JPMorgan (JPM) kicked things off in a big way for the financial sector with their better-than-expected earnings, which came out prior to Wednesday's regular-session open. And while I appreciate the argument that the company beat already-lowered expectations, the bottom line is that the stock popped pretty big. I happen to dislike most of the names in the financial sector, but that doesn't mean I'd short them. For the time being, I would simply avoid the banks altogether.
Twitter (TWTR) closed Wednesday's session back near $17.40 and a whisker above its year-to-date volume-weighted average price (VWAP). Day-time scalpers will then want to consider adding the name back to their trade list. Anything above $17.40 to $17.50 should start attracting a bit of interest.
A number of offshore oil drillers turned higher Tuesday, and managed to hold on to the bulk of their gains Wednesday, all while light crude oil ticked a bit lower. While most of the names in this space have a lot of work to do to recapture their 200-day simple moving averages, active traders may want to watch the space for day-time scalping opportunities. That's especially true if this Sunday's meeting in Doha results in a real reduction in oil production. Names in the space that I track are Diamond Offshore (DO), Ensco (ESV), Noble (NE), Rowan Comp (RDC) and Transocean (RIG).
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