rurkey, what's the plan today. ANR is providing support for coal sector. But I wouldn't trust anything in this market, especially with coal stocks.
rurkey, as I said trading pattern for WLT changed yesterday. I also said that if job numbers came in at +10% above consensus, markets would rally. Consensus was 180,000. Actual was $203,000. But their was a -4,000 revision to October's number. So the net was +19,000 jobs. That is 10.5% above 180,000 consensus. That was a sweet spot. So no tapering fears for December. Markets rallied...
Holding steady for some time now. Good indicator for longs.
On tomorrow's job report. Ideally, only +10% above consensus. Any higher, it will cause a market sell-off because good employment numbers will initiate fears of Fed tapering. It's always a balance with these...
The ADP private job report yesterday actually came in above consensus. So I think Friday's job report should be okay.
The downtrend in the market this week has been tapering fears. Plus, there is end of the year tax selling, upcoming fiscal and debt-ceiling conflicts come January/February. So one should only be day-trading for the next 2-3 months.
rurkey, I think you made a mistake. For the last five previous sessions, WLT popped at the open and lost most of gains by close. Today was different. It did not have the opening pop. Instead, it has been gaining steadily since the open. This is finally the pattern I've been looking for. It more likely that today's gain will hold now.
Wow, this is the fourth trading day in a row where WLT rallied at the open only to lose the gains. So the only real course of action is to buy at end of day, sell the next day at the open, short it, cover and buy back before close. Rinse and repeat. But if there is one thing I know about the market is that the moment you think it becomes predictable, they change the game on you.
Looks like another pop & drop today. But each time the closing price has been higher than previous close. Today will be no difference unless somehow markets reverse and rally into the close. WLT needs to close above $15 to signal a true reversal...
WLT has been spiking and tanking for the last three trading days so far. It basically ends up at the previous day's close. Exciting and boring at the same time.
When the expansion news yesterday failed to rally the stock, that was strong indicator that this stock was in trouble. Not just SCTY but the whole solar sector. Just look at SPWR and FSLR for other examples. Cheap oil (especially after the Iran deal) will have long-term negative impact on solar sector.