Weekend Stock Reflections

Markets offered little inspiration Friday, or for that matter the whole week. The S&P 500 made it a perfect 5 for 5 Friday finishing lower everyday last week. For the week the S&P 500 fell 3.9%, and the Nazz 3.6%. The intraday action remains troubling with indexes falling late into the close. The one positive is that the S&P 500 did have a nice bounce off its 200 day MA Friday. Although it did lose its 50 day MA earlier in the week. The Nazz's positive is that it did rally 30 points off its intraday low Friday and found 50 day support. Action among leading stocks, a great barometer of market health, for the week was dismal. Weekly losses for former leaders this past week included BMC down 18%, ACOM 18% (did find 200 day support to the penny though), NTGR 18%, ILMN 16%, ITW 13%, WAT CHRW CLF all down 10%, MMM lower by 8%. EMN was also off 4% for the week, finding support right at its 200 day MA. Some positive earnings reactions Friday included DECK, which held its 50 day MA to the penny, and then flew toward par. EXPE up 9%, after finding support the day before ight at its 50 day MA. JAZZ was up 15%, CERN 7% as well on earnings Friday. A look at some important sectors, shows some concerns. The transports ETF IYT is at a critical juncture here. It lost its 200 day MA Friday, but was able to recapture it by the end of the day. FDX UPS both down 6% this week not helping the cause. XLB, a materials ETF, lost its 200 day MA Friday as well but managed to finish off its lows. The semi ETF SMH has looked horrible after losing its 200 day MA recently. Some in the sector are holding their 200 day MAs nicely however. XLNX ALTR. ARMH remains above its 50 day MA. Perhaps a pairs trade is in order against some of the laggards in the group. The XLF continues to find support around the 14.50 level, but I find this to be a contrarian indicator as the market has actually performed well as they sagged. Just a chart readers opinion as illogical as that may sound. Stocks still holding bullish gap ups in this anemic environment include AAPL AMZN JWN CROX TPX QCOR PM GOOG IBM BBG RRC. Among the companies we follow reporting earnings Monday are HUM before the bell, and HLF HUM OIS SM FMC PPO report after the close. SINA also reports Monday. For first time giving my top 5 plays for the week and stop prices down below.

Stocks offering specific buy points, and worth inclusion on your watch list until we see some market resilience are: Cup with high handles ANF 78.35, BBBY 60.65, NCR 21.07, WPRT 28.15, ATW 48.94, PXP 42.06, SM 80.91 (reports after the bell Monday). Double bottom with handles are EBAY 35.09, NKE 94.33, BEXP 34.03, EXXI 35.46, NBR 27.73. Cup with handles are DFS 28.02 (cup dates back to its IPO ON 07/06/07 on its weekly chart), JOYG 101.54, PXD 99.74 RIO 74.10. Cup bases are APC 85.60, CHK 36.05. 3 week tight pattern is SBUX 41.00.

Stocks near 50 day support are AN 36, BBBY 56, KMX 30.95, MCD 83.85, PAG 21.45, KO 67, CHKP 56, POL 15.05, MTZ 19.95, NSC 73.10, ACN 58.10, MON 70.70, POT 56, WPRT 24, PTEN 30.75, ROSE 49.75, WMB 30, SLW 34.60, ABX 46.05, GILD 41.05, SWKS 24.20, PENN 40, HSY 56. Stocks that found 50 day support Friday were ANF CHS DRI DLTR M TIF TSCO COH UA WYN WPI R KSU SINA IP VCLK SQM GS GSM CMI APA CRZO CVX EXXI ARMH SCCO WCN. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are JBHT 46.25, CCK 38.75, SOLR 14.25, WLK 53.50 (earnings before bell Tuesday). ARBA LYB both retook their 10 week MAs Friday.

Stocks near 200 day support are EAT 23, FAST 31, FL 20.05, YUM 51.50, HNZ 50.25, LVS 44.35, CELG 57.95, XRAY 35.95, MYL 22.30, ABV 29.40, INFA 48.30, NUAN 19.10, SIAL 66.05, CMCSA 23.30, QCOM 53, TWC 70, EMC 25.15, ROP 79.80, BX 16.05, ABB here, AME 41.10, CXO 91.40, COP 71, XOM 78.65, ALTR 40, GPC 52. Stocks that found 200 day support Friday were TITN YUM BDX VPHM WLP ZMH CSX SWI DD UTX CAT UPL XLNX ALTR. Stocks that can be shorted at 200 day resistance are CAKE 30.30, BID 44.10, CAR 15.60, ORCL 31.90, APD 90, VMED 27.90, HON 55.10, JBL 19.05, MOLX 24.60, ADP 49.90, DOV 62, TRW 54, SU 39.80, RIG 64, SMTC 24.30, WY 21. ANN DKS CAR DOW AGU KLAC all met 200 day resistance Friday. Stocks that can be shorted as they lose 200 day support and their sell stop spots are STJ 45.50, DD 51, BG 67.50, OXY 97.50, GG 47. KMX TYC OVTI all lost their 40 week MAs Friday. Put in a buy stop on MOS @73.50, as it retakes its 40 week MA. FTNT retook its 40 week MA Friday.

Stocks that can be shorted at 50 day resistance are ANN 27,COST 80.05, DKS 38.05, LTD 38.20, PETM 44.80, HRL 29.30, CHD 41, AET 43.50, AGU 82.10, BAX 59.50, ERTS 23.50, TIBX 27.55, ALB 68, SOA 22.50, CNI 77, VIAB 49.90, DIS 39.50, RAX 42, MCO 38, JPM 41.05, RS 49, DVN 80, MRO 31.55, AVGO 35.10. Stocks that met 50 day resistance Friday were LTD ICON CRL XRAY MYL PX BLL MS ATU BTU WLL CLF. Stocks that can be shorted as they lose their 50 day MAs and their sell stops are UA 71, WPI 65.80, DTV 49.60, CBS 27 (reports after bell Tuesday). Stocks that lost 50 day support Friday were CI AXP DISH MSI DELL ROP XOM KLAC.

Top 5 plays for the week. ALTR buy at 40.40, stop at 39.50 (200 day play). UPL buy here, stop below 46. UPL has closed within a 30 cent range everyday last week, garnering 200 day support in the process, amazing giving the volatility and weakness last week. ABB buy 23.75, stop 23.25 (200 day play). VPHM buy 17.95, stop 17.40. Earnings out of way and reclaimed 200 day intraday Friday. Short WPI under 65.80, its 50 day MA. That would undercut a long term secular uptrend. Stop at 66.60.

Good luck.

We added some SDS for protection Friday as it took out its 50 day MA on enormous volume.

The author owns DE FCX WNR WOR SDS.

Thursday Recap

Markets again displayed bear market action, opening well, then closing hard upon their lows. The S&P 500 under performed once again, losing its 50 day MA. It also is now on a 4 day losing streak. The Nazz found 50 day support today, and just barely eeked out a gain. A look at some ETFs, namely SDS VXX, are both right up against 50 day resistance. A look at those charts look like they are rounding out a nice bottom. Not particularly good news for indexes. Delving further into some charts, which this week have broken long term uptrends, are CAKE CHRW HON MMM PKI TKR ITW PH ROK FCS WY. All former leaders that have lost their 200 day MAs. To look on the brighter side some leaders that have gapped up recently and are still holding those moves are AAPL IBM BBG RRC PENN. Earnings reactions intraday were mixed with up moves from CAM 9%, COG 7%, CROX 15%, NBL 5%. Stocks moving lower today were WLL 9%, AEM 6%, TWC ROK 5%, CLF 4%. After hours movers on earnings were mostly lower. NXPI lost 11%, NTGR 10%, MSI 5%, ACOM 4%, EMN 3%. QLIK was up 6%, CHK 3%. Tomorrow CVX LYB WY report before the bell and AGP after the close.

Stocks that are showing specific buy points, but must be bought with caution, are: Cup with handles ANF 78.35, WPRT 28.15, ATW 48.94, CVX 108.95, SM 80.91. Double bottom with handles are NKE 94.33, BEXP 34.03, CXO 99.57, EXXI 35.46. APC 85.60 in a cup base, and NBR 28.60 in a double bottom base.

Stocks near 50 day support are AN 36, BBBY 56, PAG 21.45, SBUX 38 (earnings after close), TIF 77, COH 62.40, CHKP 56, CE 51.75, POL 15, DFS 24.95, DISH 30, MTZ 19.95, KSU 57.10, CBS 27.30, ACN 58.10, POT 56, SIVB 58.75, BX 16.60, JOYG 91.50, KEG 17.70, BEAV 39, SCCO 33.85, SWKS 34.25, HSY 56. Stocks that retook their 50 day MAs today were FAST BWA. XRAY can be bought through 38.40, its 50 day MA.

Stocks near 200 day MAs are EAT 23, FL 20, PETM 41.30, YUM 51.50, WLP 67, ZMH 59, ABV 29.40, NUAN 19.05, SIAL 66, CMCSA 22.25, QCOM 53, EMC 25.15, CCK 36, UTX 82.10, ADP 49.80, SAPE 12.95, AGU 87, CAT 98, CMI 104.30, CRZO 34, COP 71, OXY 98, PXD 90, UPL 46.50, CLF 85, FCX 52.75, RIO 69, GPC 52. Stocks that found 200 day support are KMX TITN WDR SWI BG ABB ALTR SLW. Stocks that can be shorted at 200 day resistance are VRSN 34.05 (earnings after bell Thur), KKR 15.50, VMED 27.95, A 43.75, JCI 39, TRW 54. Stocks that met 200 day resistance today were ANN TXRH WRC CAR FTNT PPG DIS DHR JBL MOS TKR ROK. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are DKS 36.75, BDX 82.10, STJ 45.60, VPHM 17.70, LYB 35.75, WDR 36, KMT 38.50, WBC 59.60, XLNX 31.50. Stocks that lost 200 day support today were APD ATI DOV DVN SU OVTI. CTXS retook its 200 day MA today.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CHS 14.85, DLTR 65, BID 41.75, TSCO 64.10, CI 49.70, WPI 65.75, AXP 50.15, SUN 40.30. Stocks that lost their 50 day MAs today were CHD VPHM CMCSA AGCO MS WOR AME COP BTU CLF. Stocks that can be shorted at 50 day resistance are COST 80.20, LTD 38.20, CAH 45, FRX 38, TIBX 27.60, CSX 25.50, EXPD 50, PLCM 30, TDC 56.60, RAX 42, DAR 17.95, HES 74. Stocks that met 50 day resistance today were MW SCSS HRL AGN AGP BAX FRX MYL UNH CRM TIBX SOA FX RJF CNI SOLR JBHT CCK ETN JPM MTL RS ATU MRO.

Good luck.

The author owns FCX DE WNR WOR.

