On Friday we had rather quite day, with the SPY forming an inside day along with the QQQQ's, XLK and XLF. A volatility breakout is imminent. Whether we get that volatile breakout today though doesn’t seem likely as the EUR has been choppy all day along with the fact that the only news catalyst coming out today is the ISM report. Unless we clear some significant levels, I won’t be that active today as the market is in balance and isn't demonstrating any clear direction. Gold is the only sector that showed relative strength on Friday and could be the only sector that’s in play today.
Longs:
ABX: A long in this gold stock thats reflecting the strength in the gold sector.
AA: A long after a major bullish candle on this slow moving stock.
ALTR: A long that broke ot of its key 31.00 level on Friday and held.
LLTC: A long after breaking out on Friday and clearing some significant levels.
TXN: A long
Breakouts:
AUY> 11.00
SLB > 70.00
Shorts:
SKX: A sell short that held well after the massive gap down
BK: A sell short again after yesterday. This stock also has room to go if it takes out its lows.
WLP: A sell short with room to go. IPT at 53.00
AET: A sell short after the weak price action on Friday.
Breakdowns:
CSCO < 22.80
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