A Selective Market
On Thursday, major indexes ended the session closing with mixed results on mixed volume. Although recent sessions have ended in positive territory, indicators are signaling CAUTION as leading stocks are extended. Candidates meeting the criteria are narrowing and opportunities to purchase solid candidates has become very selective. Current holdings and new purchases should apply tight stop loss limits (3 - 5%) to protect from wide swings that could develop when the market begins to pullback.
Focus on stocks meeting CRITERIA.
This morning, futures are displaying a modestly HIGHER opening
Climate is - UPTREND
(Top candidates poised for higher levels near-term).
In general, BUY within 5% of Pivot, stop-loss 7% below buy price
Whole Foods (WFM)
Ross Stores (ROST)
Home Depot (HD)
Michael Kors (KORS)
Green Mountain (GMCR)