Tuesday, February 9, 2016
Joined Jan 27, 2008
6,316 Blog Posts

Monday Night Charts

peytonbeer

$RUT Russell 2000  – The small cap index, often known to gauge the appetite in risk, undercut the lows made back in January today.

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$XLF – Completely fell out of the bear flag pattern we were watching last week. They key to any sort of bounce lies within the financials:

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Gold was the strongest industry on the day and continues to find buyers:

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Heathcare took it on the chin today, down over 3% on the day, with Utilities holding up the best, (defensive in nature). Here are the top industries on the day:

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As for today’s movers, here are a few worthy candidates: CLICK HERE FOR CHARTS

 

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Happy Lundi Gras

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I sat on the sidelines today with popcorn in hand. It’s Lundi Gras down here in N’awlins, and my trading has come to a standstill.

The bears had a chance to make this Monday that of the “black” variety, but couldn’t seal the deal late in the day. Watching today’s action was very reminiscent of 2008 when all hell broke loose. Watching $CHK trade down to a $1 handle, watching the banks get poleaxed intraday, I was surprised to see such a sharp rally near the bell.

We all know the best rallies happen in bear markets. Will today’s late day move stick? Doubtful. We have yet to see full blown panic with a breakout “parabolic” move in the vix.  We were close today, but didn’t get it.

I will continue to tread light here.

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Weekend Top 100

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Here’s your weekly look at the top 100 ranked stocks. This following screen searches for stocks with the highest scores inside our software Exodus, all with positive free cash flow.

Stocks must trade an average volume of over 300K shares to make it to this screen. The results below are sorted by average volume versus actual rank. To view the ranking, the official screen for members can be found & saved HERE.

I’ve imported the this week’s screen to finviz for your viewing pleasure: CLICK HERE TO VIEW THE TOP 100 RANKED STOCKS

What’s interesting to note is the move in the Gold & Silver miners in this week’s screen. They absolutely took off.

$UMC takes the number #1 spot this week.

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Weekly Scorecard

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Here’s a look the strongest industries week over week in Exodus:

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As far as individual hybrid movers, here are the top movers on the week for review this weekend:

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$SPX Weekly Chart – 1867 is the low to watch next week. Bulls need a miracle.
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For those in Louisiana, Happy Mardi Gras Weekend.

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GoPro announces licensing deal with Microsoft

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GoPro Inc. shares got a lift in late trading after it said it signed a licensing agreement with Microsoft Corp.

Terms weren’t disclosed for the deal that involves patent sharing for file storage. The shares jumped 4.9 percent $10.45 at 4:28 p.m. in New York.

The announcement comes as GoPro is trying to convince investors it’s making progress on improving software editing capabilities for its action cameras. Sales of its flagship model stalled over Christmas and the company issued fourth-quarter earnings and a first-quarter forecast that were worse than analysts had forecast.

READ MORE

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Trade Ideas For Friday

rick-ross-wing-stop

AAPL: I’m looking to buy a move over Thursday’s high, 97.33, which also correlates with the 20 day moving average. Further strength should squeeze shorts out of their position.

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FIT: Fitbit has a chance to squeeze here after being taken out back to the woodshed in late 2015, early 2016. Watch for things to get fast with a move above Thursday high, 17.25:

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WING: With Super Bowl weekend upon us, I’m betting this one breaks higher here– I like it over Thursday’s high, 24.32:

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See you guys at the open…rick-ross-wing-stop

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