There s Going to Continue to Be Some Major Rotation Taking Place My primary goal is to stay flexible and not just sit there.
Feb 23, 2021 | 11:12 AM EST
We have some very dramatic action this morning as the first real bout of panic selling in a very long time hit at the open. Many traders saw weeks and months of profits disappearing, and they raced to close out some positions to stem the bleeding. There were no immediate signs of dip buyers, but they finally showed up and have the S&P 500 above the level at which it opened.
Even with the sizable relief bounce after the opening panic, there is a substantial amount of red on the screens. Breath is running at a bit less than 4 to 1 negative, and that list of 10% moves that I mention so often is down to just a dozen or so names.
Careful, the Rally in XPO Logistics Has Stalled Let s check out the charts. Stocks quotes in this article: XPO
The Lightning Round segment of
Mad Money is very popular with viewers. This is when lucky callers get to quiz host Jim Cramer about stocks that they are interested in. One caller Monday evening asked about XPO Logistics (XPO) . You want to buy this one. The last quarter was terrific, responded Cramer.
Let s check out the charts.
In the daily bar chart of XPO, below, we can see that the shares have been trading sideways for nearly three months now. The shares are trading below the cresting 50-day moving average line. The slower-to-react 200-day moving average line shows a positive slope and intersects down around $95.