The Growth Stock Report
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Market Bias
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Seller’s Edge |
The Growth Stock Landscape
We’re on alert for a turnaround of sorts as the S&P 500 touches its critical 40-week moving average.
Bottom Line: Haul in your profits if you’ve made money selling short. If your strategy merits higher risk, wait for a clear indication of a rebound before nibbling on Long positions. This market is still full of attractive stocks.
It would be just like the market to stage a massive sell off in this zone, only to make a sharp u-turn on high volume as funds buy on perceived value. Watch and wait.
Market Leaders Baidu (BIDU), Amazon.com, (AMZN) and Apple Inc. (AAPL) have pulled back to near their 40-day averages like the major indexes. A resurgence of the bull may give way to new Leadership. We’ll watch how these guys hold the averages for further indication of overall market direction.
No Setups made the list this week. And only one New High in FOSL.
Other Individual names making the grade for stellar growth include.
- Polycom (PLCM)
- Valeant Pharmaceuticals (VRX)
- Illumina (ILMN)
- Fortinet (FTNT)
- Cypress Semi (CY),
- Golar LNG (GLNG)
- Arcos Dorados Holdings (ARCO)
- Virnetx Holding (VHC)
Aggressive money may also want to take a closer look at the commodity Silver as it plays out a correction. This can be done with iShares Silver Trust’s (SLV) as well as a hoist of other funds.
Stay tuned,
Dan@thegrowthstockreport.com
DISCLAIMER: We may own the stocks discussed here. Data used here is accurate to the best of our knowledge, though may be subject to error. Trading in stocks can result in losses, which in some cases may total more than invested. Prudent money management involves only risking money you can afford to lose!