The beatings for shorts will continue, it seems, forever. I have been trying to short a strong close, into extreme overbought conditions, and have been trying to buy a weak close, into extreme oversold conditions. Unfortunately, it seems that Mother Market knows my playbook and refuses to give me any kind of extreme conditions to play.
Oh well, the market keeps going up, so I will keep looking to buy pullbacks. Here are three for Monday.
[[ARST]] Nice accumulation on volume. Its obvious that volume on up days is overwhelming volume on down days.Is it time for this one to roll over, and consolidate? Or, does ARST have another bounce ahead?
[[JOSB]] doesn’t have quite the accumulation on volume as ARST. However, this is the first pullback after a huge gap-n-run. [[PFCB]] is in the middle of a really interesting looking pullback. I love it when a stock breaks out, and then tests the breakout pivot. Unless the volume surge was only shorts covering, this one might see some buyers move back in soon.
arst looks fairly strong. Should be interesting to see what PF Chang’s does around the gap fill and support line
Good luck. I’d SHORT all 3 of them.
Well, I have a few plays to short as well.
Looking forward to DEVILDOG MONDAY!
Dude, the borders…some classy shit right there. How did you pull that off?
DP, if I tell you, then I would have to kill you.
Actually, it is so easy, you wouldn’t believe it. Just use snippet.
Barron’s did a story on PFCB this weekend …
Why fight the trend, just go long GE. Just kidding.
Thanks E8. Was it bullish?
Casual Dining Stocks Over-Cooked:
No, in essence the bar has been set too high and they will disappoint going forward. The latest earnings report surprise was a result of cost cutting which will not be sustainable … labor cuts and deferred maintenance. Same store sales (restaurants open for more than a year) at the Bistro unit fell 6.6% while comps at Pei Wei were down 2.2%. If these restaurant stocks are to maintain momentum they must start showing some growth soon (19 P/E) otherwise reality will set in per a research analyst cited in the story.
(AP:CHICAGO) General Electric Co.’s GE Energy division on Monday said that a new 2.5-megawatt wind turbine will be launched in North America in 2010.
More than 100 2.5xl turbines have been installed in seven countries and have compiled more than 1 million operating hours, the company said.
Most of the 2.5xl machines for European projects have been manufactured at GE Energy’s wind turbine facility in Salzbergen, Germany. The 2.5xl units for North America will be assembled in Pensacola, Fla.
Shares of General Electric rose 34 cents, or 2.7 percent, to $13.03 in afternoon trading.