I was going through my scans earlier this morning and came across a bunch of setups I like. Thanks to the consolidation in the markets the entire last week, there are enough of these charts that I like out there that I have to present them in two posts. All these stocks are within 0-5% of their 52 week highs, so they should have room to run if they break out. Its nice to see many gapped up stocks consolidating nicely and holding on to their gap supports. As always, be sure to check for the earnings date for any stock before getting into it. I have commented on the charts itself.
Expect the second part of the list sometime in the evening. Take care and good luck!
2 comments:
yes. no. no. no. yes. yes.
Thanks for the picks.
Do see the market higher for monday?
Macro data is pretty bland, i don't see big movers in Construction spending or ISM. Although i would probably expect Construction spending to beat consensus at -0.5 and ISM to match consensus at close to 54, but i don't see either of those as big movers.
I'm curious to know if investors will worry about Chinese manufacturing slowing for a 3rd straight month as orders from abroad start to slow.
My guess would be that if data comes in line unless some really bad other news, markets post modest gains of %0.5 but if data is bad we might open lower on fears of a slow third quarter and job numbers on friday, then finish the day with a slight loss or no change with late day buyers. Seems to be popular pattern lately.
Hi Bill,
I love hearing from you man! Thanks! Our problem is that we still don't see eye to eye on our market philosophy. Nothing wrong on that though! You try to predict what is going to happen (which is smart) and I try to just go with the flows. I see the markets as bullish right now, that's why I am posting all these long setups. I see the last week as a consolidation week. In the longer term, I do see us going down due to the macro issues but in the shorter term, I do believe there is money to be made by going long. I will be back with more charts that I like for tomorrow. Take care!
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