kaltbaum weekend report

AMZN- Setting up well into earnings.

CRM- Sits tight.

EXPE- Pulling in a bit here.

EBAY-Setting up into earnings.

EQIX- No problems…just no pivot.

MA– Continues to ascend.

REGN- A little wicked in this base.

RAX- Breakout holds fine so far.

SHW- Moving into new high ground on no volume.

V- No issues…just extended.

ULTA– Bye bye for now…poor action.

 

Adding CVLT…will watch around 50 day…and DDD/SSYS in same group but both ridiculously extended.

The service bought LNKD on the move…and will add to this list if it breaks above old highs…has potential with the strong numbers it has. CELG will probably also get added but that has gone vertical after breaking out of a weird looking base.

 

Earnings season starts this week. I will not put out any names the same week of earnings. Also, I will be adding some “non-growth” as for now, that’s what is working best. I will be watching closely reactions to earnings…looking for gaps and breakouts.

 

Its tougher sledding here…not the market but the fact the market is extended away from the 50 day. It is a guarantee that eventually the 50 day will meet with price but that could take weeks as the moving average catches up or price pulls back. It is an unknown as to how it happens. Foreign markets remain stronger than the U.S. Most stuff is extended because of the big gap on the first day of the year and remains that way. Frankly, I would rather buy the strongest stuff pulling back than new stuff breaking out. This is why we constantly keep a leaders list.

 

Currently, stocks on service are CRM,EXPE,EBAY,FDX,LNKD,MA.

 

I am tabling any new plays this second as we go into earnings season but do have some things I am watching…believe it or not, airlines like ual and jblu…machinery like fwlt and flr…investment management like ben,trow on pullbacks as they broke out on no volume. You can see I am expanding to what the market is giving.