SWFT (chart) a trucking company posts earnings and moves higher. A fuel surcharge has more than offset higher fuel costs. Elsewhere, DGX (chart) leads the medical equipment group higher. These two look the most promising out of today's earnings reports.
GM also reports and leads the Dow Industrials higher. The tape action on other notables such as INTC and AAPL are not so good, despite trading higher after hours and in early morning action.
For many, the big news of the day is the rout in gold and silver. Silver down over $2. Remember that I sold a couple of weeks back based on a potential double top in the HUI gold bugs index. Turns out that the XAU, a broader gold stock index is showing a very similar formation today (chart), a potential double top.
These volatile precious metal markets are only for the nimble, and most days I do not count myself in that group. At this point, I am much more likely to look to go short rather than the long. The first real rally after a blow off top is often a low-risk entry point on the short side.
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