Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Minyanville's T3 Morning Market Call: Market Looks to Recoup Friday Losses

By

Banks have been on the stronger side while the tech sector has been very heavy.

PrintPRINT
Google (NASDAQ:GOOG) released earnings midday, and it actually gave opportunity for those at their desks to think quick and sell some longs, and perhaps catch a nice short. Then on Friday, it continued lower after trying to open up. The stock is going to need a lot of time to repair the damage. Friday's low was $672, which is now the level to trade against, but I see no reason why it can't see a move down to $650ish over a bit more time.

IBM (NYSE:IBM) missed earnings and has a huge hole in its chart. It couldn't hold its 100- and 200-day MAs and gave some clues of the coming weakness. This stock will need a ton of time to repair.

LinkedIn's (NASDAQ:LNKD) high levels stops were prudent as $116 was that spot to sell if you trade intermediate trends.

Amazon (NASDAQ:AMZN) is working lower like the other high beta names. Its 100-day MA is $236.

Microsoft (NASDAQ:MSFT) is below all moving averages. If the new Windows doesn't get a warm reception this week, it can see lower prices. $28-$28.50 is big support.

Facebook (NASDAQ:FB) stock has been very weak and reports early this week. I will look at it after the report.

Banks have been on the stronger side, make sure they continue to hold the 21-day moving average for upper support.

Citigroup (NYSE:C) helped to lead the way and then gave a traders a nice calculated short entry Thursday. Decent support lies at $36-$36.25.

Goldman Sachs (NYSE:GS) has been strong. If you want to have a high level stop, use $123.

JPMorgan (NYSE:JPM) has been a bit choppy but still remains a buy on dips. $41.55 is decent support to keep an eye on.

Bank of America (NYSE:BAC) is trying to hold above $9.20-9.40. If the market doesn't fall apart, this could be worth a trade through $9.60-9.80.

Homebuilders are also a bright spot.
No positions in stocks mentioned.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE