Three Market Leaders I’m Looking At Here

The market found nice support in Tuesday’s session. 
Volume came in heavier on the NASDAQ, despite the looming Thanksgiving
holiday.

 

 

We are continuing to see
strong leadership out of the market’s leaders.  Most names are correcting, but
remaining above their respective areas of support such as 50-day moving
averages.  Internets have been leading the way with the likes of Google
(GOOG) and Ebay.  Travelzoo (TZOO) has also been on a tear and
recently seen correcting, but has remained above its 50-day moving average
thus far.

 

 

^next^

We have breakouts succeed in
names like Bucyrus (BUCY).  The stock established a cup and handle base
with a buy point at 35.10.

 

 

Flir Systems (FLIR)
is currently setting up in a double-bottom base with a current buy point of a
handle at 61.90.  Many companies, such as this one, are seeing strong earnings
growth as well as sound base patterns that are usually evident in strong
market leaders,

 

 

The leading NASDAQ has been
consolidating for the past week or so and now is a great time to step back and
pick the stocks or areas of the market that appeal most.  We have already seen
ample evidence that this market may very well continue higher in the weeks and
months ahead.

This Column will return next
Tuesday due to the holiday.

HAPPY THANKSGIVING!!