As the day progressed Thursday, we started seeing more weakness across broad markets while chip stocks and tech gained a little bit of strength.
So we’ll see today whether or not we get any follow through. Action so far looks totally random and without directional bias.
Keep an eye on energy and financials for today since some are reporting earnings… They’re reporting earnings and those are blue chips, like Haliburton (HAL), which is down 2.3% premarket.
I gave Occidental Petroleum (OXY) as a quick trade Thursday in the Trading Pit, and we did well when it broke out. I like that stock the best in this sector for a swing trade for now as well.
In fact, I never day trade a stock that isn’t good for a swing trade (for a couple to a few days).
I’m getting more bullish to trade gold after it made a new high, so let’s keep an eye on it. The trillion-dollar question is if gold will break down to $2,300, or start rallying again, and it’s on my radar after a higher high.
If I see a gold stock breaking out now, I’m much more likely to enter a trade.
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. Jeffry Has a Bone-Chilling Warning to Share Today…
Jeffry Turnmire has something urgent to show everyone…
There’s a pattern forming in the S&P 500 charts right now that’s eerily familiar…
It’s the same setup we saw just before the 2020 crash when the market took a 35% nosedive.
But here’s the thing…
This time, Jeffry’s analysis suggests we could be looking at a potential 50% drop.
We’re not saying this to scare you. We’re telling you because there’s a massive opportunity here if you know how to play it.
During the last flash crash like this, Jeffry turned a modest $250K into $1.4 MILLION in under a month.
And while we can never promise future returns or against losses, this could be even bigger.
Jeffry’s going live at 1 p.m. ET on Friday, July 19, to reveal everything he’s found.
You’ll see the chart, hear his analysis, and see the strategy he’s planning to use.
