Yesterday was a very interesting day. First thing in the morning it looked like we we had the perfect storm. Oil was bouncing the market was up strong and stocks were looking like they were going to recover. Then we had a strong reversal on heavy selling. What made the day so interesting is the dollar was also weak. Normally that would give us some strength in commodities like oil and gold. There was really no place to hide yesterday> Transportation, Biotech, Healthcare, Home builders, Retail, Defense, Small cap, Mid cap, Large cap, Cyber security, Energy, Social, Tech and even the beloved FANG stocks were under pressure. There were some good day trade opportunities early in the day but then things started to unravel and once again I had to remain on the sidelines.
We did some technical damage yesterday and unfortunately, as we head into the Fed decision next week, things could get more volatile. There is likely going to be some choppy action as we head into the end of the week so have a plan and try not to over analyze things. If the market is not giving you what you want then take the time to study. Step away from the computer, go out and enjoy your day.
We talked about the Solar sector last weekend and FSLR reported last night and the guidance was pretty conservative so it doesn't look like that will be the catalyst to move the sector higher.
Stocks on my radar premarket
Bullish and may have a swing or lottos in play
Cautiously optimistic
Very Cautious may even present a short opportunity ..
07:34:37am
12/10/15 |
H.C. Wainwright Initiates Coverage on Vuzix at Buy, Announces $10.00 PT
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