With the season finale of Justified on FX coming up tonight, it is only fitting that two stocks I have been discussing and trading inside 12631 today are BEAM (based in Illinois, but the preferred beverage of Raylan Givens is Jim Beam), and Churchill Downs, based in Kentucky of course.
BEAM is attempting a multi-quarter breakout today, while CHDN is gapping to all-time highs in front of next month’s Kentucky Derby. BEAM looks great if it can hold above $55. But I would not chase Churchill Downs here–Let is consolidate first, and then it will hopefully give us a nice entry before the Derby.
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