More Benign Consolidation
My Stock of the Day is Zumiez (ZUMZ)
This stock has been doing well this year, making new highs in early April. Since then it has pulled back and is now testing support at its 50-day average. This is often a low risk entry point. The stock is also reaching oversold territory.
I think the fundies are still on fire at ZUMZ, despite the negative sentiment for the retail industry. I want to start a position here and ride the growth.
Overall, the market is doing fine today. Given the news out of China and the selloff in Asia, this could have easily been a big down day. I'm sure the bears were salivating at the news before the open this morning. But they have to be extremely frustrated with the inability of this market to stay down.
The 10-year yield is stable at 4.67%, and oil is falling further, now down over a buck to $61.80.
Other stocks making notable, high-volume moves include:
- Rising Stocks
NVO, ASD, RS, FARO, SGP, VIVO, DLLR, SIMO, CELG, BNI
- Falling Stocks
IMN, SMSI, ETFC, IGT, LOGI, BGG, BLK, OXPS, VRGY, FHN