The market is slightly down around mid-day today. It is still in the digesting mode. The home builders are down today because Toll Brother (TOL) lowers its guidance for next year. Other building material companies are down as well because of TOL.
BOOM is not longer booming. It was down around $3 by mid-day. It was up more than $1 this morning pre-market. Then it decided to change its trend. This is very negative for the stock. It ran up too fast too soon. Wait until the dust settles, then we can come back and look at it again later.
AQNT is very similar to BOOM in trading pattern. Even thought it beat estimate by 3 cents. It was not good enough because of the big run from the beginning of the year from $7 to $21 right now. It has too much good expectation built into the stock.
All stocks are self correcting right now. This is a good thing because we do need some kind of self-correct mechanism for the market in order to march higher.
ISRG was down this morning, it went back up by mid-day. It still has very strong momentum to the upside. I still maintain my position as it will hit $100 by Thanksgiving. If it announces split, it will go up even further up.
Today's Movers:
Positive Momentum Stocks (to be considered):
ABIX, GENZ, ARX
Negative Momentum Stocks:
TOL, NTES, BOOM
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