Wednesday After Market

Markets imploded Wednesday in big volume. How bad was it. Even Spam (symbol HRL) lost its 50 day MA. The Nazz managed to find support at its 50 day MA, but it looks tenuous. The Nazz torpedoed 2.65%. The S&P 500 was not as fortunate. It dove below its 50 day MA Wednesday, losing 2.03%. Obviously I am a stock guy, so I let charts tell the story. Forget the debt ceiling debate. The market is reeling because of other issues. The economy? UPS FDX CAT explain the economies weakness. Employment? Take a quick peak at PAYX. Chart disarray. Forget about the multitude of stocks losing their 50 day MAs, the list of those losing their 200 day MAs was astounding (see below). Leading stocks, a true barometer of market health were crushed today. Many were spanked on earnings new Wednesday. TUP lost 13%, ILMN 18%, JNPR 21%. After hours Wednesday other leaders continued to be assaulted. AKAM down 14%, CLF down 6%, CTXS BMC both down another 5% after having tough days Wednesday during the day. CROX was up 10%. AMZN managed to clear a short consolidation Wednesday on big trade after earnings. Other that performed admirably post earnings were TPX up 10%, QCOR up 25%. Earnings come before the bell Thursday from ADP BLL BWA BG CAM CELG XRAY DD XOM IP IRM MSI NBL PTEN RS ROK TWC TKR TYC VPHM, and after the close from ACOM ARBA CERN CHK EMN EXPE KEG KLAC MXIM MSCC NTGR NXPI QLIK SWN SBUX VRSN.

Stocks nearing 50 day support are ANF 71.50, BBBY 56, CHS 15, DRI 50.40, DLTR 65, M 28.80, SBUX 37.90, TIF 76.50, KO 67, COH 62.50, NKE 86, GR 92, CHD 41, HLF 55.50, EXPE 28.50 (earnings after bell Thursday), VPHM 18.60 (earnings before bell Thur), WPI 66, CHKP 56, CE 51.50, POL 15, DISH 30, MTZ 20, KSU 57, CBS 27.40, NCR 19, ACOM 40 (earnings after bell Thur), ROP 82, ACN 58, VCLK 17.10, AGCO 48.40, SQM 62, BX 16.75, GSM 22.10, WOR here, JOYG 19, NBR 25.75, WCN 32, HSY 56.05. Stocks that found 50 day support Wednesday were UA NFLX ALB AXP CMCSA UNP DIS DELL GS AME CRZO COP EXXI BTU SUN TCK WMB ARMH.

Stocks near 200 day support are EAT 23, FL 20, YUM 51.60, BDX 82.40, CELG 57.95 (earnings before bell Thur), XRAY 35.95, MYL 22.25, STJ 45.95, WLP 67, ABV 29.30, INFA 48, NUAN 19.05, QLIK 27 (earnings after bell Thur), PX 98, SIAL 66, QCOM 53, CSX 23.75, NTGR 35.10 (earnings after bell Thur), DD 51.50 (earnings before bell Thur), UTX 82, TMO 57, WAT 85, SAPE 12.95, AGU 87.50, ABB 23.60, CAT 98, KMT 39, CMI 104.50, CXO 92, DVN 80.75, OXY 98, UPL 46.50, SLW 36.10, BHP 91, CLF 85 (earnings after close Wed), RIO 69.10, GPC 52. Stocks that found 200 day support Wednesday were KMX TITN FTNT APD WDR SWI DHR DOV SU ALTR. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are DKS 36.70, ZMH 58.75, APD 89, LYB 35.75, ATI 60, BWA 69.75 (earnings before bell Thur), SU 39.50, OVTI 30, XLNX 31.40. Stocks that lost their 200 day MAs Wednesday were ANN CAKE BID WRC CAR BMC CTXS ORCL DOW PPG KKR RJF APKT AMT VMED CHRW ETN HON A JBL MOLX PLL ROK (earnings before bell Thur), JCI CAM (earnings before bell Thur), SUN FCS ABX SMTC. Stocks that can be shorted at 200 day resistance are ANN 26, CAKE 30.25, VRSN 34.10 (earnings after bell Thur), FDX 91.75, UPS 72, PKI 26, WY 21.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are BID 41.75, TSCO 64.50, CI 49.50, CERN 60.10, EMN 100.80 earnings after bell Thur), PPO 65, DFS 24.75, TWC 76.50 (earnings before bell Thur), UNP 101.25, BLL 38.50 (earnings before bell Thur), IRM 33 (earnings before bell Thur), BG 69.75 (earnings before bell Thur), BTU 57.75, TCK 49. Stocks that lost their 50 day MAs Wednesday were VAIB EMC PLCM TDC ETN DAR MS JPM ERTS NUAN TROW RJF JBHT CRL FRX HS MYL UNH WCG SCSS TXRH ICON CL AGN AGP BAX EAT COST FAST MW ORLY PETM RS ATU KMT BWA (earnings before bell Thur), WBC SOLR PAAS. Stocks that can be shorted at 50 day resistance are IFF 63, AGN 82.25, HS 43.90, STT 44, CNI 77, RAX 42.05, NUE 40.50. Resistance was found for LTD HNZ AET TIBX SOA MSI (earnings before bell Thur), CCK ADP (earnings before bell Thur), MCO MT RIG AEM.

Good luck.

The author owns FCX DE WNR WOR.

Tuesday Recap

Markets suffered another bout of late selling, classic bear market action. The Nazz outperofrmed once again, although it spent most of the day in the black, but lost 0.1%. Big cap tech helped the Nazz with the likes of AAPL GOOG MSFT BIDU all finishing positive. The S&P 500 closed down 0.4%. Both indexes remain above their 50 day support. But recent action has been troubling. During the day the markets have been slow and almost boring. The old adage, "never sell a dull market", almost comes into play. The market seems to move up and down with updates regarding the debt ceiling. We know something will be done, and to be completely honest I am more concerned with the 7/31 MLB trade deadline, and where Beltran may end up (I am a huge Met fan). Important sectors like the transports were very weak today on the back of a poor UPS earnings report. Weak responses from earnings reports are troubling too. UA SIAL MMM SIAL ITW come to mind. UA WPI, both leading stocks, endured even worse action, with outside reversal days today on earnings. Sectors that did outperform were the semis on the back of a surprisingly bullish earnings report from BRCM. Some bank stocks are slowly starting to show some signs of life after hibernating for what seems like forever. GS ADS RJF BX MS SIVB all are putting up a good showing. Steel was hit today with X NUE getting hurt today. But copper was strong with FCX SCCO finishing up. Earnings after the close were a mixed bag with AMZN LVS TPX all up, but JNPR CHRW ILMN trading lower. Tomorrow brings earnings from ATI ARW AN COP HES ICON MCO MYL PX ROC TMO TUP WLP ZMH before the open and AKAM BMC COG CTXS CLF CROX EFX ORLY SPN V WLL after the close.

Stocks offering specific buy points include cup bases ANF 77.75, APC 85.60, NBL 99.09, RDSA 78.07, SLB 95.39, SGY 36.04, NTES 55.10. Cup with handle bases are ACOM 45.28, NUAN 22.50, GG 55.49, RIO 74.10, VPHM 20.44, TXRH 18.50. 3 week tight patterns are AN 40.32 (earnings tom AM), DRI 53.91, PAG 24.04, V 90.93. Double bottom with handles are KMX 34.91, NKE 94.33, SINA 126.37. Double bottoms are EBAY 34.75, NBR 28.60. Cup with high handles are IRM 35.89, WPRT 28.15.

Stocks near 50 day support are EAT 25, DKS 38.15, DLTR 65, M 28.85, MW 33, TXRH 17.05, CHD 41, WYN 33.35, AGP 69, BAX 59.60, CI 50, XRAY 38.15, AXP 50.50, DFS 24.90, NSC 73 (earnings after close), UNP 102, CBS 27.25, BLL 38.70, DD 52.45, IP 29.65, BG 70, WOR 21.20, ATU 25.10, CAT 103.50, KMT 41.25, CRZO 38, OXY 103, BTU 58, AVGO 35, SOLR 14, GILD 41, WCN 31.90. Stocks that found support at their 50 day MAs today were SCSS CL MYL WCG ARBA ALB TROW JBHT VIAB EMC CCK JBL DAR JPM ATI COP. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are AKAM 31.50 (earnings after close tomorrow), MCO 38.40 (earnings before open tomorrow). TIBX MTL retook their 50 day MAs today.

Stocks near 200 day support are TITN 25, WRC 55, CAR 15.50, LVS 44.20 (earnings after close tonight), BDX 82.25, ILMN 66.75 (earnings after close tonight), STJ 45.95, ZMH 59 (earnings before open Wednesday), ABV 29.40, BMC 49.15 (earnings after close Wed), KKR 15.50, CHRW 76.05 ( earnings after close tonight), DIS 39.50, SWI 21.50, HON here, TYC 44.75, A 43.50, DHR 49.25, JBL 19.05, MOLX 24.55, DOV 62, PLL 52, CAM 51, DVN 80.80, SU 39.75, WLL 60.50 (earnings after the close Wed), WMB 30, ALTR 40.15, SMTC 24.30, ABX 49.05. Stocks that received 200 day support today were FTNT (twice now since earnings last week), BID CTXS (earnings after close Wed), DOW ETN HON VMED AGCO SUN JCI. Stocks that can be shorted at 200 day resistance are INTU 50.10, VRSN 34.05, SOA 22.90, PAY 43.15, ARUN 26.50, ADI 37.95. APKT MOS AA all found resistance at their 200 day MAs today. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are CAKE 30.05, ORCL 31.70, APD 89.50, DOW 35.10, PPG 85.50, ROK 79.45, FCS 16.20. Stocks that lost 200 day support today were MMM PKI TKR ITW PH TRW WY (WY looks very bearish here). Stocks that can be bought as they retake their 200 day MAs and their buy stop spots are ARW 38.25 (earnings before open Wed), SWKS 28.20.

Stocks that can be shorted at 50 day resistance are YUM 55, ABV 32, ADSK 39, INFA 56, STT 45.20, CSX 25.40, NTAP 51.75, NTGR 41, RAX 42, TTM 23. Stocks that met 50 day resistance today were LTD IFF BDX HUM ORCL LYB WLK MSI EXPD RAX SAPE DE MT NUE HES (earnings before open Wed). Stocks that can be shorted as they lose 50 day support and their sell stop spots are COST 80.10, FAST 33.40, AGN 82, FRX 37.60, HS 44, UNH 50.10, EMN 101, QCOM 56, PLCM 29.50, TDC 56, EMR 53.70, RS 48.70, BWA 73.50. Stocks that lost their 50 day MA today were CAH STJ PX CNI FDX UTX X DOV PLL.

Good luck.

The author owns FCX DE WNR WOR.

Monday Thoughts

Markets sold off to start a new week Monday. They started lower after the debt ceiling woes lingering from last Friday, made a mid day move upward, then sold off into the close. The Nazz made it back to UNCH at one point only to slide into the close. Nazz volume was softer, lessening the blow, but S&P 500 volume expanded, raising concerns. Caution is certainly the name of the game here. However stocks that showed some relative strength amidst the wreckage were MSFT ADS CHRW UNP AAPL ROP CAT CPX FDS. Chemicals and transports outperformed with gold and silver stocks slid. Gap ups still holding up, and therefore grant inculsion on your watchlist are GR HOG PM AAPL BBG ACN RRC IBM. New highs on both the Nazz and S&P 500 were strong, but only slightly so. After hours BRCM was up 8% on earnings. We flagged it reclaiming its 50 day MA recently and looking like its changed its trend to a more positive tone. BIDU was up 10%, and NFLX was off 10%. Tomorrow earnings come from AME HSY NOV OXY SIAL UA UPS WDR WAT WPI before the open and AMZN CHRW ERTS GILD ILMN JNPR LVS NBR NSC QCOR TPX after the close. MMM TROW also report.

