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Strong Uptrend In Arrow Electronics (ARW)

Posted On : May 8th, 2012 | Updated On : May 8th, 2012

If you follow me on Twitter/Facebook then you already know, in real time, when I bought this stock for my own personal trading account last week. It did a 61.8% Fib. retracement after a big move up on an analyst upgrade. The profit thesis for this trade has two parts: 1 - the strong uptrend in ARW will continue, and 2 - the strong uptrend on the Dow and the uptrend on the S&P 500 will pull the Nasdaq (sidelines rating) and Russell 2000 (sidelines rating) up next week so we can nail our 5% or better profit. Below is the stock chart of ARW and what I like about it.

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