With the utility sector holding firm through the latest correction, CEG has weathered the downturn superbly. Today the stock broke out to a new 52-week high.
As the stock is a bit extended, and the RSI(2) is 99, it might be prudent to wait for a pullback. Or, consider jumping right in to the momentum bandwagon.
A previous Daily Breakout, MCK, is consolidating its move very smoothly. It is stocks like these two that are steady making new highs and in sectors which are maintaining good relative strength that will likely lead when the market firms up.
Funny. I was going to ask you to find a utility.
Good find.
Yeah, I really like this one for the long side. However, I’m so tired of waiting on those other shoes that I’m not sure if I’m comfortable long much.
VE doesn’t go down.
Yeah but the V in VE sounds too much like areola. Nice chart though.
What do you know about CHD? Another nice chart. Seems like it is a defensive play in consumer products.
Like CLX more.
the fundies of CEG are fucking solid too. I did a lot of reading into them a year back. Great 10-k.
While I haven’t looked at the fundamentals yet, though I plan to, I would disagree that this is currently a safe entry point based on the fundamentals.
There are two rather serious fundamentally based issues that require some intelligent thought prior to any fundamental based purchase.
Additionally, the insiders are selling out at these prices, never a good sign.
jog on
grant
We sold a company to CEG a couple of years back, and the ex-owner still works for them –happily– on a contract basis. They weathered the early 2000’s overcapacity problem nicely and bought some assets at fire sale prices. They also have an ex-Goldman guy running their non-regulated side, and he knows how to make money.
I like NWN here as well.