Another nice close for all the indexes. The stock markets gapped down, across the board, at the open then staged a very bullish reversal to close green or down less than .05%. The SP 600 and Nasdaq were up, and the SP500 and Dow were barely down. Volume was pretty much level with yesterday and breadth was positive. Overall, very positive action.
The markets are acting extremely healthy but I am looking for a pullback to help set up some better charts to launch a longer rally. The positive news is that since I am looking for a pullback that might indicate that Mr. Momentum is here like it was in 2003 and I might not get much of one. If that is the case I will ride my current stocks to some nice gains. However, with that in mind, you should be selling some of your stocks that have made some big moves in a short amount of time. By selling I dont mean dump the entire position. Instead, scale out of 10%-30% depending on the chart and quickness of the move. And this also does not mean positions you have recently bought. Anything that moves 20% in two weeks or less should be held at least 8 weeks. This goes for the stocks that have 50% plus gains over the past 2-12 months.
All trends are up, the bulls are in control, the bears look stupid (like they normally do), and longs are making a lot of money. Now only if I could perfect my poker play to match my stock market play. I dont see that happening anytime soon and for some reason I dont think you are going to see me this year on Fox Sports Net or ESPN. LOL.
New Swing Longs: NTG SEAB MORN DRH BCON OMNI MTLG DMX TXI
New Swing Shorts: NONE
Longs Outperforming Market: ITRN CKCM AAPL DSGX GOL MNG STX DXPE ENER AKAM SWN THOR WBSN MNST RES OPWV LGTY STMP PETS HITK ASVI EAGL VTS ORA BOOM MIDD RAIL KNXA CBG NWRE GES RY CRDN TEVA TESOF BBBB CIB RVSN IHS UEPS MDCC MSCC SLW LDSH FAST CLZR TRAD DB ROK NVDA IKAN FWLT SPWR WBMD VIMC TLEO ESLR JDSU SMDI BTUI EFJI CNXT RDCM ONT FIX ATHR TFSM DDD IINT HOMS GGR DROOY SKIL GIGM RADN AVN CVO VRTX ELN SRA CERS DEPO LCRD NXG NTO SPSX BCF AUY ARXX ANX GSIG PDLI EMKR WIRE NAK TNOX MCF
Shorts Outperforming Market: NONE
Stocks On Radar Screen: HRT FTK IRBT PVH FORG TGE DWCH CHRZ OVTI IRSN DNE
3 comments:
Why is NVAX down two straight days? Although because of the cases throughout turkey and China, I see this stock to get very high if they have a vaccine. Also, what do you think about the conference this friday?
Who cares why NVAX is down? And how can you call an up day (today) down? This stock is consolidating not going down.
I dont care about the conference either. I just want the stock to go up. I expect it to double via its chart formation and the current strength in the bio/genetics sector. If it closes below the breakout day or 50 day moving average I will cut my loss.
Don't micro manage stocks it will is a waste of time. No one knows why something went down. The media just makes a nice story they know the unkowing public will buy. Profressionals dont need reasons to know why a stock is down. They just need to know that it is down.
Great luck
You are asking the wrong guy. I trade stocks. I dont try to predict the future.
I dont know which stocks will be in play tomorrow. I can not predict the future.
I wish you good luck. I like SPWR but the others are weak.
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