The Daytona 500 was rained out yesterday and is being run tonight. Clearly I will be a bit distracted so just a quick post that is chart heavy for tonight.
Market Operations
This morning's sell off just did not feel like it was going to stick and pretty soon after the open buyers stepped in. After things settled in this morning I opened up 3 new long positions.
WFM (Whole Foods Market)
I usually don't enter into names I see all over Twitter and other places, but the long term 2006 top for WFM is too interesting a spot not to try out here. Click any chart for larger view.:
CTCT (Constant Contact, Inc.)
I saw this one over in the 12631 trading room as worked up by ChessNwine. Tight basing after a breakout over $30, has some room to run higher:
CACI (CACI International Inc.)
I found this idea on a PPT screen. Great buyer interest and stock has moved past the $60 level here:
I still hold BANR but it's putting me to sleep and will cut soon if the stock fails to move.
A mix of names for this week.
When I was doing my screens I noticed a large number of utility stocks making up the accumulation list. Some of these names are seeing buying numbers that are even larger than during the height of the summer doldrums. A couple I found:
NEE
D
There were about 4-5 other names that looked the same in the same sector. This screen tends to show accumulation before price moves. Why are "safe" plays like utilities being bought more aggressive than any time since the summer? I am not sure, but it's worth watching the rest of the week.
Have a good night.
The Wrestler" is a tough movie and one that I think all should see. Not only does Mickey Rourke give a performance of a life time, the story is so painful and real that it can hurt. A lighter clip finally made it's way to YouTube, but of course I can not embed it. As the lead characters rock out to Ratt and "Round and Round" both explain the crap 90's grunge music in perfect clarity:
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