Quite the week where it looked as if the markets were tempting with a correction, but there just was too much buying pressure that turned into a bull’s fiesta on Friday. I sold a lot of stock into that strength because just when it looks like the market is going to go to the moon it surprises is with a few down days, where we could pick up some stocks at good prices. The real reason I took profits is because they hit individual stock targets, it had nothing really to do with the markets.
Here are a few individual stocks I’m looking at for next week, as most other momentum stocks are slightly overbought right now. All looks well on the timing system as it remains firmly in an uptrend. And for those keeping track, I highlighted EW as a pullback play on the 15th when it was under $58. You can view that post here.
If you interested in what my next pullback play is, it continues to be HMIN, which could be very attractive under it’s 50dma.
