After the powerful move higher that we saw to close out last week, many charts are suddenly looking like that 6’2, 145 lbs. sophomore in high school, who was only 5’6″ a year ago. In many leading stocks, these fresh new legs higher need to be filled out on the chart. The easy answer is to assume that we drop a few hundred Dow points from here. However, as I noted last evening, do not dismiss the idea of a correction in time, where we simply move sideways for a few days before marching higher.
Below, you will find some examples of stocks who have seen a recent “growth spurt,” and now need to fill out their lanky frames.
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Nice analogy…check out NANO for a more beefed up “varsity squad” candidate.
All your “skinny ” picks are doing great today but all of them are with low volume. Will you trust this movement without volume?