{+++} We’ll see if any stuffing comes out of the market turkey this week. We tagged more highs last week, but Bernanke slipped in a Friday after the close zinger to the Wall Street Journal in an effort to maybe “soften” the market about curtailing bond purchases. You know, give the market the weekend to think about it. Anyway, it might not be a big deal at all.
We’ll see how the market reacts, if it does trade lower on this news, I think it will be just be another buying opportunity. Everyone knows the Fed will eventually slow and stop bond purchases all together, the question has always just been when.
I’m reluctant to go out on a limb with new names tonight, I’d rather wait to see if there is any negative reaction to this Bernanke story, but I do have a few stocks for us to watch this week.
By the way, a warm Happy Mothers Day to all the mom subscribers. Hope you had a great day and thanks for keeping the guys in line on the chat room. I need all the help I can get. 🙂
Here you go.
ICE – This one has a beautiful chart and is flagging bullishly on both the daily and weekly time frames. Obviously it will need a good market for higher prices. You can buy the 174.30
EVER– This one has been basing beautifully since it held and bounced off support at the 200 day moving average (yellow line). Buy the 17.30 area.
UTHR-I really like this pattern as well and it is working a bullish flag. Buy the 68.25 area.
Have a great night. See you in the chat room in the morning.