The FED raised rates yesterday, the DOW continues to flirt with media grabbing 20k level, energy companies took advantage of the recent rip in oil to announce $2-billion dollars in secondary and the year is coming to an end.
The indices were down across the board, the negative action took place after the FED meeting. Gold (-1.47%) and the gold miners (GDX -5.47%, GDXJ -6.40%) were the biggest losers, and they are following through this morning.
Looking at the big picture, the SP500 is still trading well above its recent 2.7-year breakout as you can see in the chart below. In other words, if your timeframe is longer than a few days then things are fine. Pullbacks will happen, but as long as we stay above, 2,080 things will be okay.
With that being said; below are the stocks on my watchlist today, I have an interest in these stocks on the long side if and only if they go through yesterday’s high.
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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