Here Are Some Ideas For This Afternoon
The e-minis are trading at the 50% retracement of the intraday range, near
Friday’s close, and may pull back here.
Williams-Sonoma has been testing its bottom (three times) just above
Thursday’s low. Don’t overstay your welcome here, as the stock broke below its
200-day moving average last week. This would strictly be an intraday bounce
play.
DELL was downgraded and the stock is now trading below its 200-day
moving average. Consider selling rallies to 26.60-26.70 (the .618 retracement
and near the 200-day moving average) this afternoon.
Apache
(
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PowerRating) is pulling back from its highs. This stock has had a
fairly orderly advance this morning, and may rally from here.
Have a good afternoon,
Brice