Zeev,
Although a chart of the nasdaq looks negative and implies more downside to come, there are many stocks starting to turn in positive earnings and revenue growth for the first time in four to five quarters, it would be hard to imagine this downside action as more than a correction to work off recent excesses.
I've been all cash for the last couple of weeks and really don't have time to day trade any more, so I'm looking for a few good stocks to more or less swing trade. I like AMGN, BBH, QCOM, and possible IGT.
AMGN~ Looks to be breaking out of a decent triangle formation and should work it's way higher to at least the 52 area. Stock is trading 3.88% above 13-Day MA and 4.44% above 50-Day MA. With its 13 and 50 Day Averages sloping in positive direction.
QCOM~ What can you say about this company, I've owned it before and believe now may be the best time to jump back in. Growth looks to be back on track and it seems their firing on all cylinders. Stock is trading 2.23% above 13-Day MA and 14.51% above 50-Day MA. With its 13 and 50 Day Averages sloping in positive direction.
BBH~ Nice tradable channel. Stock is trading 1.05% above 13-Day MA and 4.23% above 50-Day MA. With its 13 and 50 Day Averages sloping in positive direction.
IGT~ Revenues in the latest quarter surged 77%, while earnings jumped 30% higher. Profit margins are a healthy 16%. This stock looks range bound for the near future, maybe a longer term play?
Any thoughts on the timing of my buys on any/all of these companies would be appreciated.
Thanks,
B
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