Hot stocks. Ford. AMR. LCC. JBL. MISC.

090923fYou can tell we’ve been looking at the hot stocks, which we do sometimes for amusement, just to check the permutations of human folly.

We bought F back around the bottom because the depths of human folly were being explored and it seemed foolish not to take advantage of it.  Profits on that trade, still open, in the hundreds of percents.

Now we have an aggressive trader’s add on signal.   At any rate we’re not even sure you need signals here.  Over the long term can we imagine Ford not returning to strong and healthy condition?  That was why we bought it in the first place.  We expect to hold it for years.  If you want to be cautious here you can wait for a confirmation of the Basing Point on this downwave, and even more conservative wait for the August high to be taken out.

090923amrOn more or less the same theory AMR might be scaled into.  Once again surmounting the overhead horizontal line would be the most conservative trade, but a scale in might be warranted.

090923sxciSHCI.  Right up there on our hate list with banks and politicians are health care and health insurance.  Just as banks have you hostage for credit, these companies have your health hostage, and the price is absolutely inelastic.  The reason health insurance is so expensive is because health insurance is a monopoly.  The idea that they compete with each other is absurd.  Anti trust provisions should be invoked against them.  And, as we have said, in the market they are just Monopoly (the game) pieces.  Maybe somebody knows something on this one.  8 times normal volume and soaring to new highs.  Personally we don’t need to do it for our personal accounts, but excitement seekers might get a roller coaster out of it.  If getting on use a money management stop.

We also looked at LCC and JBL which might be on the verge of signals.  You can look at them yourself at prophet.net, which is where we get most of our charts.  Basic service free.  Stockcharts.com is also an excellent site.

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