Markets Friday again looked to be loping around. A closer looked revealed some continuing concerns. The Nasdaq itself has been having trouble with the 2800 level. 5 of the last 6 days the index has been above that 2800 level intraday only to finish below it. Indexes have been opening on their highs and closing near their lows. Classic bearish behavior. That being said volume came in well below average. Leading stocks, the real barometer to gauge the health of the market, have been giving conflicting signals. Stocks like WLT LULU ANF CE INFA TIBX UA all remain slightly above their recent breakout points, while CAVM CMG HAL HS hover just below theirs. Stocks hitting all time highs Friday were APC BKE CVX RDSA BHP PAAS TPX LYB TSCO. Gold hit a record high Friday and oil spiked up more than 2%. Silver climbed almost 3%. Gold and silver miners obviously outperformed Friday, while steel, transports and semis were weak. SMH flirted with taking out its 50 day MA resistance, but closed below it once again. Bull/bear surveys remain near elevated levels, which could cause some short term weakness. This bull which commenced in March 2009, is not long in the tooth and plenty of gains can lie ahead, but a short term correction could be just what the doctor ordered. AA kicks off the traditional opening of earnings season after the bell Monday.
Stocks near specific buy points include: Double bottoms ARMH 31.43, FCS 19.60, AEM 76.59, VALE 34.99, AMZN 191.50, LVS 50.75, EXPD 55.21, BGC 44.85. Double bottoms with handles are CMI 113.75, ETN 56.52, RHT 47.98, WCRX 24.43. Flat bases are NOV 82.90, CXO 110.99, WMB 31.99, TDC 51.50, PETM 43.49, AMP 65.22. Cup with handles are DVN 93.66, XOM 88.33, INTU 54.33, MMC 31.18. Cup bases are AVGO 34.69, ABV 32.10, BBD 22.64. 3 week tight pattern is CBI 42.59.
Stocks which can be bought if they can retake their 50 day MAs and their buy stop spots are SPRD 20.60, TXN 35.60, LDK 12.85, SCCO 42.25, VMW 84.25, IVZ 26.25. PMTC retook its 50 day Friday. Stocks near 50 day support are PAG 19.50, ARMH 28, ALTR 41.50, MCHP 37.05, MT 36.10, GSM 22, RS 55.50, A 43.90, DHR 50.40, WAT 83, CAT 105, CBE 64.10, JOYG 95, PLL 56, ROK 88, APC 80, FTI 46.25, BHI 70, BEXP 34, CNQ 47.80, COP 77, HAL 46.25, NBL 91.75, PTEN 26.90, BTU 67, PBR 39, PXD 99.25, CLR 66, RDC 40.25, TCK 56, MRO 50, CLF 93, UA 67, DKS 38.50, DE 92.50, ARUN 29.80, HS 36, EL 92, MCD 75, JWN 44, PETM 41.10, SBUX 34.20, WFMI 60, DD 54, EMN 95, PX 98, NFLX 220, BX 17.60, KKR 16.85, CTSH 77, ADP 50, KBR 34.50, BMC 49.20, ORCL 32.55, TIBX 25, CTXS 70, CHRW 73.25, CSX 75, CNI 72.25, EXPD 50, JPM 46, WDR 39.75, PAY 49, TTMI 17.20, BEAV 36, CVLT 36, APKT 71, MTW 20, HON 57, ROC 47, CBI 37, IT 38.50, WLP 67, CBS 23, DTV 45.
Stocks near 200 day support are ALV 69.25, LLTC 32.50, MSCC 20, NVLS 31, NVDA 15, SWKS 25.50, X 50.10, TEL 31.90, WFT 19.50, APH 50.10, COH 48.10, SHLD 73, AAPL 309, JNPR 34.20, RVBD 29.75, MON 62.50, GOOG 560, RCL 38, LEN 17, FDX 88, GLW 19.05, FNSR 23, CRUS 18, GR 81, MOLX 22.50. Stocks which found support at their 200 day MAs Friday were MGA BRCM JKS SCCO BAC AMT. ROVI encountered 200 day resistance. CCL MAR are falling further below their 200 day MAs. Stocks that can be shorted if they lose their 200 day MAs and their sell stop spots are HOT 55.40, MS 26.70.
Stocks that can be shorted if they pierce their 50 day MAs to the downside and their sell stop spots are ALV 69, BWA 74, TKR 49.50, DOV 64.25, HES 82.25, MDR 23.50, SLB 89.70, SUN 43, VLO 27.55, ATW 43.60, FWLT 35.75, RL 121.50, ROST 69.50, TIF 60.75, URI 31, SWK 74, ADSK 41.50, CHKP 49, VRSN 35.50, UNP 94.25, RJF 37.10, TER 17.50, ARBA 30.50, CCK 37.50, WBC 59.50, AET 36.10. Stocks that can be shorted at 50 day resistance are TRW 57, ADI 39.40, ATML 13.95, CY 20.85, LLTC 34.05, JBL 21, CAM 58, EMR 59.50, EMC 26.50, PLCM 47.75, ADM 36, TEX 35.90, EBAY 32, YUM 50.50, DIS 42.30, PAYX 32.55, WY 24.10, KSU 53, LAZ 43.25, QCOM 55.50, XLNX 33, ASML 43.10. Stocks that lost their 50 day MAs Friday were ATI MTL NUE AVT RIG PLCM ADM VSEA EAT AGCO POT TEX FLR WY FDX KSU UPS GS SNDK. Stocks which found 50 day resistance Friday were LRCX ADI MSCC EMC EBAY DIS VMW LAZ ASML GR WU.
Good luck.
We reentered FCX at 58.06 Friday. Of course it closed below that price Friday as it fell late in the day. I am concerned that it has closed weakly both Wednesday and Friday, amid record high gold prices and copper strength. JJC is nearing all time highs here.
The author owns FCX TTM RAX F.
