Submitted by Lance Roberts via RealInvestmentAdvice.com,
Review
Let’s start with where we left off last week for some context.
“The post ‘Trexit’ rally that started on Wednesday took out the first two levels of resistance with some ease. However, the “sell signal” remains intact with the market now back to extreme overbought levels as shown by the red circles at the top of the chart.
All things considered, the PANW numbers weren't all that bad. Revenues rose by 34% and gross margins are at the historical median point. However, they issued a warning for next quarter, taking with it the entirety of the cyber-security sector.
Reports Q1 (Oct) earnings of $0.55 per share, $0.03 better than the Capital IQ Consensus of $0.52; revenues rose 34.0% year/year to $398.1 mln vs the $400.38 mln Capital IQ Consensus.
Billings grew 33% y/y to $516.9 bln (Q2 increased 45% y/y)
As US stocks push to record highs, trading volume is dwindling and broad market breadth is terrible...
Submitted by John Mauldin via MauldinEconomics.com,
I’d like to share an update that throws some chilly water on the post-election stock market rally.
My friends Van Hoisington and Lacy Hunt of Hoisington Investment Management usually write only quarterly letters. They send interim updates only when something of major consequence happens. The fact they wrote this one is significant… and what they say is definitely important.
One. Big. Squeeze...
Everything must be awesome...