Some Super Sunday Shutdown Set Ups
- Posted by UpsideTrader
- on October 6th, 2013
The shutdown should continue tomorrow as we start the trading week. The major market indexes continue to hang around and earnings start hot and heavy this week as we see $AA and some big banks report.
I think we could furlough Congress and replace them with a giant eight ball and do better. Reid and Boehner are starting to look like the guy on “The Walking Dead” who ran down the wrong hallway and is now surrounded by zombies. Next on the House floor, they will rub a pot roast all over their chests to break the monotony. Big fat babies.
Some stocks are still ripping higher. Here are few you can put on you radar.
$FLIR is very interesting here. As you can see below, the weekly chart has broken out of a downtrend that started back in 2008. On July 25, the stock exploded above the weekly downtrend line, it continued the next day. On the weekly, you can see that it came back to retest the uptrend line and then bounced higher again. It’s actually a strong bull flag.
The daily is pretty as well as volume is coming in and the MACD has turned up.
Early last week I alerted you to the TV broadcasters: $LIN, and $NXST as they are starting to look powerful again. $EVC is one that played well for us back in late April. The stock hit a 52 week high back then and has pulled back. It is forming a base now since the pullback. Target 6.75-7 area.
$IM is working a nice bull flag here. It should run if it can break above the 23.75 level with volume.
Have a great football Sunday. If the Broncos had a chart it would look like $TSLA. Lay the points.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »
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