It should come as no surprise to anyone that when Goldman Sachs upgrades a high momentum stock, it’s going to move in the direction they desire.
Since the beginning of time the games have been played that enables the large institutions to take a stand a move a stock at will. Somebody made a fortune on Netflix today.
We can make a fortune on the next move. Once I’m able to identify a good topping signal in the stock, probably around $500, then we can look for a nice juicy swing trade. Until then, let the technicals tell us what to do rather than impose our will on the market.
The stock market had a nice solid up day while the bonds retreated back downward. Gold and Oil remained in neutral today, but larger moves are ahead.
As we move through the week the volume should get lighter and lighter and many stocks should churn around.
The phony jobs number is expected on Thursday this week due to the short week. We may see some initial back and forth action following the release at 8:30, but all in all don’t expect much.
Details found in the video below: