Even with the market in a clear downtrend during the last month or so, there have still been opportunities on the long side, such as US stock Dean Foods (chart below).
The chart shows that this broke out in early May, immediately prior to earnings. This was preceded by a period of consolidation over 2-3 months (complete with a failed breakout to the downside), and has managed to hold on to those gains and progress higher in spite of the general market downtrend .
As discussed in my e-book, it always makes sense to have 1 or 2 positions in stocks that show unusual relative strength or weakness in the opposite direction to the general market trend, partly to act as a hedge, but also as this can highlight a possible major move in that particular stock.
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