Celgene (CELG) Breaks Out to the Upside Once Again

After digesting the big gains made earlier in the year, Celegene, a NEW America folio position,  has broken out to the upside once again. This is one of my top high conviction picks. It currently represent 25% of the New America folio. As I write it is up another 1.47%.

I have been carefully and methodically adding high conviction positions to GWM Model Portfolios.

(click on chart for easier viewing)

Celgene Chart

The recent tight price pattern in Celgene
tells me that institutions are providing good support
for this stock.
The big boys seem to have a methodical  and continuing
buy program  in place. This is something I look for.

Even after a nice bounce the market remains vulnerable to political headline news, so caution is still the word of the day. At the moment Investor's Business Daily still has the market condition labeled as  "Market in Correction". A mostly defensive posture is still appropriate. It's not time to back up the truck yet.

Market Snapshot

02/28/2013

The Market Snapshot is depicting indecision on the part of investors.
There is a stalemate standoff between the Bull and Bears.
It still could go either way. 

This blog post does not constitute an offer of investment advice. This blog is only provided for educational purposes. Please read the Important Blog Disclosure posted in the right channel bar.

Five Below ( FIVE) - A GWM New America folio holding

Five Below is a new GWM New America folio Position Business Summary   Five Below, Inc. operates as a specialty value retailer offering merchandise for teen and pre-teen customers in the United States. The company’s stores offer approximately 4,000 stock-keeping units across various product categories, including style, room, sports, media, crafts, party, candy, and seasonal. As of October 27, 2012, it operated 243 stores in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Massachusetts, New Hampshire, West Virginia, North Carolina, New York, Connecticut, Rhode Island, Ohio, Illinois, Indiana, and Michigan under the name ‘Five Below’. The company was formerly known as Cheap Holdings, Inc. and changed its name to Five Below, Inc. in July 2002. Five Below, Inc. was founded in 2002 and is headquartered in Philadelphia, Pennsylvania.

Up, Up & Away in 2013

Up, Up & Away! If February Finishes Positive, 2013 Will Be a Huge Year: Stovall

Click the link below to view this brief video on Sam Stovall' s outllook for the market this year.

Pasted from <http://finance.yahoo.com/blogs/breakout/away-february-finishes-positive-2013-huge-stovall-121953812.html> 

I have moved to all cash in all GWM accounts

The market is following through to the downside today. In order to preserve capital I have moved to all cash in all portfolios.  I can always get reinvested if things change. For now I prefer to remain safely on sidelines.

Nasdaq Composite Index Chart

Major Sell Signal

Sell signal generated yesterday.
(Red line = 5 bucket skip down)
Expect market turmoil

Market Gets a Major Shot Across the Bow

The minutes from the Fed's January meeting showed many officials voiced concern last month over potential costs of more asset purchases, suggesting that the program, known as QE, may slow before the pickup in hiring it was intended to deliver. This news was the primary catalyst for today's sell off. The market still seems dependent on a steady flow of money from the Federal Reserve.

Big volume selling was extremely strong across most markets. This generated a sell signal in our market direction model. It's been a great run, but it was getting a little long in the tooth.

Market Snapshot

Market Gave Up Ground Today

Market Direction Model

Market Under Pressure

Chart View

Nasdaq Composite Index

Bearish Move

The late day sell-off was rather unexpected today. But it is what it is. The depth and breadth of the move is a real reason for concern. We had multiple blips of bad news as the day wore on. Furthermore, sequestration is now going to begin dominating the news. I will move to cash in a big way tomorrow. 

This blog post does not constitute an offer of investment advice. This blog is only provided for educational purposes. Please read the Important Blog Disclosure posted in the right channel bar.

Celgene (CELG) jumped 3% in firm trade GWM Core Equity folio Holding

Celgene (CELG) jumped 3% in firm trade after announcing an accelerated share repurchase agreement with an investment bank to buy $600 million of the company's common shares.

Read More At IBD: http://news.investors.com/investing-stock-market-today/022013-645044-stocks-start-lower-in-weak-trade-wednesday.htm#ixzz2LSX31nOV
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Lumber Liquidators (LL) Beats Earnings Estimates GWM New America/New Economy Holding

Lumber Liquidators Holdings, Inc. (NYSE:LL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.64%.

Market in Confirmed Uptrend