Mondays top picks:
BUY: CAT
BUY: TLEO
As usual my trading rules apply:
We are looking for great technicals show combined with strong volume indicating to us that tomorrow may be a day that both our stocks will pop.
CAT: Caterpilar "The Worlds Biggest maker of construction machnery saids its machine sales jumed 37% in June-Aug vs. a year earlier. Source: IBD." due to this news CAT has had a great run and it's breaking out today on a 1month chart. The stock seems to have follow through volume to support this breakout which is why I like it.
TLEO: Yes Taleo has a 347 PE (Tech Bubble Status!), but thats the reason why everyone is playing this stock. The price action looks good and people want in on stocks that are going up. To support my statement, just look at the volume, it has been flooded in the past two days (buys want in!).
Tomorrows Top 2 Picks
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.