Market Recep: 16 Jan 2014 – Stocks down on weak earnings – Best Buy (BBY) crushed

By Markus Heitkoetter
 
U.S. markets were lower today as the S&P dropped 2.5 points and the DOW finished down 65 points.

Linked In (LNKD) was one stock that bucked the trend, finishing up +$6.74% at $230.56 following a Power Crossover Method long signal yesterday.
 
Best Buy (BBY) was hammered today on lower guidance following disappointing holiday sales. The stock finished the day -28.59% lower at $26.83 a share.

The Power Crossover Method gave a sell signal on 12/23/13 $39.63 and has remained in a downtrend ever since. If you were able to capture this move this is a scenario where it’s usually prudent to close at least half of the position and not get greedy.

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