The Shakedown 7/29/18


Good news is bad news?

After a decent week, the market met major weakness Friday on strong GDP numbers which assures the Fed will raise rates very soon. We saw the majority of the weakness in the momentum and Nasdaq stocks and notably the FANG stocks which weighed down the whole market. There was a ton of strength in financials, healthcare and transportation stocks. Definitely raised a lot of cash Friday but was able to hold onto many of our earnings season winners which held up staggeringly.

A ton of earnings slated up for next week as well. 

Click the above pic for updated Q3 Earnings Watchlist

Click the above pic for detailed list of this week's earnings


After some fantastic earnings, ECHO began to go for the breakout Friday. A combination of a Summer Friday + market weakness held it down at the end of the week. Look for this to show that big volume again in that $33-33.25 area. Stops $31 for now, we'll see as the week transpires. 

Trigger: $33-33.25 area

Stop: $30.89

Target: $40+

Hope to see you in the chat Monday!

Leave a comment