Wednesday Market Wrap -Two New Names 5/8/13

{+++} From the broken record department, the S&P made more all time highs today. I’d like a another little pullback so we can find some things “on the cheap”, so I found what could be a couple of pullback stocks that may look for higher prices.

Here you go, and please check the P&L nightly for any adjustments.

FIRE – reported recently, the # wasn’t bad at all (they blamed the sequester), it sold off, then ripped higher and it is now at the 50 day moving average (red line) and the downtrend line (white line). Buy the 55 level


EWY– This trade should work if Kim Jong doesn’t get trigger happy.  This is the ETF for South Korea. Today India broke out, the DAX broke out and many other countries are on the epinephrine injection that is QE. It is also at some resistance at the downtrend line and 200 day moving average. A move above those levels should help move it higher. Buy the 59 level.


See you in the morning.

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