And finally a late day rally that boosted the indices into the plus column. The S&P 500 ended with a modest gain. I haven’t seen the weekly results yet but I’m sure this was a poor week on balance for everything but the shorts. RSI & CFK both came up with no picks. Stok did have some nice picks, so here they are:
- CVH – Coventry Health Care Inc.
- OMCL – Omnicell Inc.
Both of these are in the healthcare business, so we are into the ageing baby boomer play? They are attractive technically and fundamentally. Give them a look
I have just incorporated a new Hurst Channel algorithm that was suggested by one of my cohorts. Up to now a few picks have passed the test and made it to the recommended list that were mild violations of Hurst. The new versions of RSI & Stok have been modified to incorporate this change. I really notice the difference .. thanks again Tom! CFK, by its very nature, cannot conform to classical Hurst, because it is in free fall. Therefore its engine remains unchanged. I may have to rename these three engines since they all are based upon similar principals.
My wife and will be spending a long weekend in Estes Park, CO attending a Victorian Ball and then hiking in the national park. Therefore there will not be another blog posting until late Monday; no “Week That Was” this weekend. It will be instructive to observe the days leading up to Thanksgiving. Will traders be rushing in to buy bargains before the holiday shortened week? This will be a good tell for the mood of the market.
