After screening a number of stocks this week and reviewing the stream, there are few quality setups I am noticing in tobacco, dollar stores and a select number of utilities. Since I always have my eye out for boring D.R.I.P opportunities, here are a couple names I noticed throughout the course of the weekend.
Courtesy of @commavetrader we also have the recent IPO/ couch cushion shopping $DG looking good as well. Dollar Tree is ($DLTR) is another in the space with strong earnings growth and a nice looking chart. These aren't necessarily the high yielders as previously mentioned, however price is truth until it is not in my opinion. Other notable mentions in the cheap retail space that look good include $MCD and $TJX.
Although the aforementioned charts demonstrate potential, they are not the most promising areas to find powerful relative strength and strong moves in my opinion.
Granted there are thousands of ways to make money in stocks, however for those on the stream with an interest in monster trends such as those of past leaders i.e.: ($HANS, $CMG, $GMCR, $LULU) $MO, $LO and $SO in all likelihood will not present such leadership.
Depending on your time horizon and investment style, these names may provide opportunity for some.
Others may find opportunity in a 3 or 5 minute chart, given the violent intraday moves we have seen on a regular basis.
However, in my opinion we are still in a challenging environment on a swing trading basis.
There are a number of macroeconomic risks including China and Europe.
Among the areas of death at the moment include the Shanghai Index, Copper, Financials, the Aussie Dollar and steel. I am not an economist and will not attempt to pontificate my economic views. I'd much rather observe price and act accordingly.
Here is what I see with respect to the $SPX…take it for what it is worth.
Good luck out there!
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