BBVA (Banco Bilbao Vizcaya Argentaria SA), Voxeljet (VJET), Weekly Market Outlook

Here's an audio interview by Chris Versace with Ed Bilek, the head of U.S. shareholder services for Banco Bilbao Vizcaya Argentaria SA (BBVA).

A shame we hadn't paid attention to the stock almost three months ago, when the break above a 6-year downtrend first occurred:

The chart also shows a double-bottom just over $5 in early 2009 and mid-2012, and this year it finally broke decisively above the $10 level which was an area of support and resistance the past four years. 

At this point it's arguable that a pull-back is due, however it could also easily continue higher.  We've not yet decided, but will probably take an initial position this week.  We like it on technical points, especially as long as it closes above $10, and it fits with our recent theme of getting paid to hold any long positions as we maintain a longer-term bearish market outlook.

At the current price the BBVA dividend represents a yield of just over 4%, and most importantly it's well-funded and seems stable.



News: Shares of 3-D printer company Voxeljet roars higher in trading debut.

We purchased shares at an average of $23, and will hold those with an initial stop at $19 which is just below Friday's low.  Those bullish on the 3-D printing sector will find this company especially compelling, perhaps even a value. 

Volatility is a given, and while upside is tremendous initial public offerings are best participated in cautiously and by those with experience in such issues.  It could as easily be at $50 as $15 in a couple of months, perhaps a couple of weeks.

Read more about voxeljet (official spelling is with a lower-case "v") on the company's website.




On October 11, we'd forecast that "The market is likely to continue higher for at least another couple of days."

Indeed, the market carried higher which brings us to the current situation of the S&P and NASDAQ posting new highs while the DJIA is lagging in non-confirmation. 

There are many technical and sentiment indicators which give us pause.  To keep it simple we'll just say that our outlook is short-term neutral and longer-term bearish unless the DJIA is closing at new highs, which would be above 15700.

This site enjoys first-time visitors daily.  Readers new to our "Weekly Market Outlook" may wish to review the links below.  Regular readers are unlikely to find a review worthwhile.

August 30 Weekly Market Outlook

October 08 Weekly Market Outlook

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