Monday Market Wrap-One Trigger, Two New Names

Triggered Stocks


New Potential Picks

SPLK (at 64)


NBIX- Buy 17.30-17.80 zone


Portfolio Review

Today ACHN and ACAD  just barley triggered at 11.90.  FB was down 1/2%.  QIHU dropped 3.9%.  MDVN rose .75%.  BABA rose 2%.  GMCR dropped 1.3%.  BIIB dropped 1/2%.  EPAM ripped almost 6%.  AVNR was flat.

Upside’s Commentary

Following the S&P 500’s largest weekly gain since January 2013, the market was mixed today, as energy shares declined along with the price of oil. The Dow was up 13, or 0.1%, to 16,818. The Nasdaq was up 2, or 0.1%, to 4,486, while the S&P 500 fell three points, or 0.2%, closing at 1,962. $80 seems to be the level that foks are watching. As we broke that level the market sold off,  as crude recovered above that number, so did the market.

Economic news due out tomorrow includes September’s Durable Goods Report, which economists expect to show a 0.2% increase, as well as Consumer Confidence, which analysts see coming in at 87.3 versus last month’s 86.0 reading.

The Technicals

Support remains at 1956 and 1929, with resistance at 1973 and 2019.

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