Sellers Take Profits After Market’s Strong Start as Salesforce, Yahoo! Gain: 7 Stocks You Need to Know for Friday
Stocks followed through to the upside ahead of trading on Friday, although the stock market sold off modestly heading into the close. Among the session’s biggest gainers were stocks like ^HOT^, which gained 3% on the day, and ^MAS^. Shares of Masco finished up well over 2%, closing higher for a third day in a row and now overbought above the 200-day moving average.
Remember, Larry Connors’ upcoming presentation on The Machine ETF Trader is Tuesday at 1 p.m. If you are looking for ideas about how to add ETF trading to your overall swing trading strategy, then click here to find out how The Machine ETF Trader may be just what you’ve been looking for.
Here are 7 Stocks You Need to Know for Friday.
Up more than 2% and closing above its 5- and 200-day moving averages are shares of ^YHOO^. Shares of YHOO had closed lower for seven out of the past eight trading days.
A downgrade by ^GS^ sent shares of ^KLAC^ tumbling ahead of trading on Friday.
The stock dropped by well over 3%, closing at its most oversold levels in a month.
The fourth and final part of Larry Connors’ series on ETF trading will be published Friday morning. If you’ve missed any of the first three parts of the most complete explanation of how Larry finds the best ETFs to trade every day, then be sure to click the links at the end of today’s column to access the first three parts of the series.
Profit-taking in shares of ^DELL^ (below) sent the stock lower by more than 2% in trading on Thursday.
Shares of Dell had pulled back for four days in a row before bounding higher on Wednesday.
Nearing overbought territory below the 200-day moving average is ^VALE^ (below).
Shares of VALE have closed higher for three days in a row, and have been trading beneath their 200-day moving average since the beginning of the month.
^CRM^ beat analyst expectations in terms of earnings, income and their forecast after the market closed on Thursday. The stock was up nearly 6% immediately after the announcement.
Shares of ^EXPE^ closed higher by more than 2% on Thursday to end the session in overbought territory above the 200-day moving average. EXPE has closed higher for three days in a row.
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Part 1 of Larry Connors series on ETF Trading that I mentioned above is here. For Part 2, click here. Part 3 is available here.
David Penn is Editor in Chief of TradingMarkets.com