It seems like we are still trying to get a hold of which direction the market wants to go in. While the overwhelming feeling seems to be heading down, this week should go a long way in letting us know. With companies like Bank of America, Intel, and JP Morgan set to report this week, the market activity will be interesting to to watch.
With expectations already low, it is a guessing game to see how traders will take in all the news. So sit back, relax, and let the stock market dictate how these stock charts to pop…
VALE – This stock has not treated me well in the past. With a decent steady channel going, I will give this stock one more chance with a bounce at the support.
AKS – The recent pattern trend has seemed to work out perfectly, but now we need to get a new one. Looking for this stock to bounce either way. Obviously a move higher would be welcomed, with strong volume of course.
Bank of America
BAC – There is pretty much no doubt in my mind that Bank of America is a great buy long-term; however, the up coming week will be shaky at best. There will be much talk about the company all week leading up to earnings report on mid-day Friday. Are you risky enough to hold it during this time? We have already seen this stock get rejected by the 200 day moving average, and on the verge of cracking below 50 SMA.
My game plan right now is to let the stock pullback some, and then swoop in and buy up shares for another ride up.
NFLX – As the market looks to make a little correction during the 3rd quarter, it might be time for Netflix to head higher again. For the last month or so it has been riding the 50 day SMA. Looking for it to separate itself one way or another. Netflix announces partnership with Sony.
EMC – Looks like many people are taking their acquisition of NetApp as good news, with a reiteration of an outperform rating. We are a looking at a brief channel right now, and it looks like we have bounced off the support.
JDS Uniphase Corporation
American International Group, Inc.
AIG – Just to lighten the mood.
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