Stock Market Flips to Bullish News as Gold Nears 1600

BOX Box Inc Stock Chart 9.4.19

BOX Box Inc Stock Chart 9.4.19

The stock market continues it's daily change from bearish to bullish headlines. Today the news from Hong Kong see the pre-market futures surging.

So what do we do? How do we place trades with conviction? How to do we allocate capital with a high trade expectation?

We follow the tape.

If the stock market is giving us a bullish open, which stocks were strong recently when the tape was weak? Which stocks closed strong and showed bullish order flow?

There's never a reason to guess or feel insecure about making money. You just need a simple way to track the order flow. Relative strength is an easy way that anybody can know exactly what to do.

Here's my scan for the day. Stocks with bullish order flow, closed above the open by 2% (on a day the market was weak). Plus they all meet my minimum criteria for volume and average true range. (Which strikes that balance between opportunity and liquidity)

One final thing to notice in the scan. "relative volume." This means the stock performed well and traded it's normal (or above average volume) which means the institutions were active.

Think about how powerful that is to know. Institutions were actively buying on a weak day.

Have a profitable day.

Pete

Hong Kong stocks close nearly 4% higher following reports that extradition bill could be formally withdrawn

Stocks in Hong Kong soared nearly 4% on Wednesday afternoon trade following reports that a controversial extradition bill is set to be withdrawn.

By the market close, the Hang Seng index had jumped 3.9% to 26,523.23, paring some gains after surging as high as more than 4% earlier.

Hong Kong leader Carrie Lam will reportedly announce the withdrawal of a contentious extradition bill that has sparked months of mass protests and dampened investor sentiment. Its full withdrawal is one of five demands that protesters have been fighting for.

cnbc.com/hong-kong-extradiction-bill

Gold Seen Cracking $1,600 as Fed Goes for Cut, Cut, Cut, Cut

Gold will surge above $1,600 an ounce as the Federal Reserve embarks on a quartet of interest rate cuts to combat slowing U.S. growth and the fallout from the trade war with China, according to BNP Paribas SA, which flagged prospects for a significant rise in prices in the coming months.

Bullion will benefit as the Fed opts for four, 25 basis point cuts between this month and June 2020, Harry Tchilinguirian, head of commodity research, said in a note. As nominal yields fall with each reduction, “real rates will move and stay in negative territory, raising the appeal of holding gold,” he said.

bloomberg.com/gold-1600

Box Stock Spikes After Activist Starboard Value Takes a Stake

Activist investment firm Starboard Value revealed in a filing late Tuesday that it has taken a stake in tech company Box, sending its shares 7.7% higher in trading after the market closed.

marketwatch.com/box-stock-spikes

Puma Biotech stock surges on FDA cancer drug designation

Puma Biotechnology Inc. PBYI, -2.98% shares rallied in the extended session Tuesday after the drug developer said the Food and Drug Administration granted its cancer treatment a special designation. Puma shares rose 7.4% after hours…

marketwatch.com/puma-biotech-stock-surges

Pete Renzulli
 

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