Saturday, April 9, 2011
Friday, April 8, 2011
Thursday Recap
Markets closed basically flat Thursday. Concerns over another 7.4 magnitude earthquake in Japan affected indexes, but they rallied back from the lows. Retail performed nicely as same store chain sales for the most part exceeded forecasts. Leading stocks were quiet Thursday with some still hovering just below their former buy points. These include DE JOYG HAL. Others like INFA LULU OPEN still remain above buy points. Chips were weak as once again you guessed it. SMH found resistance once again right at its 50 day MA. The more that line is bumped up against, the more likely it is it burst through it. But wait for it to be confirmed. Put in your buy stop at 35.40. AAPL continues to languish below its 50 day MA for the time being, as the Nasdaq continues to have difficulty closing above the 2800 level. The S&P 500 is nearing its cup with handle buy point at 1344. Not much in the way of economic reports or earnings, however AA kicks off the new earnings season on Monday after the close.
Stocks near specific buy points include AGCO 56.13 in a double bottom with handle base. Double bottoms without handles are R 52.31, STT 47.90, BEAV 39.05. Cup bases are TYC 47.43, WDR 42.30, BBD 22.64. Flat bases are AMP 65.22, VRSN 37.67. Cup with handles are NCR 20.72, MMC 31.18. LTD broke out Thursday from a 35.58 cup base buy point.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are LLTC 34.30, MSCC 21.80, TXN 35.40, LAZ 43.60, GR 88. Stocks which retook their 50 day MAs Thursday were AVT GS IL. Stocks near 50 day support are ARMH 28, ALTR 41.40, AVGO 31.75, FCS 18.10, MCHP 37.05, MT 36.20, GSM 21.90, A 43.60, DHR 50.50, CBE 64, DOV 65.10, JOYG 94.50, APC 80, FTI 46.25, CNQ 47.50, CHK 32.60, DVN 89.60, HAL 46.25, NBL 92, PTEN 26.85, BTU 66.80, PBR 39.05, CLR 66.25, RDC 40.50, SLB 90.25, SUN 43.05, TCK 56, WMB 29.50, RIO 70, SWC 23, CBG 25.55, CBS 23, DTV 45, ETN 54, BLL 35.95, RL 122, TPX 48, DKS 38.75, TDC 48.25, EL 92, MCD 75.15, SBUX 34.25, DD 53.90, LVS 44, WYN 31, KKR 16.75, URI 31.30, IBM 162, SWK 74.50, ADSK 42, BMC 49.20, ORCL 32.55, RHT 43, TIBX 25, CHRW 73.75, EXPD 50, JPM 46, PAY 49, TER 17.95, CVLT 36, ARBA 31, APKT 70, BGC 42.50, WLP 67, HS 36, AET 36.85. Stocks which found 50 day support Thursday were BWA BP OXY SU VALE ADM AGU POT ARUN OMC CRM KSU UNP UPS RJF SNDK VSEA WCRX CMCSA.
Stocks near 200 day support are ALV 69, MGA 46.50, SWKS 25.25, X 50.10, JKS 24.75, APH 50.15, COH 48.15, RVBD 29.40, YUM 47.50, RCL 38, HOT 55.60, BAC 13.40, XLNX 29, CRUS 18, AMT 50.10. BRCM found 200 day support Thursday, while RIMM found 200 day resistance. SCCO ROVI both lost their 200 day MAs Thursday. As evidenced recently by HPQ NTAP TGT, when you lose your 200 day MA it usually is not a bullish action.
Stocks looking weak and which can be shorted as they lose their 50 day MAs and their sell stop spots are BWA 75, CXO 102.25, BHI 69.50, HES 82.50, VLO 27.90, ATW 43.50, CPX 28.10, PLCM 47.60, ROST 70, HON 56.75. Stocks that can be shorted at their 50 day MAs are ATML 13.90, JBL 21, EMC 26.50, PAYX 32.55, ADTN 44, SYK 61.10. Stocks that lost their 50 day MAs Thursday were ALV TEX DIS WY ASML. Stocks that encountered 50 day resistance Thursday were ADI MXIM EBAY YUM PAYX PMTC GR. Stocks showing relative weakness Thursday were KLAC LRCX NVLS SWKS NFLX.
Good luck.
We sold FCX yesterday as it looked like for a second day it would reverse lower. I was faked out. We did make $2.50 on the trade, but as gold trades at another record high and copper strong as I write Friday morning, I was wrong. I will look to reenter today as near to its 57.74 double bottom buy point.
The author owns TTM RAX F.
Stocks near specific buy points include AGCO 56.13 in a double bottom with handle base. Double bottoms without handles are R 52.31, STT 47.90, BEAV 39.05. Cup bases are TYC 47.43, WDR 42.30, BBD 22.64. Flat bases are AMP 65.22, VRSN 37.67. Cup with handles are NCR 20.72, MMC 31.18. LTD broke out Thursday from a 35.58 cup base buy point.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are LLTC 34.30, MSCC 21.80, TXN 35.40, LAZ 43.60, GR 88. Stocks which retook their 50 day MAs Thursday were AVT GS IL. Stocks near 50 day support are ARMH 28, ALTR 41.40, AVGO 31.75, FCS 18.10, MCHP 37.05, MT 36.20, GSM 21.90, A 43.60, DHR 50.50, CBE 64, DOV 65.10, JOYG 94.50, APC 80, FTI 46.25, CNQ 47.50, CHK 32.60, DVN 89.60, HAL 46.25, NBL 92, PTEN 26.85, BTU 66.80, PBR 39.05, CLR 66.25, RDC 40.50, SLB 90.25, SUN 43.05, TCK 56, WMB 29.50, RIO 70, SWC 23, CBG 25.55, CBS 23, DTV 45, ETN 54, BLL 35.95, RL 122, TPX 48, DKS 38.75, TDC 48.25, EL 92, MCD 75.15, SBUX 34.25, DD 53.90, LVS 44, WYN 31, KKR 16.75, URI 31.30, IBM 162, SWK 74.50, ADSK 42, BMC 49.20, ORCL 32.55, RHT 43, TIBX 25, CHRW 73.75, EXPD 50, JPM 46, PAY 49, TER 17.95, CVLT 36, ARBA 31, APKT 70, BGC 42.50, WLP 67, HS 36, AET 36.85. Stocks which found 50 day support Thursday were BWA BP OXY SU VALE ADM AGU POT ARUN OMC CRM KSU UNP UPS RJF SNDK VSEA WCRX CMCSA.
