kaltbaum weekend
I take it back. You will be receiving reports this way for the next week. The leaders:
AMZN- Big secondary breakout on volume.
CRM- Back to highs..
CVLT- Edges out to new highs.
CELG- In some sort of high tight flag.
DDD- Verrrry extended.
EXPE- Breaks out into new highs. PCLN confirms.
EBAY- Breaks into new highs.
EQIX- Just edging higher.
MA– Sitting tight.
RAX- Moves out of secondary range.
SHW- Moving into new high ground.
SSYS- See DDD.
V- Sitting tight.
Additions:
CREE- Strong gap and move. Needs pullback here.
GOOG- Big gap…a little resistance up here.
LNKD slowly moves into old highs.
NFLX- Monster gap and monster move with huge short position. Should have played.
PCLN- Big move up right side on volume…but 4th stage base.
Patience now paying off for EBAY and EXPE which started moving Friday. Service still owns CRM,CF,LNKD,MA,EXPE,EBAY and a market proxy.
To be repetitive, markets are stretched and extended beyond the norm on all time parameters. But that still doesn’t mean a pullback has to happen. Last year, market ran into April and as I scanned the markets going back to 1990, there were several occasions where moves were out of bounds…so dont get caught up in all the talk that the market HAS TO pull back. And…if it does, I expect it to be controlled and rotational. Yes…bullishness is now rampant and the small investor is supposedly getting back in AFTER the market is up 125% of March 09 low. Also saw a schmuck calling for 25,000 dow…and another one calling for higher. Funny, didn’t see any of these people say these things back in 09.
Only areas of trouble are gold/silver and underlying stocks, the bond market and noticed some asian countries rolling over because japan is crushing their currency on purpose which hurts other asian countries.
No additions today but should be a ton on a pullback.