Long ideas
- AKNS: High volume trendline break on earnings.
- SQM is providing a good entry.
- GVA: Broke out on earnings.
- OCNF: Coming off the lows with volume.
- XLF: Strength in financials was the story of the day, in advance of the already leaking stress test results. It seems people want to buy the banks whether they need to raise capital or not. Perhaps we sell the news, but for now the orientation is clearly bullish.
It is worth noting that we didn't have broad strength today. IWM and QQQQ are trending higher, but spent most of the day in the red before closing narrowly positive.
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