We have been a fair while now without a correction, however, markets broke to new highs on Friday which has to be seen as bullish.
Friday’s momentum should carry through to the open on Monday, in what should be a relatively quiet session, judging from the sparse economic calendar. Those fighting the breakout could cause some volatility for trend traders as the week goes on.
Here’s some links for the week:
CrystalBull – an excellent site full of market timing indicators.
Top 10 trading and investment books.
This is a great site for quick data visualisations, just type in a search term.
Forget tech, it’s the biotech bubble you should worry about.
Another year without a single day of losses for this HFT firm.
Here’s this week’s picks:
Nordstrom Inc $JWN
Nordstrom Inc. is an international fashion retailer with a history going back over 100 years. The stock broke out to new highs again last week after reporting earnings on Thursday that pleased investors. The stock is in a relatively smooth uptrend and has a good following among trend traders.
Celsion Corp. $CLSN
Celsion Corp. is a volatile biotech share with a market cap of $63 million.
The company gained sharply on Friday after positive news from an early trial of its ovarian cancer drug. This could lead to further clinical trials, likely to be scheduled for later in the year.
Unusual Volume System
Fiesta Restaurant Group $FRGI
This one comes straight from the Unusual Volume System after last week’s strong price moves. The group specializes in the operation of fast-casual, ethnic restaurant brands including the Taco Cabana and Pollo Tropical brands, with a total of 329 restaurants in the southern United States, the Caribbean, Central America, and South America.
The stock broke out on heavy volume last week but then reversed most of those gains.
VirnetX Holding Corp $VHC
Yet another stock that broke new highs last week, VirnetX is an Internet security software and technology company with patented technology for 4G LTE security.
The stock has been slowly grinding higher recently after losing around 70% in 2014. The stock has a 100% bullish sentiment rating on StockTwits.