Moving Into Hotels
When I started in this business, one habit I picked up from my coworkers was the ritual of sifting through charts after the closing bell. Every day, after inspecting profit-and-loss blotters and checking paperwork, four or five of us would gather around a desktop computer as a program ran through every stock on the S&P 500. Every 10 seconds, a new chart would appear, and our little group would comment and take notes. Today, I still scan after the close, though I vary the routine to keep things fresh.
Yesterday, I realized that several stocks in the hospitality industry were showing a similar pattern, which is not unusual. What struck me were the subtle differences among these names and a possible trading opportunity that arises from those differences. In each case, important trendlines were broken and key moving averages were temporarily violated. Is this a chance to buy on weakness, or should we sell into strength? Perhaps there is a third option....351 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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