MKTX Update

Market Axess Holdings (MKTX) announced a secondary offering this morning.  I posted this chart recently and said it looked good for a buy.  The stock has been hit by the news about the offering but if it can close above 30.86 today, I would remain bullish.  If it can’t hold, I would hold off on any buys.

MKTX Support Level

Share and Enjoy

Pullbacks from breakouts: MMS and SPF

Here are a couple more buys to consider.  Both came up on my alerts today.

Share and Enjoy

The most difficult decisions

I hate having to react to the arbitrary decisions of other people.  Perhaps this is why I despise having a boss and why I’m drawn to the independence of trading.  Unfortunately, no matter how hard I try, I still have to deal with arbitrary decisions of other people and today that person has the title of “equity analyst”.

Today, Chris Blansett saw fit to downgrade the semicon equipment suppliers, including KLAC, and I was forced to make a difficult decision.  I never make my decisions based upon analyst upgrades or downgrades, but this one came at a time when the overall market was ripe for a pullback.  The reaction after today’s sell-off will be the tell for KLAC.  Will the downgrade be a bump in the road or a catalyst for lower prices?  We’ll see tomorrow.

Share and Enjoy

More trade ideas: CLB

Last week I was watching KLAC and CLR to see how they reacted to the support levels created by their breakouts.  Both bounced and pushed higher, with CLR reaching new highs.  Another stock I’m watching is Core Laboratories (CLB).  It has pulled back to the breakout area on lighter volume and I will consider it for a trade.  Stop loss should be set around 118.50.

CLB daily

Share and Enjoy

IBD Meetup Group

I went to an IBD meetup group last week.  I wasn’t sure what to expect but I left very impressed with the operation run in Naperville, IL.  They had a very thorough review of market health that covered potential leading stocks (SWI being one of them), economic conditions, and several reasons why the last few weeks are signaling a new bull market.  The most important point that I took from the meeting was that there seems to be a shift in sentiment.  People now fear missing out on a rally more than they fear loosing money on a downturn.  This fear is the reason why we see many big-cap, highly liquid stocks like AAPL, MSFT, and INTC move up on massive volume as institutional investors pile in.

Share and Enjoy