iBankCoin
Joined Jan 27, 2008
7,132 Blog Posts

Gold Has The Momentum To Start The Week

What an ugly way to start the week as momentum names got absolutely clipped on no news. It’s Fed week, so nothing else matters, not even earnings. $AAPL earnings are on deck, but it likely will be a non-event. The market only cares about an interest rate cut.

Gold led the charge higher with $JNUG & $NUGT being the safe haven. Oil tried to get moving towards the end of the day and even closed green. Should we get a rate cut get ready for inflation and the $100 tomato. My guess is we see rates unchanged.

As for our momentum screen to sort through to start the week, here are the names: CLICK HERE FOR SCREEN.

$TSLA had a nice bounce back, $HEXO had a turnaround day, $OSTK continues to squeeze higher, $AKS is worth an eye, $HUYA is a buy with the esports hype, and $CHWY closed the day out like a man.

It’s a dangerous week to trade, so make sure to watch out for landmines.

Less is more.

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