Stocks offering exact buy points include: Cup bases SLB 95.39, NBL 99.09, RDSA 78.07, CLR 73.58, JOYG 102.27, XRAY 40.26, POT 61.90, CVX 109.70, WTI 28.89, APC 85.60 (earnings). Cup with handles are TXRH 18.50, VPHM 20.44, DD 56.30, AME 46.69, RIO 74.10. 3 week tight patterns are AN 40.32, PAG 24.04, KMT 45.76, FCX 56.78. Double bottom with handles are ETN 53.25, EXXI 35.46, DKS 40.95, NKE 94.33. Double bottoms are NBR 28.60, KLAC 46.28, EBAY 34.75, TCK 53.72. Cup with high handles are MMM 98.29, WPRT 28.15, UTX 91.93. TMO 65.96 in a flat base.

Stocks near 50 day support are TXRH 17.50, VPHM 18.55, IRM 33.50, DLTR 65, FAST 33.50, M 28.75, TSCO 64.50, KO 67, CHD 41, HLF 55.60, WYN 33.25, AGP 68.75, BAX 59.70, CAH 45, CI 50, FRX 37.80, HS STJ here, WCG 50.75, ERTS 23.50, AXP 50.50, WDR 37, DTV 50, QCOM 56.10, CNI 77, JBHT 46, UNP 102, VIAB 50, IP 29.65, WAT 95.50, MS 22.95, ATI 63, DOV 64.50, BWA 73.50, JCI 39, CRZO 38, COP 73.10, BTU 58, WMB 30, AVGO 35, SOLR 13.95, GILD 41, WCN 31.90, GPC 54. Stocks that met 50 day support today were MMM HNZ PETM CL MYL ARBA PX TROW CMCSA EXPD BLL CCK EMR UTX JPM X CAT ITW. Stocks that can be bought as they reclaim their 10 week MAs and their buy stop spots are AKAM 31.60, TYC 48.25, MCO 38.40, DE 83, MTL 25.60, TKR 49.30. Stocks that retook their 10 week MAs today were ALB DOW GS PH.

Stocks near 200 day support are TITN 25, WRC 55, CAR 15.50, BMC 49.15, CTXS 72, FTNT 20, ORCL 31.80, QLIK 26.90, APD 90, LYB 36, KKR 15.50, UPS 72, DIS 39.50, SWI 21.50, HON 55.10, A 43.50, DHR 49.40, JBL 19, PKI 26, AGCO 50, ABB 23.55, CAM 50.80, SUN 41, UPL 46.50, WLL 60.50, ALTR 40.10, SMTC 24.30, ABX 49.05. Stocks that found 200 day support today were KMX BID FDX ATU PH CMI. Stocks that can be shorted at 50 day resistance are DISCA 41.75, SYK 57.50, INTU 50.05, VRSN 34, PAY 43, ARUN 26.50, CBE 60, HES 76, ADI 37.90, MXIM 24.90. Stocks that met 40 week resistance today were RJF ARW TTMI MOS BTU. Stocks that can be shorted as they lose their 40 week MAs and their sell stop spots are ANN 25.80, CAKE 30.10, APKT 60.75, VMED 27.50, MOLX 24.35, FCS 16.25, WY 20.75, AA 15.45. Stocks that can be bought as they reclaim their 40 week MAs and their buy stop spots are EXPD 51.75, JPM 42.85, RS 51.25. DOW AGCO both retook their 200 day MAs today.

Stocks that can be shorted at 50 day resistance are AET 43.75, FL 23.50, YUM 55, HUM 80, ABV 32, ADSK 39.10, INFA 56, EFX 35.50, MSI 45.70, NTAP 51.80, RAX 42, APH 52.15, ADP 53.10, PAYX 30.75, TRW 55. Stocks that met 50 day resistance today were ABV SAP TIBX LYB MSI CSX PLL. Stocks that can be shorted as they lose 50 day support and their sell stop spots are AGN 82, DAR 17.55, EAT 24.80, COST 80.20, MW 32.75, ORLY 61.40, SCSS 16.60, IFF 62.30, TPX 64, UNH 50, PPG 87.60, EMC 27.05, TDC 56.10. Stocks that lost 50 day support today were ANN LTD ILMN RAX AEM.

Good luck.

The author owns FCX DE WNR WOR.

Weekend Stock Reflections

Markets were bifurcated Friday with the Nasdaq up 1%, and the S&P 500 basically flat. For the week the Nasdaq outperformed again up 2.4%, finding 50 day support in the process. The Nazz is now up 7.9% for the year and rests just 1% off its 52 week high. The S&P 500 rose 2.1% on the week and reclaimed its 50 day it lost earlier in the week. For the year it is up 6.9% and it rests 1.9% off its 52 week high. A look at leading stocks also painted a sweet picture. More breakouts occurred this week. NCR from a 20.72 flat base. FMC from a 89.92 double bottom with handle base. SLB from a 90.99 cup with handle pattern, and NOV from a 82.00 cup with high handle formation. Recent breakouts which continue to add to gains post breakout (very bullish) were ALXN JAZZ RRC. Strong earnings, and more importantly good reactions to those reports certainly contributed to the weeks gains as well. AAPL IBM KO MCD MS GR all beat handily and shareholders were rewarded. CAT FFIV disappointed. Just to show the validity of technical analysis, lets take a look at a few companies that reported earnings and where moving averages came into play. Last week stock that found support at their 50 day MAs on earnings day were CAT UNH. Stocks that found support at their 200 day on earnings day were FTNT HON ALTR XLNX. MOS found resistance their. Financials and steel, two moribund sectors came to life this week. Dollar weakness put crude up 3% for the week and gold above the $1600 level. ABX looks to have taken on a trend change this week reclaiming its 200 day MA above 49. Also in that group keep an eye on GG. The handle needs one more day to form a cup with handle pattern. Coal was up 5% on the week, with WLT screaming 19% higher this week. All time highs achieved last week were CMG CPX CERN EL HAL IBM KO MCD OIS SQM. Stocks trading tightly, another bullish signal with all the recent volatility include BBBY DRI M PETM SBUX TIF NKE TUP EXPE AGP WPI GSM WOR. Monday brings earnings reports from BHI ROP BEAV before the open and BIDU NFLX APC BRCM FTI SOA after the close. TXN SCCO also report.

Stocks offering precise buy points include: Cup bases WTI 28.89, CVX 109.70, POT 61.90, LVS 48.35, XRAY 40.26, VCLK 19.83, AGU 96.30, DAR 19.72, MON 76.79, JOYG 102.27, APC 85.60, CLR 73.58, RDSA 78.07, SGY 36.04. Cup with handle bases are BKE 46.76, LTD 41.28, TXRH 18.50, CRL 42.30, VPHM 20.44, DD 56.30, AGN 85.67, AME 46.69, RIO 74.10. Double bottom with handles include ETN 53.25, EXXI 35.46, KMX 34.91, DKS 40.95. 3 week tight patterns are AN 40.32, PAG 24.04, KMT 45.76, FCX 56.78. Cup with high handles are MMM 98.29, IRM 35.89, WPRT 28.15. Flat bases are AET 46.11, NUAN 23.03, TMO 65.96. Double bottoms are NBR 28.60, KLAC 46.28. HNZ 54.41 in a 4 week tight pattern.

Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are YUM 55.25, CAR 16.85, BMC 54, ORCL 32.90, VRSN 34.50, KKR 16.30, JNPR 33.25, NTGR 41.30, AKAM 31.50, CCK 39.30, DE 83.25, TRW 55.50, RIG 65, AA 16, FCS 17.40. Stocks that retook their 50 day MAs Friday were SAP LYB CMCSA PLCM JBL MTL NUE. Stocks near 50 day support are UTX 86.50, CELG 60, LTD 38.50, VPHM 18.55, EBAY 31.20, CAH 45, MW 33, PETM 44.70, TPX 64, WYN 33.20, BAX 59.50, FRX 37.65, HS 44.10, MYL 23.50, ERTS 23.45, PPG 88, AXP 50.50, DFS 24.70, WDR 37, DTV 50, CHRW 78.50, CNI 76.75, JBHT 46, DELL 16.25, BLL 38.70, IP 29.80, ROP 82, DOV 64.60, JCI 39, AVGO 35, WY 21.35, BHP 92.25. Stocks that found 50 day support Friday were RAX ANN EAT ORLY IFF ILMN STJ ABV EMC SAPE X ITW PLL.

Stocks near 200 day support are CAKE 30.20, ETN 50.80, BID 44, WRC 55, ABV 29.35, RAI 34.55, BMC 49.10, CTXS 71.50, APD 89.90, SWI 21.50, PKI 26, ABB 23.55, ATU 26.05, CMI 104, CAM 50.75, WLL 60.40, SLW 36. Stocks that found 40 week support Friday were VMED PH TCK. Stocks that can be shorted at 40 week resistance are INTU 50.10, AMP 58, TROW 62, ARUN 26.50, PAYX 31, ADI 37.90, MXIM 24.75. Stocks that met 200 day resistance Friday were SYK SOA ARW BTU. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are EXPD 51.75, NTAP 52.75, AGCO 50.30, MOS 73.50, JPM 42.90, RS 51.25, HES 76.30, BTU 61.90, NXPI 23.90. RJF APKT retook their 40 week MAs Friday.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are ANN 27, FAST 33.30, ORLY 61.40, BDX 86, HUM 79, ARBA 32.40, PX 104, TDC 56, EMR 55.75, ROK 82. APD ALB lost 50 day support Friday. Stocks that can be shorted at 50 day resistance are DISCA 42, ADSK 39.10, INFA 56, EFX 33.50, STT 44.50, PAY 43.50, MSI 45.90, DHR 53. Stocks that met 50 day resistance Friday were ADP CAKE YUM ZMH TIBX DOW.

We bought some WOR on Wednesday as the gap up continues to firm up. DE still troubling us as we are down slightly in it and do not like the action.

Good luck.

The author owns DE FCX WNR WOR.

Vacation

To all my followers, I will be on vacation in Montauk LI for the rest of the week. Posts will resume this weekend. Good trading.

Tuesday Recap

Markets roared Tuesday, and they did so with some volume, and probably more importantly did not surrender and gains late. The S&P 500 gained 1.63%, and in the process recouped its 50 day MA. The Nasdaq outperformed rising 2.2%. Lending more credence to the days bullishness was the strength of leading stocks. Many broke out today. KO took out a 68.99 cup with high handle pattern. UA also took out a cup with high handle buy point of 81.55. KMT finished right at its cup with high handle buy point of 45.36. Old leader MSFT took out a double bottom buy point of 26.97. BHI PVH added gains after very recent breakouts. Some leaders on the other hand displayed bearish action. WYNN SINA has reversals intraday to the downside. WLP COP finished lower on a very healthy tape. After hours some techs were screaming higher post earnings. AAPL VMW ALTR were all higher. RVBD FTNT CMG were lower. Lets see if FTNT can find support near its 200 day MA tomorrow at 20. Tomorrow expect more earnings reports from APH JCI UTX before the bell and AXP CAKE EBAY QCOM RJF TSCO after the close.

Stocks near specific buy points include: Cup with handles IFF 65.34, MON 75.60, TXRH 18.50, LTD 41.28, AGN 85.67, BDX 89.85, CRL 42.30, VPHM 20.44, DD 56.30, AME 46.69, JOYG 99.41, SLB 90.99. Cup bases are VCLK 19.83, APC 85.60, CLR 73.58, SGY 36.04, ACOM 45.89, POT 61.90, XRAY 40.26. Double bottoms with handles are EBAY 34.17, FMC 89.82, ETN 53.25, CAT 112.75, EXXI 35.46, FTI 45.99. 3 week tight patterns are MCD 86.56, ICON 25.38, EL 107.20, CAH 47.16. Cup with high handles are CAKE 34.17 (earnings after bell Wednesday), CERN 64.58, UTX 91.93, NOV 82.00. Double bottom is NBR 28.60.

Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are TITN 28.05, AET 44.10, ILMN 74, SYK 60.25, RAI 38.25, BMC 54.25, ORCL 33.15, PAY 44.50, APKT 71, FDX 92.50, JNPR 33.30, NTGR 41.40, HON 58.25, IP 30.20, JBL 20.30, TMO 63.95, MTL 25.65, TKR 49.90, X 44.25, ABB 26, BHP 92.40. Stocks that retook their 50 day MAs today were ANN FL WYN CELG ABV PM NUAN QLIK TIBX ALB QCOM TWC CHRW VIAB EMC ARUN WAT SAPE BG DAR WBC WLL ARMH BRCM. Stocks near 50 day support are MW 33, AGP 68.50, CAH 45, CI 50, FRX 37.50, HS 44.10, QCOR 24, ERTS 23.40, APD 92.50, PPG 88, PX 104.25, AXP 50.20, DFS 24.60, DISH 29.50, CNI 77, JBHT 45.95, CBS 27.05, RAX 42. Stocks that received 50 day support today were HNZ UNH WDR ROP MMM ATI AVGO WY AEM.

Stocks near 200 day support are SAP 57, CCK 36, SMTC 24.40. WRC CAR LVS SYK PKI all received 200 day support Tuesday. Stocks that can be shorted at 200 day resistance are INTU 50.25, VRSN 34.05, DOW 35.30, SOA 23, KKR 15.55, VMED 27.95, ARW 38, MOLX 24.70, PAYX 31, CBE 60.10, IR 45.60, ADI 38, MXIM 25, NXPI 24. Stocks that met 200 day resistance today were BID PAY FDX DIS TKR TRW BTU TCK WLL ABX. Stocks that can be shorted as they lose 200 day support and their sell stop spots are LYB 35.85. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are NTAP 53, TTMI 15.80, RS 51.25, PH 88.30, BTU 61.75, TCK 53.45, WLL 61, CRUS 17.60. Stocks that retook their 40 week MAs today were ORCL FFIV TEL ATU CMI CAM DVN SU KLAC.

Stocks that can be shorted at 50 day resistance are INFA 56.25, TROW 60, RJF 33.05, MSI 46, SWI 24.50, A 49.40, APH 52.60, AGCO 49.10, JPM 41.50, MT 33, NUE 40.95, PLL 54.80, RIG 64.40, XLNX 34.95. Stocks that met 50 day resistance today were COST YUM EMN CMCSA CSX UNP NTAP BLL DHR ADP AGCO ITW ROK HES MRO RDC. Stocks that can be shorted as they lose their 50 day MAs and their sell stops are ORLY 61.40, HUM 78.80.

Good luck.

The author owns DE FCX WNR.

Monday Thoughts

Markets Monday fell, but managed to finish off the lows for the day. Back during the healthy rally many months ago, Mondays were generally a very strong day. Not so anymore. The Nasdaq did maintain support at its 50 day MA, but the S&P 500 was not as fortunate. Volume was light compared to Fridays levels. Some bright spots did emerge from the soft day today. AAPL recorded an all time high today in strong trade. BHI broke out from a double bottom with handle base at 75.70. Gold and silver stocks rose as bullion eclipsed the $1600 mark for the first time. Some retail stocks behaved fairly well. For the most part it obviously was a weak day. New highs versus new lows was negative. The S&P 500 slashing through 50 day support and the weak performance of economic bellwether FDX, along with all the political and fiscal concerns here and abroad reared their ugly heads. After the close IBM WYNN were trading higher on solid earnings reports. Tomorrow will bring more heavyweights earnings from the likes of AAPL ALTR CMG CSX VMW RVBD FTNT after the bell and KO FRX HOG BTU UNH before the bell.

Stocks offering specific buy points include: Double bottom with handles are MTZ 21.41, BIDU 148.54, RAX 46.27, ETN 53.25, EXXI 35.46, FTI 45.99, OXY 107.99, EBAY 34.17, FMC 89.92, CAT 112.75, CVX 107.02, FTI 45.99, FCX 56.22. Cup with handles are TXRH 18.50, BKE 46.76, ANF 75.03, CRL 42.30, VPHM 20.44, RVBD 41.93, DD 56.30, JOYG 99.41, SLB 90.99, WTI 27.81. Cup with high handles are CAKE 34.17, UA 81.55, UTX 91.93, KMT 45.36, NOV 82.00. 3 week tight patterns are MCD 86.56, ICON 25.38, EL 107.20, CAH 47.16, CI 52.60, SQM 67.22. Double bottoms are SINA 128.27, APC 80.68. Cup bases are ACOM 45.89, POT 61.90.

Stocks near 50 day support are DRI 25, DKS 38.50, SCSS 16.75, CL 86.55, HLF 55.10, CAH 45, CI 50, XRAY 38.15, HS 44, UNH 50.10, CERN 60.10, CE 50.60, PX 104.25, SIAL 70, ACN 57.85, VCLK 17.10, ATI 63.60, WOR 21, JCI 39, CRZO 37.50, NBR 25.60, PTEN 30, BTU 58.10, RDSA 70.05, TCK 49. Stocks that found 50 day support today were EAT FAST MW ORLY KO GR FRX HUM WCG ERTS APD AXP CNI NSC UPS KSU CBS MMM AME DOV BWA CMI APA.

Stocks near 200 day support are TITN 25, CELG 51.80, ILMN 67, MYL 22.20, BMC 49.25, CTXS 71.75, APD 90, WDR 36.15, CMCSA 23.20, CHRW 76, EMC 25.10, NTGR 35.10, CCK 36, HON 55.10, IP 28, ROP 79.50, TYC 44.75, A 43.50, ABB 23.60, AREX 24.10, PXD 90, ALTR 40.25, SMTC 24.35, XLNX 31.55, WY 21, BHP 92. Stocks that found 200 day support today were WRC SYK MSFT LYB UPS JBL AGU ROK SUN. Stocks that can be shorted at 200 day resistance are INTU 50.20, 31.80, VRSN 34.05, DOW 35.25, KKR 15.50, PAY 43.75, DIS 39.75, TEL 35, MOLX 24.70, CBE 60, TRW 54, KLAC 41.95, AA 15.75. Stocks that met 200 day resistance today were DISCA SAP FFIV PH CAM SU FCS. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are CAR 15.20, STJ 45.20, LYB 36, APKT 62.25, ARUN 26.25, JBL 18.85, BG 67.75, PLL 51.70. Stocks that lost their 200 day MAs today were KMX BID LVS ORCL KKR VMED FDX TEL TTMI PKI TRW. Stocks that can be bought as they reclaim their 40 week MAs and their buy stop spots are CAM 51.25, DVN 81.25, BTU 62, CRUS 17.60, ABX 49.50.

Stocks that can be shorted as they lose their 10 week MAs and their sell stop spots are TPX 63.50, AGN 81.50, BAX 59.05, HS 43.60, HUM 79.10, WCG 50, PPO 65.10, TRN 32.60, PLCM 29.70, TDC 55.90, EMR 53.75, RIO 68.50. Stocks that pierced their 50 day MAs today were PETM YUM HNZ IFF BDX CELG MYL NUAN ALB TWC FDX VIAB BLL ITW AVGO. Stocks that can be shorted at 50 day resistance are COST 80.50, AET 44, ILMN 73.75, ABV 32, TIBX 28, EMN 101.50, QCOM 56.10, UNP 102, VIAB 50, NTAP 52, DHR 53.25, ADP 53.25, X 44, RIG 64.75, ARMH 28.15. Stocks that met 50 day resistance today were FL ROP TMO MOS RS DVN.

Good luck.

The author owns DE FCX WNR.

Weekend Warrior

Markets Friday ended the week on a decent note, climbing into the close. Volume was mixed. For the week the Nasdaq fell 2.45%, and is quietly only 3.4% off its 52 week high. The Nasdaq found 50 day support on Thursday. The S&P 500 lost 2.06% for the week, and now rests 4% off its 52 week high. The S&P 500 eased below its 50 day MA Thursday on a closing basis, but managed to regain that line Friday. Behavior of leading stocks, a wonderful gauge of market soundness, was mixed on the week. Some breakouts did emerge this week, especially from the energy sector, boosted by BHP takeout of HK. NBL PXP RRC SM all took out trigger points in various bases on strong volume. PVH, a retail leader broke out Thursday from a cup base and tacked on another 1.35% Friday. AAPL hit an all time high Friday as well. Stocks trading very tightly, amidst a sea of recent volatility (very bullish), are NKE DRI JWN. LVS is clinging to its 200 day MA, much like AGU has been doing. Others like INFA WLP look like they have broken beautiful uptrend chart lines. Others that had intraday negative reversals from ALL time highs were COH 7/17, VFC 7/13, PLCM 7/7. As always its a stock pickers market. Utilize your discipline. We did have some decent earnings reports this week, notably from GOOG JPM. There was some M&A activity as well, demonstrating that some savvy investors see certain equities as undervalued. ARJ CLX HK all apparently fit that bill this week. Monday kicks off a big earnings week with HAL CHKP before the bell, and IBM WYNN MOS NTGR after the close.

Stocks offering specific buy points include: Cup with handles are ANF 75.03, SLB 90.99, JOYG 99.41, NUAN 22.50, DD 56.30, RVBD 41.93, AME 46.69, LTD 41.28, AGN 85.67, BDX 89.85, VPHM 20.44, WTI 27.81. 3 week tight patterns are MCD 86.56, CAH 47.16, CI 52.60, CRL 42.30, EL 107.20, SQM 67.22, IBM 177.87. Double bottoms with handles are EXXI 35.46, KMX 34.91, FMC 89.92, CAT 112.75, APC 80.68, BHI 75.70, CVX 107.02, FCX 56.22. Cup with high handles are KMT 45.36, UTX 91.93, MMM 98.29, CAKE 34.17, KO 68.99. Cup bases are ACOM 45.89, POT 61.90, XRAY 40.26. Double bottoms are XOM 83.85, NBR 28.60.

Stocks that are near 50 day support are AMZN 199, SBUX 38.05, CAH 45, EAT 25, EBAY 31.15, FAST 33.50, LTD 38.90, M 28.50, MW 33.10, SCSS 16.70, TIF 78, AGN 82, HS 44, FRX 37.30, UNH 50.10, WCG 50.20, HLF 55, TPX 63.75, GR 90.30, ARBA 33, CERN 60.10, FTNT 24.75, DISH 29.45, CBS 27.05, VIAB 50, TRN 33, ADS 92, AXP 50.25, DFS 24.55, RAX 42, BLL 38.70, PLCM 29.80, RDSA 70, AEM 63.10. Stocks that found 50 day support Friday were HNZ MW PETM CHKP ERTS NUAN CNI FDX KSU UPS WDR RAX MWV DOV ITW AVGO APA OXY BTU WY. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots RAI 38.25, DGX 59, ARUN 28.50, BG 70.60, CCK 39.20, JBL 20.40, TMO 63.55, ABB 26, PH 88, X 44.30, MTL 25.65, RS 49.85. ATI NBR PXD WMB all retook their 50 day MAs Friday.

