Here we have a chemical name with lithium exposure, to boot.
On the weekly chart, note the long, sideways consolidation base with an attempt to break higher now.
Watch it over $80.
Earnings are 08/04.
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The bond short has been a tough one in 2014, as you can see the TLT rally on the chart, below.
Currently, Treasuries continue to struggle to hod their lower support trendline, though have yet to cleanly breakdown.
I have quickly stopped out of a few attempts a bond short this year for small losses, not yet willing to hit it with size until I see more evidence of an actual bond market rollover.
The first two quarters of this year are in the book, and if bond bears are going to pounce in the back half then this opportunity for a breakdown should not be lost on the vigilantes.
I now view a close under $110 as an initial sign of a change in trend.
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Twitter continues to make a case for a major bottom here, as we have been tracking for a while now.
On the intraday chart, note the potential for another push higher this afternoon if $43 is overtaken to the upside.
$42 likely needs to hold now to prevent a gap-fill lower.
What are you trading today?
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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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Shorts are covering, once again, all over the place, with names like DDD GTAT NFLX leading the squeeze/charge.
A few short squeeze ideas which beaten-down and, frankly, trashy, but can work in a holiday week: ARO BONT NILE.
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https://www.youtube.com/watch?v=mVxoQ6odRBg
GTAT is my top performing position inside the 12631 Trading Service this morning, while my hedge quickly stopped me out.
One of the better-looking charts among the semis, let’s see if G-Rat-Tat-Tat-Tat can clear $20 and squeeze the numerous shorts in the float.
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