All of my market indicators are positive. Barring an unforeseen event, I see only clear skies for the current market. So many great stocks are surging higher. And now that I have changed my technical focus from daily charts to weekly charts, I am able to ride my winners longer without getting whipsawed. A bull market makes us all look like geniuses. But true genius is evident when one can minimize his losses when the market turns down. But for now, I am enjoying the party….
Those of you who have been following this blog know I have a stock buddy with an extraordinary ability to identify great stocks early. Judy is a concept trader. She reads voraciously and has the ability to pick out the few gems among all of the noise. She educated me about the cloud and exciting biotech innovations long before they became well known. Some of you have asked me what Judy has been focusing on these days. You can now follow her yourself on twitter: @judyfr262 She expects a big week coming up for biotechs with the ASCO meetings……
I ran a scan this weekend for stocks with weekly technicals I like. I came up with 194. Here are the top stocks according to last quarter’s earnings. Note that not all of them are above their last green lines. This is only food for thought and these stocks must be researched further. I am monitoring OLED this week for a possible break-out.
Meanwhile the GMI is at 6 (of 6).