In addition to the long and short ideas I mentioned in my video market recap for Tuesday, keep an eye on the Dollar/Yen currency cross.
If the Dollar loses $102 versus a strengthening Yen, falling down out of the rising wedge highlighted below on the daily chart, I suspect it will place pressure on equities.
Long Ideas: CORN P UIS ZNGA
Short Ideas: CSX F GM IYR
Drop me your top tickers overnight.
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Enjoy tonight’s video, and enjoy your evening.
Comments »
I am short General Motors here, in at $36.13, looking for this consolidation to resolve lower.
The stock has been in a downtrend and lagging the tape for a while now.
It is my type of short because it is not heavily-shorted (thus, I likely will not face a violent squeeze higher), is liquid, and is a general dud.
Who is playing First Solar earnings after the bell? How are you playing it?
Stay tuned for my video market recap after the bell…
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Comments »“You f*’n momo!”
Uranium stocks are heating up, with a name like CCJ shooting higher. Also note URA.
On the other side of the tape, Ford and General Motors continue to underwhelm. Note their daily charts remain heavy and vulnerable to breaking down.
Let’s see if corn and wheat take the baton the softs rally…
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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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