Post feedState of Amusement
Back to my stance from a few days ago, I consider earnings season to mean "Neutral Market Conditions." It is tough to rely on trend, indicators, etc when a day like today the market posts gains on profit reports from Yahoo, Sun Micro, etc. Make sure you trade strength or weakness primarily in individual issues for the next few weeks, and be cautious around your earnings announcements.
Anyone watch the State of the Union? Bush calling out for expansion of health insurance coverage and a reduction in gas consumption. Right on dude. I hate political topics, so I will stay away from opinions for now. But in response to his speech, how have stocks responded?
Health Care Index ($HCX) Currently up about 1/2 a percent.
Oil Index ($OIX) Currently down about a third a percent.
Other indices moving higher: Pharmaceutical, Broker Dealer, Gold, & Internet stocks.
Good movement thus far out of the market. Great things are setting up. Such as my next post...
Be back in a minute.
Anyone watch the State of the Union? Bush calling out for expansion of health insurance coverage and a reduction in gas consumption. Right on dude. I hate political topics, so I will stay away from opinions for now. But in response to his speech, how have stocks responded?
Health Care Index ($HCX) Currently up about 1/2 a percent.
Oil Index ($OIX) Currently down about a third a percent.
Other indices moving higher: Pharmaceutical, Broker Dealer, Gold, & Internet stocks.
Good movement thus far out of the market. Great things are setting up. Such as my next post...
Be back in a minute.
I thought I'd post an interesting setup i've been watching.
RUTH has BOTH a flag break on solid volume and a support bounce happening today. My target by earnings (2/22) is $25, which would make those $22.50 calls at $.65 each pretty nice.
I know there's no dominant overall trend, but it did have a breakout on VERY strong volume before this recent pullback, so there's the potential for this slow-mover to actually pick up quickly.
Anyway, hope someone takes a look at it.
Posted by
Anonymous |
1/24/2007 12:28:00 PM
Brett I also looked at the Ruth and took the trade at .65 at least i wasnt the only one.
Danny DR
Posted by
Anonymous |
1/24/2007 02:17:00 PM
Did you guys/gals see ICE (flag break) and VIP today. Man that thing is making us some serious coin!
Danny DR
Posted by
Anonymous |
1/24/2007 02:21:00 PM
Allen,
I bought ATI after the earnings announcement today. It waffled for an hour or so and then took off. The volume was impressive. I am very happy as I am sure you are. It closed at a new high for the last 5 years. My plan is to put a fairly tight stop on it tonight and hope the trend continues. The stock price is unchanged in after hours trading so far. As Jeff said, be fearful for your loosers and hopeful for your winners. Good luck.
Sean M.
Posted by
Anonymous |
1/24/2007 04:36:00 PM