2 Bullish and 2 Bearish Setups for Today
Here’s a mid-day market update, and a highlight of where the edges are in the
PowerRatings (for Traders) universe of stocks.
As of 11:00 AM on Tuesday, October 17, the major market indexes are higher,
but mixed. The Dow Jones and S&P are up moderately, up 0.15% and 0.31%
respectively. The Nasdaq is up significantly higher, +1.07% for the day. Today’s
market rally comes after 2 straight days of selling pressure, and the gap-up
opening reflects a re-balancing of the edge that grew after sustained selling.
Using the PowerRatings (for Traders) Heat Map, we quickly identified the
broad Energy group as a hot spot for a downside edge. Within this group, we
identified 31 stocks with a PowerRating (for Traders) of 3 or lower.
Interoil
(
IOC |
Quote |
Chart |
News |
PowerRating) has a PowerRating (for Traders) of 3. This stock
has mostly fallen since a gap opening higher.
Parallel Petroleum
(
PLLL |
Quote |
Chart |
News |
PowerRating) has a PowerRating (for Traders) of 3.
This stock has risen intraday, increasing its chances of a downside reversal in
the next 5 days.
Here’s a few high-ranked highlights:
TiVo
(
TIVO |
Quote |
Chart |
News |
PowerRating) has a PowerRating (for Traders) of 10. TIVO was rated
9 yesterday, and gapped higher today after falling steadily for the past few
days. TIVO is currently trading lower than yesterday’s close, increasing its
chances of a reversal rally in the next 5 days.
Golar LNG
(
GLNG |
Quote |
Chart |
News |
PowerRating) has an intraday PowerRating (for Traders) of 10.
GLNG was rated 9 at the open, but is now down for the day. Lower prices led to a
higher PowerRating, indicating that this stock has increased its chances of a
reversal rally in the next 5 days.
For more information on why we trade the way we do,
click here.