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The Chartman

Kraft, Intel Have Room to Run

The ChartmanFOXBusiness

Boy, this is one strange market. In fact, according to many statistics, the rally we’ve seen (i.e. the most days EVER above its 5-day moving average) is unprecedented.  Of course, I’m worried about it being overbought, but I still haven’t received any kind of sell signal. That could come suddenly, but until then, the long side dominates.

Kraft Foods Group (NASDAQ:KRFT) was my pick on Bulls & Bears last week, and it did nicely the past few days. With Friday’s breakout, there’s still room to run.

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I also talked about Intel (NASDAQ:INTC) a few weeks ago, looking for a close over $35. It did that Thursday, and with Friday’s small pullback, it looks primed as a long pick on Monday.

Back in two weeks to see if the long side craziness continues!

What do you think?

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