U. S. consumers keep on shopping. For August Retail Sales ex-auto rose 0.3% vs. 0.3% consensus.
Gold is falling after release of the retail sales data.
Yesterday afternoon the momo crowd switched from buying gold to buying gold stocks. Early indications are that Smart Money aggressively shorted and gold stocks’ strength.
Oil is experiencing a dead cat bounce.
Our very, very short-term early market indicators are neutral.
This post was just published on ZYX Short Change Alert.
SGMS provides lottery systems. It recently announced acquisition of BYI. SGMS ran up due to buying by ill informed investors on the first announcement. Smart Money sold aggressively into the run up and the stock went down. On August 20th the company announced termination of Hart-Scott-Rodino Anti-Trust regarding the acquisition. This was expected as a routine matter. However, ill informed investors again started running this stock up leading to a short squeeze today.
Consider accumulating up to 50% in small tranches in the zone of $13.30 to $17.50. Mental stop zone over $18.31 to $20.57. … Please click here or the title below to read more.
This post was just published on ZYX Short Change Alert.
JRJC is short from an average price of $11.09. As of this writing, the stock is at $8.30. 20% of full core position is being held. Consider taking profits on a 10% tranche in the zone of $7.31 to $8.30. Consider holding the remaining 10% for a target of $3 to $5.25.
The reason for profit taking here is that this stock is subject to short squeezes. The plan is to add to this position if there is another short squeeze up.