This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Strength Continues Monday for S&P 500 and for Leading Stocks

"No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation." -- Robert Rhea

NEW YORK (TheStreet) -- Strong and very constructive action continued on Monday with some leading stocks really moving and breaking out and the S&P 500 (SPY)SPY up.

Biotech and healthcare remain the place to be -- and I am there.

Read More: 10 Stocks George Soros Is Buying

I've upped my position weighting to medium now, as we look to have lows in place and the markets are looking really great.

I did place a few buys today, but those are always reserved for subscribers.

Stops are in place, just in case, but we should see strength continue if the recent action is for real.  If not, I'll go back to cash and wait for the next buy points.

I've got a lot of charts to look over tonight, so let's quickly look into the S&P 500 chart.

This has been a solid day, even though on lighter volume than what would be considered ideal.

It is summer and August after all, so many traders are away. That contributes to lighter volume.

Read More: Why Home Depot Remains the Retail Sector's Best Bargain Stock

The SPY ETF is now near $198 and could do a little sideways dance. That would be fine, but the most important thing is to see leading stocks leading the market higher. They are -- in a big way.

Enjoy your evening.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
SPY $211.65 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs