The oils led the way today, as traders flocked to beat up oil plays like SDRL, OAS, & APA. Solar even caught a nice ramp from oversold levels, FSLR continues to be my favorite there.
The indices did little today in terms of bouncing off the lower end of the range, but that is still a victory for the bulls. We were on the brink of a breakdown early this morning, one we have to be on guard for this upcoming week. We still have a bunch of earnings to sort through as well as big jobs report to finish off the week.
High probability setups are still hard to come by, and I continue to believe that cash is the best position here if you are unable to move in and out of stock quickly.
$FB is lower on the day, and it looks like long time reader, The Frog, we be safe from his bet. $TWTR reports later this week and needs a good report or the huge head and shoulders setup comes into play. I’m also looking forward to $GPRO report on Thursday, should be fun to watch and trade.
I’ll be back later with a few charts to watch for the upcoming week. This should be an interesting as well as a telling week in the market.
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The oil trade is working well, better than I expected. Maybe I’ll sell today and plow the money into Big Oil.
And look at Marcel, up 12%. You owe me one.
indeud.
Good close here.
Bulls making a statement with this close.
UWTI. Next time i sell a stock, i will announce and you all should buy.
With that in mind, still strong conviction for the EUO long medium time frame.
World’s worst trader, signing out.