kaltbaum weekend report
Service owns CF,CRM,EXPE,EBAY,LNKD,LL,MA…with all doing fine. MA was funky off earnings but going to give it a chance. The new me gives things a chance these days. While MA failed a gap…it has held right where it needs to.
Growth continues to woefully underperform versus value and stuff. The market remains stretched and extended from the norm but last year, the move lasted into April. Please ignore the morons talking 14,000 and the bigger morons out calling for 25,000 dow. The market has averaged 7%/year throughout history…which would get us to 25,000 in about 8 years. Of course, bubbles do happen and with the psychotic fed printing a trillion each year…anything is possible. We will just keep watching for clues in the market action itself.
Leaders list:
AMZN- Weird action off earnings but still above 50 day.
CRM- Acting fine along 21 day.
CVLT- Strong reaction to earnings and extended here.
CELG- Edges out of high tight flag.
DDD- Comes in hard but remains above 50 day…will keep on until it breaks but yuck action this week.
EXPE- Into new highs with pick-up in volume.
EBAY- Breaks into new highs also.
EQIX- Just extended.
MA– Sitting tight now after earnings.
RAX- Pulled in this week but still fine.
SHW- Sits fine.
SSYS- On 50 day here…will watch how it acts here.
V- Pulled in just a wee bit.
Last week’s addition:
CREE- Refuses to pull back off of gap.
GOOG- Breaks out above big gap range…with volume. Can probe in here or on any little pullback.
LNKD- No issues…earnings soon.
NFLX- Now starting to sit…and will watch for entry.
PCLN- Mentioned 4th stage base last week and taking off for now…didn’t like its action.
I may add CELG on a buy tomorrow…but not much else to do here except wait for market to return to norm.
Remember, from here…reports will be on weekend with a Monday premarket. Wednesday with a Thursday premarket…and as needed. As needed means when something comes off, something is added or something changes in the market. And of course, you may email me any time at this address.