Stocks near 200 day support are ALV 69, MGA 46.50, SWKS 25.25, X 50.10, JKS 24.75, APH 50.15, COH 48.15, RVBD 29.40, YUM 47.50, RCL 38, HOT 55.60, BAC 13.40, XLNX 29, CRUS 18, AMT 50.10. BRCM found 200 day support Thursday, while RIMM found 200 day resistance. SCCO ROVI both lost their 200 day MAs Thursday. As evidenced recently by HPQ NTAP TGT, when you lose your 200 day MA it usually is not a bullish action.
Stocks looking weak and which can be shorted as they lose their 50 day MAs and their sell stop spots are BWA 75, CXO 102.25, BHI 69.50, HES 82.50, VLO 27.90, ATW 43.50, CPX 28.10, PLCM 47.60, ROST 70, HON 56.75. Stocks that can be shorted at their 50 day MAs are ATML 13.90, JBL 21, EMC 26.50, PAYX 32.55, ADTN 44, SYK 61.10. Stocks that lost their 50 day MAs Thursday were ALV TEX DIS WY ASML. Stocks that encountered 50 day resistance Thursday were ADI MXIM EBAY YUM PAYX PMTC GR. Stocks showing relative weakness Thursday were KLAC LRCX NVLS SWKS NFLX.
Good luck.
We sold FCX yesterday as it looked like for a second day it would reverse lower. I was faked out. We did make $2.50 on the trade, but as gold trades at another record high and copper strong as I write Friday morning, I was wrong. I will look to reenter today as near to its 57.74 double bottom buy point.
The author owns TTM RAX F.
Wednesday, April 6, 2011
Wednesday Recap
Markets from the outside looked to have a decent day. A mid day rally off the lows in decent volume. But a look under the hood and you will find poor action from leading stocks. OPEN had a nasty reversal from an all time high for example. Stocks such as WLT JOYG DE all of which have recently broke out closed slightly below their break out buy points. Not that this is uncommon, but it is certainly not welcome. And worse off was the days best performing sectors hailed from recent laggards. Banks and chips were strong. China raised interest rates, talks of interest rates here at home, and fears of a government shutdown are hanging over the market here. Energy stocks had plenty of reversals and the sector as a whole performed poorly. The Nasdaq has now had problems closing above the 2800 level since 2/22. It has knocked on that 2800 door 9 times since then. The market does seem to be stalling here as the new earnings season kicks in next week. Today MON had a negative reaction to its earnings report. Much like MOS last week. BBBY screamed higher after hours on a good earnings forecast. Nothing in the way of earnings tomorrow, and Thursday brings up jobless claims and chain store sales.
Stocks near specific buy points are SWN 44.06 in a cup with handle pattern. PETM 43.49 in a square box pattern. VRSN 37.67 in a flat base. Double bottoms are TAP 48.51, PMTC 24.53, CHRW 78.74. Cup bases are AAP 69.61, DD 56.29, LTD 35.58.
Stocks that can be bought if they can reclaim their 50 day MAs and their buy stop spots are LLTC 34.30, MXIM 26.30, MSCC 21.90, TXN 35.35, AVT 34.85, LDK 12.85, GS 162.60, LAZ 43.50. PMTC reclaimed its 50 day MA Wednesday. Stocks near 50 day support are BWA 75.50, ARMH 28, ALTR 41.25, FCS 18.10, LRCX 54, MCHP 37.05, ATI 65.75, MTL 30.80, NUE 47, A 43.55, DHR 50.50, DOV 65, JOYG 94, ROK 88, APC 79.75, FTI 46.25, BEXP 33.50, CHK 32.50, COP 76, DVN 89.50, XOM 83.75, HAL 46.25, MDR 23.60, PTEN 26.75, BTU 66.75, PBR 39, PXD 98, CLR 66.20, RDC 40.20, SLB 90, TCK 56, SPN 37.50, COF 50.50, CVLT 36, ARBA 31, ASML 43.15, BGC 42.25, HON 57.05, WLP 67, AET 36.65, CBS 23, CMCSA 24.50, ATW 44, WMB 29.40, OIS 72, SWC 23, ETN 54, SCCO 39.50, BLL 35.95, RL 122, TPX 48, TDC 48.10, ADM 36, AGCO 53, AGU 92, POT 58.50, ARUN 29, EL 91.95, JWN 44, ROST 70.10, SBUX 34.20, TIF 61.25, EMN 95, SOA 24, LVS 44, KKR 16.60, IBM 162, SWK 74.30, ADSK 42, ORCL 32.35, RHT 43, CTXS 69.80, CSX 74.50, EXPD 50, UPS 73.50, UNP 95.85. Stocks that found 50 day support Thursday were AVGO FCS CXO BP VALE DIS KSU MMC TER.
Stocks near 200 day support are MGA 46.50, NVDA 15, SWKS 25.20, X 50.10, TEL 31.70, JKS 24.50, APH 50.15, RVBD 29.60, GOOG 560, HOT 55.50, LEN 16.80, GLW 19.05, CRUS 18, AMT 50.10. Stocks that found 200 day support Thursday were ROVI BAC MS FNSR. RIMM found 200 day resistance today.
Stocks showing good relative strength today were ANF ADP NXPI BEAV. RDSA was a strong out performer in a weak energy group. BHP RIO also demonstrated good action Thursday among their peers. Stocks that should be put on a watch list as they build the right side of their bases are BUD ABV BBD TTM.
Stocks that can be shorted at their 50 day MAs are ADI 39.35, ATML 13.95, KLAC 47, NVLS 38, JBL 21, CAM 58, EMR 59.25, COH 54.20, EMC 26.50, PAYX 32.55, XLNX 33, ADTN 44, SYK 61.05. Stocks that can be shorted as they lose their 50 day MAs to the downside and their sell stop spots are ALV 74, CXO 102, BHI 69.50, HES 82, NOV 77.75, OXY 100, SU 43.75, CPX 28.10, PLCM 47.50, AMP 61, WY 24, CCK 37.40. Stocks that lost their 50 day MAs Thursday were MON (earnings), MOS CRM IL. Stocks that found 50 day resistance today were WFT EMR EBAY LAZ GR. Bearish outside reversals Thursday included DNR FTO MCP FWLT OPEN TEX.
