I am expecting a rally into the close, perhaps 40-50 pts up. Other than riding and selling BEFORE the close, I look for the Monday dumpoff to find March's bottom which I still feel will come around 1940-1960.
By the patterning I see on individual stocks, there's a few I'm tempted to hold long, but will not, looking for beter gains midway Monday.
The long mkt. view is I expect the Senate to pass a tax cut in July, so I expect a nice rally about 6 weeks in advance. Other than that, I see no overarching reason for the index to find upward strength till we get to the October earnings runs.
I'll look to some beatdowns with great prospects yet, for Monday longs. But EPNY's move today should have others like IWOV, SEBL, WEBM, CKCM, ITWO, BEAS going soon... and CORV EMBT MCDT OPNT INRG STOR SCMR WFII are likely to be among that pack of first rebounders too.
By my guess, only JNPR remains as the "most likely to lower estimates" for Monday. But it could happen in April just as easy.
Just don't get faked into confidence at the close if we get a rally here! |
