Thursday, September 2, 2010

Late Night Thoughts

Although I would never endorse trading ahead of a big employment report, one always needs to be on the lookout for opportunities. The markets strong September, of course only a few days old, gives the possibility that a new rally is emerging. The groups that are now participating create a broad breadth which is indeed bullish. Sectors such as utilities (WTR, SO, WEC, WR), and even real estate (BAM, PSA, SPG, VNO) give a sense of credibility to the emerging rally.

Lets keep an eye on a couple new IPOs besides JKS, AVGO, STRI, OPEN. Add to this group FTNT and LOGM.

Stocks with specific buy points: NTES 42.24 cup with handle, APD 77.94 double bottom with handle, VNO 86.67 cup with handle, DRI 45.14 double bottom, GPC 44.62 cup with handle.

Other spots where stocks can be purchased: ALTR thru 27, TKC 15.75, MT 30, QCOM thru 40.75, NBL 70, SM thru 41, SU thru 33, WLT thru 80.25, AAPL thru 255, INFY thru 60.25, NUE thru 39.25, DRQ thru 55.60. MNRO 40 but careful its illiquid.

Short LULU 36.

Good luck.

The author has positions in FCX, AVGO, AMT, AKAM, NZ

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