Sunday Thoughts

Friday was a down day on Wall St. A half day that saw the Dow take the worst of it with a 1% loss. Investors stayed on the sidelines until this week begins with the big players returning. For the week the Dow and S&P feel 1%, but the Nasdaq rose .7%. Steel struggled as retail and tech held up in general. Leaders held up relatively well Friday as stocks such as FFIV CRM CMG RVBD AKAM PNRA DECK all finished higher.

Stocks that have specific buy points are: APA @110.81, APC 67.78, DVN @73.35 all cup with handles patterns. Flat bases show up on SUN @40.73, CHKP @44.57, AAPL @322.30, HAS @48.88. Three week tight patterns show up with CPX @29.23, BLL @66.36. Four weeks tight patterns have formed on HES @72.09, A @37.65.

Stocks that can be bought as they pass thru MAs are: RADS thru 18.60, CNI thru 65.25, INFY thru 68. All those previously mentioned were their 50 day MAs. Stocks that can be bought as they pass thru their 200 day MAs are: X thru 50, GPS thru 21.20 as it breaks from recent consolidation near its 200 day MA. As always big volume must be accompanied with the price action.

Other stocks with buy points that can be bought are BTU thru 60, TIBX thru 20.28, and SOA as it retreats to 21.

Stocks that should find support at their 50 day MA are: CBI @26, DE @75, WYNN @102, ARMH @18, TRMB @36, BEAV @34, RAI @31, NTGR @30, SIAL @62, BMC @43, KBR @26, FOE @13.75, COP @60, DOW @30, MUR @64, RIG @65, AA @12.80, EMN @77, CE @35, GOOG @580, BIDU @105, PM @58, APH @50, CHRW @71, QCOM @45, AMT here, UNP @86, BHP @82, ABX @48, FCX @95, AEM @75, CAT @80, JOYG @73, YUM @49, NKE @82, KMX @30, SCCO @41, BID @40.

Stocks that should find support at their 200 day MA are: CVX @78, SU @32, UPL @45, CNX @40, VNO @80, BUD @54, NVDA @12.90, EGO @16.50, ATHR @32.

ETFs that should find support at their MAs are: TBT @34, MOO @49.50, XLB @34.50 all their 50 day MAs. FXI @42 is its 200 day MA.

Stocks that can be shorted are: QSFT below 25, RIO below 64. Both their 50 day MAs. INTU if it rebounds to its 50 day MA @47 can be shorted.

Lets see if the mythical, legendary Plunge Protection Team can keep GM stock price above the offering @33. Looks like they are having a heck of a time!!

Good luck.

The author owns CAKE ARMH NVDA.