The markets fell hard on Friday due to a lackluster earnings report from Google. The Dow backed of it's all time high of 14000 and Nasdaq fell 20 points for the week. My personal opinion is that it's time to become a bit cautious here. The markets have been in bullish mode for quite some time now and I would not be suprised if we go sideways for a while now. Earnings will be the big factor next week as more and more companies report for the quarter.
Still, the system remians in bullish mode and we are still long the QLD. I still own my NTGR August 40 call contracts, and have been really suprised by the way the stock held up on Friday despite the market weakness. I'll most likely look to exit the position this week.
Below are some charts of stocks that I feel are about to break out. These are stocks I wana focuse on for the comming week.
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