I added (ACM) to my portfolio today. This stock comes from a weak group (builders) but it's an infrastructure play. I like the chart a lot, it's had heavy accumulation the past 4 weeks or so. It's close to a 52 week high and after that an all time high, and it IPO's within the past few years which is also good.
On the downside, I probably bought a little high. IBD described the ideal buy point at $27.30 based on a cup with handle pattern. If it did form a handle, it's flawed. I actually think this stock can be purchased when it clears the whole cup pattern at $32.51.
Once again the market had an alright day, down but on lower volume and the volatility seems to still be easing down. The holidays might help that to come back to normal levels.
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Rule of Three's
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When I first started to seriously invest I thought that the only thing that
you really needed to do to be successful was pick a great stock and let it
ride...
16 years ago
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