Playing Offense With Some Defense

I don't know if these names were one day wonders or if there are more good things to come. Certainly they had a nice day today. The charts look pretty nice and volume has certainly been picking up. I wouldn't chase, but they should be on your radar. I traded RTN for a nice gain but really didn't do much else and it was my lowest volume day in a year. Mike Mayo came out negative on the financials and he is a respected name, but Meredith Whitney, who spoke later on CNBC didn't seem as near term negative, although she did say be careful after the financials report earnings. I agree with her thinking and her timing in that regard and think the shorts will be spectacular.

The bulls pulled a stealth rally today and the day goes to the bulls I think, even though the market closed down.

Raytheon RTN

RTN I would be looking at around $63.75 as an entry on volume in the 4mm share range. It topped out in late December around $65.94. It then found support at the $60 level.It's been building a base between 60 and 65 and now has the potential to move higher. Some resistance around $65-65.94 but above that could breakout from a 4 month base pattern. Target $69