XLV, TLT, & FXI lead the way this morning and start the year off strong. Oil was green in the overnight session, but has flipped red on the day. Are you guys still thinking bear trap there? Other strong industries include:
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I bought a little $HIMX this morning, based off the consolidation pattern on the daily chart. If this thing can get back over the high of day, she’s gone. Keep an eye on it. Some other possible runners include: GPRO, ARWR, APP, YY, FRO, CLDX, VJET, VNDA.
Click here for the full runner screen.
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Rage, didnyou exit your BABA position?
Still long.
Something really fucked up is going on with oil and one of two things is gonna happen:
1. If global demand is really this low that even $50 oil cant be supported, the entire world is in a recession and the US is going to get hammered as some point. At no point in history has the rest of the world suffered this badly without the US catching a cold.
2. This is artificial and temporary suppression of oil and a monster relief rally is coming. To some extent oil stocks are reflecting this as they are showing relative strength in the face of this last $10 downmove in crude.
No idea how this pans out but I have placed my bets on #2
thinking and hoping the same on #2.
Tend to agree with #2 as well. But I guess we’ll see…
RC
For the 2015 stock, I picked ANF and not ANFI 🙂
ok, will adjust it. Thanks.