Trifecta Stocks and Breakout Stocks Portfolio Manager Bryan Ashenberg, CFA comments on Wall Street's newest love affair -- truck stocks! Following last week's Mid America Truck Show, investors are bulled up on the space. In addition, European truck registrations in February also showed continued strength. Trifecta Stocks, Breakout Stocks, and Action Alerts Plus have all staked their claims in the space as we believe we are starting to see signs of a recovery.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.