From Tze (Trading Day 2011-09-19):
We will start the week off by discussing two crazy stocks! The stock model for this week is updated and can be directly downloaded here: FocalEquityStockModel_20110918
Research In Motion Limited (USA) (NASDAQ: RIMM):
RIMM suffered a devastating loss on Friday. However, right now our model favors this stock as a buy again. RIMM’s ranking skyrocketed to 294 out of 3,514, landing solidly within the top 10% of our stock universe. So the model wants to BUY BUY BUY.
Rockwell Collins, Inc. (NYSE: COL):
COL traded in a huge range on Friday. However our model still doesn’t like the stock. Now it ranks 3,051 out of 3,514. Friday’s action is a good time to resume shorting this stock.
From Channelguytrader:
Hello Traders,
Hope you guys are enjoying your weekend!! After last weeks slow melt up and tough tape we needed this well deserved weekend to take a look back and see what the market has given us. The Nasdaq is definitely the strongest index out and has been causing this market to put some risk on in these high growth and high beta stocks. We had AMZN hitting all time highs and we have AAPL trading back up towards the highs after it broke the downtrend resistance line on the daily. I personally trade a lot of commodity stocks and they have been trading real wild. As you guys can see in the video I posted above, the dollar seems to be at some support along with the VIX. Therefore, I am expecting some pull back to start early next week and maybe even Monday after we try and push up a little bit more. The chart I had posted the other day with the hourly pattern on it looks to have been a bear trap like I stated was a possible scenario and noted in the chart. I am going to give you guys an update of that chart when I head to the office later today to train a new trader coming on board. So again back to the markets, I am expecting some type of pullback early next week and then wouldn’t mind getting short some stocks. I will be focusing on the commodity sector to the downside and maybe looking to buy volatility. One thing that worries me though is we are in a downward bullish channel on the VIX and could still have a couple days more to the downside which would mean this market has more upside to be had. Only time will tell and tomorrow is going to be a good day to pick up some clues on the direction of the market going into the rest of the week. Hope you guys enjoy the video and contact me if you have any questions.
RIMM’s decline stopped despite the huge market drop. COL dropped over 5%.
Hello traders, so far todays tape action is very slow. We had NFLX get hit with some heavy selling intraday and we have some stocks that showed relative strength off the open like LULU. I shorted some FCX above 41 and covered and haven’t traded it since, but there were some good trades at the open, but then after that the tape slowed down a lot. Be patient !!
Our stock model made a great call on NFLX. The stock dropped over 15% since we issued our call. Of course we called on that short a month ago as well.
An another interesting observation is that it seems people are losing confidence in gold. On a day when the financial health of Europe is called into question again, gold actually declined along with stocks.
Interesting day in the markets guys as we had some Greece news come out in the last two hours I believe it was and push the markets higher more into the gap. We came off a bit from the highs, but again another day in favor of the bulls.
Yea. What’s your take on the market’s comeback intraday? I don’t feel quite confident about it myself.
Looks like we have some more Greece headlines out.http://www.reuters.com/article/2011/09/20/us-markets-global-idUSTRE77L0AE20110920