The Wrap 2/23/12

{+++} Well, we seem to be getting closer to some market resolution as the S&P is coiling. One way or another it is getting closer to a break out or a break down. All the index look identical.

IBM was a classic breakout today and KEG added to some of yesterday’s gains. Some names that haven’t yet triggered appear to be getting close like CRK & DRIV . Other are coiling bullishly and are creeping.

Crude keeps ripping higher and some names in the oil patch look good.

The fertilizer stocks along with the banks and materials are consolidating.

No names tonight, although I have my eye on several stocks that could be added shortly.

See you tomorrow in the chat room.

Have a great night.



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