Stocks near 200 day support are ABV 29.25, LVS 44.10, WYN 31.05, SYK 57.50, LYB 36, CTXS 72, ORCL 31.90, SAP 57, QCOM 52.90, CHRW 76, WDR 36.20, AGU 87.50, ETN 50.90, HON 55.10, CTAS 29.50, JBL 19.05, SMTC 24.30, SUN 41, MCP 50, RIO 69. Stocks that found 200 day support Friday were BID STJ ORCL SAP FDX KKR ARUN ETN CXO SU. Stocks that can be shorted at 200 day resistance are JCP 34, DOW 35.20, SOA 22.95, GD 72, INTU 50.25, STT 45, ARW 38, OPEN 83, CBE 60, NXPI 23.75. Stocks that met 40 week resistance Friday were DIS IR ATML EOG AA. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are ANN 25.75, CAR 15.40, TEL 35.40, VLO 24.25. VMED lost its 200 day Friday. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are CRUS 17.60, CAM 51.25, TCK 53.30, ABX 49.50, PAAS 35.30. NBR PXD both retook their 40 week MAs Friday.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are KO 66.75, YUM 54.75, HUM 79.35, TWC 76.75, EMR 53.75, TDC 55.75, AVGO 34.50. Stocks that lost their 50 day MAs Friday were ILMN INFA TIBX QLIK CHRW ADP. Stocks that can be shorted at 50 day resistance are ABV 32, COST 80.40, EMN 102, NOC 65.60, BMC 53.85, TIBX 28, MSI 46, UNP 102, TROW 60, CTAS 32.10, A 49.50, EMC 27.30, MT 33.05, ARMH 28.20, MUR 66. Stocks that met 50 day resistance Friday were ABV AET AGCO STT MOS SAPE DVN.

Good luck.

The author owns DE FCX WNR.

Thursday Recap

Markets again acted very bearishly Thursday, opening well, and closing very poorly. Just the reverse of what occurs in strong bull markets. Volume rose, and the S&P 500 lost its 50 day MA today while the Nasdaq found tenuous support there. The SDS, a double inverse bearish S&P ETF, looks like it has bottomed and is now right up on 50 day resistance at 21. A push above that line would obviously not be a good thing. Strong recent sectors also were weak Thursday. Software stocks were soft, with ADSK BMC ARBA CTXS INFA TIBX ORCL all behaving poorly. Credit card companies did the same with DFS COF AXP all under performing. Transports were off today with CSX UNP both surrendering 50 day support today. More weak earnings reactions continued today with MAR losing 6.6% today, piercing its 50 day MA. It met stiff 200 day resistance to the penny yesterday. Their was a bearish reversal in COP today, after announcing it would split into two companies. Leaders such as BMC NTGR DHR WBC BHP all lost their 50 day support today as well. Some stocks did manage to break out Thursday on this feeble tape, including JAZZ @36.57, CBI @40.30. KEG is now back above its 19.13 cup base buy point. GOOG was surging 12% higher after hours on its earnings forecast. It should give the market an early boost Friday. Let see if the early gains fade as they have now done everyday this week. Not much in the way of earnings on companies we follow tomorrow but Monday brings earnings reports from HAL before the bell if you are holding the company overnight into the weekend and IBM MOS WYNN NTGR after the close Monday. Economic reports Friday include CPI, industrial production, consumer sentiment, Empire State Manufacturing Survey.

Stocks that are offering exact buy points (many have formed handles after 5 days) are: Cup with handles LTD 41.28, AGN 85.67, BDX 89.85, CRL 42.30, VPHM 20.44, TRN 37.45, DD 56.30, RVBD 41.93, AME 46.69, JOYG 99.41, HP 69.83, PXP 39.64, SM 76.25, WTI 27.81. Double bottoms with handles are KMX 34.91, BID 49.00, FMC 89.92, BIDU 148.54, ETN 53.25, CAT 112.75, BWA 82.08, BHI 75.70, CVX 107.02, CLR 68.60, FTI 46.09, GPOR 32.50, NBL 92.70, FCX 56.22. Cup with high handles are KO 68.99, CAKE 34.17, UA 81.55, MMM 98.29, UTX 91.93, KMT 45.36, NOV 82.00. Cup bases are XRAY 40.26, ACOM 45.89. As always demand heavy volume (greater than 40%) on the break out.

Stocks near 50 day support are EAT 25, DKS 38.55, EBAY 31.10, FAST 33.50, SCSS 16.70, YUM 55, HS 44, FRX 37.20, UNH 50.10, HLF 55, APD 92.50, PX 104.10, GR 90.30, CERN 60, CHKP 55, QLIK 32, CBS 27, FDX 92, NSC 72.60, UPS 72.25, AXP 50.10, R 54, DOV 64.50, JCI 39, APC 75, COG 59.75, CAM 47.80, XOM 80.95, PTEN 29.70, RDSA 70.05, AEM 63. Stocks that found 10 week support today were MW ERTS CHRW WDR RAX BBG OXY WY. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are RAI 38.40, DIS 40.25.

Stocks near 200 day support are WYN 31.05, SYK 57.40, LYB 36, CTXS 72, ORCL 31.75, SAP 57, APKT 62, QCOM 52.60, UNP 96, AGU 87.60, HON 55.05, IP 28, CTAS 29.50, JBL 19, PLL 52, ARMH 25, ALTR 40.10, SMTC 24.25, APA 118, HK 21.45, SGY 26, WY 21, BHP 91.75, MCP 50, RIO 69. LVS SAP CMI VLO all found 200 day support today. Stocks that could be shorted at 200 day resistance are DOW 35.20, MXIM 24.95, NXPI 23.60. INTU PAYX ARW ABX all met 40 week resistance today. Stocks that can be shorted as they lose their 40 week MAs and their sell stop spots are CAR 15.30, STJ 45.20, AMT 51.45, VMED 27.25, ARUN 26.30, BG 67.70, TEL 34.60, ROK 79.10, ATI 59.75, TKR 48, ATML 12.50, TRW 53, VLO 24.40. GD AGCO IR PH KLAC CXO SU AA all lost their 200 day MAs today. Put a buy stop in on NBR @25.25, if it can retake its 200 day today. ANN KKR both reclaimed theirs today.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are KO 66.50, CPO 54.70, HNZ 53, MW 32.75, PETM 44.20, HUM 79.50, TPX 63.40, ASH 62.10, INFA 55.75, NUAN 20.75, TIBX 27.75, TWC 76.10, CNI 76.25, KSU 56.10, BLL 38.40, MWV 32.70, ADP 53, VCLK 17, PLCM 29.50, ITW 56.20, AVGO 34.70, CRZO 36.75. Stocks that lost their 50 day MAs today were COST WYN ALB NOC AGCO DAR MOS ROP TYC SAPE ABB PLL ROK TKR APA SGY. Stocks that can be shorted at 50 day resistance are ABV 32.10, ANN 27.75, CAR 17, DGX 58.70, WLP 78.05, EMN 101.50, TXT 22.85, KKR 16.40, TROW 60, CCK 39, A 49.70, TMO 63.10, XLNX 35, WMB 30. Stocks that met 50 day resistance today were ABV AET QCOM EXPD UNP STT ARUN BG EMC CBE IR PH X RS ARMH CY FCS HK PXD.

Good luck.

The author owns DE FCX WNR.

Wednesday After Market

Markets continued their bearish action Wednesday, opening well, then closing hard upon their lows. Just the opposite of what healthy markets do. China's strong GDP report gave the markets their early boost and in the process had the S%P 500 reclaim its 50 day MA. But it was up as much as 1.3%, finishing up only .3%. The Nasdaq saw a 1.6% gain, shrivel away to a .5% advance. Action among leading stocks was again weak. GSM broke out of a 24.90 cup base, but gave up most of the days gains to close exactly at the trigger. IRM attempted to break out of its 35.60 cup base only to finish the day below it. ALXN took out a 51.08 double bottom buy point and finished above it but volume was soft and gave back the majority of its intraday gains. Semis were among the week sectors, while gold and silver equities outperformed. Their are still some beacons of strength amid the impotent markets. AGU looks good hugging 200 day support and trading tightly. WOR ACN still are holding their gap ups. SCCO looks like it has broken its major downtrend this week. But proceed with caution here. Remember the third year of bull markets are notoriously bumpy. After hours Moodys put USA debt rating on possible downgrade. Futures dropped. YUM jumped after hours on a benign earnings report. Tomorrow JPM FCS report before the bell and GOOG after the close. Also weekly jobless claims, business inventories, retail sales and PPI are all reported.

Stocks offering specific buy points include: Cup bases are POT 61.90, ACOM 45.89, XRAY 40.26. BHI 76.75 in a double bottom base. WTI 27.81 in a cup with handle. Cup with high handles are UA 81.55, JAZZ 36.57.

Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are SYK 60.50, DIS 40.25, IR 47.20, X 44.60, MT 25.65, BTU 59.30, AA 16.20. ABB BHP PAAS all retook their 50 day MAs today. Stocks near 50 day support include EAT 25, FAST 33.45, LTD 38.75, M 28.30, MW 33, PETM 44.30, CAH 45, CI 49.50, HS 44, UNH 50.05, VPHM 18.50, APD 92.60, QLIK 32, TIBX 28, CBS 27, CHRW 78.75, CNI 76.80, FDX 92, UTX 86.50, SAPE 14.50, NTGR 41, PLCM 29.90, TDC 56, DOV 64.50, APC 75, RDSA 70, NBL 88.20. Stocks that found 50 day support today were ILMN ASH ERTS KSU WDR DAR ROP TKR KLAC APA.

Stocks near 200 day support are KMX 32.15, CTXS 71.75, SAP 57, ORCL 31.75, UPS 72, ETN 50.50, HON 55.05, JBL 19, MCP 50, TEL 34.95. ATI TRW CXO SUN all found 200 day support today. Stocks that can be shorted at 200 day resistance are ANN here, JCP 34, BID 44.05, CAR 15.45, DOW 35.15, INTU 50.25, VRSN 34, KKR here, PAYX 31, ARW 38, CBE 60, MXIM 24.95, NVLS 34. MAR DIS EMR ARW FCS CAM PXD all found 200 day resistance today. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are STJ 45.20, GD 71.50, VMED 27.30, PH 85.80, ATML 12.60. INTU OPEN NXPI all lost their 200 day MAs today. Stocks that can be bought as they retake their 200 day MAs and their buy stop spots are CRUS 17.60, NBR 25.25, TCK 53.25, ABX 49.40. IR retook its 200 day today.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are HNX 53, COST 80.25, YUM 54.70, HUM 79.40, ALB 67.65, EMN 101, NOC 65.50, BMC 53.40, INFA 55.75, NUAN 20.75, VIAB 49.70, RAX 41.75, MOS 66, MWV 32.70, ADP 53.10, DHR 52.75, ROK 82.50, ARMH 27.75, AVGO 34.60, SGY 29.70. Stocks that lost their 50 day MAs today were DGX EMN QCOM COF TYC CTAS NTAP. Stocks that can be shorted at their 50 day MAs are CAR 17, RCL 37.90, WLP 78.05, LYB 39.90, FLIR 34.25, TXT 22.95, MSI 46, COF 52, CTAS 32.10, A 49.60, APH 53, SMTC 27, XLNX 35, MUR 66, WMB 30. Stocks that met 50 day resistance today were ARUN DE CCK HON TMO EMC ABV AET ORCL EXPD TROW AKAM MT X RS CY OXY HK VLO.

