Time To Go Shopping For Discounts

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The first thing most readers will think is that this another ‘buy the dip’ article. I cannot say that it is time for that yet in the broad market. Or that it will be time at any point in the near future. But what I do see is that some stocks are not only holding up with all the market pressure, but thriving. And one of them is TJX Companies, $TJX.

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TJX, the parent of TJ Maxx, Marshalls and Home Goods, held in a tight range over 58.60 as the pullback in the broad market began. And as the calendar turned to October, it actually started moving higher. Thursday last week it touched the prior from March briefly but it sets up for more upward price action. The Bollinger bands are opening higher. The RSI is in the bullish zone and the MACD just crossed up and is rising. So for TJX at least it is time to shop for a bargain.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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