Good luck.
The author owns FCX TTM RAX F.
Stocks near specific buy points are SWN 44.06 in a cup with handle pattern. PETM 43.49 in a square box pattern. VRSN 37.67 in a flat base. Double bottoms are TAP 48.51, PMTC 24.53, CHRW 78.74. Cup bases are AAP 69.61, DD 56.29, LTD 35.58.
Stocks that can be bought if they can reclaim their 50 day MAs and their buy stop spots are LLTC 34.30, MXIM 26.30, MSCC 21.90, TXN 35.35, AVT 34.85, LDK 12.85, GS 162.60, LAZ 43.50. PMTC reclaimed its 50 day MA Wednesday. Stocks near 50 day support are BWA 75.50, ARMH 28, ALTR 41.25, FCS 18.10, LRCX 54, MCHP 37.05, ATI 65.75, MTL 30.80, NUE 47, A 43.55, DHR 50.50, DOV 65, JOYG 94, ROK 88, APC 79.75, FTI 46.25, BEXP 33.50, CHK 32.50, COP 76, DVN 89.50, XOM 83.75, HAL 46.25, MDR 23.60, PTEN 26.75, BTU 66.75, PBR 39, PXD 98, CLR 66.20, RDC 40.20, SLB 90, TCK 56, SPN 37.50, COF 50.50, CVLT 36, ARBA 31, ASML 43.15, BGC 42.25, HON 57.05, WLP 67, AET 36.65, CBS 23, CMCSA 24.50, ATW 44, WMB 29.40, OIS 72, SWC 23, ETN 54, SCCO 39.50, BLL 35.95, RL 122, TPX 48, TDC 48.10, ADM 36, AGCO 53, AGU 92, POT 58.50, ARUN 29, EL 91.95, JWN 44, ROST 70.10, SBUX 34.20, TIF 61.25, EMN 95, SOA 24, LVS 44, KKR 16.60, IBM 162, SWK 74.30, ADSK 42, ORCL 32.35, RHT 43, CTXS 69.80, CSX 74.50, EXPD 50, UPS 73.50, UNP 95.85. Stocks that found 50 day support Thursday were AVGO FCS CXO BP VALE DIS KSU MMC TER.
Stocks near 200 day support are MGA 46.50, NVDA 15, SWKS 25.20, X 50.10, TEL 31.70, JKS 24.50, APH 50.15, RVBD 29.60, GOOG 560, HOT 55.50, LEN 16.80, GLW 19.05, CRUS 18, AMT 50.10. Stocks that found 200 day support Thursday were ROVI BAC MS FNSR. RIMM found 200 day resistance today.
Stocks showing good relative strength today were ANF ADP NXPI BEAV. RDSA was a strong out performer in a weak energy group. BHP RIO also demonstrated good action Thursday among their peers. Stocks that should be put on a watch list as they build the right side of their bases are BUD ABV BBD TTM.
Stocks that can be shorted at their 50 day MAs are ADI 39.35, ATML 13.95, KLAC 47, NVLS 38, JBL 21, CAM 58, EMR 59.25, COH 54.20, EMC 26.50, PAYX 32.55, XLNX 33, ADTN 44, SYK 61.05. Stocks that can be shorted as they lose their 50 day MAs to the downside and their sell stop spots are ALV 74, CXO 102, BHI 69.50, HES 82, NOV 77.75, OXY 100, SU 43.75, CPX 28.10, PLCM 47.50, AMP 61, WY 24, CCK 37.40. Stocks that lost their 50 day MAs Thursday were MON (earnings), MOS CRM IL. Stocks that found 50 day resistance today were WFT EMR EBAY LAZ GR. Bearish outside reversals Thursday included DNR FTO MCP FWLT OPEN TEX.
Good luck.
The author owns FCX TTM RAX F.
Tuesday, April 5, 2011
Tuesday Recap
Stocks yawned today for the second day in a row. In fact, the S&P 500 has closed at the 1332 level for 3 straight days now. The Nasdaq has closed within a 2 point range for the last 3 days. Volume came in below average once again. Indexes were higher for most of the day until the Fed minutes were released suggesting potential interest rate hikes to combat inflation. The days winner therefore were the precious metals and retail. Chip makers were given a boost after the TXN announcement last evening. Leading stocks are behaving well, a strong barometer for the health of the general market. Today ANF and SQM joined the breakout list. More importantly, recent breakouts which stubbornly remain above their break out buy points include INFA HS CE HAS LUUL TIBX MWV MELI. Some others including CMG WLT RL LYB all broke out today but volume was weak. Many energy stocks have been trading tightly, bullish action, and are carving potential 3 week tight patterns if that trend continues to the end of the week. Stocks hitting all time highs today were WAT PLL CVX OKE OIS DKS ROST ROC TJX. Earnings reports come from MON before the open and BBBY after the close.
Stocks near specific buy points are: Double bottoms are ALV 79.00, TRW 60.40, MT 37.57, FCX 57.74, VALE 35.70, AGU 97.98, AMZN 191.50, ORLY 59.45, TIF 65.29. Cup with handles are SLB 95.74, ATI 69.85, ADM 38.12, ARW 43.00. Cup bases are AAP 69.61, LTD 35.58, DD 56.29, FWLT 39.85. Flat bases are BMC 51.13, VRSN 37.67, TJX 51.21. 3 week tight is WY 25.25. 4 week tight is JPM 47.28. Square box base is A 46.91.
