kaltbaum email

One would never know market was edging higher by watching the leading growth names as they, for the most part, just sit. I am in hopes that some start to get moving soon. The recent move up has been a sea of oils, commodities, economically sensitive and industrials at the ECB got the juices flowing…lifting the euro…dropping the dollar and enabling these down and out areas to move. If I find leadership in some of these areas, I will be glad to play them.

 

Market is short term overbought with small caps and transports lagging…but the charts in other indices look fine and have potential to move higher out of their constructive look….but again, we need growth leadership. By the way, new highs actually went down during the week while market edged higher.

 

I saw a little breakout in DTV but again…on only 1.2x average. Will also be watching ESRX off the gap up. Also, liking the action in WDC and STX…but needs a rest. Otherwise, here is the updated growth leaders list. We will not be shy if they start to move out.

 

 

 

 

 

AMGN-Sitting tight in high handle…but it is extended.

AAPL- Sitting as tight as can be. Look at this week’s daily bars. Amazing for a $620 stock.

AMZN- Sitting in a tight handle…needs to leap $240. Not thrilled by late week action.

ALXN- Pulling back in towards pivot point and may probe in there.

BIIB- Pulls nice and tight towards 50 day.

EQIX- Sitting tight and just needs to move out.

EXPE- Affected by PCLN and will watch for where it holds support on this pull-in.

EBAY- Tried to break out of flag twice and failed twice.

HD- Still sitting above 50 day…reports Tuesday.

MLNX- Strongest name. Looks like RIMM from Dec 03.

PETM- Sitting on 50 day…reports this week.

PRGO- Tightening up as 50 day catches up.

ROST- Still a bit worried about late stage but ok as long as it holds 50 day.

SHW- Moves out of short base again. Who would think paint would lead?

SWI- Having a little trouble after moving out of a possible powerful high tight flag.

TJX- Continues to drift higher…but again, group has had good move already.

UA-Needs pullback.

V-Holds 21 day on pullback.

 

New names added last week.

 

 

 

 

CRUS-Edges above flag-like pattern.

 

N-Showed a little distribution this week…needs to pull in.

 

WFM-Sitting just above 50 day…just needs move out of range.