We have entered a vortex of excess world monetary liquidity where all equity prices rise in unison. The world central bankers, now with the ECB on board, have decided that printing money and saturating the system is the only way to fix the sovereign debt problems, and help the crippled banks with bad assets on their balance sheets. And there's no point in fighting it; just go with the trend.
There are many stocks that continue to set up in tight, sideways consolidations, then break out to 8% to 15% gains, or more. Those are the stocks to look for and buy, and they're all over the place. Always take partial profits on those initial gains, then hold the rest of your position and raise your stops.
So until the market shows signs of weakness or a change of character, this will remain a market where you'll want to look primarily at the long side. Price action in the major U.S. indices points to more gains ahead, at least for now.
Note: ALWAYS use stops to limit your losses. The best looking setup can reverse quickly and cause substantial losses.
From my previous posts where I displayed the charts, some stocks that continue to set up and point to further possible gains are: ACW, AEM, ALSK, ARAY, AVL, BAK, CERP, CETV, CPO, DXCM, EGHT, HSOL, HUN, GTIV, KSWS, MEA, MTOR, OC, PHM, PRMW, PWAV, RENN, RLD, SBLK, SIGA, SRI, STRI, SVNT, TTMI, TREX, TRX, VE, VVTV, WG, XRA
That's a long list, and those were pulled just from the stocks I've mentioned on this blog. There are many more out there.
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