Capital One Financial Corp. (NYSE: COF) closes at exact $60.00. I consider it as a corrective move after Friday’s breakout of 52w new high. Note that today’s volume is lower than Friday’s. All MAs, MACD and RSI shows strength. I might initiate a position tomorrow if it does not close below $60.00.
Groupon, Inc. (NASDAQ: GRPN) The picture is not good. it closes below 20,50-day averages. Negative MACD crossover, -ve CMF. Maybe the appreciative move when I shared this stock as a buy candidate was just a corrective move. The stock seems to fail to reverse its trend. I have sold my shares.
InterDigital, Inc. (NASDAQ: IDCC) closed back above 50-day moving average today. The A/D line is still at high level. I don’t see much reason to sell the stock technically, except if you argue earning play is risky. Note that earnings announcement is on this Wednesday (10/24).
S&P 500 (NYSE: SPY) The picture on Standard & Poors 500 are not pretty as well. Closing below 20day MA and very close to 50MA. The index has failed to make higher high for 2 times since October. Volume on red days are generally higher than green ones. Bearish signal from RSI, MACD and CMF. I am planning to add some weight on my bear play on my portfolio besides volatility index (UVXY).
NYSE:TZA is bear 3x ETF on Russell 2000 index. 3X allows you to allot fewer proportion of your money invested to get the hedge or risk-reduction characteristics to your portfolio.
Disclosure: I am long IDCC and UVXY
