The market continued to trade in its range yesterday without any significant movement. The strongest sector remains to be technology. Nothing much has changed, we will remain in a stock specific environment until we clear the 116-119 levels in the SPY and that wont happen unless we get a catalyst. Tomorrow's GDP report could be the catalyst everyone has been waiting for.
Longs:
BRCM: A long that blased off after its earning yesterday. The gap up was on ultra high volume and the stock managed to close on its highs.
UAL: A long.
DAL: A long with room to go. IPT 14.40
ALTR: A long that took out its key resistance level. at 31.00.
TXN: A long after yesterdays price action.
DIS: A long with room to go after taking out its range for the past 5 months.
DOW: A long that had an inside day before yesterday then had a bullish u turn pattern day yesterday. Strong stock with room to go.
Breakouts:
LLTC > 31.80
MS: < 24.00
MET>40.90
Shorts:
Non as gold stocks showed intraday strength yesterday after they failed in their attempt to take out support.
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