Well, here come the bailouts.
The world didn’t end and now we know why. All of the suffering institutions are now being saved.
And this brings out a lot of strong emotions from people.
On one hand, bailing out the banks ostensibly saves us all from a terrible crisis.
On the other hand, “Um, why are we bailing out these idiots who were so careless with our money??”
It’s a tough situation.
But it makes the market go up.
Last time we talked about Advanced Micro Devices (AMD). It has blown past our $88.95 trigger point and is now trading over $96 (a 7% gain).
AMD is in a hot sector and the “good” news about bailouts is causing it to soar.
Are there any other hot sectors to look at while the market is feeling giddy?
Yes, apparel. And we’ve mentioned it before.
While not as red hot as it was, apparel stocks are still doing well and On Holdings AG (ONON) is near a possible breakout point:
A move above $24.11 on this recent IPO could lead to a big move.
Especially if the banks have regulators holding them in their comforting arms.
Happy trading,
Scott