Stocks that can be bought if they reclaim their 50 day MAs and the buy stop spots are RIG 81.50, LDK 12.75, EMR 59.70, COH 54.35, GR 88, GS 162.40. Stocks that reclaimed their 50 day MAs today were FCS NUE BP SWC LVS BEAV SNDK. TCK had a strong follow through after reclaiming its 50 day yesterday. Stocks near 50 day support are PAG 19.50, ARMH 27.90, ALTR 41.10, LRCX 54, MTL 30.95, DHR 50.40, DOV 64.90, CXO 103, APC 79.50, BHI 70, CHK 32.30, DVN 89, HES 82.80, MDR 23.50, NOV 78, OXY 100.75, PBR 39, SU 44, ATW 44, RDSA 70.75, DNR 23, WMB 29.25, RIO 70, ETN 54, BLL 35.90, TDC 48, AGCO 53, MON 71.95, MOS 82, POT 58.50, ARUN 29, EL 91.50, MCD 75.10, JWN 44, PETM 41, IBM 162, OMC 48.30, SWK 74.35, ADSK 42, CHKP 49, ORCL 32.50, CSX 74.30, CNI 72, KSU 53, UNP 95.80, STT 45.10, RJF 37.50, COF 50.50, WDR 39.20, ARBA 31, ASML 43.05, MMC 29.50, VSEA 46, BGC 42.10, HON 57, WLP 67, AET 36.60, WCRX 23.50, CMCSA 24.50. Stocks that found 50 day support today were ALV AVGO BBBY DIS TROW CRM EXPD TER TTWO APKT.
Stocks near 200 day support are MGA 46.40, LLTC 32.50, MSCC 19.90, NVDA 15, SPRD 15.50, APH 50.10, SCCO 39.30, RVBD 29.60, GOOG 560, YUM 47.30, RCL 37.75, HOT 55.50, TAP 46.90, LEN 16.75, MS 26.75, QCOM 47, CRUS 18, AMT 50. Stocks that received 200 day support today were JKS ROVI BAC GS FNSR.
Stocks which can be shorted at their 50 day MAs are ADI 39.20, ATML 13.95, MXIM 26.10, TEL 35.75, CAM 58, AEM 69.50, EMC 26.50, JNPR 41.50, PAYX 32.55, LAZ 43.15, XLNX 33, ADTN 44. Stocks which can be shorted as they lose their 50 day MAs and their sell stop spots are PLCM 47.50, AMP 61.30, FISV 61.10, CCK 37.25, IL 25.50. Stocks that lost their 50 day MAs today were WFT YUM SYK. 50 day resistance was encountered today by KLAC JBL EMR PMTC GR.
Good luck. Go Mets!!
The author owns FCX TTM RAX F.
Stocks near specific buy points are: Double bottoms are ALV 79.00, TRW 60.40, MT 37.57, FCX 57.74, VALE 35.70, AGU 97.98, AMZN 191.50, ORLY 59.45, TIF 65.29. Cup with handles are SLB 95.74, ATI 69.85, ADM 38.12, ARW 43.00. Cup bases are AAP 69.61, LTD 35.58, DD 56.29, FWLT 39.85. Flat bases are BMC 51.13, VRSN 37.67, TJX 51.21. 3 week tight is WY 25.25. 4 week tight is JPM 47.28. Square box base is A 46.91.
Stocks that can be bought if they reclaim their 50 day MAs and the buy stop spots are RIG 81.50, LDK 12.75, EMR 59.70, COH 54.35, GR 88, GS 162.40. Stocks that reclaimed their 50 day MAs today were FCS NUE BP SWC LVS BEAV SNDK. TCK had a strong follow through after reclaiming its 50 day yesterday. Stocks near 50 day support are PAG 19.50, ARMH 27.90, ALTR 41.10, LRCX 54, MTL 30.95, DHR 50.40, DOV 64.90, CXO 103, APC 79.50, BHI 70, CHK 32.30, DVN 89, HES 82.80, MDR 23.50, NOV 78, OXY 100.75, PBR 39, SU 44, ATW 44, RDSA 70.75, DNR 23, WMB 29.25, RIO 70, ETN 54, BLL 35.90, TDC 48, AGCO 53, MON 71.95, MOS 82, POT 58.50, ARUN 29, EL 91.50, MCD 75.10, JWN 44, PETM 41, IBM 162, OMC 48.30, SWK 74.35, ADSK 42, CHKP 49, ORCL 32.50, CSX 74.30, CNI 72, KSU 53, UNP 95.80, STT 45.10, RJF 37.50, COF 50.50, WDR 39.20, ARBA 31, ASML 43.05, MMC 29.50, VSEA 46, BGC 42.10, HON 57, WLP 67, AET 36.60, WCRX 23.50, CMCSA 24.50. Stocks that found 50 day support today were ALV AVGO BBBY DIS TROW CRM EXPD TER TTWO APKT.
Stocks near 200 day support are MGA 46.40, LLTC 32.50, MSCC 19.90, NVDA 15, SPRD 15.50, APH 50.10, SCCO 39.30, RVBD 29.60, GOOG 560, YUM 47.30, RCL 37.75, HOT 55.50, TAP 46.90, LEN 16.75, MS 26.75, QCOM 47, CRUS 18, AMT 50. Stocks that received 200 day support today were JKS ROVI BAC GS FNSR.
Stocks which can be shorted at their 50 day MAs are ADI 39.20, ATML 13.95, MXIM 26.10, TEL 35.75, CAM 58, AEM 69.50, EMC 26.50, JNPR 41.50, PAYX 32.55, LAZ 43.15, XLNX 33, ADTN 44. Stocks which can be shorted as they lose their 50 day MAs and their sell stop spots are PLCM 47.50, AMP 61.30, FISV 61.10, CCK 37.25, IL 25.50. Stocks that lost their 50 day MAs today were WFT YUM SYK. 50 day resistance was encountered today by KLAC JBL EMR PMTC GR.
Good luck. Go Mets!!
The author owns FCX TTM RAX F.
Mid Day Thoughts
CMG breaks out of 275.10 cup base buy point. CAVM break out of 46.08 double bottom base. WLT breaking out of 140.06 cup base. Leading stocks strong here. SNDK EBAY SWC reclaiming their 50 day MAs here.
