December Jobs Report: Here’s What to Watch For
The Labor Department will release its official hiring and unemployment figures for December at 8:30 a.m. on Friday, offering the latest picture of the American economy.
Wall Street analysts anticipate a job gain of about 180,000 in December, a pickup from November’s increase of 155,000. That would be a solid cap to a year of surprisingly frenetic hiring.
Position Trade Alert
I’m not a bottom picker… But there is a way to start nibbling on some of these beaten down stocks.
The chart of ROKU shows long-term support and plenty of profit potential. I’m game planning for a position trade using the “failed test” strategy.
Placing a buy-stop at $32.50 and planning for a $46 profit target. Stop loss on a close below $30.
** Position trades are typically longer than swing trades. A position trade can last from 30 days to 3 months. Swing trades typically 2-10 days.
A “Failed Test” is when price makes a new 52 week high or low, and fails to break that level again. This setup creates nice opportunities that start new trends in the opposite direction.
10 Oversold Stocks Due for a Bounce
We live in turbulent times. One day, the market decides to post its worst Christmas Eve performance ever. Two days later, the Dow Jones Industrial Average posts its first-ever 1,000 point rally.
Such is the nature of volatility. Up big one moment. Down big the next. For long-term investors, this volatility is little more than noise.
But for short-term traders, there is opportunity in this noise. This extreme volatility often results in huge dips that push stocks into near-term oversold territory. Those dips are worth buying.