Wednesday, October 13, 2010

Discover Financial Services (DFS) Breaks Out

TweetThis
Aside from CB Richard Ellis (CBG) the other stock whose chart I was salivating over yesterday was Discover Financial Services (DFS).  I like these sort of chart formations rather than the "buy high (at any price, no matter how overbought) and sell higher" greater fool, momentum trading that now dominates.   DFS has a very similar set up, but a smaller base and more of a slowly trending up move rather than a long sideways base to break out of.  However, I wanted to see a move over recent highs i.e. over $17.20.  That did *not* happen yesterday... unfortunately it happened today, but in grand fashion and has already made a big jump.  Now I have to consider whether to chase a stock up already 5% in today's session... (I know, I know - the answer is "of course, because it can only go up from here")



Long CB Richard Ellis in fund; no personal position

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012 FundMyMutualFund.com