Some Set Ups For the Summer Doldrums

DOG 300x200 Some Set Ups For the Summer Doldrums

Maybe the market isn’t so “doldrummy” after all, as we are seeing a nice summer rally to new highs. No complaints here. It’s been a great tape with biotech on fire and  the financials making highs. The housing stocks have rebounded too. $GOOG had some ad sales issues which put a wet blanket on the Nazzy, but bull markets have very short memories when it comes to these things. $MSFT screwed the pooch, but they’re just a big bank that just happens make software and horrifyingly bad products anyway. I don’t think $AAPL will see a good number, and I bet you a buck it goes lower into earnings.

So play it long until the trend changes. Have a great weekend. Here are some summer set ups.

$AEGR toyed with what could be a major breakout all of last week, but didn’t get the job done. Maybe this week. Watch the 80.50 area with volume. I think this one will eventually tag 100 bucks.

aegr2 Some Set Ups For the Summer Doldrums

$MM – I’ve been talking about this one from the 8.80 level, but still have a target to the 200 day moving average around 10.50, then perhaps higher, as it has the potential to really move into that gap.

mm Some Set Ups For the Summer Doldrums

$CLDX After breaking out in early July, this one is consolidating. Watch for another move over the 21.75 area for higher prices.

cldx4 Some Set Ups For the Summer Doldrums

$FORM is working a nice little bull flag, watch for a breakout with volume around the 7.70 level

form Some Set Ups For the Summer Doldrums

$CLVS – Since the massive breakaway gap in early June this one has been in a very constructive coil. You can get long over 80.50

clvs1 Some Set Ups For the Summer Doldrums

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Joe Donohue

Joe is a full time trader with 25 years experience. He is a senior contributor and investor in Stocktwits and has been seen on CNN Money and quoted in Marketwatch, Forbes, Reuters, NY Times and Wall Street Journal.