Wednesday Wrap and a Couple of Stocks

{+++} The bulls woke up today after people started to realize (after the Fed minutes), that rates wont go up for a very long time. The 10 year note didn’t do much and yields around 2.53

For the day the SPX/DOW were +0.90%, and the NDX/NAZ were +0.90%. Bonds lost 7 ticks, Crude rallied $1.50, Gold slipped $3, and the USD was flat. Medium term support remains at the 1869 and 1841 levels. 1900 and 1930 is upside resistance.

I’m recommending two names tonight.

CBS may have put in a double bottom and looks higher. It had a pop today on batter than average volume. This is a swing trade idea. This isn’t a breakout play, so buy it on a pullback if you get one tomorrow, or through the 59.25 level.


YGE- You guys may remember this one form way back. In the last couple of weeks it has tested the lows put in last year and bounced today on good volume. The high 3’s low 4’s may be in store. Solar related names acted well today, as TSL popped 30% today and the TAN etf may be putting in a bottom. I would pay 3-3.25. Hopefully we can get a little dip. Don’t chase.


Here is a closer view.


See you folks in the morning.


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