The SP500 is approaching the 1600 level, with almost 5% off its high, and fear spiking.
As the market enters correction levels, some individual names are getting attractive again.
bac - looking to double up near 38SMA.
gs - looking to re-enter an initial position near 154. Then add if it stabilizes or goes towards 150.
ibm - re-entered an initial position. I would like it to stabilize here, and add, but it may approach 199-200.
ebay - there has been additional weakness in ebay, that would suggest a new support is being discovered. The weekly had the 20sma, then 38sma act as support. But these now have breached. The 50sma may act as support, but given the developments in payments, via Apple's potential entry into the space, it may take an additional hit. Looking for the mid 40s.