There are tons of good looking setups out there, but there is a problem. And the problem is that most of them have already broken out and look overextended. That doesn't mean that they can't run more but I don't like to chase stocks. So, here are a few setups that have been consolidating nicely or have yet to run up big and look good here. They are all from the basic materials sector, which has been the best performing sector lately. I have commented on the chart itself.
I have a 70% cash position heading into next week and am holding PAL and SNIC. Both the setups look great (otherwise I wouldn't be holding them, would I!) but are close to their earnings date, so I don't have them in this list. I will be out of them before their earnings.
Here is a link to a post discussing if the markets are overbought.
Take care and good luck!
I have a 70% cash position heading into next week and am holding PAL and SNIC. Both the setups look great (otherwise I wouldn't be holding them, would I!) but are close to their earnings date, so I don't have them in this list. I will be out of them before their earnings.
Here is a link to a post discussing if the markets are overbought.
Take care and good luck!
No comments:
Post a Comment