TruCharts.com - Stock Charts Blog PM Update 10/3/2014
TruCharts.com - Free Stock Charts - Futures are higher today after the employment report - where the economy added 248K new jobs in September and unemployment is at 5.9%. Gold dropped as we predicted to $1200. Fed is now comforted by this employment report and it can move along on its draining liquidity. We said we expect the markets will bounce from this level and this oversold condition to the 50 day SMA - and that is what we are seeing this morning
We will short GM as it moves up to the 50d SMA. We DO NOT LIKE the biotech stocks - if you have positions and profits in this sector - please sell and take profits. We would sell into any rallies.
Staying short LUV, HPQ, DAL, SNDK and GM.
Subscribe to our site - we offer free trial for 30 days and and full access to all the features of our site for only $15 per month and access is also available for only $9 per month. Check it out at: Subscribe now!!
No comments:
Post a Comment