MCK (Long)...

Another day, another stock that gaps up huge because of earnings. Today, it's MCK. The setup should look very familiar by now. The high volume move above multi-month resistance at $46 (dashed purple line) bodes well for further upside in MCK, but as usual, it's too extended to chase right now. I'd love to see today's gap get filled, but I think the way to play this one is to start nibbling around today's lows (call it $50), but if that fails to hold, I think the stock will fill that gap. We'll stalk this one and see what happens from here. A yellow flag against this stock is the fact that it did not close near its highs. It's a yellow flag for now.



Position: none