Fearless Buyers
November 23rd, 2005 by BWV
This market just won’t quit. This is the 5th consecutive up day. We’re at multi-year highs on the major indicies. It’s a seasonally strong time for stocks.
There are lots of good ones around, but many look temporarily extended to the upside. I’m being picky about waiting for pullbacks and range contraction setups.
Under Armour, the sports clothing company, came public last Friday around $13.. then opened at $30! It was the biggest 1-day IPO gain since 2000.
Now the weak hands in that huge buying herd need to be shaken out. If and when UARM gets some kind of flushout/reversal day, I want to be all over it.
No positions in stocks mentioned
