What will you trade this week? We like these stocks...
A hectic week and now the earnings train will come to town this week. So many earnings, and we can expect, very likely a lot of surprises and disappointments - we love Wall Street - they have been lowering the earnings estimates and then it is very likely that the company will beat the lowered estimates and everyone looks like a hero - the CEO, the analyst, CNBC and news guys love surprises. Is it going to be a train wreck or a smooth ride - what is the Q2 forecast going to be like - these are the questions we need to think about.
In the background we have the Euro dropping, oil moving higher and gold also. The European markets are ripping and now the experts are predicting if the British pound is going to drop thereby driving British stock market higher - well we are in a currency war now. The Chinese and Hong Kong stock markets are on an exponential move and we had pointed to an article on our twitter post https://www.twitter.com/trucharts) about how housewives in China are now playing in the Chinese and Hong Kong markets. This is not about to end yet - bubbles do not end abruptly - these end when everyone on the streets, including your barber, is talking about stocks. So, still a ways to go.
Well let us see our markets - the biotech sector bounced perfectly off its 50d SMA average, as did many of the biotech stocks. The DOW, and SP500 are exhibiting a wedge pattern, which seems to be pointing that the markets may breakout here. The NASDAQ which is primarily being driven by the biotech stocks seems to be forming a right shoulder - check the charts on our home page.
Well what will you trade this week - the tech stocks - the big industrials - check the earnings calendar on our site at: (http://www.trucharts.com/EarningsView.aspx) - additionally, we show the date on the stock charts page as shown below (see red marked box on the right corner):
We are going to close our AEM position and SNDK.
Well what stocks are we going to trade: Here are our picks - be mindful of the earnings dates:
We closed BIDU and TWTR in one account - but here are the charts we like this week:
1. www.trucharts.com/stockview.aspx?TICK=CAT - earnings are on 4/23 - but the chart looks
excellent
2. www.trucharts.com/stockview.aspx?TICK=TWTR - earnings are on 4/28 - we like TWTR
4. www.trucharts.com/stockview.aspx?TICK=USO - ETF - has a good chart
We had picked MYL, TEVA, LLY, ABBV, LO, RAI and M in our last blog and all of these did very well. We still like LLY (watch earnings date).
Check out our best rates for subscribing to our site at - we offer the best feature set on the web: http://www.trucharts.com/truCharts_Services.aspx
Best of luck trading.
Trucharts Team
