Friday, May 25, 2012

Weekend Thread

S&P Futures Daily Chart

S&P futures rallied right up to the 20day WMA during the night session and then chopped lower the rest of the day. The bulls are looking a little tired here. The Euro futures COT report released today is showing even more extreme positions than the chart I posted Wednesday... so that's getting pretty interesting. I'm wondering how much equity upside we will get if the Euro rallies next week (and potentially the rest of the summer).

I remember hearing the bobble heads recommending UUP a few times today... and we all know what great traders they are... lol.

Have a great weekend everybody!

Friday Afternoon


NSM
Nationstar Mortgage Holdings Inc. has been featured in IBD more than once in the past couple of weeks.  It had its IPO in March so you are looking at all of the trading.   They do not yet pay a dividend and maybe they won't ever pay one.  The stock is rated highly by IBD and the chart looks good to me.  They have options but not nearly enough liquidity for me to be interested.

While I would not recommend buying anything in advance of a 3-day weekend with all of the headline risk from Europe this one could be at a good buy point on Tuesday.

Fiday Morning

Gator's Chart of the Day: ROSG
Rosetta Genomics has been a rocket on insane volume over the last seven trading sessions.  Our own rookietrader caught much of the move.  (Well done!) 

There was news on May 16th that Novitas will be using ROSG's miRview mets2 assay for all Medicare beneficiaries and that could be what has been driving the stock.  After market today there was more news and it may very well drive the stock lower.

"PHILADELPHIA, PA and REHOVOT, ISRAEL--(Marketwire -05/24/12)- Rosetta Genomics Ltd. ("Rosetta") (ROSG), a leading developer and provider of microRNA-based molecular diagnostics, today announced it has entered into definitive agreements with investors to purchase an aggregate of 570,755 ordinary shares at a price of $11.50 per share in a registered direct offering. The offering is expected to close on or about May 31, 2012, subject to the satisfaction of customary closing conditions."

If you want to grab this tiger's tail be careful.  The moves have been fast and furious.