Come on, don’t tell me you were surprised that Washington managed a last-gasp agreement to avoid a calamatous default!
As I mentioned last time, the markets wanted to go up and for now they’ve got their wish. Now we can get on with earnings season.
Plenty of stocks looking good right now, but do be aware of when their earnings dates are, and don’t open new positions within a couple of days of the announcement.
Earnings Calendar:
AAPL
Breaking resistance at $500, a reverse head and shoulders and persistently positive OVI. Earnings on 28th October with plenty of news and rumour before then. Just make sure you can watch it if you decide to play.
BBY
Nice breakout, needs to consolidate. Earnings not until 19th November.
CHK
A strong natural gas play, just breaking out and with earnings not until 6th November. Also look at KWK below.
F
Currently in a head and shoulders pattern but the OVI suggests this will fail and the stock should rise. Earnings next week.
FB
Poised for more upside. Earnings on 30th October.
GLD and GDX
Gold is vulnerable to the stock markets rising. Bear flag on GLD.
GOOG
I’m mixed on this GOOG. Earnings is today and yesterday’s bar suggests upside. However, my concern is with the rule of big numbers and how long GOOG can keep up its growth. It’s been in a range since May. Let earnings play out and we’ll take a view next week!
JPM
OVI not playing along with the bounce. There are better opportunities out there. Look for the OVI to corroborate with the chart. It’s not doing that here.
KWK
A natural gas punt. I love the chart pattern. The OVI is modest at +0.10, but it’s been positive for a while and earnings is on 5th November. This company holds a lot of debt, but is rich with liquid assets. Almost certainly undervalued but will also be volatile.
PSX
Looking to emerge from its 4-month range. See X below to see how a breakout can be lucrative. Earnigns on 30th October.
SLB
Great looking chart – would be good to have a consolidation if you missed the breakout on Monday. Earnings tomorrow so you’ll need to be patient, but it looks good for SLB.
SLV
As with Gold, Silver is at the mercy of a bullish stock market.
X
See how this broke out of a multi-month range … And don’t say I didn’t tell you because I did duing our webinars!
The seminar DVD/LiveStream is proving immensely popular this year. There’s still spaces in the live room, so if you haven’t booked yet, here’s the link for both.
All the best
Gu
