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Grinding higher

It is a slow grind higher with selective action. It is not a broad based up move. Rotation out of momentum leaders is a daily theme. QIHU was example of that yesterday.

But the selling is well contained and rotation in to new names is leading to slow  grinding higher move. Follow through on breakouts is not significant in most cases, so smaller profit targets are working. Biotech sector is clearly the leader at this stage.

Some of the good breakouts from yesterday are: BLMN PTIE IMUC






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One setup and one day at a time

The market continues to move higher. Yesterday there was a bit of fade after 2:30. The sudden reversal on many momentum stocks is in line w...

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Stock likely to breakout soon

Market has been acting well post breakout . The rally continues to be lead by select few stocks. Some of the stocks to watch for potentia...

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GOOG: A swing setup

Google (GOOG) was something I was watching for few days for swing entry. It offered good low risk entry for 50 to 100 dollar potential s...

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A bounce but will it follow through

The few days of oversold reading on index resulted in a bounce on Friday. That has been the pattern in this market . V shaped recovering af...

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Slow deterioration in breadth

Market is showing signs of underlying selling. But the pace of selling is slow. This market has had history of rebounding strongly from any...