Good luck.

The author owns FCX DE WNR.

Tuesday Recap

Markets Tuesday were feeble, closing hard upon their lows. A late sell off, in heavy volume, classic bear market action, had the S&P 500 closing just below its 50 day MA. Markets briefly went positive after the release of Fed minutes, but quickly turned tail after a Moodys slashed Irelands credit rating. Their are many negatives to point to concerning the indexes here. Leading stocks, which broke out are now trading below their breakout points. AGCO CRZO RAX come to mind. Earnings reactions are poor. AA NVLS FAST were all received awfully. NVLS probably deserved it, but FAST put up good numbers. Leading sectors are starting to slowly weaken. Take chemicals. LYB is trading poorly under its 50 day MA. EMN ASH look like they are about to lose theirs. DOW SOA both lost their 200 day MAs recently. Transports are softening here. UNP EXPD both lost their 50 day MAs today. Other sectors which are important but not leaders here include the semis. SMH lost its 200 day MA today. So did NVLS after an earnings report. Others to be slaughtered today in the group were ADI down 5%, FCS 7%, MXIM MCHP both 11%, MCHP 12%. All of these previously mentioned lost their 200 day MAs in the process. Banks continue to just implode. GS MS JPM all getting clobbered. BAC looks like its headed to single digits again. YUM MAR both report earnings after the bell tomorrow.

Stocks offering exact buy points are: Cup with high handles UA 81.55, JAZZ 36.57. WTI 27.81 in cup with handle base. XRAY 40.26, IRM 35.60 in cup bases. ALXN 51.08 in a double bottom base and HNZ 54.59 in a 3 weeks tight pattern.

Stocks near 50 day MAs are EAT 24.95, FAST 33.45, LTD 38.75, MW 33, PETM 44.30, SCSS 16.65, WYN 33.50, AGN 82, CI 49.25, HS 44, UNH 50.05, VPHM 18.50, WCG 50, APD 92.75, NOC 65.90, PVH 66, BMC 53.65, ERTS 23.10, FTNT 24.25, INFA 56, QLIK 32, TIBX 28, CBS 27, CHRW 78.50, CNI 76.75, FDX 92, NSC 72.40, R 54, BLL 38.50, UTX 86.50, ADP 53.20, SAPE 14.50, DELL 16.15, NTGR 41, TDC 56, CAT 104, DOV 64.50, ITW 56.60, ROK 83, WOR 21, APC 75, BHI 72, BBG 43.50, CAM 47.90, CPX 32, KEG 17, CBI 36.60, WY 21.40. Stocks that received 50 day support today were ANF BDX HUM ILMN GD VIAB KSU WDR IPI TYC TKR AVGO WBC NBL RRC RDSA SWN ABX SCCO. AKAM can be bought thru 32.25, if it can regain its 50 day MA. DKS DAR AEM PAAS all retook their 50 day MAs today.

Stocks near 200 day support are KMX 32.15, BID 44, LYB 36, FLIR 31.15, ORCL 31.75, SAP 56.95, UPS 72, BG 68, CCK 35.95, ETN 50.50, HON 55, ROP 79, JBL 19, APA 118, RIO 69. AGU ATML CMI SUN BHP all found 200 day support today. Put in a buy stop on MAR @38.25, if it can regain its 200 day MA. Stocks that can be shorted at 200 day resistance are JCP 34, SOA 22.90, VRSN 34, DIS 39.50, AMP 58.05, EFX 35.80, KKR 15.45, CBE 60, ADI 38, DVN 80.50, NBR 25, HK 21.20, WMB 27.15. Stocks that met 200 day resistance today were IR PXD. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are STJ 45.20, INTU 50, PAYX 30.55, OPEN 81.25, ATI 59.60, ATML 12.60, TRW 53.10, CXO 89.60, VLO 24.30. Stocks that lost their 200 day MAs today were ANN LVS DOW VRSN VMED EXPD AGCO ARW NTAP CBE PH DI FCS MXIM NXPI SU.

Stocks that can be shorted at 50 day resistance are PEP 69.80, CAR 17, WLP 78.05, LYB 39.90, WLK 53.50, TXT 23, RJF 33.55, TROW 60.05, WAT 95.85, ABB 25.95, MUR 66, RS 49.90. Stocks that met 50 day resistance today were AA STT IP MT OXY BTU. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CPO 54.75, ABV 31.50, YUM 54.70, DGX 58.25, ALB 67.70, ASH 62.35, EMN 101.40, NUAN 20.80, QCOM 56, TWC 76, CSX 25.30, RAX 41.60, MWV 32.65, CTAS 31.80, VCLK 17, DHR 52.75, CRUS 15.30. Stocks that lost their 50 day MAs today were ORCL EXPD UNP ARUN MOS TEL JBL TMO EMC ARMH ALTR BRCM CY SMTC XLNX SGY BHP.

Good luck.

The author owns FCX DE WNR.

Monday Thoughts

Markets sold off hard Monday closing near their lows for the day. Volume picked up, clouding the strength of the recent rally. The Nasdaq took the hardest fall today declining 2%. The S&P 500 lost 1.81%, although it did manage to find support at its 50 day MA. Whether you want to blame Italy or last Fridays horrible jobs report, the markets are taking a more somber tone. The Nasdaq itself ran up 230 points in 3 short weeks, basically in a straight line, so some weakness was to be expected. It was the volume that alarmed us. We have to remember the bull market is into its third year and traditionally they are very volatile. The recent action of leading stocks, the markets true barometer of health, has been suspect. Breakouts in light volume, finishing below buy points after surpassing them intraday. No sectors were immune from the slaughter Monday, but banks and transports suffered mightily. A look at the UUP, a US dollar ETF , shows a collision course with its 200 day MA near 22.15. The challenge could provide some answers to sectors such as energy and materials. Today after the bell we had 2 reports. AA was down slightly and NVLS dropped hard in after hours. Tomorrow brings earnings from FAST before the bell. Economic reports include chain store sales and minutes released from Fed meetings.

We are being cautious here and watching previous buy points. We are following how stocks will hold up around their MAs. Also we will watch stocks in cup or double bottom bases that are forming handles. Remember handles must be 5 days in duration to be considered valid. Some that are very close are CAKE BID AGN JAZZ EMN PVH UA NUAN APKT TRN RAX DD MMM AME CAT JOYG KMT GSM TKR ALTR HP NBL PXP SPN WTI CBI. Keep them on a watch list and buy only if they take about the proper buy points on big volume.

Stocks near 50 day support are EAT 24.85, LTD 38.75, M 28.05, MW 33, PETM 44.10, SCSS 16.50, WYN 33.35, AGN 82, AGP 68, BDX 87, CAH 44.95, CI 49.25, XRAY 38.05, HS 44, FRX 37, UNH 50.05, VPHM 18.50, WCG 49.90, HLF 54.25, APD 92.60, ALB 68, ASH 62.45, GRA 44.10, GD 72.60, PVH 66, BMC 53.70, ERTS 23.05, NUAN 21.05, TIBX 28, DISH 29.25, QCOM 56.10, CBS 27, VIAB 50, CHRW 78.50, CSX 25.50, CNI 76.75, KSU 56.30, NSC 72.40, ARUN 28.40, GOOG 519, RAX 42, BLL 38.50, UTX 86.75, CTAS 32.05, VCLK 17.10, TEL 36.10, TDC 56, ITW 56.60, TKR 50, WOR 21, ARMH 28.25, CRUS 15.40, SMTC 27, XLNX 35, WPRT 23.05, APC 75, BHI 72, CAM 47.85, CRZO 37, CPX 32, KEG 16.95, NBL 88.50, RDSA 70.20. Stocks that found 50 day support today were ABV ANF ILMN EMN ORCL UNP COF WDR AGCO IPI MOS ROP DHR JBL NTAP ALTR BRCM WBC APA XOM WY BHP ABX SCCO.

Stocks near 200 day support are PEP 66.30, KMX 32.15, BID 44, CAR 15.45, SYK 57.10, ZMH 58.25, SAP 57, UPS 72, ETN 50.40, ABB 23.50, ADI 38, ATML 12.90, APA 117.60, HK 21.35, SUN 41, VLO 24.50, WMB 27.10, AA 15.55 (earnings after bell), FCX 52.50, RIO 69. VMED EXPD AGU ATI CXO SU all found 200 day support today. Stocks that can be shorted at 200 day resistance are SOA 22.80, DIS 39.50, KKR 15.50, TXN 33.15, NBR 25. ADSK found 200 day resistance today. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are ANN 25.75, DKS 36.50, STJ 45.20, INTU 50, VMED 27.50, PAYX 30.60, ARW 37.25, OPEN 81.75, CBE 59.50, PH 85.60, ATI 59.65, FCS 16.10, NXPI 23.50, CMI 103, TRW 53.10. Stocks that lost their 200 day MAs today were LVS DOW VRSN DIS KKR STT EMR APH IR CAM DVN PXD.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CPO 54.75, HNZ 52.75, COST 80.15, YUM 54.50, MAR 35.60, HUM 79.20, DGX 58.25, TWC 76, MWV 32.75, PLL 54.50, RRC 53.20, SGY 30. Stocks that lost their 50 day MAs today were PAAS WAT EMC MT X ATML OXY BTU AEM PEP CAR HOT AET LYB TXT CTXS APKT TROW DE HON MCO A APH TMO. Stocks that can be shorted at 50 day resistance are CCL 38, FLIR 34.45, TXT 23, MSI 46.05, RJF 33.75, AKAM 32, CCK 39, RS 50, MUR 66.20. Stocks that met 50 day resistance today were WLK BG DAR CCK IP.

Good luck.

We bought some WNR today as it retreated back to its 19.60 cup base buy point on light volume. DE lost its 50 day today but we are still profitable on the trade and will keep it on a tight leash.

The author owns FCX DE WNR.

Weekend Stock Reflections

Markets finished the week Friday with some more gains following last weeks explosive move. The Nasdaq outperformed with a weekly advance of 1.55%, while the S&P 500 gained 0.3%. Pretty impressive to consolidation. Friday itself on first look, seemed fragile, but the indexes clawed their way back from the lows of the day to finish up near their highs. A dismal job report was the culprit. The Nasdaq is now just 1% from its 52 week high, and the S&P 500 just 2%. We are still cautiously bullish here, as some leading stocks continue to break out. Friday brought 2 more breakouts, with AGCO clearing a double bottom buy point of 52.50, and WNR smashing through its 19.60 cup base trigger. But others have either stalled, or closed back below their buy points after breaking out. ILMN AH come to mind here. Others cleared buy points such as DECK, but with a lack of volume conviction. So the market is generating mixed signals. All in all though the market is grinding constructively higher. As always buy only leading stocks emerging from sound bases on big volume. And cut your losses quickly and let winners run. Stocks that have been trading tightly for the last 2 weeks, which is very bullish and if they can do so for one more week, will form a 3 weeks tight base are MCD AGN ALB BDX WPI EL. SBUX FAST have also done the same after recent breakouts. Software has been strong as of late with QLIK ARBA NUAN CHKP VMW all finishing higher Friday despite a weak tape. With the exception of Friday, the transports have also been a top recent performer. Weakness in stocks such as FDX NSC KSU should all be bought. Other stocks demonstrating superior relative strength Friday were some big caps. AAPL AMZN EBAY EXPE WYNN CLF all fit the bill. Monday kicks off earnings season with AA NVLS both reporting after the close.

