Published June 29, 2012
Wow, quite a week for the bulls. And who’d have thought that, with the Supreme Court ruling and Europe still ugly? But, the market generally confounds and this week it was the bears who were frustrated.
As you can see by the chart below, I don’t think the light is entirely green for the bulls, but I wouldn’t want to be short right now.
Looking specifically at two important sectors – energy and healthcare – it looks like both are moving.
I like Blackrock Energy (BGR) as a solid oil play (I’m long BGR) and think it has further upside in it, especially after the trendline break.
I’m also long Johnson & Johnson (JNJ), and I guess folks think it will benefit from ObamaCare. I don’t know if that’s true or not, but this stock certainly has some upside potential.
That’s it for now. Enjoy the holiday!