The S&P 500 is not fairing very well in early afternoon trading, down over 17 points at the time of this post has many traders running for cover. Its times like this I like to map the market and find if any names that are bucking the trend and find out why. Its these names that seem to be able to weather the turmoil better and warrant a look.
Friday April 20 Review
Thursday April 19 Review
U.S. markets gave up less than a percent across the board, however, several stocks managed to hit 52 week highs today. I always find companies that a can buck broader trend are always worth looking further into. Traders alike have fund many nuggets o the 52 week high list.
Top Percent Gainers
IBM reports earnings excluding items of $2.78 a share, topping forecasts. Revenue came in at $24.67 billion, slightly short of expectations.
CAMS short for CurveAheadMarketStrategies.com screens found unusual CALL options buying at several strike levels at mid-day trading in the Consumer Staples Select Sector SPDR Fund (XLP, quote). Option traders are grabbing the May 34 CALL as well as strike level of 37 for Jan 13 and Jan 14 leaps.
Pre-Market Activity for April 16 @8:30 est
Week of April 15, 2012 Economic Calendar.
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