Well, it’s been an interesting few days since our last post, and it’s hard to imagine that the sort of political rigmarole we’ve witnessed lately won’t be a consistent backdrop against which traders must navigate moving forward. Interestingly, the political hubbub has all but overshadowed the FOMC, and you’d be hard-pressed to even know we’re in the heat of earnings season.
Nonetheless, we continue to plug away and plow through the charts. There have been some solid bars out there lately, some strong earnings winners, and the action over the past several weeks has helped develop some good bases in a number of names. The key right now is to tune out the noise, which definitely isn’t the easiest thing to do. Confirmation bias is something that investors need to guard against, and the best way to do that is letting the charts and pricing action be our guide.
Let’s take a look at some charts.
Timkensteel Corp (NYSE:TMST)
MDU Resources Group Inc (NYSE:MDU)
LogMeIn Inc (NASDAQ:LOGM)
NetApp Inc. (NASDAQ:NTAP)
At the time of this post, RevShark had no position in any of the stocks mentioned.