China devalued their currency – the world markets roiled. US market gave up all the gains from Monday. All 3 indexes were down 1%+. eStockPicks algorithm generated 5 alerts.
- 2 Wins: GM, XPO
- 3 Break Even: SYY, BHP, GPS
This type of market – open lower and then drift sideways – provides limited trading opportunities. Trade carefully and trade small.
Below are some charts with entry signal highlighted at the time of the stock pick:
Stock Pick: GM Type: Short Price: $31.09
Stock Pick: XPO Type: Short Price: $38.14
Break Even Trade:
Stock Pick: SYY Type: Long Price: $37.96