US Stocks Headed for Lower Open

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I shared a BAC trade about 2 wks back, the trade has resulted in beautiful returns. As of y’day close, the trade is up+20%. Not bad for less than 2 wks holding period and without any adjustment needs.

So here we are, Market up and then down again. Up and then down again. I don’t think there is going to be a strong movement in either direction till Fed Meeting on Sept 18th (FOMC announcement when future of “rates” will be decided by Uncle Ben).

Amongst stocks that are sky rocketing are APLX (applix being acquired by Canada’s Cognos), FSTR (which is also approaching a 52wks high, so watch out if there is break-out on strong volumes). AAPL, Apple is still up as there is an announcement pending. Apple has a history of riding high leading to the announcement date and then drifting lower unless the announcement is dramatic. Do watch-out if it crosses $149-$150 on strong volumes and is able to sustain break-out. If not, quite a debatable though, but a bearish play for short-term.

Amongst the star losers, it’s Costco my friend, COST, as the August sales fall short. And of course, banks will head lower too.

A lot of going on, trade profitably, OP






One response to “US Stocks Headed for Lower Open”

  1. […] AAPL has been nicely co-operating with the fall (Cool $10 fall in 2 days, whatever you call this $100 credit and $200 price reduction, it’s messy). Looking forward to reap benefits today. Check out my update on BAC, the trade is up +25%. And FXI bearish play is also about to give some dividends in the market fall today. With the fall in markets IV will rise thus increasing the value on long(s). […]

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