"Sink or Swim" CHB,CERN,DRTE,IONA,JDAS
CHB
Part of the mobile/manufactured home sector. CHB enjoyed a volume/price breakout. WGO, THO COA are leaders and already near highs, but CHB is looking 'ready' and 'mobilized (pun intended) for more upside here if it can take out the 9.35 area and head towards 9.75 and higher highs.
JDAS looks to take out the 50 day moving average to the upside (29.22) and could move up from there. A failure at this area might be a short play.
DRTE
great sector and has resistance at 14 as you can see on the daily chart. A move above 13.75 can be a prelude to a move above 14 and continued upside. Part of the Computer Software (MEDICAL) sector where CERN is the leader.
IONA
Looking here at its declining 50 day moving average (14.40). And a move above 14.20 might be an indication of further upside. If IONA fails at this area, it will be a pattern failure and perhaps overbought here and ready for a 'short term shorty short'.
CERN
A favorite earnings play and leader of the Computer software/medical group sector. CERN reversed a huge 2 day gain today when it closed in a bearish harami. I would wait for the 10:15 as CERN might have an 'exhaustive move down'. If market internals are weak we might short CERN below 54.78 or at 9:50 whichever comes first. Look for a possible recovery at the rising 50 period moving average (10:30)on the 5 or 15 minute chart.
The important point to note here is that this might just be a 'pause that refreshes' and CERN could recover after some early morning weakness.
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