More Nominal Highs

Dow: +32.40…
Nasdaq: -1.16… S&P: -1.69…

The S&P and Nazzy tacked on some more new highs today, but overall it was more of consolidation day for the market.

Portfolio name Charter Comm (CHTR) had a nice pop of 23 points or 7.3% as the rumor that Verizon may buy them gained some steam.

I added two new stocks today, SRPT and BLUE

SRPT has pulled back in a very orderly fashion over the last 10 trading days and is forming a bullish falling wedge. This is a favorite pattern of mine and I will usually get long this pattern 85% of the time.  When stocks that have had big moves higher pull back o lighter volume like this one,  it can sometimes mean it’s just getting rid of weak longs and getting ready for a resumption higher.  It’s also holding its 200-day moving average, so if it was ever going to get a bounce it would be now.  Let’s hope support holds and it bounces.

BLUE was added today also.  I’m hoping it can get through some lateral resistance around the 70 level with volume, if it can, I have targets of 75-80.


Have a great evening.


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