Stock Climb as Earnings Season Kicks Off

Scott Redler  |

With a heavy short interest in the market, stocks are hardly taking the time to pause before breaking multi-month downtrends. Yesterday was a healthy digestion day, and a sign that bulls remain in control. Shorts are getting squeezed, adding fuel to the rally. Some stocks are starting to make new highs, making tremendous moves off the lows. Technically, the SPY will be knocking on the door of bigger resistance very soon. There is a small point of resistance at 1204-1206, and then the major zone is really 1220-1230.

*Disclosures: Scott Redler is long SNDK, SINA, JPM, XOM. Short SPY.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
QEC:CA Questerre Energy Corporation 0.33 0.03 10.00 32,000
SINA Sina Corporation 60.40 -0.64 -1.05 512,318 Trade
SNDK SanDisk Corp n/a n/a n/a 0 Trade
AAPL Apple Inc. 170.42 -0.38 -0.22 24,626,814 Trade
JPM JP Morgan Chase & Co. 105.55 3.13 3.06 14,716,861 Trade
XOM Exxon Mobil Corporation 77.71 1.44 1.89 14,330,339 Trade

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Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

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