Saturday, August 13, 2011

Weekend Stock Reflections

Markets settled down Friday after a roller coaster of a ride from Monday-Thursday. For the week the Nazz finished down 1%, continuing its out performance for the week. The S&P 500 lost 1.7%, not bad considering it was lower intra week by 8% at one point. The small 1% moves for the indexes Friday were a welcoming sign. An index of leading stocks (from Investor Business Daily), showed a gain of 0.9%. Not a bad sign. Also some macro developments this week showed promise. Jobless claims fell and retail sales rose. Some judicial news that was bearish for health care stocks (an Atlanta circuit appeals courts found the individual mandate in Obamacare was unconstitutional), was construed bullsihly. When stocks such as AET CI UNH, respond positively to bad news (all three regained their 200 day MAs), it has to be interpreted bullishly. Gold miners and ag stocks shined. Banks were hit hard last week, with BAC down 12%, MS having a bearish outside reversal Friday, and AXP meeting 200 day MA resistance to the penny. With the market still in correction mode now is the time to be building watch lists. Keeping an eye on recent IPOs is a good idea. GNC, which is still holding above its 50 day MA, a rarity these days and QLIK should be put on your radar. A EL both report before the bell Monday.

Stocks than can be bought as they reclaim their 50 day MAs and their buy stop spots are TGI 49.30, AMZN 205, AN 36.25, BBBY 56.30, FAST 33.55, ORLY 62, SAH 14.40, SBUX 38.25, CL 86.40, HLF 56.50, HSY 56.50, MON 71, MOS 67, POT 56.25, EXPE 29.25, WYNN 148, CHKP 56.25, VPHM 18.50, ABV 31.75, PM 68.30, MTZ 19.60, HLX 16.95, WCN 32, WPRT 23.90. Stocks that retook their 50 day MAs Friday were LULU DLTR KO DECK IACI. Stocks near 50 day support are MCD 84.40, TJX 52.90, CHD 40.65, KO 67, CROX 26, GNC 21.55, V 82.50, CHK 30.75, SM 72.50. TJX IACI SINA ALXN AEM all found 50 day support Friday.

Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are GR 88.50, EBAY 31.30 M 25.85, PAG 19.20, DPS 38.25, DPS 38.25, NKE 84.95, PVH 65.25, HOG 38.30, LVS 45, FTNT 20.55, INFA 49.50, AGN 75.35, HS 36.30, GSM 20.75, CE 44.80, CVX 98.25, NBL 89.40, WMB 28.40, CNI 72, ARMH 26. Stocks that retook their 200 day MAs Friday were FOSL PETM ROST HNZ AET CI UNH PTEN. Stocks near 200 day support are DSW 42.75, DG 31, FAST 31.10, ORLY 59.05, TIF 66, TSCO 55.25, BGS 16.50, HRL 27.10, QLIK 27.10, GSK 40.30, PLCM 24.50, CBS 23, VIAB 45, HFC 67.50, KSU 52.80, NSC 67.40, ACN 53. Stocks that found 200 day support Friday were WFM DAR VMW FRX CPX HAL HP KSU SLW ABX. Stocks that can be shorted at 200 day resistance are COST 74.75, GPC 52, COH 57, ICON 21.20, WYN 31.10, BAX 54, NCR 17.65, MSI 41, ALB 60.10, LYB 36.50, MHP 39, SWN 40, SPN 36, JBHT 43, MCO 32.90, BWA 71.90. Stocks that found 200 day resistance Friday were GR M LTD YUM NKE CRM AXP CAH VPHM GSM PX APC SGY WTI WMB CNI BLL.

Stocks that can be shorted at 50 day resistance are EAT 24.30, PETM 43.95, TUP 65.25, CERN 61, EZPW 33.10. Stocks that met 50 day resistance Friday are ANF AMZN AN EAT JWN SAH EL PCLN WYNN DFS ABV GPOR ROSE WNR.

Good luck.

The author owns WNR FCX.

No comments:

Post a Comment