Top Stocks to Buy according to an interesting interview with Stephen Auth, the investment officer at Federated Investors
Another day of solid buying and the sharp increase in housing starts gave the homebuilding stocks a boost, which helped the overall market. The A/D lines for the NYSE Composite, S&P 500, Nasdaq 100, and the Dow Jones Industrials have now broken their downtrends. Maybe the Wall Street pros realized that too many of them were bearish or cautious on the stock market and started buying.
The A/D line on the Nasdaq 100 has confirmed the new price highs as the PowerShares QQQ Trust (QQQ) is now close to monthly projected pivot resistance at $99.27 and its daily starc+ band. The McClellan oscillator has risen to +195, which is the highest reading since February 18. The oscillator action is likely a sign of strength so a pullback is likely to be a buying opportunity.
So what should one be buying?