US equities open in minor chop mode, as the market is just s/t ‘tired’. A day of considerable chop… if leaning a little weak could be expected. WTIC is churning the $96s.
sp’60min
VIX’60min
Summary
*I’ve EXITED SLB from $36.01… which is a key resistance threshold.
Further, closed out OXY from $62.67, as the stock is s/t over-stretched.
I will look to buy back both AFTER the Fed/GDP.
Re: equities… chop chop… but we have broken a new cycle high of 4008.
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notable stock: SLB
Earnings were broadly good, and the stock is justly higher.
Yesterday’s reversal candle played out.
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notable stock: TWTR
Tier’1 garbage results, as the company is still losing money.
Fair value… $4.20 ?
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notable weakness: META
Mostly whacked lower in sympathy with SNAP.
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notable miner: FCX
Freeport seeing early gains erode.
I dropped a few days ago from $29.11.