Buyers edged back into financials and energy stocks on the first trading day of the week. Retail stocks, which had been increasingly overbought over the past several days, saw profit-taking
with stocks like^TGT^ and ^JWM^ both pulling back for a second consecutive trading day.
Among the day’s biggest gainers among small and medium cap stocks was gain of more than 3% in ^NFLX^, which closed higher above the 200-day moving average for a third day in a
Here are 7 Stocks You Need to Know for Tuesday.
Pulling back by more than 4% ahead of its scheduled quarterly earnings announcement was ^NCTY^. The stock’s pullback comes after a two-day rally that took shares of NCTY near
overbought territory above the 200-day moving average.
Down more than 1% on Monday were shares of ^GOOG^ (below).
Shares of Google have closed lower for a second day in a row heading into Tuesday’s trading and have been largely rangebound since a major pullback at the beginning of the month.
Have you seen The Machine Lite? The Machine Lite is the first financial software that lets traders and investors build quantified portfolios of backtested mean reversion
strategies for stocks and ETFs. If you own an IRA or manage investments in excess of $100K, then you owe it to yourself to attend the next free, online presentation on The Machine Lite by
TradingMarkets founder and CEO, Larry Connors. To learn more and to save your spot, click here.
Up by well over 4% on the first day of the trading week was ^FDX^. FDX has been trading consistently above the 200-day moving average since late September.
Pulling back on Cyber Monday were shares of ^BBY^ (below).
Down for two days in a row, Monday marked the stock’s first close below its 5-day moving average in more than a week.
Also lower for two back-to-back sessions was ^EBAY^ (below).
Shares of eBay pulled back by nearly 3% on Monday. Despite the selling, the stock remains largely in the range it has traded in since early November.
Energy stocks were among those most sought after by buyers on Monday, with shares of both ^HAL^ and ^BHI^ advancing on the day. Shares of HAL gained more
than 3%, while BHI closed higher by more than 2%.
With 16 backtested strategies for trading bull markets, bear markets and sideways markets, Short Term Trading Strategies That Work by Larry Connors and Cesar Alvarez may be the most
important trading book you read this year. Click here to order your copy of Short Term Trading Strategies That Work today.
David Penn is Editor in Chief of TradingMarkets.com