kaltbaum pre market

The boys have done another good job at end of month. Look at this whole year. End of month has been either flattish after a move or nicely up…no big down last few days. In fact, market looked like it was teetering on Wednesday and then had a “mystery” reversal. I will go back 5 years this weekend at the final few days every month and put together some stats. I gather I will come back and say just buy on the 23rd of every month and sell at the end of the month.

 

The service put REGN on the leaders list this past weekend…but it was in a high handle so didn’t play. Of course, it romps out of the high handle yesterday. The leaders list is a list that shows what the service believes is the strongest and best growth names,. They all have a few things in common. They are all trading above 10 week/50 day. A break of that level usually gets them off the list though a couple of times, we have kept name on because it was just below. They most have strong earnings and sales growth and finally, they all have shown great relative strength and have shown a great ability to hold up in crappy markets.

 

I am hoping for a pullback here…right at resistance and with month-end coming to a close. Hope doesn’t get you what you want. We shall see. The action has been good but a lot of stuff showing wedges on the daily charts. Just because something wedges does not mean it will sell off. Often, something will come out of the wedge into the upside…and sometimes, wedges just keep going. AMZN seems to fit that bill.

 

No additions today. Will take the weekend to do full scans…and will be back to you over the weekend.