Markets paused to start the week after the holiday break. Volume and leading stocks were tame. SOHU did manage to break out however. Stocks did stall even in the face of some decent news. Good home sale news, solid earnings reports and some M&A activity in the commodity space. Indexes remain firmly above their 50 day MAs. After hours some tech movement was delivered from a poor earnings report from NFLX and the announcement of ORCL CFO resigning. Could have a negative impact on the Nasdaq opening tomorrow. Gold and silver stocks reversed today after the metals themselves hit strong new highs early on. Networkers, software and internet sectors were the leaders of the day. Tomorrow brings consumer confidence reports and home price data. Earnings before the bell Tuesday include AGCO ACI CE KO F SIAL UA X VLO WAT WDR COH and APKT ALTR AMZN BRCM CHRW CBI NBR RKT SWK after the close.
Stocks near specific buy points include: Cup with handles are HAL 50.84, UPL 50.91, AGCO 57.30 (earnings Tuesday), VRSN 37.60, FDX 96.60, FLIR 35.41, CBI 42.59. Cup bases are AVGO 34.70, MXIM 28.54, SPRD 24.30, CHRW 82.15, UPS 77.10, EBAY 35.45, PETM 43.49, ABV 32.10. Double bottoms are AAPL 354.42, JNPR 42.37, EXPD 55.21. Flat bases are NOV 82.90, SWK 77.57 (earnings Tuesday). Double bottom with handle is BBD 21.44, DKS 41.93 in a 3 week tight pattern and KO 68.57 (earnings Tuesday) in a 4 week tight base.
Stocks that cna be bought if they can retake their 50 day MAs to the upside and their buy stop spots are CHK 33.25, AGU 92.75, TRW 55.75. POT UPS EBAY all retook their 50 day MAs today. Stocks near 50 day support are BHI 70.50, CVX 104.20, COP 78, XOM 84, MRO 51, NBR 29 (earnings Tuesday), NBL 93, RDSA 72, SM 71.80, SPN 38.50, TCK 54.25, WNR 17, CAT 106, DOV 65, JOYG 95.50, CBG 26.90, PPG 90.50, HS 37.75, STJ 50.10, DE 91.25, CBS 24, VIAB 46, DTV 46, ARW 41, AVT 34, DHR 51.50, WAT 85.50 (earnings Tuesday), ORCL 33, CY 20, TXN 35, BLL 36, DD 54.15, IP 28.20, BX 18, DFS 23, GR 85.85, CMG 262, SBUX 35.20, QCOM 55, KBR 35.55, RIO 70, ROC 48, RKT 68.40 (earnings Tuesday). Stocks that found 50 day support today were CXO FTI SU VLO CBE IL AVGO CNI UNP MT EAT PAG ABX.
Stocks near 200 day support are APA 111, PBR 36.60, RIG 68, WFT 19.90, WCRX 22.20, MON 63.75, BRCM 40 (earnings Tuesday), LRCX 47.15, SWKS 26, TROW 58.80, MTL 27.10, X 51 (earnings Tuesday), AMX 55.10, ABX 48.85, PAAS 33.10, JPM 41.95, HMC 37.25 NKE GOLD both met 200 day resistance today. MS can be shorted at 27, its 200 day MA. NOG had a solid 4% move today after finding 200 day support last week. NOG has now rallied almost 14% in 4 days since finding 200 day support.
Stocks that can be shorted at their 50 day MAs are APC 80, DVN 89, HES 82.25, MDR 24.05, OXY 101.75, SLB 90, VSEA 46.25, URI 31.75, RVBD 38, CSX 76, GSM 22.25, WY 23.95, AEM 68, ADM 36.10. Stocks that met 50 day resistance today were CHK DVN SLB AGU JBL ADM AA AMT. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CLR 67, IO 12.05, PXD 99.25, PLL 55.50, ARBA 31, amp 61.75, el 92.50. Stocks that lost their 50 day MAs today were APA BMC SLW AEM PAAS.
Good luck.
The author owns TTM RAX F FCX.
No comments:
Post a Comment