Take a swing here. McClellan approached -80 today. Market range in tact. At this point, one should not fear Brexit as much, but rather should fear that it doesn’t happen.
This is another market inflection point here. The Nasdaq is trading right back into May’s balance. Might make sense to nibble if you haven’t yet, very easy to manage risk here.
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Very insignificant reaction to the Fed here. I’m finding very little I want to do here besides get outside and enjoy the sun as quickly as possible.
Breadth is running great under the surface here. Correlations dropped quite a bit since Friday’s spike, and speed has come back down considerably. Small caps are out in front, which is usually a great sign of what the market is wanting to do here.
I like $AAPL a little lower, $CHKP, $GPRO, $KATE and $FTI. Picked up $PANW today and missed my $FCX under $10 entry yesterday that has me sitting here dwelling in pissed.
Top picks here?
OA
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Almost a month ago, I blogged about my new purchase in Bitcoin. Here’s the chart:
Here’s a look as of today:
As a quick follow up, Bitcoin traded north of $700 yesterday. Not a bad return in three weeks.
Anyone follow this? Shot out to JB for getting my to pull the trigger last month.
OA
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Seems like a break of this ought to set the stage for a multi-month move. Perfect week to grind out into the middle of this range.
Building out my watchlist right now, so many great setups out there. Best batch in weeks.
OA
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I bought $FB calls at the open.
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This has been an incredibly busy week for me, so I apologize for not getting conversation started sooner. When trading conditions are this amazing, I write a lot less, trade a lot more.
Speaking of which, I picked up $EVEP, $BIDU, $PACB.
In last nights discussion on energy, we picked out the laggards of the bunch, which are all in the top 20 performers here today. Some of the quality names are off by 2-3%, which presents a buy opportunity, IMO.
After the bell, we’ll look at the group of stocks that are down for dip buy set-ups, and also venture into alternative energy…for an upcoming rotation down the road a bit.
Thanks to all that participated this week. See you after hours.
OA
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