Chris Lau
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Chris Lau in Value Stocks,

Tonight’s Moves for Tomorrow, Tuesday August 8, 2017

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Tonight’s Moves for Tomorrow, Tuesday August 8, 2017

It's a big day for Valeant tomorrow. It reports before the market opens.

·       Teva Pharmaceuticals (TEVA) failed to hold the critical $20 a share level. The stock sold off again for the third straight day after cutting dividends and forecasting low revenue. Generic drug competition and price erosion is accelerating.

·       AMD is holding it upward trend line. Threadripper, Ryzen, EPYC, Polaris and Vega are all lifting revenue and profit margins. Accumulate.

·       Turns out Chesapeake Energy – CHK – has yet to bottom. Avoid.

·       Snap Inc – SNAP – Wait for it…could have bottomed. ER is coming later this week. Stock sold off so much that even a slight beat will give bulls hope.

·       VALE is on an uptrend. Accumulate.

·       FCX is also in an uptrend. Hold.

·       Symantec – SYMC – is a value trap. Avoid.

·       Will Nvidia (NVDA) – explode higher after ER later this week? Probably.

·       Mylan – MYL – is in freefall despite holding market share for its EpiPen. Blame TEVA.

·       TEVA is making Gilead Sciences GILD management look good. Maybe GILD should buy TEVA.

·       Alibaba – BABA – is holding up. As readers posted in comments, BUY BABA on the positive momentum, not sell.

·       GoPro – GPRO is still $10. Watch the stock.

·       Viacom – VIA is deep value. Twitter – TWTR – is a dead cat bounce. Semi technology stocks are still correcting. See OCLR, FNSR.