I missed the close yesterday and it looks like we had a nice bounce towards the end of the day. It was another day of weakness as the IBB and IWM both struggled taking out recent lows intraday. REGN earnings aren't likely going to help the biotech sector after reporting a big miss this morning.
Gold, silver and the miners had another strong move as the market turmoil continued and that could continue to be an area of strength. After making such a strong move they could use some time to consolidate and build up more energy for a more healthy sustainable climb higher.
Volatility continues to provide nice short term trading opportunities and as long as there is fear in the markets we should see more opportunities in that space.
Oil continued to be weak however the strength of some individual oil names like XOM and COP has been impressive. Like I said yesterday it seems like we are getting a clearer picture of who will be left standing if oil stays at these low levels.
Financials continue to take a beating with some big names like MS GS and BAC all tagging new 52 week lows.
We get DIS after the close today and it could set the tone for the markets tomorrow heading into Janet Yellens speech. We are still in a quick hit type of trading market if you are looking to go long. Be careful out there!!
Volatility Oil Biotech
UVXY XIV TVIX UWTI DWTI GUSH DRIP IBB LABU LABD
Gold SILVER Dollar
GLD NUGT JNUG DUST JDST GDX GDXJ USLV UUP
UVXY XIV TVIX UWTI DWTI GUSH DRIP IBB LABU LABD
Gold SILVER Dollar
GLD NUGT JNUG DUST JDST GDX GDXJ USLV UUP
A few Stocks on the Radar premarket
FONR gapper off earnings
POWR potential snap back play off PR
No comments:
Post a Comment