B2B – Back to Business
All day, my phone has
been ringing: “Dave what’s going on with B2B, what are you playing
today?” Naturally, I have to share with my readers. Let’s take a look at
the B2B index.
The sector took out two resistance levels and put in a continuation move in
two days. I’m also seeing strong volume on some of the breakouts within the
group. Looking strong, let’s see where it goes.
In tomorrow’s Trading the Techs AM, we’ll take a look at an actual trade that
I took.
Today’s
Watchlist:Â
(
SDLI |
Quote |
Chart |
News |
PowerRating),
(
TRMB |
Quote |
Chart |
News |
PowerRating),
(
TECD |
Quote |
Chart |
News |
PowerRating),
(
CAMP |
Quote |
Chart |
News |
PowerRating)
You’ll rarely hear me buying
stock over 300 dollars a share, simply because of their volatility. In the case
of
(
SDLI |
Quote |
Chart |
News |
PowerRating), there are so many people trading it, that I want to take a look
at it for my readers.
SDLI
(
SDLI |
Quote |
Chart |
News |
PowerRating) is hitting new highs on Thursday. It took out a near-term
resistance level with a gap several days ago and finally put in a continuation
move on Thursday. What we’ll watch for is continued volume strength. Note that
there is no overhead resistance. Make sure to check your earnings calendar so
that you don’t get caught off guard by any announcements.
Trimble Navigation
(
TRMB |
Quote |
Chart |
News |
PowerRating) broke out to a new high on
Thursday again, thanks to a gap. After entering a short-term consolidation, it
reached a new high Wednesday on a breakout move. Thursday is acting as a
continuation day. At the moment we’re seeing an intraday consolidation.
Daytraders should watch for a move above the intraday high on Thursday.
Tech Data
(
TECD |
Quote |
Chart |
News |
PowerRating) continues to perform nicely. Following the
two-step breakout that I highlighted in the chart below, we see a nice uptrend.
TECD has been travelling along this uptrend since the breakout. Trend traders
will want to look for retracements to the trendline to serve as entry points.
California Amplifier
(
CAMP |
Quote |
Chart |
News |
PowerRating) broke out from its cup pattern several days
ago. On Thursday we see a retracement to the same gap level that took it out of
the consolidation. Watch for a bounce off this near-term support level and a
potential return to new highs.
Until later,Â