Thursday, January 23, 2014

High Volume High- Jan 22 Trading Day Edition

Surprisingly, the number of names making new highs, on volume, does not match the the total price/volume characteristics we saw in the latest price/volume heat map. I am not sure if this means anything but it does stick out as odd. Looking at the names here, TXT stands out to me as having some interest. The entire/,ost of the aerospace/defense complex caught a bid in yesterday's trading, which could account for traders piling into TXT. I say this as the company released earning yesterday that were more-or-less inline with the Street's guess with guidance for 2014 that was short of estimates. Investors must have seen something there below the numbers, as the shares of TXT blew through the trading resistance that had been set up. This is one to watch in my mind.

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