Evening Tape: More Gold, More Red, and Some New Trades Made

by Ryan Mallory

The Chart of the Day...

From SocialTrade

Trades Made Today:

1.Sold WYNN at $114.90 for a 6.9% gain

2. Added GRPN long at $4.88

3. Shorted INVN at $12.14

4. Re-added WYNN long at $115.42

5. Added TTM long at $25.50

Quick Glance at the Market Heat Map and Industries

Notables:

• Despite a respectable bounce off of the day's lows the entire market was weak today. 
• Utilities was a safety play - don't read anything into that industry. 
• Technology was by far the worst sector. 

SharePlanner Compass:

Oversold and appearing to look ready for a more extensive bounce in the markets. . 

And of course...the RIDICULOUS!

I have this nagging feeling that there is going to be an unending supply of material from the clown show that has now become our Presidential Election Process. In this case, you can see why there may be justification for an IQ test in order to vote. This mentality and the prevalence across our country is really hurting it from finding the real leadership it needs.