Monday, April 4, 2011
Monday Thoughts
Markets did basically nothing Monday and volume did the same. It was soft. Perhaps indexes are resting and consolidating after a strong 2 weeks. Leading stocks continued to act in a healthy manner. BHP TPX OPEN BIDU all hit all time highs today. LULU continues to hover over its recent breakout buy point stubbornly. UA, HS continue to pack on more gains as well, after last Fridays breakouts. CE broke out from a cup base today. Both WNR BWA broke out above buy points but lacked the volume to be considered legitimate. On the downside AAPL continues to lag, and then semis are being battered around repeatedly. After the close TXN did mention they will acquire NSM at a very rich 78% premium. Lets see how the market greets the news tomorrow. Not much on the earnings front to report of tomorrow.
Stocks near specific buy points include double bottoms TRW 60.40, CAVM 46.08, FCX 57.74, VALE 36.60, BLL 36.54, COH 57.71, AGU 97.98, MON 74.53, SQM 58.01, POT 62.45, AMZN 191.50, ORLY 59.45, TIF 65.29, TAP 48.51, PMTC 24.53, CHRW 78.74, IBN 51.61. Flat bases are CXO 110.99, RL 128.66, SWK 77.57, BMC 51.13, VRSN 37.67, RJF 39.78, MMC 31.18. Cup bases are MTL 34.73, WLT 140.06, FWLT 39.85, DD 56.29, UNP 99.60, BBD 22.64. Cup with handles are ATI 69.85, ADM 38.12, ARW 43.00. WY 25.25 in a 3 weeks tight pattern. LYB 41.22 in a square box base.
Stocks that can be bought through their 50 day MAs and their buy stop spots are TRW 57.75, JBL 21.05, BP 46.85, SWC 23.50, EMR 59.50, EBAY 32.25, LVS 44.50, PMTC 23.20, GR 88, SNDK 47.75. Stocks that reclaimed their 50 day MAs Monday were APKT MOS ALV F MT TCK VALE. Stocks near 50 day support are PAG 19.40, ALTR 41, LRCX 54, MCHP 37, A 43.50, DHR 50.20, DOV 64.50, APC 79.25, BHI 69.50, CNQ 47.10, CHK 32.10, COP 76, DVN 89, XOM 83.25, HAL 46, MDR 23.50, NOV 78, OXY 100.75, SLB 90, SU 43.90, ABX 50.15, DKS 38.25, TDC 48, TEX 35.70, COST 73, JWN 44, YUM 50.20, DIS 42.10, AMP 62, BX 17.20, KKR 16.55, IBM 162, SWK 74.25, ADSK 41.95, EXPD 50, KSU 53, STT 45.30, WDR 39, ASML 43, NCR 18.50, CCK 37.50, BGC 42, HON 57, AET 36.50, WCRX 23.50, CBS 23, IVZ 25.75, CMCSA 24.50. Stocks that found 50 day support today were ARMH WFT PLCM BBBY PETM TER BEAV TTWO VSEA TJX SYK.
Stocks near 200 day support are CY 15.80, LLTC 32.50, MSCC 19.80, NVDA 15, X 50, JKS 24.50, APH 50.10, LDK 10.10, SCCO 39.10, RVBD 29, RCL 37.75, HOT 55.25, LEN 16.75, GS 157, IBN 45.95, CRUS 18, MS 26.75. ROVI BAC FNSR all found 200 day support Monday.
RIMM lost its 200 day MA today. HPQ NTAP MAR VMW all are falling further below their 200 day MAs today.
Stocks that can be shorted at 50 day resistance are ADI 39.30, ATML 14, KLAC 46.75, MXIM 26.20, TEL 35.85, CAM 58, RIO 80.25, XLNX 33, ADTN 44. AMT EMR LVS all found 50 day resistance today. ADI AVGO FCS KLAC EMC JNPR LLL all fell below their 50 day MAs today.
Regarding the semis, in the aftermath of TXNs announcement after hours, who knows if it will signal a change of heart among the group. If they shall try to reassume leadership again look for the stocks that held up well in the face of the sector selloff. About 20% of all the semis I look at on a daily basis have held above their 50 day MAs. They include ALTR ARMH CAVM LRCX MCHP TER ASML NXPI. Look for them to show vigor, IF they become a strong group once again.
We bought F as it reclaimed its 50 day MA right here. Back on the "Mullaly Express".
Good luck.
The author owns FCX TTM RAX F.
Stocks near specific buy points include double bottoms TRW 60.40, CAVM 46.08, FCX 57.74, VALE 36.60, BLL 36.54, COH 57.71, AGU 97.98, MON 74.53, SQM 58.01, POT 62.45, AMZN 191.50, ORLY 59.45, TIF 65.29, TAP 48.51, PMTC 24.53, CHRW 78.74, IBN 51.61. Flat bases are CXO 110.99, RL 128.66, SWK 77.57, BMC 51.13, VRSN 37.67, RJF 39.78, MMC 31.18. Cup bases are MTL 34.73, WLT 140.06, FWLT 39.85, DD 56.29, UNP 99.60, BBD 22.64. Cup with handles are ATI 69.85, ADM 38.12, ARW 43.00. WY 25.25 in a 3 weeks tight pattern. LYB 41.22 in a square box base.
Stocks that can be bought through their 50 day MAs and their buy stop spots are TRW 57.75, JBL 21.05, BP 46.85, SWC 23.50, EMR 59.50, EBAY 32.25, LVS 44.50, PMTC 23.20, GR 88, SNDK 47.75. Stocks that reclaimed their 50 day MAs Monday were APKT MOS ALV F MT TCK VALE. Stocks near 50 day support are PAG 19.40, ALTR 41, LRCX 54, MCHP 37, A 43.50, DHR 50.20, DOV 64.50, APC 79.25, BHI 69.50, CNQ 47.10, CHK 32.10, COP 76, DVN 89, XOM 83.25, HAL 46, MDR 23.50, NOV 78, OXY 100.75, SLB 90, SU 43.90, ABX 50.15, DKS 38.25, TDC 48, TEX 35.70, COST 73, JWN 44, YUM 50.20, DIS 42.10, AMP 62, BX 17.20, KKR 16.55, IBM 162, SWK 74.25, ADSK 41.95, EXPD 50, KSU 53, STT 45.30, WDR 39, ASML 43, NCR 18.50, CCK 37.50, BGC 42, HON 57, AET 36.50, WCRX 23.50, CBS 23, IVZ 25.75, CMCSA 24.50. Stocks that found 50 day support today were ARMH WFT PLCM BBBY PETM TER BEAV TTWO VSEA TJX SYK.
