Post feedWhat Should You Be Looking For?
Did you know I love retail stocks right now? I have been touting these for the last two months or more. Many had nice trends that offered great profits. Many have been stopped out recently. Take a look at the S&P Retail Index $RLX or RLX.X. You can see today that we are moving below our prior low. What do lower lows represent? Thats right...panic. I still feel there are good trades to be made in this arena and there still will be going forward. You have a lot of these companies announcing earnings soon, and depending on the reactions, there will still be a few plays heading into the holidays. Keep JWN, KSS, and JCP on your list for the next few weeks, just to name a few. BTW- Add to these as you feel necessary.
What other areas should we be looking for opportunities in? I am still watching financials (XBD.X)...GS, MS, BSC, etc. I am also watching internet stocks (INX.X) such as AKAM, EBAY, GOOG, WBSN and FFIV.
So for all those wondering which groups to watch, here are a few I am involved with. I hope this adds to the watchlist a little. I will be back shortly to offer a few more posts before the day is over. Thursdays are when I get a lot of things off my chest. Be ready!
Thanks Jeff, love to see what you're watching.
Don't lower lows also signal a potential trend change? Check out BBY today confirming the head and shoulders top on strong volume.
Also, BA confirmed a bear flag today.
On a bright note, CFC confirmed a strong bull flag breakout (if you're bullish).
Just some ideas of what I'm trading.
Posted by
Anonymous |
11/02/2006 01:06:00 PM
are we done with SHLD?
Posted by
Anonymous |
11/02/2006 01:50:00 PM
Sara,
Until SHLD makes a lower low, i wouldn't say we're done with it as a bullish play. It's only normal for the stock to have pullbacks after a phenomenal move up. You could use a bounce to add to a position, OR you could think ahead and watch for a potential head and shoulders reversal to set up (like i am).
Posted by
Anonymous |
11/02/2006 02:05:00 PM
I have had a pretty good run on JCP. It has had 2 down days and started today down. Earnings come out next Friday and with the same store stats that came out on Walmart and others today I almost closed the position. Decided it wasn't close enough to earnings to cut and run and POW-BANG-BOOM up 2.4% and closed wihin about $0.20 from where it was 2 days ago. Sure am glad I stuck to my (until the trend breaks down don't close the winners.....
Tom DeGroodt
Posted by
Anonymous |
11/02/2006 03:49:00 PM