Triggered Today
None
Stops Today
ACHN
New Ideas
None
Removed
CAT
Portfolio Review
WFM -0.4%, FB +2.5%, QIHI flat, MDVN -1.5%, BABA +4.1%, GMCR flat, BIIB flat, EPAM -2.3%, (sold 1/2 for 7.3%profit), AVNR +3.7%, ACAD -0.8%. GIL -0.4%, SPLK flat, NBIX -2.3%, AMBA -4.3%, OVTI +1.7%
Upside’s Commentary
It was a sloppy day on the street today.
The major averages ended the Tuesday session on a mixed note. The Dow Jones Industrial Average (+0.1%) spent the bulk of the day near its flat line while the S&P 500 settled lower by 0.3%.
Stocks were pressured from the start, but the early weakness could be traced back to Europe where the European Commission lowered its GDP forecast for the region.
Also in Europe, a report from Reuters has revealed a potential power struggle at the European Central Bank. According to the report, ECB board members have been unhappy with President Mario Draghi effectively making some policy decisions on his own. Furthermore, the report claimed that up to ten out of 24 ECB members are not in favor of a sovereign QE program. The euro climbed and the dollar weakened on this.
One to watch
I cant help but think that solar stocks are ready to implode based on lower oil prices. Most of the charts look sketchy at best anyway. I also cant help but think that this classic bear flag (wedge) on FSLR is ready to break lower. Lets keep our eyes on this one and I will keep you posted if I get short.
