The Oxen Report - Slow Data Day Means Earnings Will Direct

Happy Wednesday!

Tuesday’s Buy Pick of the Day was Ultrashort Proshares Real Estate (SRS). The ETF was a big winner for us, as we were able to take away 3% on the day from the pick. We liked SRS because we did not see anything extremely compelling coming out of earnings that would really direct the market. The data that came out, however, was much worse than expected with a decline in housing starts (one of the first weak data points housing has seen in a long time) and some deflationary data. This reversed early morning futures, and we got into SRS at a sweet price of 9.48 before exiting at 9.76 for a 3% gain. The ETF rallied the whole day and finished up for the day at 9.73. We did not have a short sale pick.

Today, I have two new picks for you that should be some great plays that are under the radar in the earnings world. 

Buy Pick of the Day:

Short Sale Pick of the Day:

Good Luck and Good Investing!

David Ristau