Thursday, October 7, 2010

After Market

Markets sputtered to a mixed finish despite decent jobs numbers. Volume sank in anticipation of tomorrows big job number. Leisure stocks got hit today with the likes of HOT MAR PCLN falling in heavy volume. After the close AA started the earnings season on the right foot. Shares were higher after hours. Gold took it on the chin today mapping a bearish downward reversal.

CPX BEXP XEC WLL all showed decent relative strength despite oil stocks showing general weakness. APC still having trouble with that 200 day MA. If it can break thru though @58.40 the scenario becomes bullish. PBR is a shining example of what happens when government interference takes place in a stock.

MCO JWN both continue to trade admirably higher after finding support at their 200 day MA. TEN can be bought @27.20 and SWKS can be bought @19. Both their 50 day MA.

Changes to the portfolio today were shorting WFMI @35.75 as it pierced its 200 day MA.

Good luck.

The author owns EXXI WLL APA. Short AVGO PSA WFMI.

No comments:

Post a Comment