Scalper1 News
Major averages gapped lower yesterday on mixed volume with the NASDAQ logging a distribution day. The choppy rip-tide action of markets since December makes timing the market quite treacherous. The sidelines are often a good place to be during such times. The Fed will be coming out with its monthly policy announcement, which could add to the volatility. Meanwhile, stocks on the long or short side can continue to offer opportunities on a stock-by-stock basis. Stay tuned. Apple (AAPL) AAPL crushed estimates on record iPhone sales. NASDAQ futures are up 0.95% at the time of this writing as a consequence of AAPL gapping higher by more than 5% in after hours trading. If this pans out as a buyable gap-up we will report on it later this morning. Microsoft (MSFT) and Caterpillar (CAT) both gapped lower yesterday. at the open on weak earnings reports. Members who might have shorted Workday (WDAY) per our pre-market pulse report of Monday morning at the 200-day moving average should continue to use that as a guide for an upside stop. Meanwhile Tesla Motors (TSLA) has rallied up to its 20-day moving average where it may be shortable, but keep in mind that earnings out due out in the latter half of February. S&P futures are up about 0.3% at the time of this writing, while NASDAQ 100 futures are up just over a percent thanks to AAPL’s impending gap-up at the open. Scalper1 News
Scalper1 News