Outback: Australian for Ignoring Del Frisco's Selloff

Bulls are putting an exclamation point on the trading week, with the Dow up nearly 400 points as I write this. Leaders like Netflix remain seemingly invincible, and even troubled names like Wynn Resorts are enjoying a reprieve with bears back up against the wall, yet again. 

That said, the action beneath the surface could be better--and probably should be--given how much the indices are up. 

Hence, we must stay precise with our ideas and analysis.

As an example, the South/Latin American airline bull thesis we noted yesterday quickly took up with AZUL and GOL screaming higher today. Another airline down there is AVH out of Colombia, but they have earnings early next week. Still, there are some other airlines in that continent which we noted for Members and are worthy of our attention. 

Another sub-sector to watch into next week would be the steakhouses, even with high end chain Del Frisco's getting pummeled after earnings this week. 

In fact, Bloomin Brands, which owns not only Outback Steakhouse but several other intriguing brands, is acting extremely well on its daily chart, below. BLMN sure looks viable as a long idea into next week as long as $24 holds as support now. 

By all accounts, Outback has made serious improvements to its business model in terms of integrating apps and curbside takeaway options for customers. And I still think their Bonefish Grill and Fleming's brands have some good growth ahead, too.