kaltbaum weekend report

First leader’s list:

 

AMGN-Too extended and no place to consider here.

AAPL- Trying…maybe a $620 pivot but no volume on this move up.

AMZN- Putting in a handle inside a bigger handle.

ALXN- Should have probed Thursday…into pullback. Up on rumors Friday.

BIIB- Still ascending…no place to enter.

EQIX- Another could have bought Thursday but still in range here.

EXPE- Putting in a flag or handle. Would love it to sit a bit here.

EBAY- Sitting in flag pattern/handle.

HD- Holds 50 day on Friday..

MLNX- Strongest name. Still giving no entry…may just tell you to grab a few. Looks like RIMM from Dec 03.

PETM- Undercuts but sitting back on 50 day.

PRGO- Another leader holds 50 day to the penny…but sloppy in here.

ROST- Possible late stage stopping me but holds 50 day to penny on Thursday and still in range.

SHW- Drifting higher after holding 50 day on reversal.

SWI- Possible powerful high tight flag. Will let you know.

TJX- Continues to drift higher.

UA-Good looking pullback but needed more. May take a few here.

V-Holds 21 day on pullback.

 

 

 

Adding back CRUS off big gap and huge forward numbers. Moving out already after gap.

 

Adding N. That reaction was the bad trades from Knight. Glad I didn’t own before that.

 

Adding back WFM as it gapped back up above the 50 day but needs time here.

 

 

 

 

 

 

 

 

 

 

 

Other notes:

 

 

 

Seems we get one or two big days up…a few days to bring it all back…and then one big day up. A quick glance at the russell and small cap indices show they are lagging the bigger caps…which have been led by all the defensive areas…drugs,food,beverage,tobacco,utilities,telcom utilities and reits. Also, with the stronger euro, the worst areas finally have a bid which means everything commodity…especially the oils. There is still no names in those areas to consider.

 

It is less than thrilling to see best looking breakouts are CBS,COF,KFT and HDB…not exactly growthland…but willing to probe ROST right in here with stops breaking the 50 day.

 

I also think you add to AMZN moving above $241.

 

Otherwise, I still do not have a lot of conviction as the market is being ruled by a few numbskulls running central banks. I expect more printing of money announced by the ecb…while our fed continues to print.