The market continues to grind higher here leaving bears frustrated yet again. They scream for a pullback yet have to endure another green close in the NASDAQ, making a solid 10 in a row. But, how long can it last?
Biotech sold off today, after that potential reversal daily candle we highlighted yesterday, but overall is still in an uptrend. IYR is starting to crack here, which concerns me a bit, closing back below the 50 day moving average. And, oil continues to struggle with the $50 level.
That said, the only thing that concerns me are the setups. Inside our trading room, 12631, we nailed a good trade in CPRX, highlighted from last night’s hybrid screen. We also caught a great trade in EYES, as well as held a few shares for the overnight gap coming in the AM. HABT is working, and both MEET & MOMO closed well on the day. All is right sans our VSLR trade.
Other names on my radar include: DNR, BBRY, BDSI, GRUB, & GOOGL
As far as today’s top hybrid movers, have a look here:
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I’ll be back later tonight with some charts for Wednesday. If you have an setups worth watching, feel free to highlight them in the comment section.
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Nice work player. Indeud.
After dipping below 32 three times SHLD marches higher, are you a buyer? All of the naysayer – shorts are still out there pounding tables demanding bankruptcy…
Looks good to go here.
Look at that HD. Not sexy like BABA, GPRO, TWTR. YELP, FEYE etc but a hell of a lot more profitable…