The Shakedown 9/30/18


Same Same but Different

Much of the same action this week as we've seen in past weeks! Overall choppy market action, big picture uptrend, with it being considered an individual stock picker's market -- perfect for us. The only thing different is the beginning of the 4th Quarter of the year next week. It will be interesting to see where money rotates to kick off the final quarter of the year. 

Currently, we're seeing money being rotated in and out of sectors and individual names pretty quickly, and whether or not the moves are sustaining are anybody's best guess. Some names have been acting great such as GOOS, BCOR, GMED, DHR, & ITA to name a few. On the other hand we've seen surprising day 2 weakness after a high volume breakout which quickly negate the gains from the first day. In these situations I am not changing my strategy too much, just sticking with the winners and being somewhat selective. We have Q3 earnings to look forward to in a couple weeks. 


ALRM putting in a super tight bull flag just under $58 with Friday being a quiet, inside day. We can play off the inside day and use a tight stop if we get a Monday morning trigger that sustains. They don't get much tighter than this ALRM.

Trigger: $57

Stop: $55.89

Target $62+

Hope to see you in the chat Monday! 

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