Sifting Through The Rubble
Greg Che returns from vacation
on Monday. In his absence, this commentary is being written by Brice Wightman.
Well, another up-day, but things still don’t look
especially constructive for the longer term (see Gary
Kaltbaum’s charts for the bigger picture). With charts like this, you might
have better luck in Argentine bonds than in most U.S. stocks. I’ve sifted
through the rubble and found a few (possible) gems for you.
Since a picture is worth 1000 words, let’s go
right to the charts:
Although the drug sector is weak, King
Pharmaceuticals is challenging its highs.
Â
Sungard Data looks like it’s ready to break out
of an inverted head and shoulders pattern.
Â
This weekly chart of Education Management looks
pretty good.
Â
Helen of Troy reported record sales and raised
its estimates. Pretty good base going here. It’s now over $10, so some
institutions may even consider it here.
Â
A 17 percent increase in quarterly earnings
propelled First Data into breakout mode.
Homebuilder Ryland is gunning for highs here.
Lennar
(
LEN |
Quote |
Chart |
News |
PowerRating) and Beazer
(
BZH |
Quote |
Chart |
News |
PowerRating) (not pictured) are also strong.
You’ll be hearing a lot about Qualcom, with China
winning the bid for the 2008 Olympics. Nice cup and handle here.
It’s been fun covering this column this week. I
hope you were able to make money from it; we had a couple of really nice setups.
Monday you’ll be returned to the capable hands of Greg Che.
Have a nice weekend!
Brice