Before I get into the six stocks and talk about them let's quickly discuss what's happening right now. The big news, of course, is the Alibaba IPO, here is what I do with IPO's. Unless you're lucky enough to get some of the initial stock the best thing to do is just to watch for a while and see how everything pans out. Just remember that perception is a strong driver of stock trends.
The other big news is the fact that Larry Ellison is stepping down from Oracle. Mr. Allison's exit from Oracle brings about a complete change in Silicon Valley. We no longer have Steve Jobs at Apple, Bill Gates at Microsoft. We're going to see some interesting transitions in all of these companies.
As far as Oracle Corporation (NYSE:ORCL) is concerned. The Trade Triangles are now all red indicating a lower trend and prices for Oracle.
The six stocks I'm going to be talking about in today's video will show that three are trending to the upside, and three are trending to the downside. Some of these stocks are setting up for the perfect weekend trade.
Here are the six stocks that I'm covering today:
3 of these stocks are going to represent great weekend trades. In case you are not familiar with "The 52-week new highs on Friday Rule" we have the rules below for you.
Here are the three rules you need to trade "The 52-week new highs on Friday Rule"
Rule #1: On a new 52-week high when the market closes at or close to its high on a Friday, buy and go home long for the weekend.
Rule #2: Exit long position on the opening the following Tuesday.
Rule #3: if the market opens lower on Monday exit this position immediately.
There you have it. These are the only three rules that you need to trade "The 52-week new highs on Friday rule" successfully.
Every success with MarketClub,