Since last time, we’ve seen, um, a little bit of bank news.
Holy moly.
Every day it seems another bank is failing, being bailed out, or being worried about.
And every day it seems the market is petrified, relieved, or confused.
Are we going into a major banking crisis or not?
It appears the crisis will be contained, but it won’t come without violent swings day-to-day.
Where does that leave us?
With sore necks from watching the market’s wild up-and-down fluctuations.
But it also leaves us with some stocks quietly breaking out during all the madness.
While no one’s been looking, one of the hottest stocks in one of the hottest sectors broke above a level we discussed.
Racing giant Churchill Downs (CHDN) broke above $249.35 and is rolling as of this writing:
If it stays above the moving average line and breaks through to new highs, it could run a long way.
And its cohort, Boyd Gaming (BYD), might not be far behind:
We’ll keep an eye on it.
Happy trading,
Scott
