Hey ladies and gents!
Nice couple days in the market as we continue to bounce strongly off all bottoms. Despite the choppy nature of the S&P there are still opportunities as long as we trade the right names (which is tricky to do!) I continue to see lots of opportunities in well-known companies with catalysts (both long and short) like TWTR, GILD, NFLX, GOOGL and the like. I took a small swing today at $111.04 on NFLX as it has pulled back after its earnings breakout and filled most of the gap, and now has shown its first sign of followup strength. I plan to just hold for a few days and will consider the action of the market also since NFLX will likely be affected by SPY weakness as well as strength. Tomorrow I'll be watching VLTC and REN for continuation of their moves upwards today. I also really like the look of ETSY. It had a strong uptrend today and seems to be trying to confirm its hold above the 200dma. It also has a positive catalyst after Google said in its Q2 earnings report that its updated search algorithms were directing more search traffic to sites like ETSY. I continue to look for opportunities like this where we have a liquid stock with a positive catalyst and a nice technical pattern as the combination (especially when the market is in bounce mode) seems to yield some good results. Finally, I'm also still watching ASPS and will keep LNKD and EXPE on the list as they both had strong volume after hours on earnings (LNKD down, EXPE up). I expect them both to be in play tomorrow.
Hope everyone had a nice day and feel free to let me know if you have any questions!
Chris
EDIT: god damnit it's the 31st tomorrow. My bad. haha
Submitted July 30, 2015 at 10:52PM by ghostofgbt http://ift.tt/1fNwNUY
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