Scalper1 News
Major averages finished mixed yesterday on mixed volume though managed to recover some of their losses. Leading stocks overall, however, took it on the chin for the second day in a row. Such action implies difficulty ahead. Today’s Federal Reserve meeting concludes with the release of the Fed’s statement around 2:15 pm EST. Given the continued uncertainty and weakness in the global economy, their dovish stance so far is likely to persist. This could spark a rally. A number of leading stocks, however, have been compromised, most notably Twitter (TWTR), which missed badly on earnings yesterday. TWTR contributed to a bit of drama yesterday when its earnings results were leaked before the close, leading to a stock halt as the stock began to trade down to the 47 level. The stock was re-opened before the close, and ended the day at 41.11, down over 18% on the day. Hardware and software security systems company Vasco Data Security (VDSI) had a buyable gap up on a strong earnings report. Earnings are skyrocketing, sales are accelerating, pretax margin 22.7%, group rank 6. Scalper1 News
Scalper1 News