mexico border. Protesters chanted, ‘Shame!’ and called her a ‘villain,’ forcing her to leave.

Senior Trump adviser Stephen Miller, known for his role in shaping immigration policy, recounted an incident when he went to pick up an $80 sushi order from a restaurant near his apartment that same month. As he left, the bartender followed him outside, called out his name and, when Miller turned around, gave him a double middle finger. He threw away the sushi out of fear someone in the restaurant had tampered with the food, the New York Post reported at the time.

Also in June 2018, the owner of The Red Hen restaurant in Lexington, Virginia, asked then-White House press secretary Sarah Huckabee Sanders to leave, citing opposition to the Trump administration’s tough immigration policies. 

Industry veterans, bartenders and servers in the nation’s capital told the Washingtonian this week that resistance to the Republican figures in the progressive city was inevitable and a matter of conscience. 

‘You expect the masses to just ignore RFK eating at Le Diplomate on a Sunday morning after a few mimosas and not to throw a drink in his face?,’ said Zac Hoffman, a Washington, D.C., restaurant veteran who is now a manager at the National Democratic Club.

Not every liberal hospitality sector worker in the report planned to protest the incoming administration while doing their job, however. 

A bartender named Joseph said while he was disappointed by the election results, he was looking forward to higher tips with more Republicans in Washington.

Fox News Digital’s Kristine Parks contributed to this report.

This post appeared first on FOX NEWS
Keep Reading
By
Politics

‘Unethical garbage’: ProPublica faces backlash for ‘journalism’ claim after email to Hegseth gets exposed

Left-wing nonprofit ProPublica is facing renewed scrutiny after an email exchange related to its recent unpublished story on Secretary of Defense nominee Pete Hegseth was released on Thursday.

A media firestorm began earlier this week when Hegseth revealed on X that ProPublica, which he called a ‘Left Wing hack group’ was planning to publish a ‘knowingly false report’ that he was not accepted by West Point in 1999. Attached to the post was a photo of Hegseth’s acceptance letter signed by West Point Superintendent Lieutenant General Daniel Christman, U.S. Army.

ProPublica editor Jesse Eisinger responded to the post, explaining that West Point public affairs had told the outlet twice that Hegseth hadn’t applied.

‘We reached out,’ Eisinger wrote. ‘Hegseth’s spox gave us his acceptance letter. We didn’t publish a story. That’s journalism.’

After intense criticism from conservatives online, with some questioning why ProPublica did not press West Point on the inaccurate information and publish a story on that aspect, Eisinger posted a lengthy X thread outlining the steps ProPublica had taken researching the story claiming and touting how they ‘care about accuracy’ and being ‘intellectually honest’ and had given Hegseth a ‘fair chance to respond to all of the salient facts in the story.’

Questions about ProPublica’s journalistic standards intensified shortly afterward when Daily Caller published an email from reporter Justin Elliot reaching out to Hegseth’s lawyer, giving him an hour to respond to the allegation that he never went to West Point and asking, ‘Why did Mr. Hegseth say he got into West Point when that is not true?’ 

‘How can Mr. Hegseth be Secretary of Defense given that he has made false statements about getting into the military’s most prestigious academy?’ Elliot asked.

That email drew the ire of many on social media, who took issue with the accusatory tone of the email and the small window to respond to such a serious allegation, which suggested the story had already been completed without hearing Hegseth’s side.

‘ProPublica did not contact Pete Hegseth to get the full story,’ Red State writer Bonchie posted on X. ‘They contacted him to claim he was a liar while demanding a response within one hour not to offer his side, but to ask why he ‘lied’ and what else he ‘lied’ about.’

‘This isn’t ‘journalism.’ It’s unethical garbage.’

‘***Nothing*** in Jesse’s 11-tweet thread even hinted that ***this*** is how ProPublica actually approached the story— taking the falsehood from West Point, repeatedly asserting to Hegseth that he was a liar & implying he is unfit for SecDef, & giving him just one hour to respond,’ journalist Jerry Dunleavy posted on X. 

‘ProPublica’s Editor-in-Chief claimed that they gave @PeteHegseth a fair chance to respond to the West Point story because they ‘care about accuracy,’’ Trump 2024 Rapid Response Director Greg Price posted on X. ‘According to this unhinged email obtained by @reaganreese, they straight up accused him of being a liar and gave him a one hour deadline to respond.’

In a statement to Fox News Digital, a ProPublica spokesperson said, ‘Reporters do their job by asking tough questions to people in power, which is exactly what happened here. Responsible news organizations only publish what they can verify, which is why we didn’t publish a story once Mr. Hegseth provided documentation that corrected the statements from West Point.’

Fox News Digital reached out to West Point asking whether any disciplinary actions had been taken against the staffers for providing false information and why procedures had not been in place to prevent that kind of error. 

West Point directed Fox News Digital to its previously issued statement. 

‘A review of our records indicates Peter Hegseth was offered admission to West Point in 1999 but did not attend. An incorrect statement involving Hegseth’s admission to the U.S. Military Academy was released by an employee on Dec. 10, 2024.  Upon further review of an archived database, employees realized this statement was in error. Hegseth was offered acceptance to West Point as a prospective member of the Class of 2003. The academy takes this situation seriously and apologizes for this administrative error.’

In a letter to West Point this week, Republican Congressman Jim Banks wrote, ‘It is outrageous that West Point officials would so grossly interfere in a political process and make false claims regarding a presidential nominee.’

‘Even in the unlikely scenario of OPA mistakenly making false claims not once but twice, it is an unforgivable act of incompetence that OPA did not make absolutely sure their information was accurate before sharing it with a reporter.’

This week’s ProPublica controversy comes after the nonprofit, which has received millions of dollars from liberal foundations, faced strong criticism for its reporting on conservative U.S. Supreme Court Justices Clarence Thomas and Samuel Alito, which critics referred to as ‘hit pieces.’

‘Journalistic inquiry into the private dealings of public officials is essential for our democracy. But honest inquiry applies the same standard to all people rather than single out those with whom one disagrees,’ Gretchen Reiter, senior vice president of communications at Stand Together, told Fox News Digital last year regarding ProPublica’s reporting on Thomas.

ProPublica’s reporting on Alito prompted the justice to write a Wall Street Journal op-ed where he wrote, ‘ProPublica has leveled two charges against me: first, that I should have recused in matters in which an entity connected with Paul Singer was a party and, second, that I was obligated to list certain items as gifts on my 2008 Financial Disclose Report. Neither charge is valid.’

ProPublica stood by its reporting on Alito but acknowledged there are ‘lessons for ProPublica in this experience.’

This post appeared first on FOX NEWS
Keep Reading
By
Politics

Russia batters Ukraine power grid amid rising concern Putin could order ballistic missile attack this weekend

Russia on Friday continued for the third year in a row with its primary winter strategy to pummel Ukraine’s power grid as freezing conditions settle ahead of the winter months in a ‘massive blow’ to the country’s largest energy company. 

Moscow’s forces fired some 90 missiles, including cruise missiles, and 200 drones in one of the largest mass attacks on Ukraine’s power grid, targeting plants across Western Ukraine in the Lviv, Ternopil and the Ivano-Frankivsk regions, the Kyiv Independent reported.

The severity of the attack is not yet known, though at least half of the Ternopli region was reportedly without power and equipment was said to have been ‘damaged’ by the DTEK civilian energy company.

‘This year, this is already the twelfth mass attack on the Ukrainian energy industry and the ninth mass attack on the company’s energy enterprises,’ the company said in a post on Telegram, noting that no casualties had been reported. ‘In total, since the beginning of the full-scale invasion, the DTEK thermal power plant has been fired upon more than 200 times.’

The mass attacks came after reports this week suggested that Russia could be planning another attack using its latest ballistic missile, the Oreshnik missile — which it first fired last month — to hit Ukraine. 

The attack could apparently happen ‘as soon as this weekend,’ according to a U.S. National Security Council official in a Friday Financial Times report. 

Similarly, an official told Reuters earlier in the week, ‘We assess that the Oreshnik is not a game-changer on the battlefield, but rather just another attempt by Russia to terrorize Ukraine, which will fail.’

The threat of another substantial attack comes amid concern that Russian forces are making incremental gains in Donetsk near the town of Pokrovsk, which has potentially given Moscow access to supply routes connecting the area to Zaporizhzhia, Estonian Intelligence reported on Friday.

Though according to open-source data presented by Estonian Colonel Ants Kiviselg, head of the nation’s Defense Forces (EDE), Ukrainian forces have also successfully repelled attacks levied by Russian forces on the Dontesk town of Kurakhove, some 35 miles south of Pokrovsk, despite Russian attempts to encircle the town.

‘Russian occupiers are throwing all available forces forward, attempting to break through the defenses of our troops,’ Ukrainian army chief Gen. Oleksandr Syrskyi said in a Facebook post late Wednesday. 

Pokrovsk remains a key defensive post for Ukraine in Donetsk, and its fall would not only compromise Kyiv’s access to supply routes, but its ability to continue to fend off Russia’s attempts to seize the entire region.

The increasing crunch Ukraine is feeling in Donetsk coincides with concerns over whether the U.S. will continue to aid Ukraine as the Trump administration is set to take office in late January. 

President-elect Trump has not said whether he will maintain the U.S.’ ongoing level of support for Ukraine, and in an interview with Time magazine released Thursday, he criticized Kyiv’s use of U.S.-supplied ATACMS (Army Tactical Missile Systems) to hit targets in Russia. 

‘Anything can happen. Anything can happen. It’s a very volatile situation,’ Trump said of the war in Ukraine. ‘I think the most dangerous thing right now is what’s happening, where [Ukrainian President Volodymyr] Zelenskyy has decided, with the approval of, I assume, [President Biden], to start shooting missiles into Russia. I think that’s a major escalation. I think it’s a foolish decision.’

Biden in November relinquished his long-held opposition to Ukraine using U.S.-supplied missiles to hit military targets in Russia after years of pleas by Kyiv to do so.

Zelenskyy, along with other U.S. security experts, have long argued Ukraine should be able to attack Russia amid its yearslong deadly invasion, and that hitting weapons depots and Russian military positions used to launch massive missile and drone campaigns that target Ukrainian civilians is critical in turning the tide of the war. 

This post appeared first on FOX NEWS
Keep Reading
By
Stocks

Pumping the Brakes on Ferrari (RACE)

Despite its position as a luxury automaker synonymous with prestige and performance, Ferrari N.V. (RACE) may be showing signs of a near-term downturn. Recent price action, coupled with stretched valuations and slowing shipment trends, suggests that RACE may face potential downside.

By incorporating both technical and fundamental analysis, we can see a compelling risk/reward setup for a bearish trade. The best part? This opportunity was identified automatically by the OptionsPlay Strategy Center within StockCharts.com, showcasing how you can effortlessly discover trades like this on your own.

Technical Analysis

From a technical perspective, the chart reveals a concerning pattern:

Broken Support: After breaking below $460 support in early November, RACE has rallied back to retest this level as resistance, providing a favorable risk/reward for bearish exposure.Underperformance: Its underperformance relative to the S&P 500 with negative momentum further reinforces the case for downside toward the $400 support level.

FIGURE 1. DAILY CHART OF FERRARI NV. The stock has broken support and is underperforming relative to the S&P 500. Chart source: StockCharts.com. For educational purposes.

Fundamental Analysis

RACE’s valuation appears lofty, given its modest growth profile:

High Valuation, Moderate Growth: Trading at 47x forward earnings, RACE commands a substantial 490% premium to the industry. Yet expected revenue growth of only 9% and EPS growth of 12% offer limited justification for such a rich multiple.Margins and Premium Pricing: To its credit, Ferrari boasts a best-in-class net margin of 22%; however, even premium margins fall short of supporting the current multiple without correspondingly robust growth.

Recent quarterly results highlight the concerning picture. Although Q3 2024 saw net revenues increase by 6.5, shipments declined by 76 units year-over-year, with notable weaknesses in key regions like China, Hong Kong, and Taiwan. Rising SG&A expenses—driven by digital initiatives and brand investments—also weigh on near-term profitability. While Ferrari’s emphasis on hybrids and personalization points toward innovation and resilience, the current fundamentals do not convincingly justify its elevated valuation.

Options Strategy

Given the bearish timing and valuation concerns, a put vertical spread offers a defined-risk way to position for potential downside. The OptionsPlay Strategy Center suggests buying the February $460/$410 Put Vertical at a $18.30 debit:

Buy: February $460 Put @ $24.30Sell: February $410 Put @ $6.00Net Debit: $18.30 per share or $1,830 total per contract

FIGURE 2. BUYING A PUT VERTICAL SPREAD IN FERRARI NV. Here you see the strategy details of buying a Feb. 21, 2025 $460/$410 put vertical.Image source: OptionsPlay Strategy Center in StockCharts.com. For educational purposes.

This strategy:

Maximum Potential Risk: $1,830Maximum Potential Reward: $3,165Breakeven Point: $441.65Probability of Profit: ~43%

If RACE remains under pressure and trades below $441.65 by February 21, 2025, this strategy stands to benefit, offering an attractive risk-to-reward profile for bearish traders.

Unlock Real-Time Trade Ideas with OptionsPlay Strategy Center

This bearish opportunity on RACE emerged within seconds, courtesy of the OptionsPlay Strategy Center on StockCharts.com. By employing its Bearish Trend Following scan, the platform identified RACE as a candidate, then structured an optimal options trade to match the bearish thesis—no lengthy research required.

FIGURE 3. FERRARI NV WAS A CANDIDATE UNDER THE BEARISH TREND FOLLOWING SCAN.

Image source: OptionsPlay Strategy Center in StockCharts.com.

By subscribing to the OptionsPlay Strategy Center, you can:

Effortlessly Discover Trading Opportunities: Market scans highlight potential trades in real-time, tailored to your market outlook.Receive Optimal Trade Structures: Access pre-calculated options strategies that align with your view, risk tolerance, and profit targets.Save Time and Enhance Efficiency: Eliminate hours of research—find the best options trades within seconds, every day.

Don’t let valuable trading opportunities slip away. Subscribe to the OptionsPlay Strategy Center today and empower your trading journey with the tools and insights you need to stay ahead of the market.

Keep Reading
By