I built a new screen this evening in The PPT to feed me stocks and ETFs nearing hybrid oversold. Considering my desire for instant gratification, I honed the screen in on names with strong three day performances following a hybrid oversold reading.
The screener piqued my interest when the top two names on the list (BF-B & CEDC) were from the Beverage – Wineries and Distillers industry. I then noticed the industries low ranking in The PPT universe. I like extremes so I pulled the charts up and like what I see:
I also like the high and tight flag forming in BEAM, especially where it resides within the range from earlier in the year. A retest of the ranges low end would be the perfect x-mas gift to buy with both hands:
The sector has relatively mild seasonality favoring the bulls, and the charts seem to agree with the thesis. I love spending the holiday season purple lipped from enjoying wine with family and friends. The holidays are always a great excuse to buy high end spirits as gifts and for memorable house parties (full Jason Treu). And in support of the above Santa picture, I still hold shares of PPC aka the chicken don.If you enjoy the content at iBankCoin, please follow us on Twitter