Philip Morris International Inc. (PM: 51.82 -0.02%) met our profit target today, but admittedly, the target was set too low.
The rest of the picks from yesterday are still valid.
We have one new pick for tomorrow, and that is The Blackstone Group L.P. (BX: 14.50 -1.02%) .
The exit target is $17.11
First, let me direct you to an excellent new piece by Mr. Jeff Pietch, The Gambler’s Fallacy, where he details the statistical improbabilities of 14 successive up days. Plus, there are a few more goodies in his article.
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For the most part, breadth expanded while price rose. There are some very mild divergences developing.
Mild divergences are [...]
Both previous CwH picks broke out and have met their target prices.
The screen has been yielding no picks for a couple weeks, but tonight’s picks have made up for that. I say that because visually, these charts are hot. Visual appeal may not translate into guaranteed profits, but if you have looked at lots of [...]
The market continues to climb, and breadth continues to expand.
Tonight we’ll examine the very bottom pane, which is a simple measure of new 52 week highs and lows.
This measure is calculated from a broad universe of stocks. The only stocks that are excluded from this universe are OTCBB. There is no price, volume, or liquidity [...]
3 of 4 measures are overbought, with 1 measure giving a new buy signal.
The raw advancers/decliners measure (2nd pane from the bottom) is giving a buy signal. The universe that generated the advancers and decliners are stocks trading over 100K volume and over $1,000,000 in liquidity on average over the last 50 days [...]
I had some minor elective surgery last week and have spent the last four days recovering. With nothing to do except stay in bed, I had time to work on a new project. This project was to build some indicators that use only market breadth to operate- no price action- to time or make trades [...]
(EAT: 19.80 +0.71%) made a delicious looking break out today, after being selected last Thursday by the Cup-with-Handle screen. The original post follows the chart below which shows the breakout.
(TCBI: 18.70 +0.32%) is not making the screen anymore, but it still looks ripe for a breakout.
Brinker International, Inc. (EAT: 19.80 +0.71%)
The target price for this [...]
