Quick post to let you all know regular website updates will be back next week. Some may have noticed I started cleaning up my public list during the weekend. Today I added the following stocks as I like the underlying sector strength pushing them up:
- CBOU – Caribou Coffee: Coffee stocks are on fire. CBOU is not the most aggressive momentum stock of the pack but is in the process of setting up a nice bullish flag. Coffee – Sector Overview Chart
- IPSU – Imperial Sugar: Sugar stocks are also acting extremely well. I did add Suedzucker AG the biggest European sugar producer based in Germany to the sector overview chart as Stockcharts recently started adding German ticker symbols to their database. Sugar – Sector Overview Chart
- SIFY – Sify Technologies: Along with REDF, SIFY is a great proxy to monitor India’s Internet growth. SCIF and IFN are Indian ETFs for a broader exposure without single stock risk. India – Sector Overview Chart I. + India – Sector Overview Chart II.
- WPRT – Westport Innovations: WPRT is in the natural gas engines business. Some of the best looking charts can be found in the Natural Gas – Sector Overview Chart
For now the S&P 500 is still stuck in a sideways trading range. Overall I consider the chart to be neutral. Price is obviously respecting the horizontal lines I drew into the chart a few weeks back.
Up-to-date S&P 500 Index chart on my public list.
Considering the fact the next 6 weeks are not the strongest from a seasonal perspective, summer trading typically is extremely tough, the charts now have enough time to set up for a strong directional move starting in September. As we have seen a strong up move over the last week or so this would allow most stocks to digest that move. In any case, no need to rush things. As I mentioned in my last post in June, I typically start out slowly after a long break. I go through my charts, do some scanning, try to develop a feeling for the market and then I initiate new positions. Depending on how those positions develop I start getting more aggressive or I keep exposure to rather low levels. The key is to listen to the market. Forcing trades is always a bad idea. More next week!
If you don’t learn to take small losses, sooner or later you will have to take the mother of all losses. – Ed Seykota
My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469
Buenas noches!
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