Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Things I Didn’t Like About Today

|Includes:DISH Network Corporation (DISH)
  1. Sell off on what the media portrays as “good news”.
  2. Individual stocks in my watchlist behaving poorly
  3. Stocks I own performing just plain bad
  4. One quality breakout added to my watchlist (see chart below)

Volume was lighter on the Nasdaq, so that’s a plus as there was not a distribution day. Volume on the Dow was very light.

Earnings winner EchoStar (DISH) – had a massive 20% gain as it broke out of a unusually large 18 month cup with handle. Using the base- confirmation line measurement, this will should easily get to $32 before some consolidation, but may have some problems if the overall market pulls back some. It basically did a weeks worth of volume today.

 

Stocks: DISH