Alert - FLIR

FLIR

6/16 Close…

Though we could have opened a new position today in FLIR, we decided that the action into the close wasn’t what we wanted to see after that big lot surge around 2 PM.  In this market we’ll remain cautious and wait for the good confirmations and/or consolidations.

We like consolidations into support with bounces off significant support levels much better in this kind of market than confirmation breakouts.  BO’s in a bear market usually fail, and although the recent consolidation in FLIR is what we look for, there is usually a period of churning along the tested support line before new strength is revealed.  We’re looking for that here.

Coach BD

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Weekend Watchlist Note…

One positive note. We like the recent price action on FLIR and will be looking for a confirmation of Friday’s big volume move back above its 20-Day MA and a continuation of the stock’s steady upward movement in this otherwise weak market.

This may be a good new opportunity when there aren’t many out there in this environment.

Coach BD