Leaders Are Going To Lead
We had big earnings reports from AMZN, GOOGL, WDC, all three acted well in the after hours and are higher in the pre-market. Microsoft, Starbucks, and Intel are not fairing as well. Amazon and Google are extended in the short-term and putting new money behind them today is probably not a great idea, both stocks especially Amazon are in the “it’s never going down camp”.
I have quite a few names on my list today, a lot of small biotechs, they have been acting well.
I have an interest in these stocks on the long side if and only if they go through yesterday’s high plus .10-cents. This single criterion will narrow down the list and get you involved only in the stocks that are on the move. The primary drivers of stocks in the short term is momentum and mean reversion. Stocks that have a significant move in the short term tend to rest and move sideways for a few days and then resume higher more often than not. These momentum bursts typically last 1-10 days.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at email@example.com or 646-480-7463.
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