Almost all stocks followed the market lower when it went under pressure in late January. But as often happens in corrections, leading stocks tend to firm up before the rest of the market and start making higher highs. When I survey the market I see a lot of stocks acting pretty strong and that’s a sign this market correction may be winding down. After going to cash in late January I’ve been buying stocks like FND below that have been rejecting the latest pullback in the market and outperforming the major indexes. An even more ideal note on this stock is that it is making new all time highs with no overhead resistance.
Disclosure: I am long shares of FND.
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