Thursday Wrap: Shifting Momentum

The StockTwits trending bar this afternoon displayed an interesting dichotomy: We saw recent high fliers with clipped wings plummeting or breaking key support levels ($TWTR $FEYE), while we saw old guard stocks trending with impressive gains/breakouts ($T $BAC $MS $NKE).

Apparently, at least for today, new tech is getting kicked to the curb in favor of old standbys in phoning, banking, even casual dining ($CMG, though few would consider it to be conservatively valued).

Traders looking to spot a bottom in Twitter and Fireeye were left wanting as the stocks finished at their lows for the day:

both of $TWTR $FEYE still tried to finding their support point. wait jump in until the support level shows up:)

— liya Wong (@humble747) Mar. 20 at 01:48 PM

 

Though one trader shared a hopeful idea for a least a pause to the downside action in $TWTR:

$TWTR don't expect too much deviation from 50 going into opex tomorrow the real move is Monday

— Learnstocks Community (@Learnstocks101) Mar. 20 at 02:05 PM

 

Meanwhile, some traders weren’t so optimistic on $FEYE:

$FEYE continues to see intense selling. It's late for a short, but chart shows it could fall a lot further.

— BullTrade Corp (@BullTradeDotCom) Mar. 20 at 02:03 PM

 

On the positive side of the ledger, the growing consensus is that the ‘Yellen Fed’ will be good for banks and early indications of the Federal Reserve ‘stress tests’ is doing nothing to temper the enthusiam so far.

$BAC great risk/reward in basically all financials. Multiple Positive catalyst going forward and higher rates as much as guaranteed.18.50

— chris (@christophers) Mar. 20 at 02:17 PM


The $XLF is up 1.5%. $MS $WFC $JPM $C $BAC all up around 3%. Those Fed stress tests must have been really hard. #sarcasm

— Paul La Monica (@lamonicabuzz) Mar. 20 at 01:46 PM

 

Americans still like to eat, as Chipotle Mexican Grill made new all-time highs today. $CMG share price is no doubt being driven by impressive earnings performance:

Beautiful earnings chart for Chipotle. Expected EPS growth of 24% in both 2014 and 2015. $CMG http://stks.co/r07bP

— Tracey Ryniec (@TraceyRyniec) Mar. 20 at 09:58 AM

 

And of course, this all plays nicely into Nike’s hands (er, feet) as Americans gorging on Chipotle burritos need their exercise. Judging by this afternoon’s earnings report, we are buying more and more Nike sneakers to help keep us on the track. In early after-hours trade, $NKE is holding above new all-time highs.

Very strong growth from $NKE. 13% revenue and 12% future orders.

— Greg Feirman (@TopGunFP) Mar. 20 at 02:21 PM


$NKE earnings: Just doing it!

— Gabriel Cohen Henriquez (@gabbs) Mar. 20 at 02:17 PM

 

~ Sean McLaughlin (@chicagosean)


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