CB Richard Ellis is following through on its breakout from last week. My biggest concern at this point is that volume has yet to confirm the breakout.
ICE looks impressive after taking the day off Friday. It will be interesting to see what happens now that the company is not involved in the BOT deal. The company continues to look attractive both on a stand alone basis as well as a potential buyout candidate.
The price action in LVS has the bears a bit worried, but volume has yet to show any significant accumulation of the stock.
FC Stone was in the news this morning as BMO Capital raised their estimates. The action is a bit choppy around the $60 level and conservative players may need to hedge positions or reduce size.
Under Armour holds onto its new high from Friday. I covered my short some time ago and I would not recommend holding any short position that is touching new highs.
Update 7/16
July 18th, 2007 at 4:16 am
in the same category as underarmor, crocs- crox has come down $5-ish to the lower 45s by after hours tuesday. is that a good spot to opening trading longs?
July 18th, 2007 at 4:21 am
i dumped my CMG “A” shares for average price of 88.60.
for Tuesday i learn another house made cautionary comments about how commodity cost might limit the quarterly earnings “beat” potential. so the shares have come down hard over 2 days. 92 > 85.75 or a $6.50 dip. i reopened my
long on tuesday for about 86.50. thoughts about the dip and bounce potential if any?