Breakdown or Signs of Life
I am seeing a bunch of bearish setups taking place in the market, but I am also seeing signs of life. The market needs some follow through in order to keep stocks from falling off a clip here, names like Google Inc. (GOOG: 566.40 +0.15%) & Amazon.com, Inc. (AMZN: 132.76 +1.08%) are on the verge of breakdowns:
But, then you see signs of life in the home builders and question if the two day rally has legs. Shouts out to OA for his housing bottom call. FYI: For those that don’t know OA is back, and he is hot as a pistol, everyone go check him out and drop him a line.
Toll Brothers, Inc. (TOL: 20.32 +0.20%) looks good on strength:
And, if the market continues it’s rebound, I like the semis on this pullback. QUALCOMM, Inc. (QCOM: 40.43 +3.93%) offers a great entry point for a longer term hold, and I still like STEC, Inc. (STEC: 12.33 +3.01%) here for a swing– stop below 50 day:
Also, don’t forget the casinos, the can catch fire here. Las Vegas Sands Corp. (LVS: 19.28 -2.82%) looks good to go:
And, the dollar still has an inverse relationship with the overall market:
Looks ready to pullback, and on that pullback, the market goes higher.
didn’t you sell out LVS today?
sure did, but I may be right back in.
Not looking good for GOOG short term, looks to be headed to 500, at which point I would buy more. Tech trading crappy.
I will load up at 500 myself.
BGP with some momo today.
Must be nice when you can go on CNBC and say something to make your own stock spike 40%!
The home builder group looks great but I don’t like those gaps. Most have room in their triangles to fill those and I think I’d rather wait for that to happen.
Please forward this Peyton
http://content.usatoday.com/communities/thehuddle/post/2010/02/photos-how-brett-favres-ankle-and-hamstring-turned-purple-after-vikings-loss-to-saints/1
ouch! is that real?