Markets began the holiday shortened week with the Nasdaq leading the way as it has for sometime now. It came in up 1.6% for the year and tacked on another .7% today, outpacing the S&P 500’s .2% move. It is inching closer to the UNCH line as it is now lower by .3% in 2014. More M&A activity continued today with FRX being swallowed by ACT. Both names advanced handsomely. Not surprisingly healthcare was among the best groups Tuesday. Other names in the group that moved higher today were GILD SLXP MYGN to name a few. Other individual names in the news were TSLA. TSLA the leading car maker is looking to be higher for the 6th consecutive week. It took out the round 200 handle on a closing basis today for the first time hitting an all time high. TSLA took out a 186.10 cup with handle trigger on 2/7 and has not looked back since wildly outperforming the likes of F GM TM HMC. On the flip side KSU proves the theory that there is always more than one cockroach in the hotel. With todays 4% loss it is on track, pun intended, to record its 7th down week in 8. KSU fell 15% on 1/24 after reporting earnings. It is always a good idea as well to keep an eye going forward on names that perform well when an overall sector does not. The building group reported some disappointing data this morning and many in the sector fell. WLH failed to get the memo, and the recent new issue rose a smart 3% hitting an all time high. It took out a long deep cup base trigger of 28.09 that began with its first day of trading on 5/16/13 on Friday on huge trade. WLH has been up 8 of the last 9 weeks many in firm trade.
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