Stocks near 200 day support are CY 15.80, LLTC 32.50, MSCC 19.80, NVDA 15, X 50, JKS 24.50, APH 50.10, LDK 10.10, SCCO 39.10, RVBD 29, RCL 37.75, HOT 55.25, LEN 16.75, GS 157, IBN 45.95, CRUS 18, MS 26.75. ROVI BAC FNSR all found 200 day support Monday.
RIMM lost its 200 day MA today. HPQ NTAP MAR VMW all are falling further below their 200 day MAs today.
Stocks that can be shorted at 50 day resistance are ADI 39.30, ATML 14, KLAC 46.75, MXIM 26.20, TEL 35.85, CAM 58, RIO 80.25, XLNX 33, ADTN 44. AMT EMR LVS all found 50 day resistance today. ADI AVGO FCS KLAC EMC JNPR LLL all fell below their 50 day MAs today.
Regarding the semis, in the aftermath of TXNs announcement after hours, who knows if it will signal a change of heart among the group. If they shall try to reassume leadership again look for the stocks that held up well in the face of the sector selloff. About 20% of all the semis I look at on a daily basis have held above their 50 day MAs. They include ALTR ARMH CAVM LRCX MCHP TER ASML NXPI. Look for them to show vigor, IF they become a strong group once again.
We bought F as it reclaimed its 50 day MA right here. Back on the "Mullaly Express".
Good luck.
The author owns FCX TTM RAX F.
Sunday, April 3, 2011
Weekend Warrior
Markets Friday started nicely after a positive jobs report (216K private sector jobs were created), but then surrendered about half of their gains by the close. Volume rose on the Nasdaq but fell on the S&P 500. For the week the Nasdaq was up 1.7%, and the S&P 500 up 1.4%. The S&P 600 outperformed for the week with a 2.7% gain. Maybe small cap leadership is about to emerge? On the weekly chart the S&P 500 is forming a cup with handle pattern with a buy point just over 1344. The Nasdaq also is developing that pattern as well with a buy point just over 2840. The continuous stream of leading stocks breaking out, and others setting up buy points has for the time being stamped out the correction phase the market needed. Friday a number of leaders broke out including UA, from a 70.79 flat base buy point. JOYG from a 100.68 cup base buy point. DE HS MWV all broke out Friday in healthy volume. The concerns the market has is in its general AAPL, which lost its 50 day MA Friday. It has struggled with its 50 day moving average ever since closing below it on 3/15. Add to that the chip space weakness, (SMH has not been able to reclaim its 50 day MA after trying almost everyday last week) and maybe it has to be interpreted that the Nasdaq rolls along without AAPL and the semiconductors. SCHN reports after the close Monday and not much to speak of on the economic front.
Stocks near specific buy points are: Cup bases TEN 46.91, MTL 34.73, RS 60.05, DOV 68.17, HES 87.50, WLT 140.06, WNR 18.38, MCP 62.90, FWLT 39.85, CMG 275.10, CE 45.52, DD 56.29, ABV 32.10, INTU 54.78, UNP 99.60, KSU 57.08, BBD 22.64, WDR 42.30, COF 53.08, WBC 65.63, CMCSA 26.01. Double bottom bases are CMI 114.40, TRW 60.40, ADI 41.09, CAVM 46.08, FCS 19.60, FCX 57.74, RIO 71.80, ETN 56.31, BLL 36.54, AGU 97.98, MON 74.53, SQM 58.01, AMZN 191.50, ORLY 59.45, TIF 65.29, EXPD 55.21, IBN 51.61, QLIK 27.30. Flat bases are MMC 31.18, BWA 81.17, CXO 110.99, OXY 107.66, ATW 46.64, RL 128.66, EMC 27.57, AMP 65.22, OMC 51.35, BMC 51.13, RJF 39.78. Cup with handles are ATI 69.85, SLB 95.74, ADM 38.12. 3 week tight pattern is WY 25.25. LYB 41.22 square box base. Plenty of set up buy points here. Bullish indeed.
Stocks that hit all time highs Friday were CBE CAT JOYG PH ROK SM BHP UA TSCO ROC BIDU. Stocks near "par" or 100, quite often continue to power ahead once it crosses that triple digit price level. So it bears to keep a close eye on stocks near that 100 handle. They include PH ROK DVN NBL SLB BHP CLF DE FOSL EL PPG UNP. Stocks which have recently risen above par are JOYG PXD OXY OPEN EMN PX.
Stocks which can be purchased as they reclaim their 50 day MAs and their buy stop spots are ALV 75.25, F 15.55, MXIM 26.50, TCK 56.50, VALE 34.10, SWC 23.55, EMR 59.60, COH 54.50, MOS 82.60, GOOG 602, EBAY 32.30, LVS 44.65, GR 88, PMTC 23.15. Stocks that reclaimed their 50 day MAs Friday were WFT AMP AMTD TROW AMT IVZ CHRW EXPD STT BEAV WCRX. Stocks near 50 day support and their prices are PAG 19.25, ALTR 41, LRCX 54, MCHP 37, GSM 21.25, A 43.70, DHR 50, VSH 17.30, PLL 54.50, APC 79.75, BHI 69, CHK 32, COP 75, DVN 88.50, XOM 83, HAL 46, MDR 23.20, NOV 77.70, NBL 91, SU 43.75, VLO 28, DNR 22.50, WMB 29, AA 16.85, ABX 50, PAAS 36, TPX 47.50, DKS 38, PLCM 47.75, TDC 48, POT 58.50, AAP 64, BBBY 48, MCD 75, JWN 44, ROST 70, YUM 50.15, DIS 42, BX 17.20, SWK 74, ARW 40, TER 17.70, NXPI 28, VSEA 46, HON 56.80, AET 36.30, CBS 22.90. Stocks that found support at their 50 day MAs Friday were ARMH AVGO KLAC RIO EMC SYK JNPR KKR.
