Marc Sperling of T3Live.com outlines several stocks he’s watching as earnings season begins.
We’re back to the beginning of earnings this week, and they kicked off with Alcoa (AA). It’s a light calendar, but we do have JPMorgan (JPM) at the end of the week.
I don’t see a lot of A+ trades out there right now. I’m still watching the retailers for some upside action. They’ve been beaten up and are either forming a bear flag or trying to find a new base.
Obviously Netflix (NFLX) had a big squeeze at the end of last week, and it looks like it may be headed toward the 200-day moving average, right around $92.
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Apple (AAPL) pulled back on Friday, and I think it was an opportunity to get involved. Every time it gets around $600, I look to get involved. That’s my level.
The same is true of Priceline (PCLN) right at $665 to $670. There’s an opportunity to be rewarded when we get a bit of an uptick.
There’s been some damage done in the S&P, but as long as we hold the ten-day moving average in the SPY at $134.50, we should be fine. I think we will most likely just meander around the current level for a while at least.
I think Facebook (FB) could trigger above $32 or $32.50 for a move all the way up to about $35. I think at some point this year, it will touch its IPO price, but we’ll have to wait and see what happens.
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First Solar (FSLR) is getting tighter, but needs a move above $16.25 or $16.50 with real volume to finally ignite.
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Deckers Outdoor (DECK) has been one of the worst performers in the market over the last year, but it looks like it could be starting to form a flag. Keep it on your radar.
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Marc Sperling is a trader at T3Live.com.
