Take These Two Long
The inability of the S&P 500 index to rally from its perch above key support and its 200-day moving average is cause for concern going into Friday's close. For those traders who share the same degree of conviction as the broader market, I have two short-term momentum plays.HCA Holdings (HCA) -- Daily Source: StockCharts.com View Chart »
The first is HCA Holdings (HCA), which operates a range of health care facilities, including, hospitals, diagnostic and imaging centers, and surgery centers. Since it began trading publicly last March, HCA has underperformed the SPDR Select Sector Health Fund (XLV) by 20%. The stock dropped sharply the following July, losing more than half its value in a month, but was able to hammer out a triple bottom above $17 and break out of a basing formation in October. It has since outperformed the XLV -- currently by more than 10%. Last month, the stock drifted back down to the base breakout level in the $20.50 area, and looks like it is preparing to break out again from a smaller consolidation....276 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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