Stocks closed higher today as stocks have pulled back after the recent gains. Health-care related stocks continue to perform well along with software. Trucking stocks have pulled back and finding buy support where they should (Old Dominion and JB Hunt) bounced on their 50-day moving price averages today.
Some stocks that look good right now technically include Team Inc. (TISI), Genoptix (GXDX), Celgene (CELG), Herbalife (HLF), Urban Outfitters (URBN), DXP Enterprises (DXPE), and Oracle (ORCL). They are at or near new 52 week or alltime highs.
I started to make a few adjustments today and will be looking primarily at growth stocks with good technicals and fundamentals (sales, earnings growth, return on equity, unique products and services). If the market is able to hold here, our best opportunities will be found in those stocks that demonstrate these attributes.
Have a nice weekend!
Arthur Daret