We had a good jobs number, we were flat going into the event, and now we’re up 19 points in the S&P. But we haven’t got too much movement this morning over all.
One of the stocks that we looked at in the Momentum Chat Room is DDD. Staples has said they’re going to sell some of the 3D printers in their stores. DDD gaped up to $42.12, faded a bit into the gap and now it’s currently hovering around the lows of $40.27. On the daily chart, a pull-back into $38.50-39 would be healthy for continuation this up move. I do think we could get back to the 52-week high in time.
Another stock we have been talking about since last week is PRLB. I mentioned about the “V” pattern in the stock and it looked like it wanted to make a new high. Today we saw a nice gap and go. The stock caught some bids during the first hour and saw a monster move. It’s currently flagging after pulling in a little bit. But the pattern still looks good. The stock has been a beast since earnings, and hopefully some of you were able to take advantage of it by watching my videos and tweets as I mentioned about this stock a lot.
LNKD saw a big gap down after earnings. It put in a descending triangle and broke below it. If it doesn’t hold $180, the next stop would be $176-177 level from after-hours yesterday.
It’s Friday afternoon, the market could be quiet after the jobs number. We’re heading into summer time, and you could see a lot less volume on Friday’s afternoons. If you have made decent money, enjoy your weekend early. If you have to trade, make sure you have disciplines, wait for good set-ups and hopefully you would be able to book some profits.
Disclosure: Steve Levay is long PRLB, NFLX puts
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply