Regrets for establishing the KSS position early in the week were many, but it closed out the week in strong fashion. Retail is still vulnerable but putting one trade on made sense.
In reality, we should have initiated the IBM long this week as well instead of simply watching it go higher each day. Will look for a better entry point in that name as there is still plenty of upside left.
NBR - Still hanging tough. the Energy BP% chart has turned up and issued a buy signal after a break of the 34 level. A buy setup like that usually means get on board for a strong rally and as a result, a couple of additional energy picks will be established this week.
TBSI - We are going to monitor this position closely as the chart has turned negative.
On the short side, we thought twice about the CFC short and have decided to stick with it. The adjusted price target based on the recent chart activity is 0. How can you argue with that risk reward? All of the homebuilder stocks have been hanging tough, but they have a lot more downside. Several will be added to the model portfolio to gain exposure to the brusting of this bubble.
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