For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.
In addition, anything else about the current market, feel free to drop below.
Speak your mind, night owls.
Comments »Late Night Strategy for Friday
While I am not crazy about trading recent IPO’s too much, it is hard not to like Mobileye on the long side into a broad market bounce. Note the tight technical setup on the daily chart, below.
And if Thursday proves to be a false reversal, some short ideas worth having on watch are: DNKN GM SBUX WYNN.
Drop me your top tickers overnight.
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Stock #Market Recap 10/02/14 {Video}
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Enjoy tonight’s video, and enjoy your evening.
Comments »Off Into the Horizon
Looking out to the next few sessions, if the reversal today marks a relief rally which eventually fails it is worth keeping an eye on the real laggards today.
Dunkin’ is one such name, which I went short this morning. Note the lack of participation with rally intraday.
Overall, bulls defended those major lows on the Russell for now. But there is more work for the, to be done.
Also, the S&P 500 daily candle is worth discussing on my video market recap today.
See you there.
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It’s There if They Want It
Bulls in beaten-down commodities, of which there are many, have an attractive setup in the next week or so if the Dollar ETF weekly shooting star bearish reversal candlestick confirms lower.
If the Dollar backs off its recent squeeze, I suspect metals and miners, precious and otherwise, can finally enjoy a sharp snapback rally.
In addition, keep an eye on JGBD in the coming weeks, otherwise known as the “Kyle Bass ETF,” triple-short JGB’s, especially if the Yen rally has legs.
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A Breakout of an Outbreak
Tekmira is still in my book as a long, with $26.50 the next level I see needs to be taken out by bulls for more upside traction.
The stock has done a solid job of holding large gains so far, with sellers making a blip this morning but buyers now coming back over the top.
I still maintain that these Ebola stocks can trade in their own worlds for the time being, oblivious to the rest of the tape.
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