Tim Reazor
Chief Investment Strategist
NorAm Asset Management
GMCR declined about 8% on Monday. Most days when this happens to a stock I’d tell you to sell. For the moment this case is different. GMCR lifted off on rumors during the last hour of trading on Friday. Today those rumors were believed to be unfounded and GMCR came back to earth. I want you to focus on box I’ve outlined on the chart below. Look at the support GMCR received today. This is impressive.
GMCR had every opportunity to undercut this constructive consolidation and it didn’t. GMCR still possesses the attributes of a potential leader. Here’s my piece from last week. I cover in great detail the facts about GMCR. http://noramassetmanagement.com/articles/leading-off-a-stock-nearing-a-buy-point/
What would change my mine about GMCR?
If GMCR undercuts this constructive consolidation my opinion would change in regards to GMCR. That doesn’t mean you short it. It means that the set needs more time percolate and there is no need to waste capital while it brews.
If you’re interested I’ve created a video that covers critical levels for the markets, gives you my watch-list complete with buy-points and I also cover weekly credit spreads. I highly recommend that you watch it. I sincerely hope that the video helps you. Please pass the video along to anyone you think may be interested in the markets. Here is the link – http://vimeo.com/97572447
A few more notes… I cover exactly what will shake me from this market and how to react if the market tumbles on this week’s “Your Money” Radio show. If you have a moment please let me know what you think. I want the show to be a resource for you. Your comments help me make the show just that – a valuable tool for successful investing.
http://www.thewallstreetshuffle.com/category/podcasts/
You can listen to the show live on Saturday’s at 10:00 AM – just click this link and bookmark it – http://www.iheart.com/live/1190AM-4276/?autoplay=true
You can also listen via the iHeart Radio app. Simply download the app to your smartphone and search for 1190 AM Dallas. There is even an alarm you can set to remind you of when our show is on.
If you want to come into my office and learn about credit spreads send me an email. It would be a pleasure to meet, bond and talk stocks together – tim.reazor@NorAmAsset.com
I often talk stocks and markets on twitter – you can follow me by searching for my handle – @TJReazor
I hope today’s newsletter helped.
Best Regards,
Tim
The information presented is for educational and entertainment purposes only. Opinions and information expressed are based upon information considered reliable. However, factors are constantly changing and should not be relied upon. You need to do and verify your own research.
Moreover, no reader or listener should assume that any information or discussion presented serves as personalized investment advice from NorAm Asset Management, Inc. or from any other investment professional, and is not an offer of solicitation for the sale or purchase of any specific securities, investments, or investment strategies. You need to have your own, individual investment advice suitable for your personal situation.
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