Many Stocks See Dramatic Reversals from Morning Lows
While the global market rout is clearly the big story of the day, what many investors will not hear about this evening is the amazing trading opportunities in many names that bounced sharply off morning lows.
Below are some examples:
Google (NASDAQ: GOOGL) morning low $593.31. Current price $625.78 (+$32.47)
Tesla (NASDAQ: TSLA) morning low $195. Current price $223.10 (+$28.10)
PowerShares QQQ Trust (NASDAQ: QQQ) morning low $84.74. Current price $99.52 (+$14.78)
Netflix (NASDAQ: NFLX) morning low $85.50. Current price $100.16 (+$14.66)
Apple (NASDAQ: AAPL) morning low $92. Current price $104.19 (+$12.19)
Facebook (NASDAQ: FB) morning low $72. Current price $82.64 (+$10.64)
Mobileye (NYSE: MBLY) morning low $41.80. Current price $51 (+$9.20)
SPDR S&P 500 (NYSE: SPY) morning lows $182.95. Current price $191.59 (+$8.64)
From Traders today:
- "Made $3 on GE (NYSE: GE) off morning low" - trader HS
- "caught SolarCity (Nasdaq: SCTY) at $38.50. sold at $45" - trader TR
- "Bought Amazon (Nasdaq: AMZN) at $460... out at $480" - trader WL
- "Made $15 off Gilead Sciences Inc. (Nasdaq: GILD) reversal" - trader PT
- "Fitbit (NYSE: FIT) $33.40... holding" - Trader JP
Went all in triple margin with weekly $QQQ's at 88. Sold it all at $102 #simple https://t.co/lrmXb8yRa7
— Jason Freeman (@ChartLearning) August 24, 2015