This is not your typical (double) POMO day, with markets struggling to stabilizing ninety minutes before the closing bell.
On a positive note, marquee names like AAPL NFLX TSLA do not seem to mind today’s action too much, if at all.
Moreover, select exploration firms in the energy patch like EOG may be ready to scoop up on the long side after pullbacks (weekly chart, first below, to the 20-period weekly moving average).
That said, short ideas like IBM INTC MELI, among others, are working in this tape, which is a change of character in and of itself.
Let’s see how they close it.
Other exploration firms of note: LNG PXD.
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Crazy candle on $N today. Still a mess of a chart.
I wouldn’t mind one more day or morning of an overall down market before putting in another leg up in some of those leaders. Erstwhile I’m committing more capital to HII even at this level.
thanks for the tip on MCP
It’s heating up a bit.
Take a look @ STZ ; many would scoff at
their brands (no fly ), but do your own channel checks and I’ll guarantee you’ll be surprised . Earnings next week so you may want to wait .
Chess , keep an eye on ONNN break of downtrend, hammer….