Jobless claims enter the danger zone 406K…
Oil up…my sense another 1-2 day head fake. I’m still for $110-$115 range as a downside target.
Dollar flat to weak….PPT needs to do some work here!
Beats:
[[QCOM]], [[AMZN]], [[SY]], [[POT]], [[IVGN]], [[OXY]], [[BMY]], [[ALK]], [[MWV]], [[GR]], [[MMM]], [[TDY]], [[FLIR]], [[CSH]], [[LUV]], [[RTN]], [[SNA]], [[DO]], [[CCMP]], [[RSH]], [[TRA]]…….Misses: [[F]], [[DOW]], [[EVR]], [[RGC]], [[MKSI]], [[SCHL]], [[VIGN]]
One could argue more beats than misses is good….Beating lowered guidance may not be acceptable, but it is all about perception and confidence.
With POT and TRA beating I will sell IPI into strength with only 5 minutes of exposure.
Futures are hardly down so we could see a test of 1274 S&P. Below this is 1261….but I’d bet on a repeat of tuesday’s action.
[[MDR]] has reached a long term trend line well below the 200 day; and I will re-open a position here. If you remember I got in the mid 50’s and kicked out in the low 60’s a few months ago. [[AUO]] looks like a good buy down here with them beating the street. I will also open a fractional position here. [youtube:http://www.youtube.com/watch?v=J2rxPSDUlvk 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
