The S&P 500 is coming up on resistance after a big bounce in October off 2015 lows. I’m looking for a small pullback this week in hopes to buy a few longer term positions at a discount.
GRPN interests me the most to start this week after Amazon quietly announced shutting down it’s Local services. With earnings on Tuesday, if shares get wiped out on a miss, I’ll start watching for an oversold condition, if they beat, well the Amazon news should then provide the fire to launch a prolonged uptrend which I’ll look to buy into. Let’s see how earnings go Tuesday.
HACK looks good above $26 for a move to $30’s again. I like this cybersecurity play anytime the chart looks good as headlines continue to spike the ETF. This sector isn’t going away anytime soon and depending on the headline, can pay out very quickly.
GLUU has earnings this week too and while the consensus is -$.02 the whispers say +$.04 and I’m leaning toward the later myself. Even if GLUU does miss, I suspect outlook will be very good with the Katy Perry game so watch for it to rise after the call Thursday. It’s possible I’ll scale a little before the call, then add after the call if they miss and look to profit form the runup in quarter 4.
I’m 13 out of my last 14 picks for about +$30,000 in profit. Let’s keep the hot streak going into the end of the year.
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