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 0.74 0.02 2.78 8,000
AAPL Apple Inc. 151.02 0.94 0.63 20,966,368 Trade
SINA Sina Corporation 93.94 0.30 0.32 834,452 Trade
JPM JP Morgan Chase 91.20 0.13 0.14 11,653,594 Trade
SNDK SanDisk Corp. n/a n/a n/a 0 Trade
XOM Exxon Mobil Corporation 80.85 0.25 0.31 9,395,630 Trade

Comments

Emerging Growth

Broadway Gold Mining Ltd.

Broadway Gold Mining Ltd is engaged in the exploration of mineral resources. The Company owns a 100% interest in the Madison Gold and Copper Mine located in Southwestern Montana.

Private Markets

Santo Diablo Mezcal

Santo Diablo Mezcal has been created to capitalize on a boom sector of the beverage market currently full of many small unmemorable products by producing one sexy, household, easily recognizable…

GoCoin

Blockchain currencies (e.g. Bitcoin) provide a new disruptive way to transfer value between parties over the internet as opposed to going through banks. GoCoin provides online merchants with a suite…