What to Buy: ERY
The buy pick is made every evening at Midnight before the next day begins. The pick is a single day trade of a stock or
ETF. The Oxen Group provides analysis, entry/exit points, resistance levels, and a rating for the pick. Picks are only
single day trades. Longer trades are below.
|
|
|
|
Updated Thursday Morning: The Oxen Group
approached today's buy pick differently. A pattern we
are noticing is that economic data is moving this
market no matter what other fundamentals and
technicals may be out there. Thursday's market will be
ruled by unemployment figures coming out from the
Labor Department. The estimated number was 9.6%.
We did beat that, but everyone right out the bat is
much more concerned with the nonfarm payrolls,
which showed that 467,000 jobs were cut when only
375,000 were expected. That is a huge miss and is
farmore telling tan the 9.5% unemployment rate.
Therefore, ERY is jumping up out of the gate. Buy in
right at the start of the market like we had suggested
last night. This thing will move up, trade sideways, and
then continue to trend up. Additionally, the initial
jobless claims were higher than expected, also adding
fuel to the fire. ERY is neutral on RSI and the middle
of its stochastic ranges, which means that with the
positive news it will add a lot of sellers, about the same
as buyers, which is why you want to get in as earlier. If
it moves very high, we should start to see heavy
resistance as the stock moves towards 25 points. The
oil market is going to continue struggle throughout the
day on this news, which severely threatens the oil
markets.
Entry: Recommend buying within first 15 minutes.
Exit: We recommend exiting after a 3-5% increase.
Stop Loss: We recommend a 3% stop loss on all buy in
prices
Upper Resistance: 25.00
Oxen Rating*: 5
|
|
|
 |
|
|
|
|
|
Hey! Like these FREE tips. Help out
The Oxen Group and tip us back so
we can keep making picks.
Thank you!
|
|
|
|
|
|
|
|
|
|
|
Confused about any terminology used in the
Oxen Picks, check out our growing dictionary of
commonly used terms.
|
|
|
|
|
|
