Traders, we are in a stock specific market.
What does that mean? It means stock traders need to be patient for great trades. It means it’s OK to be in cash. It means you need to work hard to find something new. If you are looking for trades after the stock market opening bell, you are going to have a tough time making money.
This is not that type of trading environment. The major indices are in a holding pattern and will most likely stay there until after the FOMC next week.
Be patient my friend.
Stock Market Today: Map of the S&P 500
(click the map for a full view)
The SPY is stuck in neutral until next week. Day trade? Yes. Swing trade? No…
(click the chart for a full view)
Stocks to Trade | Friday September 11, 2015
- Tough tape if you are lazy and aren’t patient.
- Oil and gas should be trading lower but for some reason there is apathy from day-to-day. Still watching the charts but the sell-short is taking it’s time.
Charts in Focus
$91.20 was the level Facebook price struggled. If FB stock rallies today, we believe it will make it’s next run to get over $100. FB has closed above $91.20 and above the 50 ema on the daily chart. We are looking for the first target of $96.
(click the chart for a full view)
Earnings in play today > 1M avg shares: KR,
Stocks that showed relative Weakness– contra to the SPY positive change from the open on 9/10/15: lulu, mbly, wmb, xpo, pypl, wynn, dg, cvc, fit, qrvo, qihu, fsl, crzo, terp, big, w, bita, wuba
Above the 20sma, up for the week and closed 2% higher from the open: (not necessarily all longs, but stocks to note for the price action of strong close from the open and above the 20sma): AAPL, VLO, FB, GMCR, KLAC, CAH, LNKD, INCY, DXCM, NTES, PXD, WNR, JUNO, MDVN, KITE, VRTX,
Bullish Ideas ATR/Volume/Price: CAM, LB, TJX, AMZN, FB, UA
Bearish Ideas ATR/Volume/Price: gpro, amba, qihu, wynn, mbly, lng, vtr, fit, cybr, baba, de, clr, myl, hp, dvn, dltr, lvs, apa, terp, mjn, abbv, amt, slb, wmb, dg, twx, wmt, cvx, apc, pg, nbl, hal, nee, trip, duk, mon, cat, utx, hes, xom, hot, etp
Weak Stock Weak Close: dg, fit, mbly, pypl, qihu, terp, wmb, wynn
Strong Stock Weak Close: CVC, MGM
Weak Stock Strong Close: adt, trip, fast, pru, do, adp, amba, mur, pld, grub, aer, amgn, coh, cnq, su, kim, wy, nbl, symc, qcom,
Strong Stock Strong Close: JBLU, ATVI, HRB, AMZN, FB, UA, NVDA
20 day Breakdown: dg, dltr, lng, lulu, wynn
20 Day Breakout: GMCR
2x Normal Volume: LULU, MBLY, TE, BEE, WYNN, DLTR, LNG, ADSK
Watch List Longs: BBY, TJX, TWC, BRCM, AKAM
Watch List Short: kss, abt, slb, wmt, cvx, ms, hal, all, ko, xom, adm, jnj, wynn, lvs, m, wmt, wmc, dd, nue, hpq,
Inside days: gpro, symc, acn, wy, mrk, pfe, lb, orcl, bmy, rio, ppl, afl, rost, ge, ko, psx, vod, nbl, qcom, aapl, jblu, csx, yhoo, amtd, nflx, mon, tso, baba, swks, aal, crm, amba, ba, coh, ed, jnpr, goog, fslr, twtr, googl,
FB Stock Rallies | Facebook Seeks to Regain Bullish Tone
Facebook (FB) Stock Rallies After Releasing New User Statistics in African Markets
After Facebook released earnings in July, it seemed as if the bullish bias was over. We heard talks of “give us time” and “margins were off but these are long-term investments.” Our trading game plan for FB had us looking for the stock price to make a solid run through the $100 level. recent relative strength and the news about user statistics show us the buyers are ready to step back in.
NEW YORK (TheStreet) — Facebook (FB – Get Report) shares are jumping 1.36% to $91.70 on Thursday afternoon after the social networking company reported new statistics from Nigeria and Kenya showing active monthly users, Reuters reports.
This is the company’s first time releasing data on the two African countries. In Nigeria there are 15 million active monthly users and in Kenya there are 4.5 million active monthly users.
Year-over-year users across all of Africa grew to 120 million this June from 100 million users in September, Reuters added
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