Published August 03, 2012
After a week of fairly negative action, I thought Friday marked the start of another leg up. It certainly was bullish, as all the indices broke above significant resistance. I guess we’ll see soon if the late summer rally is a go.
As for individual stocks, there’s a lot of focus on Facebook (FB). But, what about LinkedIn (LNKD)? I think the Friday move was nice, but a bit more needs to be done. Keep an eye on it, though, as the bulls may drive this higher.
Another stock on the cusp of a buying opportunity is ExxonMobil (XOM). Oil prices are rising and XOM is getting into range. Wait for a close above resistance, though, before striking.
That’s it for this week. I’m off next week, but back after that.