Well, as we come into the final trading week of September 2016, it’s a bit of a mixed picture when it comes to stock picks. While stocks are higher than they were last week, Friday’s close wasn’t exactly inspiring.
Either way, there are still a few stock picks that are on my horizon. And it pays to be ready in case we’re off to the races next week. Given broad market strength, I might take action on some of the picks below. Take a look…
Stock Picks For September 2016 (Part 3):
The first stock pick to end out the month is CBOE. I recently analyzed CBOE on Seeking Alpha, and you can read the whole article for free to get a lot more detail on this company. So here’s how I’m currently managing my recently initiated CBOE position using a weekly chart…
I’ll be encouraged if CBOE can continue to move higher next week. However, there’s always the chance this could be a fake-out, which is why a stop loss is important. If CBOE can keep pushing, I’ll be curious to see how it acts at prior highs.
Another stock that’s approaching prior highs and has my eye is ROST. The two reasons ROST is appealing to me right now is because the stock put in a higher low, and is now moving higher. Second, the stock closed the week out very strongly. On Friday, when the vast majority of stocks were heading lower, this one closed at the highs.
Now, while ROST and CBOE show some good stocks that are making a push at new highs, there’s one other stock already breaking out to all-time highs. It’s quite widely watched, do you know what it is?
I’m afraid to admit that I don’t own any AMZN right now in my trading accounts, but the stock is certainly performing very well. And valuation aside, I might initiate a small position if it can keep moving higher.
So there you have it, there are some stocks I’ll be watching heading into the end of the month. I’m interested to see how the market as a whole holds up and whether we’ll start seeing more breakouts on longer time-frames.
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