Market Uptrend and JAZZ Pharmaceuticals Pivot Point and Trade Idea

From the floor of the CME group in Chicago George Tkaczuk, Senior Portfolio Manager at RCM Wealth Advisors talks about market uptrend and what he suggests for Jazz Pharmaceuticals (JAZZ). The equity markets are soft but to the upside. Economic data such as ISM manufacturing and non-farm payrolls support the markets move. Tkaczuk's favorite growth stock right now is JAZZ. JAZZ has had a great run from 2009 lows at $.80/ share to $176/ share in February, and last Thursday broke the $156.40 pivot point. He would buy from the pivot point $156.44 to $165. The company is expanding after their acquisition of Gentium and has expected 5-year growth rate of 79%. In the next three quarters earnings are expected to grow past 30%, with revenues growing in line as well. The correction gives investors a chance to buy, with a stop of no more than 8-10%.

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