Most kids from Greenwich,CT.
U.S. stocks rebounded Thursday as oil prices climbed, but a selloff in health-care stocks and a mixed bag of earnings reports kept gains in check.
The Dow Jones rose 125.18, or 0.8%, to 16069.64. The S&P added 10.41, or 0.6%, to 1893.36, while the Nasdaq gained 38.51, or 0.9%.
FB had a very good day today after their very bullish report last night, but AMZN is getting decapitated in the aftermarket right now. Down close to 100 points or 13%. Give and take. One good one, one bad one, that’s how this market has been.
I added AAPL for an oversold play today. The stock has been hammered over 30% from the highs. On the daily chart below you can see that it held the August flash low and bounced, albeit a small bounce.
On the weekly chart below you will also see that it held its 200 day moving average.
Its too soon to say if we’ll catch lightening in a bottle on this one, but I have a stop just underneath that 200 day moving average in case I’m wrong.
In other market news, biotech and pharma are in a slow death fall it seems. Today IBB broke support and so did the XPH which is the pharma etdf.
Its still a weird and challenging market right now and I’m trying just to take it on a stock by stock basis.
See you in the morning.
Joe