First, HPQ (Hewlett-Packard Company) HPQ belongs to a strong industry group, has strong technicals and strong Relative Strength vs the SPY. HPQ also has a Very Bullish Chaikin Power Gauge rating, which is based on several fundamental factors. One of fundy's that drives the Power Gauge ratting is expert opinion, which HPQ is rated very strongly. Money flow has been mixed, but the long term Chaikin Trend is up, and price is above the trend line, as the Overbought / Oversold oscillator approaches Oversold. We entered this as a bullish trend trade and will set our stop loss 3% below support, and let this one ride. See this trade here.
Our second trade of the day was NSC ( Norfolk Southern) NSC belongs to the rising XLI ETF
(Industrials) which, as we mentioned above is outperforming the SPY measured by the Bull vs Bear ratio seen here. While NSC currently has a Bullish Chaikin Power Gauge rating, NSC recently broke out on good volume. NSC belongs to a stung industry group, which it has been outperforming and possesses strong technicals. Price is above the Long Term Chaikin Trend, while the Overbought / oversold oscillator is currently rolling back up out of oversold. Relative Strength vs the SPY has been very strong over the past 6 moths, even as it has weakened a bit as of late. We entered this trade as a bullish trend trade, so we will set our stop 3% below support.