May 22
Today’s reversal and sell-off triggered exit signals in 3 of our longs:- Our two remaining utilities, Ameren ($AEE), and Sempra ($SRE), as well as Corrections Corp ($CXW). We’ll exit all three at Thursday’s open. All three are seen as high-yielding defensive names, so it seems ironic they are our first victims of market weakness. In …
May 18
Something different this week. Rather than choose a select few winners and losers with commentary I’m just going to show the charts for every single position, without commentary, because I’m not sure I really need to add anything to them. The vast majority are in strong uptrends, rising on increased volume, and you can see …
May 11
We had several changes to our portfolio this week, exiting longs in LinkedIn ($LNKD), Aruba Networks ($ARUN), Dominion ($D), Wisconsin ($WEC), and entering new longs in Michael Kors ($KORS), Broadcom ($BRCM), Celgene ($CELG), Pier 1 Imports ($PIR), Goldman ($GS), McCormick ($MKC). This weekend we’ll also post details on 3 additional long entries for Monday’s open …
May 09
Two of our four utility longs have given us an exit signal tonight; Dominion Resources and Wisconsin Energy. We’ll be out at Friday’s open. As of Thursday’s close we were making 10.1% (incl div) on $D, and 8.6% on $WEC. Earlier this week we stated in our update Relatively Weak, Absolutely Strong that while there was no doubt …
May 07
I’ve been talking a lot about utilities on the stream today so I thought I’d put it altogether in a post. We know that sectors such as healthcare, consumer staples, and utilities have been strong gainers this year and have led the market rally so far. This has led a lot of people to talk …
Jon Boorman, CMT, is a market technician, analyst, and trader with 25 years experience in global equity, forex, and futures markets. He employs trend following and momentum strategies to generate actionable trade ideas. More....
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