Major averages tiptoed lower last Friday on lower volume ahead of the 3-day holiday weekend. The attempted breakout remains unconvincing, and any negative news in this news-driven environment would likely push the S&P 500 back into its base. European stocks and the euro are currently under some pressure as Spain and Greece face headwinds. Nevertheless, the action on behalf of leading stocks in the US remains constructive, thus tilting the odds in favor of a resumption in the uptrend, sloppy or otherwise.
A number of actionable names are showing good profits in a short time from the date and time we sent members the emails such as:
+39.8% gain in SKX, members notified 4/22 at 74.8, current price: 104.57
+8.1% gain in AYI, members notified 4/29 at 168.1, current price 181.68
+6.8% gain in REGN, members notified 5/8 at 481.29, current price 513.88
+9.0% gain in MOH, members notified 5/8 at 65.12, current price 71.01
As we discussed in the prior webinar, it is important to take profits when you have them in context with its chart and the general market since this market environment rarely serves up any stocks that sustain longer trends. And should you take profits too soon, such stocks usually issue additional pocket pivot and/or buyable gap up buy points along the way. To profit handsomely over the months in this QE-driven market, one must be quick to take profits.
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