Historically speaking, I have never been very good at trading patterns like the one taking shape in AN right now, but it does appear to be consolidating right around where the stock was rejected in November. The volume profile up here is still quite thin as the push in October led to all-time highs. I’m looking to add to my position on a close above 43.
As I have been saying for the better part of a week now, both CTB and FSS are consolidating nicely. I could have waited for a better entry, but now I’m looking to add on closing strength in both names. CTB is close…but I didn’t like how the highs were unable to hold today…I’m being patient and waiting for what I want here. 8.1-8.2 is the region I’m watching on FSS.
The advance in MRH once again was rejected at 24, which also served as resistance in October and November. Above that level and there is a very large void into the low 30′s. Very interesting.
TTM was a big winner today, advancing as much as 7+% intra day before closing up 6.21%. I thought that my add on Monday was a little hasty even though I liked what I was seeing. Above 31 and I have a feeling that this is going to test the all-time high from November 2010.
WGO also looks like a strong candidate to accept additional shares upon a break of 19.
With the exception of AN (which is pretty far off 52 wk highs) all of these names are experiencing fairly strong momentum and are nearing yearly highs. These are the kind of stocks I want to own. Nothing flashy, just stocks that put their head down and methodically move higher.
Today I finished +0.62%, +0.95% for the month…still well over 50% cash.