We are receiving emails from a few members concerned about the price action in BLMN and DENN. This anxiety normally occurs at or near bottoms. There has been no negative news on either company and we encourage our members to read the recent news feeds on both. As recently as this week, there have been several purchases made by pension funds in both companies. These names are down based on the overall market sell-off post Federal Reserve meeting. The market has had a large move up from 18,200 DOW to 27,300. This is simply an end of the quarter profit taking event. Every tick the DOW moves lower, high frequency trading algorithms sell a basket of stocks, which include BLMN and DENN. They are smaller in size than Apple or Amazon and are more susceptible to volatility and price swings in both directions. We urge members who own either of these names to call shareholder relations. The number can be found on their respective websites. A large snap back rally is possible for early next week. We see weakness ending on July 2/6th. The low may have been put in today. After July 7th we see a strong bull period in the markets into August. We will identify the swing low for our members so they may add to positions. BLMN and DENN are far more oversold than the broad market and may bottom earlier.
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