I mentioned a few of these stocks earlier on Twitter, but, sometimes 140 characters just isn’t enough. I wouldn’t recommend add, removing, or necessarily doing anything with whatever positions you have yet, but track what is forming.
Caterpillar – CAT
It was just a week ago I pointed out CAT, and it is already up 5 points; however, volume has been shrinking as price has gone up. What does this mean? Pull back coming. Look for a quick drop in the coming days.
Netflix – NFLX
One of my 4 stocks to buy in 2009, Netflix has been on a rampage. Already up 51% for the year. You can see the overall trend is up, and, with a recent bounce of the 50 day moving average, Netflix should stay above that. In the next coming days or week, I would look for Netflix to create a solid trading range. If we manage to stay plus $45, then look for a brief $5 range.
Schlumberger Limited – SLB
Coincidence that we are talking about another one of my 4 stocks to buy in 2009; however, the best has yet to come for this stock, yet it is still up 18%. Schlumberger Limited is creating a pattern similar of many bottoming out patterns. Look for an official ending of the bottom when the stock moves plus $55, with volume of course.
INO – Get a free trend analysis for any of these stocks