These 3 stocks are pushing nicely ahead

  • November 8, 2005
  • Tim Truebenbach



Timothy J. Truebenbach is the President of True Capital Management and
general partner of True Capital Partners LP, a hedge fund. He uses a
disciplined model that trades on the intermediate-term time frame. For a
free trial to Tim’s Nightly Stock Analysis Report

href=”https://tradingmarkets.comsubscriptions/details.cfm?item=5915&subcat=it”>click here or call 888-484-8220 ext. 1.

The market remains in a confirmed
uptrend with a multitude of leadership waiting.  Most recently, the
NASDAQ paused exactly where it should have, after gaining almost 8% from the
10/13 low.

2,166 and 2,186 proved to be true resistance as one would
think. The NASDAQ has yet to eclipse these levels, but it may only be a matter
of time. We saw the index pull back slightly while volume contracted from the
heavy levels that displayed institutional buying on the way up. Overall, 2,200
is going to be the index’s biggest obstacle.

 

 

 

Many of the original leaders have gone on fairly nice moves. Stocks like Apple
(
AAPL |
Quote |
Chart |
News |
PowerRating),
Google
(
GOOG |
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PowerRating) and Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) have pushed ahead nicely.

 

 

Fortunately, stocks do not just go straight up unless they are putting in a
top.  Usually they ‘stair-step’ higher and this will give investors additional
entry points if they wish to own them. Over the past couple of years, this
market has been notorious for offering an entry point right when you are ready
to throw in the towel and buy and advancing (or breaking out) name. 

 

In addition to the leaders that have already pushed higher, the recent week has
seen the emergence of more set-ups. Retail may be worth checking into as we
approach the holidays because names like Carters
(
CRI |
Quote |
Chart |
News |
PowerRating) are popping up. This
stock displays strong earnings growth and strong accumulation in the base.

 

 

Brokerage and financial names seem to sense life out of the paper-asset
investments (stocks and bonds.)  Tradestation
(
TRAD |
Quote |
Chart |
News |
PowerRating) broke out of a base
and Ameritrade
(
AMTD |
Quote |
Chart |
News |
PowerRating) is setting up.

 

 

The best thing we can do in a rising market is to position ourselves in a stock
that is poised for strong gains. We can also simply buy the market or sector
ETF’s into a pullback. 

 

Please do not hesitate to contact me with any questions, comments or topics you
would like to see in future commentary:

 

Comments@Truecapitalmanagement.com

 

Enjoy your trading!

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