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Daily Archives: March 23, 2009

Allegiant Travel: A Great Young Growth Company

March 23, 2009
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Allegiant Travel: A Great Young Growth Company

Moving on, today the market gave us a huge rally, ostensibly because of Treasury Secretary Tim Geithner’s plan to remove hundreds of billions of dollars of toxic debt from bank balance sheets.  To me, the reason for the market’s strength is unimportant (see Rule #2 above).  To me, only the charts are important.  With this advance, we now have seven consecutive days in which the number of stocks hitting new lows on the NYSE has been fewer than 40. We also have numerous major indexes whose intermediate-term trends are poised to turn from negative to positive.  Coming off a...

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Want to Get Away? Take a Staycation with These Stocks

March 23, 2009
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Want to Get Away? Take a Staycation with These Stocks

Now on to specific stocks, and the current market environment. As you know, the market’s been acting well for the past week or so, with the major indexes rallying after a terrible February and early March. By my measures, the market’s overall trend is still down (though barely), so I’m content to wait for our indicators to turn up before plunging in. Thus far, most of the action has come from the off-the-bottom stocks. You know what I mean–the stocks that fell from 70 down to 8 and have now rallied to 13. It’s something that needs to happen...

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