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We've gotten off to a slow start to the trading week, as the market averages have dripped lower into the afternoon hours. There are some key stock moves underway, so let's focus on those.
are this morning's early winners.
is seeing a good pop from two analyst upgrades.
Other Notable Winners
Bank of America
are jumping higher.
are seeing the biggest declines from their earnings results today.
are down the most on this morning's analyst actions.
: Traders are disappointed with earnings from
. It is spreading to other China-based plays like
Other Notable Names Lower
are pulling back.
prices continue to maintain slight gains so far.
are off once again, despite the early pullback in the market averages.
What's the Trade?
Some traders that use trailing stops on names I mentioned earlier may have seen some positions get closed out by now. I view this as a positive sign, and a good way to practice your discipline as a trader. As for any other plays today, I am not seeing anything that presents a good risk/reward feel at this point. The ultrashorts are not doing much, and so there are no entry points to be had there. Since the market trend has clearly been up, pushing up trailing stops in winning positions has been the regular practice traders that have been positioned properly. Patience is a key here, as we need to see the markets present us with some plays (and they always do).
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At the time of publication, the author had no positions in stocks mentioned, although positions may change at any time.
Tom Reese and Paul Rubillo are senior editors of Dividend.com. Visit Dividend.com for more dividend stock ratings, picks, news, and analysis for long-term and income-seeking investors.