CMG, ULTA, MCP all had pocket pivots.
Note that price/volume action is always contextual to the general markets. Since the general markets were considerably weak today, the lower close on MCP can be forgiven. MCP only has a composite rating of 65 and is volatile, so handle with care.
CMG has a composite rating of 99.
ULTA released a favorable earnings report today and has a composite rating of 95.
If you are to initiate any long positions in this challenging market environment, ask yourself whether the probability of being rewarded on the long side given the general market's behavior is worth the risk. More conservative investors may decide not to go long at all or only initiate smaller-than-normal sized positions.
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