I was out all day and won't be trading tomorrow so I can't really review where we stand. However, I went through the IBD100 tonight and I am highlighting a few interesting charts.
We'll start off with a couple shorts.
BER broke down and has formed a little bear pennant up to resistance.CIB fell out of an ascending triangle. Could drop to previous pivot low or worse.
FMD has an interesting chart as it broke out of a base but has been having a hard time with previous gap resistance. If it can close the gap, it might make a move to the 70's.
I highlighted MFLX as a chart to watch to see how it handled the trendline and it looks like it is bouncing off of it.
NEU is looking very strong here.
I ran out of time but a couple other charts to keep in mind are INFA and ITRI.
Good Luck,
DT
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Hi,
I am curious as to whether you have been following ERS as of late. It is on a very strong uptrend. A great stock to Trend Follow.
Your thoughts are welcome.
ML
Muaad,
Yes I have been following ERS and count me as one of the ones that sold too early. However, I've been thinking it was way too extended for a safe re-entry and today confirmed my belief. Today's drop probably killed it for a little while as the next couple rally attempts will probably be used to take profits for those who missed the first chance. It is still a very strong stock and I will be watching for a safe entry.
DT