It does not look like there will be a dip to negative territory today. The S&P is up strongly in the premarket after a strong ADP report. Some enthusiasm has probably carried over from yesterday's rally as well. ESLR is coming on especially hot right now in premarket. I think you can take some off as the stock moves up although I'm eventually looking for a pop to 10/10.50. I'd look to take BNI off into strength today as very solid gains have been made in that stock. I want to see how NFLX acts today before saying to sell out completely. The chart reminds me of how STJ looked before it really broke out, the stock has shown excellent relative strength over the past two days, and it moves very well in general.
Oil is up slightly but we'll probably see that fade a bit more today. It's been acting terribly lately as I've noted several times on here. A strong dollar, re-allocation of funds out of commodities and into stocks, and the deflation of the market's momentum have all helped bring down that market. It's going to be hard to get it started back up after this dislocation. So while the trend stays down and commodities continue to act this way, you won't see me getting long for more than a daytrade.
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