The stock is trying to hold $55 while Twitter and its applications have been down and the website has been down for a while now, the longest I can remember in quite some time.
Come check us out inside 12631 for continued Twitter-like discussion during this blackout.
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Copper is making noise today, with steady weakness finally amounting to enough where more mainstream finance types are taking notice. In addition, crude oil, second chart below, continues to struggle after a head-fake higher last week. Furthermore, gold is outperforming silver today. All of those factors point to uninspired views about global growth.
On the first chart, I present an updated 30-minute IWM ETF look. The falling channel has become increasingly sloppy, with gap-fill territory below now a real threat.
Keep an eye on LNKD under $200 as a short idea.
On the long side, ZNGA is still one of the better charts out there right now.
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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.
I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.
Members can click here to view and save the screen.
Sorted for at least 500,000 shares of daily average volume to ensure liquidity.
Please click on image to enlarge.
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For the day-trading action types out there, PLUG looks to be in a fiddy cent bracket.
Over $11 again I think you can consider a quick long, while under $10.50 you can take a stab at an aggressive short play (considering the hot upside momo).
Again, these are day-trading ideas only, seen on the intraday chart, below.
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TLT is building out a bear flag on its daily chart, just above major support. I continue to be positioned, inside 12631, for further weakness in bonds. A close below $105.62 is still what I am seeking for more confirmation.
And BAS Is still a short squeeze/long idea, potentially following the smiler chart of Macy’s higher, second below.
What are you trading this morning?
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Crude was weak overnight. And looking at the USO ETF I think you can see that last week’s pop on the Russia news was not only short-lived, but now in danger of being a bonafide bull trap.
As a result, I am looking at the ultra-short crude ETF’s here, namely DTO SCO.
This thesis would carry more weight if the USO ETF cracks back below $36 today.
Which stocks are at the top of your watchlists this morning?
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