The Traderszone Network

Did SoftBank just ring the bell at the top for internet retail giants?

Shortly after the close, Japan’s SoftBank Group Corp., the largest and one of the oldest investors in Chinese e-commerce giant Alibaba, said it would sell at least $7.9 billion of its stake (with an option to sell another $1 billion) in the company to boost its cash position and pay down debt.

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Goldman’s Cohn defends bank’s trading unit amid revenue slump; Meet the most powerful man in banking; Bible translated into emojis ‘for millennials’; and more.

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Staples announced its CEO Ron Sargent is stepping down after the company’s annual shareholders meeting in June.

So, its hump month (although I will accept July also) appropriately enough beginning on a hump day!
Spooky. I really ought to do more cycle analysis. Just kidding!

A morning rally brought forth a crop of new highs, but an afternoon fade forced some of them to finish the day in unimpressive fashion.

One such stock was Global Payments (GPN), which peeked above a 77.63 buy point from a flat base. It gained 0.58 to close at 77.69. Volume was well below average, which also dampened the breakout.

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Republican presidential candidate Donald Trump is not one to hold back punches. Since last July, he has been a frequent critic of the media and the press, attacking individuals, organizations and much of the industry as ‘dishonest’, ‘sleazy’ and ‘absolute scum’.