The bulls are having a blast… and the markets are at (or near) historic highs…
With a Mexican agreement in place, the Fed reviewing their own position re: rates, and a slew of ‘decent’ data, there seems to be a bit more fuel for the markets to keep pushing higher.
But… no one knows when the other shoe will drop, yet this is a movie we have seen before.
That being said there are a few key Dow stocks that have started to turn and it’s time for smart investors to take a hard look at CYA.
Here are 2 stocks you should consider getting rid of…
I am not a pattern trader, but I do know what a head and shoulders chart means… look at below! UTX just dropped below its 200 day MA and that is NOT good news for holders of this stock. UTX is set to report earnings towards the end of July and analysts are looking for earnings of $2.04 on revs of $19.4 billion. We shall see!
Hedge fund interest in HD was flat at the end of the last quarter and that’s a negative indicator. We can’t judge Home Depot on that alone but when you take a deeper look at the overall hedge fund market, and you see how the ‘upper crust’ funds have cut shares, well that is certainly not a good sign and should have investors running for the hills.