- Anytime a near 30 year member of the board of any company makes a purchase in the common stock it is worth noting. In this case, it was Bruno Di Giulian, a member of the board for BBX, which is one and the same with portfolio holding BFCF due to their impending merger. A purchase for nearly $50,000 took place last week. A relatively paltry amount, but nevertheless notable given where the company has been and the history of Mr. Di Giulian with BBX/BFCF.
- I don't want to sound like a broken record, but I suppose I am a reflection of market conditions in 2013 which have been very repetitive in nature. There is nothing to dislike about the current market structure from a technical point of view. It is brilliant in nature and portends higher prices going forward. The Nasdaq Composite being an important leader of the bull movement is especially well put together here.
- The Dow Transports are another leading index that is doing nothing but putting out a fantastic set of rhythms for investors to dance to. If you choose to be a wallflower when such music is playing that is a you problem.
- The Facebook, Yelp and Tesla complex continues to be uninspiring in nature. I don't see much up in the immediate near term for these names. The downside will likely be tempered as well given the strength of the general market that should persist in December and throughout January. Q1 of 2014 should see a change in behavior for the better here.
- The Nasdaq 100 is an index I have been referencing for its leadership qualities over the past couple of months. It continues to have tremendous technical prowess, as it is one of the stronger averages here. I'll go over all these technical points in the chart review coming later.
