Asian shares wrung out another decade peak on Wednesday as data showed China’s demand for imports remained buoyant, while the dollar dipped amid concerns Republican plans for major U.S. tax cuts were running into headwinds.
Beijing reported imports in October rose 17.2 percent from a year earlier, beating forecasts of 16 percent, but export growth was just under estimates at 6.9 percent.
China’s blue-chip CSI300 index .CSI300 gained 0.6 percent to reach ground last trod in mid-2015, just one of many milestones across region.
Hong Kong stocks .HSI made a decade top, powered by investor enthusiasm for tech stocks as shares in China Literature Ltd doubled in their red-hot debut (0772.HK).
Likewise, MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS erased early losses to raise 0.2 percent, it’s highest since November 2007.
Japan’s Nikkei .N225 fell 0.2 percent, though that followed its best close since 1992, and Australia’s main index notched its loftiest reading since 2008.
Wall Street had taken a breather on Tuesday after again making record peaks. The Dow .DJI ended up 0.04 percent, while the S&P 500 .SPX lost 0.02 percent and the Nasdaq .IXIC 0.27 percent.
The S&P 500 financial index .SPSY led decliners with a 1.33 percent fall, in part on concerns a flattening yield curve would crimp profits at banks that borrow short to lend long.
The U.S. yield curve has flattened sharply in the last couple of weeks, with the gap between two- and 10-year yields shrinking to just 68 basis points, the smallest since 2007.
The move largely reflects wagers the Fed is determined to hike in December, pushing up short-term yields. Such a move was likely to ensure inflation stays lower for longer, thus pulling down longer-dated yields and flattening the curve. (Source: Reuters)
Top Pick for Wednesday: Bloomin’ Brands, Inc. (NASDAQ: BLMN)
Bloomin’ Brands, Inc. (NASDAQ: BLMN) has grabbed attention from the analysts when it experienced a change of -2.42% in the last trading session to close at $16.53. A total of 2,419,658 shares exchanged hands during the intra-day trade contrast with its average trading volume of 1.33M shares, while its relative volume stands at 1.82. Relative volume is the comparison of current volume to average volume for the same time of day, and it’s displayed as a ratio. If RVOL is less than 1 it is not In Play on this trading day and Investors may decide not to trade it. If RVOL is above 2 it is In Play and this is more evidence Investors ought to be in the name. When stocks are *very* In Play one can see a RVOL of 5 and above. The higher the RVOL the more In Play the stock is.
Day traders strive to make money by exploiting minute price movements in individual assets (usually stocks, though currencies, futures, and options are traded as well), usually leveraging large amounts of capital to do so, therefore they trade on Stocks in Play. In Play Stocks are volatile enough to produce good risk and reward trading opportunities for both bull and bear traders intraday. Most company stocks have very little volatility. They generally move extremely slowly and they only produce big price swings when the company produces good or bad trading results, which may only happen a couple of times a year at best.
In deciding what to focus on – in a stock, say – a typical day trader looks for three things: liquidity, volatility and trading volume. Liquidity allows an investor to enter and exit a stock at a good price (i.e. tight spreads, or the difference between the bid and ask price of a stock, and low slippage, or the difference between the predictable price of a trade and the actual price). If a stock does not have good liquidity then it may take some time before a broker is able to negotiate a deal to buy or sell a stock and the broker may not be able to get the sell or buy price that the trader is looking for. This is a problem for day traders and it could mean the difference between a profitable and non-profitable trade.
Traders have different rules for what constitutes liquidity and a good guide is the volume of trades and volume of shares that are traded each day. 100,000 shares traded per day would be a minimum for most traders and some require 1,000,000.
Trading volume is a gauge of how many times a stock is bought and sold in a given time period (most commonly, within a day of trading, known as the average daily trading volume – ADTV). A high degree of volume indicates a lot of interest in a stock. Often, a boost in the volume of a stock is a harbinger of a price jump, either up or down.
Volatility is simply a measure of the predictable daily price range—the range in which a day trader operates. More volatility means greater profit or loss. After a recent check, Bloomin’ Brands, Inc. (NASDAQ: BLMN) stock is found to be 4.00% volatile for the week, while 2.84% volatility is recorded for the month.
The stock has a market cap of $1.54B and the number of outstanding shares has been calculated 93.40M. Based on a recent bid, its distance from 20 days simple moving average is -6.38%, and its distance from 50 days simple moving average is -4.68% while it has a distance of -12.18% from the 200 days simple moving average. The company’s distance from 52-week high price is -25.41% and the current price is 2.61% away from 52-week low price. The company has Relative Strength Index (RSI 14) of 34.17 together with Average True Range (ATR 14) of 0.52.
Past 5 years growth of BLMN observed at -17.20%, and for the next five years the analysts that follow this company is expecting its growth at 11.80%. The stock’s price to sales ratio for trailing twelve months is 0.37 and price to book ratio for the most recent quarter is 41.33, whereas price to cash per share for the most recent quarter are 15.64. Its quick ratio for the most recent quarter is N/A. Analysts mean recommendation for the stock is 2.60. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
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