Leading issues are still largely consolidating in a fairly benign manner, as they have pretty much throughout this week (AMZN FB GOOG NFLX PCLN TSLA TWTR, etc). Apple is still trucking higher, though, likely to hot $105 sometime before Labor Day.
Commodities are still under pressure, especially gold and silver, though corn and wheat may finally be ready to curl higher for a snapback rally next week. Crude and natural gas are choppy at best for now.
Sectors which have seen tremendous moves in recent weeks, namely the REITs, rails, and semis, are finally experiencing some weakness this morning.
All in all, the tape is a typical summer Friday one, even with Jackson Hole. I suspect we see a delayed reaction next week.
What are you trading this morning?
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Maybe i’m crazy but ANV has had my interest lately
Nice relative strength this week.
More GILD and EXAS Jan 25 calls
Might take a bite if it gets near 3.25 again
And if i get really crazy PAL
$VNM looks tempting. Fresh breakout. Steadily improving technicals. Excellent YTD performance (aprx. +19.5% YTD). Real growth as opposed to the dubious growth in the US and the West. No position yet though.
Good eye
EJ over 12 watch