Stocks offering specific buy points include: Cup bases PCLN 561.98, AG 85.84, BDX 89.83, VPHM 22.26, ALB 71.89, NUAN 23.03, QCOM 59.94, TRN 38.10, ACOM 45.89, POT 61.90, IRM 35.60, WAT 100.10, RVBD 44.80, GSM 24.90, CLR 73.58, HP 70.56, PXP 40.16, WTI 28.89. Double bottoms are KMX 35.10, EBAY 34.75, LYB 44.31, WLK 57.64, ORCL 34.40, APKT 77.61, ALXN 51.08, JBL 21.78, APC 80.85, BHI 76.75, XOM 83.85, NBL 94.11, OXY 109.09, AA 16.93 (earnings Mon after bell), FCX 58.85. VRX 55.10 in a flat base pattern and DGX 61.31 in a 3 weeks tight base.

Stocks that can be bought as they reclaim their 10 week MAs and their buy stop spots are MXIM 26.50, AKAM 32.40, RJF 34, DIS 40.40, VRSN 34.95, ADSK 41, DOW 36.85, RAI 38.40. TXT DAR SCCO all retook their 10 week MAs Friday. Stocks near 50 day support are ABV 32, ANF 71, LTD 39, MW 32.80, PETM 44.10, CAR 17.05, WYN 33.50, CAH 44.95, CI 49.10, XRAY 38.05, HS 44, ILMN 73.40, UNH 50, EMN 102, CBS 27, VIAB 50, CNI 76.75, KSU 56.25, STT 45, HON 58.75, MWV 33, ROP 82, UTX 86.75, SAPE 14.40, DHR 53.30, TMO 63.05, NTGR 41, ABB 26, PH 88, TKR 50, ALTR 46.05, SMTC 27, XLNX 35, WBC 68, APA 122, CXO 91.75, OXY 104, BTU 58.80, PXD 90, WY 21.50, BHP 93, ABX 45.50. Stocks that found 50 day support Friday were HOT AET LYB CTXS ORCL SAP APKT TROW MOS EMC CBE X ATML CMI XOM SU VLO PAAS.

Stocks that can be bought as they retake their 40 week MAs and their buy stop spots are MAR 38.20, HOT 58.50, TROW 62.50, IPI 33.50, MOS 73.50, RS 51.25. Stocks near 200 day support are STJ 45.50, EXPD 51.50, EMR 56.50, PAYX 31, APH 53.30, OPEN 82, IR 45.25, MCHP 36.10. Stocks that received 200 day support Friday were LVS ADSK VRSN DIS KKR AGU NTAP ATI KLAC CAM. Stocks that can be shorted at 200 day resistance are JCP 34.10, TXT 24.15, AVT 33.05, NBR 25. AMP TXN TCK all met 200 day resistance Friday. Put in a sell stop to short DKS @35.60, if it breaks down and loses it 200 day MA. SOA EOG both lost their 200 day MAs Friday.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are HNZ 52.75, COST 80.40, YUM 54.45, HUM 79, UNP 101.70. DKS WLP DOW FLIR HK all lost their 50 days Friday. Stocks that can be shorted at 50 day resistance are ANN 28, ZMH 65.65, INTU 52.60, MSI 46.10, LAZ 37.95, FCS 17.85, HES 75.30, MUR 66.75. RS DVN HES WMB all met 50 day resistance Friday.

As the market continues to churn higher, we can again look at stocks close to breaking thru "par" or 100. Stocks which have done that traditionally tend to continue to move higher. FOSL LULU CAT all have moved higher swiftly, FOSL LULU more than 20 dollars so in the last 4 weeks, after reclaiming par. Stocks on the verge of breaking thru par soon here and must be watched are FDX ADS WAT JOYG BHP CLF.

Good luck.

The author owns FCX DE.

Thursday Recap

Markets continued its winning ways Thursday as some early economic news gave the markets a boost. Strong retail sales and a benign employment report sent the indexes thru some recent buy points. The Nasdaq led the way with a 1.36% gain, in the process taking out its double bottom trigger point at 2835.44 on good volume. The S&P 500 also took out its double bottom buy point of 1345.30. It rose 1% on less convincing volume. A couple more leading stocks broke out today from cup bases. UTX @90.77 and KEG @19.03. Retail was strong today with the strong sales number alluded to earlier. Stocks in the sector that hit all time highs today included BBBY LULU NKE RL TIF VFC. FOSL COH also hit all time highs intraday only to have negative reversals and finish in the red. Chips were strong today with the SMH up 2.24% and retaking its 10 week MA. KLAC rose 7% in the group. Software was hot today as well, with both SAP ORCL rising more than 4%, and both reclaiming their 50 day MAs today. FDX hit a 52 week high. Leisure stocks also outperformed with WYNN hitting an all time high, and PCLN HOT strong Thursday. Not much on the earnings front Friday, but AA NVLS kick off the traditional start to the earnings season Monday, both reporting after the close. Of course the big employment report comes out Friday am at 830.

Stocks offering specific buy points include: Double bottoms ABB 27.19, ALTR 49.01, MCHP 39.77, APC 80.85, BHI 76.75, CXO 97.42, XOM 83.85, NBL 94.11, OXY 109.09, PXD 94.99, SGY 32.99, AA 16.93, KMX 35.10, EBAY 34.75, ALXN 51.08, LYB 44.31, ORCL 34.40, APKT 77.61, EXPD 53.20, AGCO 52.50, EMR 61.39, TYC 51.90, PAYX 32.40, VCLK 18.27, APH 57.44, JBL 21.78. Cup bases are CRL 42.94, VPHM 22.26, PVH 71.91, QCOM 59.94, TRN 38.10, DD 57.10, HON 62.38, IRM 35.60, A 55.43, WAT 100.10, RVBD 44.80, AME 47.10, JOYG 102.27, GSM 24.90, ARMH 32.28, COP 81.60, HP 70.56, PXP 40.16, RRC 59.74, SPN 41.11, WTI 28.69. ALB 71.89 in a flat base.

Stocks that can be bought as they retake their 10 week MAs and their buy stop spots are RAI 38.40, ANN 28.25, ADSK 41.15, RJF 34, AKAM 32.25, JNPR 34.30, IR 47.40, NUE 42, TXN 33.75, SCCO 33.90. Stocks that retook their 10 week MAs today were CAR SYK ZMH DOW LYB WLK FLIR AGCO BG DE DVN VLO. Stocks near 10 week support are ABV 32, PETM 44.05, RCL 38, XRAY 38.05, ILMN 73.25, UNH 50, CBS 27, ACOM 39.75, IPI 31, EMC 27.30, PH 88, X 44.50, SMTC 27, SU 40.25. CCK IP ADI HK.

Stocks that can be bought as they reclaim their 40 week MAs and their buy stop spots are MAR 38.20, EFX 35.95, TROW 62.60, AVT 33.25, NBR 25.30. Stocks that retook their 40 weeks MAs today were LVS HOT ADSK DE MT KLAC TXN DVN TCK. Stocks near 40 week support are KKR 15.20, AGU 87, ATI 60.20, CAM 50.80. EOG UPL both found 40 week support today. Stocks that can be shorted at 40 week resistance are TXT 24.15, JDSU 17.20. TROW HES NBR BTU WLL all met 40 week resistance Thursday.

Stocks that can be shorted as they lose their 10 week MAs and their sell stops are HNZ 52.75, COST 80.30, YUM 54.50, AET 43.25, WLP 77.60, OPEN 86, WMB 30. AEM lost its 10 week today. Stocks that can be shorted at 10 week resistance are STJ 49.90, INTU 52.70, VMED 31.30, LAZ 38, ARW 42, MTL 25.95, FCS 17, MUR 66.95. Stocks that met 10 weeks resistance today were INTU VRSN AMP DAR ARW MXIM NXPI.

WOR has now held its bullish gap up tightly for 4 days, as did ACN recently. Good action.

Good luck.

The author owns DE FCX.

Wednesday After Market

Markets continue to climb the proverbial "wall of worry", with the Nasdaq closing higher for the 7th straight day. Volume was slightly stronger. The indexes are hovering around possible double bottom buy points. The Nasdaq tried to clear it today but retreated and closed just below it. The S&P 500 is about 6 points from its trigger point. More breakouts surfaced today with two leading stocks clearing double bottom buy points. RAX 44.81 and MON 74.56. Leading stock ACN has bullishly held its earnings/S&P 500 inclusion gap very well. Markets did react positively to poor news early in the am, with China raising both interest rates and reserve requirements. We left impressed with the strength FCX showed today after the Chinese announcement. Chips were weak, while transports outperformed. Tomorrow brings jobless claims and ADP employment report.

Stocks offering specific buy points are: Cup bases are COST 84.00, BDX 89.83, CRL 42.94, PVH 71.91, ARBA 35.94, NUAN 23.03, DD 57.10, MMM 98.05, UTX 90.77, IRM 35.60, WAT 100.10, AME 47.10, JOYG 102.27, GSM 24.90, ARMH 32.28, HP 70.56, KEG 19.03, NOV 80.75, RRC 59.74, SPN 41.11. Double bottoms are KMX 35.10, EBAY 34.75, WYN 35.34, DECK 93.74, APKT 77.61, EMR 61.39, PAYX 32.40, VCLK 18.27, MCHP 39.77, WPRT 26.05, APC 80.85, BHI 76.75. Flat base is FO 65.58.

Stocks that can be bought as they reclaim their 10 week MAs and their buy stop spots are RAI 38.40, DOW 36.95, LYB 40.35, SOA 23.75, WLK 55.25, ORCL 33.40, SAP 61.80, VRSN 35, AKAM 32.40, AGCO 50.45, BG 71, DE 86.35, IP 30.50, ARW 42.25, XOM 82.25, PAAS 32.10. CTXS CBE AEM all retook their 10 week MAs today. Stocks near 50 day support are COP 54.75, HNZ 53, ABV 32, EAT 24.60, M 27.90, PAG 21, PETM 44, YUM 54.85, AET 43.50, ALXN 47.20, XRAY 38, VRX 51.40, IFF 63, ALB 68, DISH 29, CBS 27, VIAB 50, CSX 25.50, ACOM 39.25, IPI 31, HON 58.80, MWV 33, ROP 82, ADS 53.40, A 49.75, TMO 63, EMC 27.40, NTGR 40.95, PH 88, X 44.70, ALTR 46.25, CY 20.40, NVLS 35, SMTC 27, BHI 72, NBL 88.40, OXY 104, SGY 30.40, WY 21.50. Stocks that found 50 day support today were PEP ANF EMN APKT COF WDR MOS CCK MCO JBL OPEN BRCM CMI APA CXO BTU PXD AA.

Stocks that can be bought as they reclaim their 40 week MAs and their buy stop spots are BTU 61.60, DVN 80.60, CAM 41.30, AVT 33.25, TROW 62.25, RJF 34, EFX 35.90, ADSK 39.75, LVS 44.50. AMP retook its 40 week MA today. Stocks near 40 week support are VRSN 34, ETN 50.20, EMR 56.55, APH 53.25, IR 45.15, ADI 37.85, MXIM 24.65, SU 39.45, SUN 41. STT AGU FCX all found 40 week support today. Stocks that can be shorted at 40 week resistance are JDSU 17.20, TXN 33.10, HES 76. HOT NBR TCK all met 40 week resistance today. Stocks that can be shorted as they lose their 40 week MAs and their sell stop spots are ANN 25.50, JCP 33.60, DIS 39, ATI 59.75, FCS 16, EOG 101.25. WLT lost its 40 week MA today.

