The market is holding up well, the Dow Jones is working on a very nice winning streak, the Q's have been consolidating for the last 11-days, and the small caps are lagging.
There's not much to say, we're in August, kids are almost out of camp and many parents are looking forward to vacation this month.
August is known to be a shaky month for equities, but so far it has been smooth sailing. As far as individual stocks we are not seeing a whole lot of momentum. We've seen a few earnings blow-ups in some of the high-flyers; PI, AAOI, COHR. Holding through earnings is always a crap shoot.
IRBT, NFLX, AAL, AXON, and VSTM are the stocks on my watchlist today. Stocks, for the most part, move in short term momentum bursts then trade sideways to down and then they repeat the process. Just go through charts, and you will notice the pattern. What we want to do is take advantage of those short-term bursts and repeat the process over and over again. Believe me, it can be done.
STOCK OF THE WEEK RECAP
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at fzorrilla@zorcapital.com or 646-480-7463.
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