These 4 Stocks Remained Strong Today

The
market spent most of the day higher as we await the election results. 
Volume is heavier than Monday on the NASDAQ.

 

 

 

At this time, the above
indexes are trading above their 200-day moving averages, which indicate
strength, but we are definitely in a wait and see mode until the presidential
race is concluded.  I think everyone is cheering for a quick end to the
process and hoping it does not get drawn out.  Whatever the result may be, it
is important to stay continually focused on the leading sectors and stocks.

Internets, retailers,
software and telecom are examples of recent strength in this market, but it
will be worth watching as to how we can close out this election week.  As I
have been saying for the past month or more, this market is one to be invested
in based on the price and volume action along with the leadership we have
seen.  If the market does suffer any further weakness, it may be used as a
buying opportunity.

Regardless of whether you are
in or waiting, now is basically a time to enjoy this tight election and
exhibit patience as this market sways one way and another.  One interesting
thing to note is that many of the leading stocks did not completely roll over
in today’s session.  They were able to maintain strength and post gains. 
Names include Ebay, The Merq (CME), Vimpel (VIP) and MBT.

 

 

For now, we hang in there and
exhibit patience as much of the uncertainty is worked out hopefully over the
next few days.

Tim Truebenbach