Stocks that can be shorted at 10 week MAs are FLIR 34.50, TXT 23.10, INTU 52.75, VMED 31.30, LAZ 38, NUE 40.95, RS 50.20, NXPI 27.15, VLO 26. CAR SYK met 10 week resistance today. Stocks that can be shorted as they lose their 10 week MAs and their sell stop spots are DKS 38.75, LTD 38.75, RCL 37.40, WLP 77.75, ARUN 28.75, ABB 25.75, ATML 14.05, WMB 30. CCL DAR both lost their 10 week MAs today.

Good luck.

The author owns DE FCX.

Tuesday Recap

Markets finished little changed Tuesday after a long holiday weekend. It must be considered bullish that the market refused to yield any of the huge gains they amassed last week. The Nasdaq even closed in the black, extended its streak to 6 consecutive sessions of gains. Volume was lower once again. A look at leading stocks, always a good barometer to market health, drew a very benign picture. NFLX ILMN both emerged from bases today, staging powerful breakouts. Other leaders that hit all time highs today, not just 52 week highs, were LULU AMZN CMG DLTR FOSL MCD SBUX TIF TSCO NFLX HS WPI WCG HLF CE COH IBM. A diverse bunch. GOOG, which reclaimed its 50 day MA Friday after spending almost all of this year below that line, tacked on an additional 2% today. Takeovers were in the news today as well as BLUD rocketed higher after announcing its being taken private. NOV also reported it will be acquiring AMN. Gold and silver producers were among the winners while banks lagged. Not much on the earnings front, but the day is filled with economic reports. ISM, Challenger job cuts, Redbook, Goldman retail chain sales all are announced Wednesday.

Stocks offering specific buy points include: Double bottoms KMX 35.10, WYN 35.34, ALXN 51.08, DECK 93.74, APKT 77.61, RAX 44.81, MON 74.56, MWV 34.12, AAPL 352.23, EMC 28.70, APA 125.54, APC 80.85, BHI 76.75, CVX 105.31, NBL 94.11, OXY 109.09, PXD 94.99, SGY 32.99, WMB 31.83, AA 16.93. Cup bases are CAKE 34.10, NUAN 23.03, ACOM 45.89, AH 30.75, IRM 35.60, AME 47.10, HP 70.56, NOV 80.75, SPN 41.11. Flat bases CPO 58.01, VRX 55.10.

Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are RAI 38.40, DOW 37.05, LYB 40.55, WLK 55.25, FLIR 34.65, CTXS 81.85, INTU 53.05, ORCL 33.50, SAP 62, DIS 40.60, AGCO 50.80, BG 71, DE 86.30, CBE 62, PAAS 32.40, SCCO 34.10. Stocks that retook their 50 day MAs today were ANF LTD ALXN APKT WDR MOS OPEN ARMH CXO PXD ABX. Stocks near 50 day support are HNZ 53, PAG 21, SHW 84, RCL 38, AET 43.50, XRAY 38, DGX 58.25, VPHM 18.50, WLP 78, ALB 68, EMN 102.50, CBS 26.90, CSX 25.50, UPS 72.50, BLL 38.25, HON 58.90, ROP 82.25, A 49.60, APH 53.40, DHR 53.50, JBL 20.10, TMO 63, WAT 96, ITW 56.55, PH 88, ALTR 46.25, SMTC 27, XLNX 35, WBC 68, HK 25, RDSA 70.80, WY 21.50, BHP 93.40. Stocks that found 50 day support today were DKS CAR CCL ENDP COF CCK MCO AB CY CMI WLT WMB.

Stokcs that can be bought as they retake their 200 day MAs and their buy stop spots are LVS 44.50, ADSK 39.85, IPI 33.50, AVT 33.50, DVN 80.75, BTU 61.75. Stocks that retook their 200 day MAs today were HOT VRSN TCK. Stocks near 200 day support are JCP 34, DIS 39.50, EXPD 51.30, KKR 15.25, STT 44.70, AGU 87, EMR 56.55, IR 45.10, ATI 60, MXIM 24.60, MCHP 36.10, SUN 41. JCP PAYX found 200 day support today. Stocks that can be shorted at 200 day resistance are RJF 33.75, RS 50.75. JDSU AMP MT KLAC CAM DVN NBR. ANN can be shorted as it loses its 200 day with a sell stop at 25.60.

Stocks that can be shorted at 50 day resistance are STJ 50, ZMH 65.60, VMED 31.50, AKAM 32.40, NUE 42, RIG 66, VLO 26. Stocks that met 50 day resistance today are SYK SOA INTU ORCL LAZ TROW DAR DE VCLK MS ARW NXPI TXN MUR SU AEM MCP. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are PEP 69.40, COST 80.40. TXT MSI IP ADI.

We sold XOM for a $4 gain today as it met 50 day resistance. However, I leave impressed with XOM strength after the weekend news of a pipeline spill in the Yellowstone River.

Good luck.

The author owns FCX DE.

Weekend Warrior

Markets Friday ended strongly, capping off a week of some extremely impressive gains. The Nasdaq finished the week up 6.1% (not a typo), and now it is only 2.5% off its 52 week high. Since January 1st the Nasdaq is now up 6.2%. The S&P 500 closed the week up 5.6%, and rests now 2.3% off its 52 week high. For the YTD the S&P 500 is now up 6.5%. In last weeks weekend roundup we did stress that the 3 very tight weekly closes were signaling a big move. We just were waiting to see which direction that move would go. This week was unequivocal. Being the technicians the indexes have put forth some very constructive action recently. The S&P 500 which never lost its 200 day MA on a closing basis, demonstrating wonderful relative strength, reclaimed its 50 day MA this week as well. A look on the daily chart shows the S&P 500 forming a bullish double bottom buy point as well. 1345.30. A look on its weekly chart shows a cup with handle base forming with a 1370.68 trigger point. The Nasdaq which lagged somewhat recaptured both its 50 and 200 day MAs this week. A look on its daily chart shows a double bottom formation with a trigger at 2835.44. A longer term view if this rally has legs is a peek at its weekly chart which shows a cup with high handle trigger of 2887.85. Of course we as traders are both short and long term participants, and we became bullish last week. Money can be deployed to good risk reward set ups. Two caveats we must be cognizant of was the swiftness this rally has displayed and the low volume that accompanied it. Low volume is traditional this time of year, especially preceding a holiday weekend. But the tape does not lie, and we must respect the action it has put forth. A look at leading stocks that have broken out and have maintained and trended higher, always a good sign, are FMC FAST LULU PX SBUX. The rally this past week was broad, with lots of economically sensitive sectors surging. Energy was of course strong, but other groups showed just as much muscle if not more. Machinery stocks plowed ahead, no pun intended. JOYG up 12%, ROK 10% and CAT 9% for the week. Transports motored ahead as well. EXPD up 10%, CSX UNP 7%, and CHRW 6% on the week. Engine makers CMI up 11% and ETN 9% on the week. Even credit card stocks charged ahead, again no pun intended. AXP up 8%, DFS 7%, COF 6%. Leisure stocks WYN HOT PCLN MAR WYNN all had great weeks. I think you get the picture. Factory orders get reported Tuesday morning.

Stocks offering precise buy points and they are getting plentiful are: Double bottoms MON 74.56, SWC 23.25, FCX 58.85, BHP 96.08, AA 16.93, MCHP 39.77, ALTR 49.01, AAPL 352.23, OMC 49.73, TYC 51.90, MWV 34.12, WMB 31.83, SGY 32.99, OXY 109.09, NBL 94.11, XOM 83.75, CVX 105.31, BHI 76.75, APC 80.85, TKR 52.49, KKR 17.45, ADS 95.37, APH 57.44, UPS 75.68, ORCL 34.40, ABB 27.19, WYN 35.34, CAR 17.97, SOA 25.19, EMN 106.34, PVH 68.56, DECK 93.74. Cup bases are UA 80.10, AGN 85.84, BAX 60.60, WLP 82.02, COST 84.00, PAG 23.34, YUM 57.08, JOYG 102.27, PLL 58.99, WCN 32.79, A 55.43, TMO 65.96, GSM 24.90, COP 81.60, HP 70.56, KEG 19.03, NOV 80.75, RRC 59.74, SPN 41.11, WNR 19.14, MMM 98.05, UTX 90.77, ILMN 76.91. Flat bases are ALB 71.89, ABC 42.60, MSI 48.01. Cup with handles are M 30.10, AET 46.11. Cup with high handle is CRM 154.09.

Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are DOW 37.25, LYB 40.75, SOA 23.75, COV 54.95, ZMH 65.90, CBE 62.25, IR 47.75, CTXS 81.75, ORCL 33.60, SAP 62.25, ARW 42.50, KKR 171.0, CHK 30.45, CXO 93, HES 76.50, MDR 20.60, NE 40.25, BTU 59.80, PXD 91.40, SU 40.95, VLO 26.30, WFT 19.30, PAYX 31.55, VCLK 17.25, APKT 73.60, ARMH 29, KLAC 41.95, MXIM 26.50, MCHP 38.85, NXPI 28.10, TXN 34, SCCO 34.25, MOS 68.75, DE 86.30. Stocks that retook their 50 day MAs Friday were CAR MAR RCL HLS SYK VPHM DKS PIR ABB ITW CHRW JBL MOLX PKI TTMI COF TROW GTI CVX XOM OXY HK RDSA SE SGY WMB CCK IP DHR ADP MCO AAPL PCS MSI ADI CY BRCM AA CMI ENDP PSA. Stocks near 50 day support are CHKP 54.30, NAUN 21, TIBX 27.90, X 44.80, SLB 84, HON 58.95, EMC 27.50, QCOM 56, TWC 76.25, ADI 39.50, SMTC 27, BHP 93.80, POT 54.25, AGU 84.80, IPI 31, ACOM 38.50, RAX 42.10. Stocks that received 50 day support Friday were APA BHI NBL RDC WAT WSH ARUN.

Stocks that can be bought as they break through their 200 day MAs and their buy stop spots are LVS 44.25, HOT 58.75, AVT 33.25, TROW 62.30, TS 46.20, CAM 50.85, NBR 25.25, TCK 53, JDSU 17.25, DE 85.75, JPM 42.95. Stocks that retook their 200 day MAs Friday were BID DIS CBE EXPD AMP MT BP NFX EMR PAYX TXN VALE. Stocks near 200 day support are ATI 60, FTI 42.75, VECO 46.30. Stocks that found 200 day support Friday were ANN CXO EOG NE PXD SUN OPEN. Stocks that can be shorted at 200 day resistance are ADSK 39.55, IVZ 24, DVN 80. Stocks that found 200 day resistance Friday were LVS VRSN TS CAM HES NBR TCK. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are PAY 42, EOG 101.50, OPEN 81.

Stocks that can be shorted at 50 day resistance are STJ 50.15, ANF 71, LTD here, MUR 67.50, FCS 18.05, LRCX 46, AEM 63.75, ABX 46, PAAS 32, SLW 34.75. Stocks that encountered 50 day resistance Friday were SOA CTXS CHK HES NFX BTU PBR KLAC MCP MOS. DAR lost its 50 day MA Friday.

Good luck.

The author owns XOM DE FCX.