Interesting day ahead, we are likely to find a gap today after the news on the weekend regarding Egypt. The weakest sector in the US markets last week was the financial sector and the strongest was conglomerates followed by industrial goods. The SPY sold off on Friday but that doesnt change the trend, I expect the market to continue to demonstrate weakness today but that doesn't change the fact that we are still in an upt trend. I will be open minded to both long and short ideas.
On a side note, the VXX also finaly popped on Friday after I had indicated in previous posts that buying had entered the volatility ETF. This could be taken as a sign that sellers are begining to gain control at least for the short term.
Longs:
HAL
NOV
COF
SLB
Breakouts:
SLB>88.00
DD>50.50
MO<23.70
Shorts:
MRK
JNJ
MCD
URBN
AVP
T
ANF
SNDK
On a side note, the VXX also finaly popped on Friday after I had indicated in previous posts that buying had entered the volatility ETF. This could be taken as a sign that sellers are begining to gain control at least for the short term.
Longs:
HAL
NOV
COF
SLB
Breakouts:
SLB>88.00
DD>50.50
MO<23.70
Shorts:
MRK
JNJ
MCD
URBN
AVP
T
ANF
SNDK
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