Don’t get to long here. SPX has a high probability of pulling back today and early next week and would use that as a good entry. We got the bounce we projected and now looking for a test of yesterday lows to set up indicators. Will unload last position of SPXU and look for long positions in those displaying relative strength such as MA, V, AMZN.
Tag Archives: V
Europe has been bailed out by the EU this weekend and subsequently all is good in the world again. We have and will continue to build long positions on pulbacks as the longer term up trend is underway. Longer term our list will consist of $MA, $V, $AAPL, $GLD, $IYT, $IYR and Shorting $TLT. As of friday we took a small position in TLT as we anticipated a small counter trend correction in the market before heading to higher levels. Now with the news unleashed over the weekend this position will be abandoned and will look for buying opportunities in the above mentioned names.
With the economy on edge and questions about the power of the consumer, we look no further than V and MA to see where we may be heading? Indications are pointing that these two will power ahead and any pullback is a buying opportunity in the weeks ahead. If these stocks are flashing good value here than we could see the economy begin to pick up steam. Where else would you look to benefit from the consumer roaring back? We like both V and MA and will be buying on pullbacks the next couple of weeks. Be sure to put these on your radar.