kaltbaum email
We are somewhat held hostage until Friday. Friday will be a pre Labor Day, light volume news-fest as Bernanke speaks from Jackson Hole at 10 am. The problem: The Fed has gone from more money printing to holding off to more money printing in the last week…and now the market is expecting another announcement from this misfit of debt and leverage. On top of that, the ECB head Draghi speaks at midday.
AMGN-No volume as it moves out of short range.
AAPL- Will gap up tomorrow on lawsuit win.
AMZN- Continues to move higher.
ALXN- Held 50 day and on the move.
BIIB- Held 50 day and moving off of it.
CRUS-Very strong and extended.
EQIX- Starting to move out but volume?
EXPE- Holding 50 day this past week.
EBAY- Moving into new highs after sitting tight after gap.
HD- Broke out off of earnings and setting up again.
KORS- So far so good after strong gap.
MLNX- Strongest name. Looks like RIMM from Dec 03.
N-Sitting tight in here.
PETM- Breaks out off of earnings.
ROST- Refuses to break and now teases moving out again.
SHW- Moving out but base too short.
SWI- Strong and in a flag-like pattern.
TJX- Edges out again.
UA-Starting to pull in.
V-Sitting on the 50 day right here.
WFM-Moves off of 50 day.
HAIN goes on leader’s list this week but waaaaay too extended. Will need to wait for it to relax and put in another base.
Currently, this service owns gld,slv,amzn,kors,rost,tsco,tjx,wfm with all doing fine so far. I am just going to hold off tonight on anything new. I want to see what AAPL means to the market.
My big worry is how light volume has been on the move up. I know it is summer but the volume is ridiculously low.