Good morning folks,
After going through my scans last night the indexes look tired they have been overbought and yesterday we started to see some weakening in the knees. This is not to suggest there is a dramatic drop on the horizon but we could get some healthy pullbacks.The holidays are approaching and the volume will likely begin to drop off.
Oil and gold continue to drop and there will likely be a capitulation move at some point when that occurs there will be a tremendous opportunity for a snap back play. However, trying to anticipate it can be a dangerous game. One encouraging thing that happened yesterday is the announcement that HAL is interested in buying BHI. After the big drop in many oil services names consolidation in the industry makes sense. The bigger will get bigger and the smaller will either get gobbled up or disappear. The same thing will likely happen in the mining industry.
DGLY did exactly as the video over the weekend suggested. It had a great run right up into earnings and now it is gapping down off of earnings. This is a perfect example of why it is difficult to hold stocks through their earnings report. Hopefully some of you got to play DGLY this week and booked some profit.
Stocks on the Radar
GERN off big pr last night can be a pop and flopper so look for ideal entry, WFT could be in play off HAL news, TUBE earnings winner testing all time highs a bit extended so be careful, CYBR potential continuation look for red to green, STEM MITK swings, UTSI announced stock buyback program thin one could be a bottom play, REED thin one nice daily earnings beat, SPU big gapper off earnings china name thin so be cautious don't chase it, BONA earnings beat 7 dolla roll can also be a pop and flop so looks for support, GSAT for the 3 dolla roll, BDR earnings pop nice daily, IMSC earnings and contract announcement could be a runner
Small oil and gas could be in play AAV AXAS EXXI GST AXAS PVA you get the idea
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Planar Systems (NASDAQ:PLNR) - new article by Southern Equities »
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-15.2% since Nov. 5
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Today's Markets:
In Asia, Japan +0.6% to 17491. Hong Kong +0.3% to 24087. China -0.3% to 2479. India +0.4% to 28047.
In Europe, at midday, London -0.2%. Paris -0.1%. Frankfurt -0.4%.
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.2%. Crude flat at $74.22. Gold -0.7% to $1152.90.
Ten-year Treasury Yield flat at 2.35%
Planar Systems (NASDAQ:PLNR) - new article by Southern Equities »
Xpel Technologies (OTC:XPLT) new article by Unconventional Capital Wisdom »
-15.2% since Nov. 5
Ascent Capital Group (NASDAQ:ASCMA) -26.1% since April 21 Rajiv Bhatia article »
SA PRO subscribers get an early look at Top Ideas and access to the SA PRO research library. Learn about SA PRO »
Today's Markets:
In Asia, Japan +0.6% to 17491. Hong Kong +0.3% to 24087. China -0.3% to 2479. India +0.4% to 28047.
In Europe, at midday, London -0.2%. Paris -0.1%. Frankfurt -0.4%.
Futures at 6:20: Dow +0.1%. S&P +0.1%. Nasdaq +0.2%. Crude flat at $74.22. Gold -0.7% to $1152.90.
Ten-year Treasury Yield flat at 2.35%
Today's economic calendar:
8:30 Retail Sales
8:30 Import/Export Prices
9:00 Fed's Bullard: U.S. Economy and Monetary Policy
9:55 Reuters/UofM Consumer Sentiment
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
4:00 PM Stanley Fischer
8:30 Retail Sales
8:30 Import/Export Prices
9:00 Fed's Bullard: U.S. Economy and Monetary Policy
9:55 Reuters/UofM Consumer Sentiment
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
4:00 PM Stanley Fischer
Notable earnings after today's close: OTCQB:VPCO
Best of Success!
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