RV Buying Boom Has Lit a Major Flame Under This Stock

 | Nov 28, 2017 | 10:53 AM EST
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Stock quotes in this article:

wgo

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tho

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cwh

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sq

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ostk

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qnst

The indices are looking better than the broad market this morning. Breadth is positive but the pockets of momentum have dried up and there is quite a bit of consolidation taking place in individual stocks.

The list of big gainers is way down with only about 25 stocks up more than 5% so far today. Last week we had over 100 stocks moving that much most days. The main issue for the speculative traders is that there isn't a hot theme at the momentum. The blockchain and cryptocurrencies plays are resetting and there isn't any other group that is emerging.

One sector that does look good is RVs. Thor Industries (THO) is surging on earnings and that is boosting Winnebago (WGO) and a couple others. My Stock of the Week is Camping World (CWH) , which retails RVs, and that is breaking out on the news this morning.

I'm eyeing pullbacks in names like Square (SQ) and Overstock.com (OSTK) for entries and waiting for other setups to develop. One stock I added this morning was QuinStreet (QNST) , which is moving higher after a four-day rest.

This is exactly the sort of action we need for more setups to develop. It wouldn't hurt if the selling accelerated. One problem is that the indices are helping to keep sentiment too positive. It would be better if there was some worry but that seems to be a forgotten emotion.

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