A Pair of Bullish Charts

Earnings after the bell today will be insanity, which I've dubbed "earnsanity." (I welcome everyone to yell at me loudly one time since trying to dub anything in this market just seems silly.) Today's earnings trades got off to a much better start, and I'm not shy about taking profits quickly and getting my capital risk out of the market. I did that by selling two-thirds of my 3M (MMM) and Akamai Technologies (AKAM). Taking out MMM allowed me to take out twice the capital I risked in the trade, while the AKAM selling removed all the capital I originally risked. Therefore, I have removed all my original risk capital from both these trades plus booked a profit, and I still have positions open. This is in stark contrast to my earnings trade the previous day, where HomeAway (AWAY) was a complete bust.

Popular (BPOP) Source: StockCharts.com View Chart » View in New Window »

I hate buying a market that's up five days in a row or far off recent lows, but I still have to look for bullish charts. For instance, foreign banks aren't exactly on my radar, but Popular (BPOP) is taking a third crack at $29.50. A close above that puts previous resistance into a new working relationship as an area of support. MACD is crossing over in a bullish fashion and a Relative Strength Indicator (RSI) above 70 should seal the deal for the bulls. I only want to buy this on a closing basis....106 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.