Yesterday marked a dramatic continuation of last week’s pullback, with the Dow losing more points in a single session than at any time in its history. After a year plus run with a bull market that demonstrated eerily little volatility, the return to a volatile trading environment appeared to spook some investors.
Volatility will only help news-based traders, however—the lower the broad correlation between all stocks, the higher the differential margin between market averages and equities boosted by individual news events.
Today, markets started the day off down but posted a quick rally that seems to be losing momentum as the day wears on. Volatility is back.
Fabrinet is an advanced electronic manufacturer focused on “advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products.”
Their stock has had a very nice 24 hours on the tail of multiple positive news events. After the close of yesterday’s session, they posted
Needham & Co., a top financial analysis group, actually downgraded their price target for the stock today, from $45 to $40. That price target keeps the stock in “strong buy” territory, however, as it currently trades just under $30/share.
Once again, positive news easily warded off broader negative market momentum: the stock is up around 23% since the original earnings announcement yesterday afternoon.
Diverse Plays, Great Profits: All in a single news day.
Keep checking our Top Performer blog each trading day: we analyze a wide variety of news events to find profitable stock trades for many different trading strategies. Or, if you’d prefer these updates delivered to your inbox, sign up for our free “Movers and Shakers” newsletter.
Our blog homepage will help you get a sense for just how many smart strategies a real-time news analytics platform can unlock. From short selling to momentum trading, from geopolitics to blockchain, NewsQuantified provides a powerful tool for leveraging the strategy you’ve selected with the sort of data typically only accessible to big institutional investors. Regular readers of our blog know that there’s virtually no limit to the number of news events that NQ can translate into real stock trading profits.
If you’re ready to move beyond the blog and learn more about our platform, click the button below to sign up for a free training seminar today. We’ll show you around the platform and suggest some strategies that many of our users are taking advantage of to find consistent news-based trading profits.