Struggling To Stay Positive
With a little less than two hours to go, stocks are struggling to say in positive territory. It seems that few investors want to make big bets ahead of the FOMC meeting.
But if the market's purpose is to confound the majority of traders, I think a strong rally this week would catch the most people off guard.
Bond yields are slightly higher, witht the 10-year nearing 5.25%, the level at which most anticipate the fed funds rate will end this week. Oil is also trading higher, which is helping put a bid under the energy complex. Volume is modest.
Here are some stock showing up on my high volume screens:
- BAMM - breaking to new highs
- VOL - ditto
- CLDN - briefly hits new highs before reversing
- EZPW - adds to Friday's breakout
- BBW - breaks down further from Friday's plunge
- ZMH - gaps lower on new subpoena
- RBAK - analyst downgrade hits stock hard
- BG - cuts EPS forecast
- VCI - also lowers earnings forecast
net short RBAK