|Day Low/High||29.61 / 30.59|
|52 Wk Low/High||11.47 / 37.99|
These names are showing both technical and quantitative deterioration.
Since highlighting these two different companies on July 2, both have gone up, and now they look to be prepping for another leg higher.
Most of the stocks in the sector have bounced and are trading near intraday highs.
Despite the good action in the indices, I'm not putting much money to work.
Neither end-year portfolio positioning nor tax planning is driven by fundamentals.
Unless and until the Dow hits 20,000, that's all we're going to hear.
While we wait for the inevitable event to occur, the best use of our time is to keep digging for trades.
This is the time of the year when many moves are made for tax reasons.
The euphoria has calmed down, and if stocks can consolidate, we will have some better entry points.