Yesterday, I suggested that this rally was unlikely to retrace much ground and give buyers an attractive entry point. I went on to recommend a position in homebuilder Hovnanian Enterprises (NYSE:HOV).
Well, today stocks are pushing higher and Hovnanian is up 20% from yesterday’s closing price of $1.52.
Graham Corp (AMEX:GHM) is pushing higher, too. It’s up 7% today and 13% since last Thursday’s recommendation.
*****Durable goods came in better than expected this morning. It seems as though we have entered a positive news cycle that will keep stocks in rally mode. The S&P 500 could be headed to 900, adding another 80 points in short order.
*****The TradeMaster Daily Stock Alerts video conference airs tonight at 6 pm ET. There’s still time for you to register for this event. Click HERE for details.
*****Finally, it’s Newsletter Advisor Wednesday. This week, we’ve got an interview with Coby Lamson of Coby Lansom Capial Management. Enjoy.
That’s it for today. I’ll talk to you tomorrow.
Investment Expert Insights- Interview with Coby Lamson