Market Wrap-Up for Oct.13 (INTC, JPM, NEM, ABX, CSX, GLD, more)

By Staff,

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With earnings season now underway, the markets could be setting up for some more near-term melt-up action. We saw a taste of that today, but we did see the markets pull off the highs in the last hour.

As I have been mentioning, we are sitting in very over-bought territory. Back in my trading days, the strategy was simple. Buy high, sell higher, but in the process keep moving up the trailing stops on my longs, all the while keeping my sell-stop orders tight in the event of a quick reversal lower. We are certainly seeing more dividend stocks that are set to flash the green signal for us to add them to our recommended list, but it is simply a question of patience as we look for further opportunities. Our current list of 48 recommended names continues to grow nicely, as do the returns for investors in those names.

CSX Corp( CSX ) was a big earnings winner today, after the railroad operator easily beat Q3 estimates. J.P. Morgan( JPM ) and Intel( INTC ) closed lower despite some early analyst accolades on both companies' earnings reports. The big story once again today was gold, with gold prices up over $23 an ounce in today's action. Technically things still look fine for gold, but it is not a trade without risk for those of you that are putting aggressive capital to work. Whether you are buying the Gold ETF ( GLD ), or mining plays like Barrick Gold( ABX ) and Newmont Mining( NEM ) , the risk of quick reversals is there. If you are not a nimble trader, I would take caution to being overly exposed to the red-hot commodity space. It is inundated with traders that are getting in and out on a daily basis.

Be sure to catch up with our latest watchlist updates from this past weekend, as well as the latest "Learn to Be Rich" articles as I'd like everyone to gain the money knowledge they need to navigate through other parts of their financial life outside of investing. And of course, check our our currently "Recommended" names on our industry-leading Best Dividend Stocks list.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: ABX , CSX , GLD , INTC , JPM , NEM

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