Friday Market Wrap

Triggered Stocks




Portfolio Update

FB + 0.45%,  QIHU +0.25%,  MDVN + 7.45%, GMCR n/c,  BIIB -0.8%,  BABA +2.6%,  AVNR -1.44%,  ACAD +0.8%,  SPLK +3.1%,  NBIX -0.54%,  AMBA +2.46%,  OVTI -1.2%,  BTU + 7.3%. RGLS + 12.31%

Upsidetrader’s Commentary

The major averages ended Friday on a quiet note with the S&P 500 (unch) locking in a 0.7% gain for the week. Meanwhile, the tech-heavy Nasdaq (-0.1%) spent the duration of the day in negative territory to end the week unchanged.

This morning, the latest Nonfarm Payrolls report revealed the addition of 214,000 jobs in October. The reading came in below consensus estimates, but the overall tone of the report was fine.

The dollar weakened slightly today so crude actually caught a bounce for a change.

Bottom line, my focus remains on Relative Strength and Relative Weakness for opportunities.  Stocks and sectors that hold up better on dips and lead the way higher on rallies are buying opportunities.  Groups and tickers that sink lower against broader rallies are shorting opportunities.

The Technicals

Short term support remains at 2019  and SPX 2000, with resistance at 2070 and 2085 .

Have a great weekend and I’ll see you guys for the Sunday night video.




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