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Whereas the underlying strength of yesterday’s session was questionable, today was are seeing many more breakouts and follow-through across the board. We know that the mega cap technology firms like $MSFT may have masked so underperformance in small cap stocks yesterday, but that alone was an insufficient reason to short. Instead, the issue was whether the buyers would build on the initial old tech momentum, by looking to other areas of the market. While it is true that volume is light today, I expect volume that phenomenon to continue for the duration of the week, with the long July 4th weekend approaching. Thus, it would not surprise me to see the bears step aside and let the bulls run for a bit, before attempting to reassert themselves likely next week.
Some of the top ideas from my screens today: $CAM $CFX $GMCR $MGM $RRGB $SFLY $TDC $WPI
Chess – if you had time,just wanted your thoughts on AA…did the break below 16 put it in no mans land? Thanks
Has a nice look to it. $15.60 is a big hurdle to clear.
What do you think of NR on 15 min chart
Strong. Needs to clear $9