Zillow Said to Be Bidding for Trulia

Both stocks are exploding on the story just hitting now about Zillow making a move to acquire competitor Trulia in the online real estate listing space.

At the stage in the bull market we are seeing logical takeover candidates (think: OPEN) start to actually get bought out.

With this in mind, keep an eye on the increasingly popular almond and soy milk maker WWAV to get a buyout, too. On the weekly chart, below, note the potent uptrend, takeover or not.

What is your favorite takeover idea?

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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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My only trade of late has been a long EMES play inside 12631, discussed on my videos recently.

I took partial profits this morning into strength, and will let the rest ride for now.

Overall, the action is grinding with some narrow pockets of action, typical of summer, despite the S&P basically pushing all-time highs on a daily basis.

With underlying divergences, I am still in bump-and-run mode with trades, not swinging heavy or for very long.

After the huge jump in the Russell 2000 last Friday, it has been a steady grind higher.

On the updated 30-minute small cap ETF chart, below, note that $115.20 is still the upside level for bulls to clear next, while $114 remains key for buyers to defend as support. Until that range resolve the choppy action continues.

There marquee stocks are mixed again, with FB UA shooting higher while NFLX remains weak.

What are you trading out there?

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The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday. 

…plenty of marquee, growth issues which corrected sharply this spring have not fully-healed the technical damage sustained. 

Still, Friday’s rally is a good reminder that the risk to the cautious approach is that we see a melt-up to perhaps inflict maximum pain on bearish or underinvested market players. Should that occur, leaders like FB GOOG are likely to prove profitable for bulls. Compared to other prominent issues, such as NFLX PCLN TSLA Z, I view Facebook and Google’s charts as more promising to lead any further strength in the market. Note that Facebook’s earnings are this Wednesday.

Please click here to continue reading

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

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