Stocks near 200 day support are MGA 46.50, LLTC 32.45, MSCC 19.80, SPRD 15.50, X 50, AVT 30.10, BP 42, JKS 23.90, APH 50, LDK 10.10, SCCO 39.40, RVBD 29, HOT 55.15, LEN 16.90, GLW 19, CRUS 18, SNDK 44. NOC TAP ROVI RIMM FNSR all found 200 day support Friday. MIPS VMW found 200 day resistance Friday. LOGI plunged below its 200 day MA Friday on poor guidance. BRCM lost its 200 day MA Friday. Not a good sign as evidenced by TGT FFIV AKAM. Lose that 200 day and trouble lies ahead. NTAP can be bought over 50, if it can reclaim its 200 day moving average.
Stocks which can be shorted at their 50 day MA CY 21, NVLS 38, SWKS 33.60, TXN 34.85, JBL 21, TEL 35.95, RIG 80.25. Stocks that can be shorted under their 50 day MAs and their sell stop spots are KLAC 46, TTWO 14.75. Stocks that met 50 day resistance Friday were WU ATML NVLS TXN GR MT AVT RIG SWC SHLD MOS GS QCOM. Stocks that lost their 50 day MAs Friday were CAM AAPL XLNX APKT.
Good luck.
The author owns FCX TTM RAX.
Stocks near specific buy points are: Cup bases TEN 46.91, MTL 34.73, RS 60.05, DOV 68.17, HES 87.50, WLT 140.06, WNR 18.38, MCP 62.90, FWLT 39.85, CMG 275.10, CE 45.52, DD 56.29, ABV 32.10, INTU 54.78, UNP 99.60, KSU 57.08, BBD 22.64, WDR 42.30, COF 53.08, WBC 65.63, CMCSA 26.01. Double bottom bases are CMI 114.40, TRW 60.40, ADI 41.09, CAVM 46.08, FCS 19.60, FCX 57.74, RIO 71.80, ETN 56.31, BLL 36.54, AGU 97.98, MON 74.53, SQM 58.01, AMZN 191.50, ORLY 59.45, TIF 65.29, EXPD 55.21, IBN 51.61, QLIK 27.30. Flat bases are MMC 31.18, BWA 81.17, CXO 110.99, OXY 107.66, ATW 46.64, RL 128.66, EMC 27.57, AMP 65.22, OMC 51.35, BMC 51.13, RJF 39.78. Cup with handles are ATI 69.85, SLB 95.74, ADM 38.12. 3 week tight pattern is WY 25.25. LYB 41.22 square box base. Plenty of set up buy points here. Bullish indeed.
Stocks that hit all time highs Friday were CBE CAT JOYG PH ROK SM BHP UA TSCO ROC BIDU. Stocks near "par" or 100, quite often continue to power ahead once it crosses that triple digit price level. So it bears to keep a close eye on stocks near that 100 handle. They include PH ROK DVN NBL SLB BHP CLF DE FOSL EL PPG UNP. Stocks which have recently risen above par are JOYG PXD OXY OPEN EMN PX.
Stocks which can be purchased as they reclaim their 50 day MAs and their buy stop spots are ALV 75.25, F 15.55, MXIM 26.50, TCK 56.50, VALE 34.10, SWC 23.55, EMR 59.60, COH 54.50, MOS 82.60, GOOG 602, EBAY 32.30, LVS 44.65, GR 88, PMTC 23.15. Stocks that reclaimed their 50 day MAs Friday were WFT AMP AMTD TROW AMT IVZ CHRW EXPD STT BEAV WCRX. Stocks near 50 day support and their prices are PAG 19.25, ALTR 41, LRCX 54, MCHP 37, GSM 21.25, A 43.70, DHR 50, VSH 17.30, PLL 54.50, APC 79.75, BHI 69, CHK 32, COP 75, DVN 88.50, XOM 83, HAL 46, MDR 23.20, NOV 77.70, NBL 91, SU 43.75, VLO 28, DNR 22.50, WMB 29, AA 16.85, ABX 50, PAAS 36, TPX 47.50, DKS 38, PLCM 47.75, TDC 48, POT 58.50, AAP 64, BBBY 48, MCD 75, JWN 44, ROST 70, YUM 50.15, DIS 42, BX 17.20, SWK 74, ARW 40, TER 17.70, NXPI 28, VSEA 46, HON 56.80, AET 36.30, CBS 22.90. Stocks that found support at their 50 day MAs Friday were ARMH AVGO KLAC RIO EMC SYK JNPR KKR.
Stocks near 200 day support are MGA 46.50, LLTC 32.45, MSCC 19.80, SPRD 15.50, X 50, AVT 30.10, BP 42, JKS 23.90, APH 50, LDK 10.10, SCCO 39.40, RVBD 29, HOT 55.15, LEN 16.90, GLW 19, CRUS 18, SNDK 44. NOC TAP ROVI RIMM FNSR all found 200 day support Friday. MIPS VMW found 200 day resistance Friday. LOGI plunged below its 200 day MA Friday on poor guidance. BRCM lost its 200 day MA Friday. Not a good sign as evidenced by TGT FFIV AKAM. Lose that 200 day and trouble lies ahead. NTAP can be bought over 50, if it can reclaim its 200 day moving average.
Stocks which can be shorted at their 50 day MA CY 21, NVLS 38, SWKS 33.60, TXN 34.85, JBL 21, TEL 35.95, RIG 80.25. Stocks that can be shorted under their 50 day MAs and their sell stop spots are KLAC 46, TTWO 14.75. Stocks that met 50 day resistance Friday were WU ATML NVLS TXN GR MT AVT RIG SWC SHLD MOS GS QCOM. Stocks that lost their 50 day MAs Friday were CAM AAPL XLNX APKT.
Good luck.
The author owns FCX TTM RAX.
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