Joining GILD in the overbought profit-taking sweepstakes are RIO and AXU, as the need to be in balance – complete with strengthening USD positions* – and profit retention are priorities.
RIO has done its job in kicking off a dividend and a nice profit. It actually targets much higher levels by bigger pictures charts per the original update, but the daily is getting overbought and I’d like balance. Profit in hand = 2 in the bush. The long-term stuff could be out to next year.
Otto at IKN asked me to take a technical look at AXU (he liked the funda and I liked the chart’s rounding bottom). He did not buy it (that I know of) but I did, and have been charting it in NFTRH since he called it to my attention. It has provided a 26% profit way too quickly.
* I think it is curious that Uncle Buck did not cave on the poor jobs number. Hmmm…
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