Jones Group (NYSE: JNY) & Capital One Financial (NYSE: COF) popped up on our chart scan today. After an abysmal earnings report Jones gapped down over twenty percent today, setting up a possible head and shoulders chart pattern. While the Dow Jones has staged a rally over the past year Capital One is in the red. Steadily leaking from its high of $47.62, COF looks extremely vulnerable.
Today’s scan includes Discover Financial (DFS) and Capital Gold Corp (CGC). Although Discover has a seemingly weak fundamental picture the chart seems to tell a different story. With the formation of an inverse head & shoulders pattern, DFS looks poised for a move. Capital Gold is a small gold mining stock in a hot sector. Recent candles suggest a run at a new 52-week high.
Peter Schiff, of Euro Pacific Capital uses illustrations, humor and storytelling to explain economic and monetary concepts in his book, How and Economy Grows and Why it Crashes. The book uses parody and analogy to compare our current global economy with a small island economy based on fishing.
Helicopter Ben has been steadily hovering over the United States throwing hoards of dollars at the so called credit crisis. We have all heard about the need for added liquidity into our financial system. However, few people realize the repercussions of cheap money