The market is digesting the gains bulls achieved earlier in the week with a consolidation today. There isn’t a doubt in my mind that we’re overbought here. But we simply haven’t seen any high volume distribution. It’s just one rotation after another from extended stocks to the ones setup below.
I’m putting money in several names, looking to catch the next rotation. I’ll be honest. I don’t know where it will be. My two primary rotational plays are LOCK and JRCC. Lock is up over 10 percent this month but hasn’t pumped alongside the overall market this week. JRCC is coal, so who the hell knows if it will catch a solid bid?
HAIN keeps marching ahead and I’m giving it space, but may take another scale soon. I can’t resist booking gains. The downside is I wind up with little fragments of runners in my books. Current runner fragments include FB ANGI GS and RGR. I’m considering adding to FB and RGR, but not ANGI up here.
My long term plays are AAPL AWK CREE and SAM.
My dog today is JOEZ jeans. It needs to shape up soon or I’m cutting.
Cash is dwindling, down to 38 percent.If you enjoy the content at iBankCoin, please follow us on Twitter