Monday, November 21, 2016

The market is very strong and can be described as a "lock out market."  This is a market where most investors missed the turn and now can't find buyable entries to get invested.  If you weren't buying during the first few days of the rally, you are in most cases to late to buy the leading stocks.  You now either have to wait for a pullback or a new base to form.  The model list of stocks, that I go through almost every day, is a great starting place for ideas.  The problem right now is that many are too extended in price.  Financials, Iron Ore and Copper are some of the newest groups emerging since the election.  Over the next couple of weeks some in those areas might provide some possible buys. Freeport-McMoran, (FCX) is example of a stock that actually started to move before the election, rallied almost 30%, consolidated and jumped up again today.  That is the type of setup we have to keep an eye out since so many are extended in price.

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