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Avoid These Stocks at Highs While Earnings Plummet
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I know a favorite trade of mine has been to fade volatility after an unwarranted spike. The spike last night happened after North Korea fired a missile over Japan. I thought, at the very least, that increased volatility would be present until at least tomorrow afternoon. Right at the opening bell, volatility sellers entered the fray and dumped the VIX from near 14 to 11.67.
My initial reaction to the buying was that the VIX fade happened too quickly. The market didn’t even get a chance to fully price in the risk before volatility quickly unwound. I smell Bank of Japan intervention as the USD/JPY pair increased dramatically from the start of trading today. It’s too early to tell if the bounce continues or this was just a temporary blip.
Check out Dave’s Daily Dive video above where I break down the market action today!!!
Each day I, Dave Bartosiak of Zacks.com (Twitter @bartosiastics) dive into the charts, pointing out key price action and levels for you to watch.
But it doesn’t stop there because the highlight of today’s video, which you can see for free by clicking above, is where I uncover five Zacks Rank #5 (Strong Sell) and Zacks Rank #4 (Sell) stocks that are near 52-week highs. These stocks are examples of stocks to avoid as you’re out there looking for breakouts in the wake of today’s price action. The list of stocks I cover today include:
Clarus Corporation designs, manufactures, and markets outdoor engineered equipment and apparel for climbing, mountaineering, backpacking, skiing, and various other outdoor recreation activities in the United States and internationally. The company provides climbing products, such as belay/rappel devices, bouldering products, carabiners and quickdraws, chalks, chalk bags, climbing packs, crampons, crash pads, harnesses, technical and mountaineering ice axes, ice and rock protection devices, bouldering line of technical apparels, and various other climbing accessories; and skiing products comprising technical apparels, airbags, winter packs for skiing, bindings, poles, skis, skins, snow gloves, and snow packs, as well as avalanche safety devices, including transceivers, probes, and shovels.
Sientra, Inc., a medical aesthetics company, develops and sells medical aesthetics products to plastic surgeons in the United States. The company offers silicone gel breast implants for use in breast augmentation and breast reconstruction procedures; and breast tissue expanders.
ServiceMaster Global Holdings, Inc. provides residential and commercial services in the United States. It operates in three segments: Terminix, American Home Shield, and the Franchise Services Group. The Terminix segment offers termite and pest control services, including termite remediation, annual termite inspection and prevention treatments with damage claim guarantees, periodic pest control services, insulation services, mosquito control, crawlspace encapsulation, and wildlife exclusion.
Harris Corporation provides technology-based solutions that solve government and commercial customers mission-critical challenges. The company operates in four segments: Communication Systems, Space and Intelligence Systems, Electronic Systems, and Critical Networks. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, 2-channel vehicular radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
eHealth, Inc. provides private online health insurance services in the United States and China. Its e-commerce platforms organize and present health insurance information in various formats that enable individuals, families, and small businesses to research, analyze, compare, and purchase a range of health insurance plans. The company offers medical health insurance coverage, including preferred provider organization, health maintenance organization and indemnity plans, health savings account eligible health insurance plans, Medicare related health, and small business group insurance plans, as well as ancillary health insurance plans comprising short-term, dental, life, vision, and accident insurance plans.
Now See All Our Private Trades
While today's Zacks Rank #1 new additions are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for all Zacks trades >>
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Avoid These Stocks at Highs While Earnings Plummet
I know a favorite trade of mine has been to fade volatility after an unwarranted spike. The spike last night happened after North Korea fired a missile over Japan. I thought, at the very least, that increased volatility would be present until at least tomorrow afternoon. Right at the opening bell, volatility sellers entered the fray and dumped the VIX from near 14 to 11.67.
My initial reaction to the buying was that the VIX fade happened too quickly. The market didn’t even get a chance to fully price in the risk before volatility quickly unwound. I smell Bank of Japan intervention as the USD/JPY pair increased dramatically from the start of trading today. It’s too early to tell if the bounce continues or this was just a temporary blip.
Check out Dave’s Daily Dive video above where I break down the market action today!!!
Each day I, Dave Bartosiak of Zacks.com (Twitter @bartosiastics) dive into the charts, pointing out key price action and levels for you to watch.
But it doesn’t stop there because the highlight of today’s video, which you can see for free by clicking above, is where I uncover five Zacks Rank #5 (Strong Sell) and Zacks Rank #4 (Sell) stocks that are near 52-week highs. These stocks are examples of stocks to avoid as you’re out there looking for breakouts in the wake of today’s price action. The list of stocks I cover today include:
Clarus Corp (CLAR - Free Report)
Black Diamond, Inc. Price and Consensus
Black Diamond, Inc. Price and Consensus | Black Diamond, Inc. Quote
Clarus Corporation designs, manufactures, and markets outdoor engineered equipment and apparel for climbing, mountaineering, backpacking, skiing, and various other outdoor recreation activities in the United States and internationally. The company provides climbing products, such as belay/rappel devices, bouldering products, carabiners and quickdraws, chalks, chalk bags, climbing packs, crampons, crash pads, harnesses, technical and mountaineering ice axes, ice and rock protection devices, bouldering line of technical apparels, and various other climbing accessories; and skiing products comprising technical apparels, airbags, winter packs for skiing, bindings, poles, skis, skins, snow gloves, and snow packs, as well as avalanche safety devices, including transceivers, probes, and shovels.
Sientra
Sientra, Inc. Price and Consensus
Sientra, Inc. Price and Consensus | Sientra, Inc. Quote
Sientra, Inc., a medical aesthetics company, develops and sells medical aesthetics products to plastic surgeons in the United States. The company offers silicone gel breast implants for use in breast augmentation and breast reconstruction procedures; and breast tissue expanders.
ServiceMaster Global (SERV - Free Report)
ServiceMaster Global Holdings, Inc. Price and Consensus
ServiceMaster Global Holdings, Inc. Price and Consensus | ServiceMaster Global Holdings, Inc. Quote
ServiceMaster Global Holdings, Inc. provides residential and commercial services in the United States. It operates in three segments: Terminix, American Home Shield, and the Franchise Services Group. The Terminix segment offers termite and pest control services, including termite remediation, annual termite inspection and prevention treatments with damage claim guarantees, periodic pest control services, insulation services, mosquito control, crawlspace encapsulation, and wildlife exclusion.
Harris Corp
Harris Corporation Price and Consensus
Harris Corporation Price and Consensus | Harris Corporation Quote
Harris Corporation provides technology-based solutions that solve government and commercial customers mission-critical challenges. The company operates in four segments: Communication Systems, Space and Intelligence Systems, Electronic Systems, and Critical Networks. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, 2-channel vehicular radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
eHealth (EHTH - Free Report)
eHealth, Inc. Price and Consensus
eHealth, Inc. Price and Consensus | eHealth, Inc. Quote
eHealth, Inc. provides private online health insurance services in the United States and China. Its e-commerce platforms organize and present health insurance information in various formats that enable individuals, families, and small businesses to research, analyze, compare, and purchase a range of health insurance plans. The company offers medical health insurance coverage, including preferred provider organization, health maintenance organization and indemnity plans, health savings account eligible health insurance plans, Medicare related health, and small business group insurance plans, as well as ancillary health insurance plans comprising short-term, dental, life, vision, and accident insurance plans.
Now See All Our Private Trades
While today's Zacks Rank #1 new additions are being shared with the public, other trades are hidden from everyone but selected members. Would you like to peek behind the curtain and view them? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum . . . from stocks under $10 to ETF and option moves . . . from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for all Zacks trades >>