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Is Costco (COST) the new hot stock?

Adam Hewison - MarketClub

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Could Costco (NASDAQ:COST) be the new hot stock for investors? Facebook (NASDAQ:FB) still looks good and has all three Trade Triangles positive, suggesting that this stock is in strong hands. Yesterday, Tesla�s (NASDAQ:TSLA) earnings created a short-circuit in many investors� minds, causing the stock to drop 14% today. In addition to these stocks, I�ll also be covering the major indices, gold, which gave a short-term buy signal today, crude oil and the Dollar.

COST � The New Hot Stock?

Costco (NASDAQ:COST) is a classic membership model, as it makes most of its money from its annual memberships. Costco works on razor-thin margins and is more interested in getting more members to buy more things from them. Technically, this stock looks very good and seems poised to move to the $130 level. It�s not sexy like some of the tech stocks and that�s the point, this is everyday stuff that Americans buy and need at bargain prices.

I Still Like Facebook

I still like Facebook (NASDAQ:FB) and with three green Trade Triangles in place, what is there not to like? It would appear that we are setting up a positive divergence for Facebook and will go through that in more detail in today�s video.

Tesla Blows A Fuse

Despite today�s sharp downward move of over 14%, the long-term monthly Trade Triangle remains positive for Tesla (NASDAQ:TSLA). I have been on the sidelines based on the intermediate-term weekly Trade Triangle and see no reason to try and pick a bottom in this market. Longer term I still believe Tesla will go higher, but for now it�s going to have to have a mechanical rebuild.

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