Want To Stay A Bull?

*If* one still has a Bullish outlook going into years end, you might want to look at underperformers who haven’t had huge run ups and take a chance on Fridays breakout in OMX.  Having only retraced 23.6% from it’s ’07 high, it corrected, formed a triangle and broke out on higher-than-normal volume.  I’d try to get long around $12-12.20, place a stop below Fridays low, take off some @ $14.50, $16.20 and let the rest ride.

Then there’s Brunswick [BC].  It retraced over 23.6%, corrected back and found support there forming a triangle.   Some may feel that Friday was a breakout with higher volume so you could try a long Monday morning and if it fails and pulls back, double down on size at triangle support.   My targets would be $13.80 and $14.50

Then there’s KIM, one of the REITs we all love to hate.  It broke out on higher volume.  Buy on a pullback, stop below breakout support with target at the 23.6% retracement level.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s