The proposed budget talks on Capitol Hill are dominating the news headlines, but in the pits, where stock price matters, a handful of stocks are being watched closely. Quite often investors become distracted by a headlines offered by the media, and when the Government is involved some investors actually get frozen in their tracks, but this time the talk on capitol hill is actually something main street seems to embrace.
Main Street wants the government to get out of the way, and reasonably so does corporate America, but if the Government does get out of the way will that also opened the door for tapering? More importantly, if it does open the door for tapering well it also allow a tapering schedule that is almost surely to be associated with the first round of tapering to be more aggressive than it otherwise would?
The answers to the above will come over the next week or so, but between now and then the stocks featured below may have already moved. The stocks were found using the real time stock filters at stock traders daily with focus on longer term trading plans. Most of the stocks listed below are testing resistance, and only one is testing support, a ratio we would expect given the proximity of the market itself two relative highs.
The following stocks were featured prominently in my stock filters this morning. Please click any of the symbols and open the longer term trading plans for details.
Resistance: At or very close to longer term resistance | |||
Resistance: At or very close to longer term resistance | |||
Resistance: At or very close to longer term resistance | |||
Resistance: At or very close to longer term resistance | |||
Support: At or very close to longer term support | |||
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: These alerts came from our real time stock filters.