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Minyanville's T3 Weekly Recap: Leadership Is a Sign of Healthy Bull Market


Traders who have been obeying the trend and price action have been rewarded; stubborn shorts have been run over.

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US markets finished in positive territory Friday despite a weak jobs report before the open. There is a strong bid in the market right now, and even weak data is being met with buying as investors anticipate further easing from the Fed, especially in light of the ECB's decision to start bond purchases on an as-needed basis. The S&P was the strongest index, finishing up 0.4%.

During the last two days of this week, we saw big moves in a number of stocks on our radar. The big three in tech -- Apple (AAPL), Amazon (AMZN) and Google (GOOG) -- all made new all-time highs, which is something positive you like to see in a bull market. We also saw several laggard-type plays perk up like Chipotle (CMG) and Lululemon (LULU). LinkedIn (LNKD) also made a new high and is the clear best in breed social media stock.

All in all, traders who have been obeying the trend and price action have been rewarded, while stubborn shorts have been run over. Based on the recent action, dips will be buyable for the foreseeable future, and it is prudent to follow this upward trend.

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Marc Sperling is long PCLN, V, MCP, EXPE, AAPL, MCP calls, RL, DNKN, ISRG, AIG, LVS, JPM, AAPL calls, MA, S, FIO, DRYS calls, ANTH, DRYS, AIG calls, EXPE calls, TSPT, MSFT, SLV calls, CMG calls, LULU calls, LNKD calls. Short SPY.
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