NMX Makes a Higher Low, SFLY Breaks

In one of my last blog posts, I mentioned that NMX was floating around looking like it was headed towards support at 118.50ish. Well it did float around, but has now formed a higher low and looks to be pushing hard to the upside. From here it is almost assurred to get to resistance at 142.50, a good 4.5% move. This may not seem like much but I believe there is more to meets the eye here. This run could be the one that gets NMX out of its broad range and moving much higher. That said, I believe NMX is a buy right here at current levels around 136. I'd pick away at it as there might be a bit of weakness after two days of strong upward movement.

Oh and NMX is a buyout candidate. Remember that? Yeh, it's what almost lead to a breakout last time around.

SFLY, a stock I've mentioned on here before and have been watching closely, is now ready to make a move higher. It has been consolidating around its middle bollinger but made a strong 4 percent move up today. It, like NMX, is also a buyout candidate adding to the attractiveness of this stock at current levels. I'd put on a position right here at around 23 bucks.

That's all for now. I'm off to the beach for the weekend so I doubt I'll be blogging much in the very near future.

CM