Thursday, January 26, 2012

Market Recap - Home Sales Disappoint and Commodities Rise

Today saw some profit-taking with the S&P 500 falling 0.5% from a multi-month high set early in the session. Gold was up again (+1.25%) and oil closed just below the century mark, up 0.5%.

Tonight's recap will be short and to the point. It was a fairly boring session for most investors and therefore I will concentrate on 5 stocks/ETFs that look pretty darn good right now on the charts.

  • Air Methods ($AIRM) - Bouncing off support at the $80 area and just generated an RSI Crossover Buy Signal.
  • FTI Consulting ($FCN) - Breaking out of a week-long consolidation pattern and closed above the 50-day moving average for the first time in nearly two weeks.
  • Seniorhousing Properties Trust ($SNH) - Rallying from a consolidation pattern that occurred on its 50-day moving average; pays a 6.8% dividend.
  • True Religion ($TRLG) - A stock that continues to defy all logic, however its fundamentals are strong and it has been consolidating on support at the $34 area.
  • iShares High Dividend Equity ETF ($HDV) - Consolidating as stocks take a breather; love the dividend on this ETF. Time to buy is between $54 and $55.

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