Many of these will peak out by tomorrow, IMO. So caution is needed.
Excellent point! While there are likely a few gems within this group suitable for long term plays, it is unwise at best to jump on board with the herd unless involved in a momentum play with nimble fingers on the trading trigger. Recognition of their over bought condition does open up the possibility of some likely short plays, though. Remember, a short position when over bought yields a larger long position after the market has regained its senses.
If there are no objections from the thread, I am removing PCP and UTX from the portfolio. While technically defense stocks, this is not a conventional war, and I believe these two companies do not fit the profile of this thread.
Goodby PCP:
Precision Castparts manufactures complex structural investment castings & airfoil castings used in jet aircraft engines, as well as products for the gas turbine, airframe, fluid management, industrial metalworking tools & machines product markets.
Goodby UTX:
UTX has four principal operating segments: Otis (elevators and escalators), Carrier (heating, ventilating & air conditioning systems), Pratt & Whitney (aircraft engines and space propulsion), Flight Systems (helicopters electrical systems).
Regards,
HerbVic |
