I get mildly irritated with folks who question my work with a jaundiced eye of skepticism. Ya see, I’ve been doing this for almost 32 years… 17 in stock brokerage as a financial services pro. I actually do know how the market works. I know what the very best stocks are to be a buyer of… and, I know how to time the market, though, at times, that can get quite difficult.
But, if you go back and read my posts from Thursday, May 19 on… I did call the turn… I just couldn’t be confident about it! Nailed it down to Friday the 20th, and Tuesday the 24th even… well, at least as best as the indicators were telling me. I stated exactly what I needed to see so as to nail it down, and the market did not give that to me, so, I went on what I had to go on. Plus, I mean really, you do get at least all that you’ve paid for, right? I mean, don’t you at least get your money’s worth? And, I am the one that says… Predicting is hard… especially the future!
Anyway, the train has pulled out of the station, and there’s likely a little more to go, for sure, but there’s still a lot of overhead resistance to clear out, and this current run may yet be turned back… which I would dearly love to see. But, I must tell you… when the market turns up, ahead of a solid signal from my indicators… that has often meant there’s unusual energy and strength behind the move, and this one could be the rally attempt that results in the break-out to new all time highs. IF this were to do so, I would expect that the most likely reason would be the matter of the June Fed meeting, and whether they actually followed through on another 1/4 point rate increase, or not.
Running my search, we have at least 22 lovely candidates. They are: NKE, HRL, JKHY, ROST, TJX, HD, EFX, SBUX, NOC, STZ, TSCO, EL, AOS, UNH, FDS, LOW, SYK, RAI, LMT, COST, CVS and NDAQ.
If you insist on price strength in your selections, look no further than these 14: JKHY, TJX, HD, EFX, NOC, STZ, TSCO, AOS, UNH, FDS, LOW, SYK, LMT and NDAQ.
And, how bout the fact we have at least 3 of our selections closing at new all-time highs in price! EFX, TSCO and LOW. That’s got to help you feel good!
May you all have a most blessed Memorial Day Weekend. I served, and I am only too happy to say that I am grateful that all of my thanks come to me in November, on Veterans Day, rather than in May, on Memorial Day. My thanks to all of the 1.364 million or so who died that I might be FREE HERE!
Tuesday morning, 6:15 am EST, and Asia was up, but Europe is down. Our own futures are barely up a bit. There’s plenty of overhead yet to overcome. It will need to do so fairly soon, if it’s going to happen with this rally. It hasn’t shown that it has ‘the chops’ yet, but the entire rally out of February never looked very well, yet it seemed to be unstoppable… go figure!
Here’s to your successful investing!
Harold F Crowell