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October 8, 2014

Blog Update - Stock Charts - TruCharts.com - 10/08/2014

TruCharts.com - Stock Charts - Update - 10/08/2014

Well what a rally we had today from being down in the morning.  The Fed speaks and the markets react.  Volatility down; Gold up and utility stocks up today.  Gold miners bounced up from new lows.  Fed hammered the US dollar and extended the statement of the rate hike calendar to be data dependent.

We expect some follow through on this rally since we believe this is a short covering rally from a slightly oversold condition and high VIX.  We would sell into this rally - we still like AAPL as a long buy.  We are still short GM, HPQ.  Long AAPL, T, ED and YHOO.

Watch the earnings coming up.

Good luck trading.

Trucharts team

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