Markets showed some good resilience Monday. Traditionally the strongest day of the week, leading stocks rallied smartly even as the broad action was mixed. AAPL OPEN UNP all performed admirably. Stocks overcame early weakness from European bourses with the Nasdaq down almost 1% at the open. A bullish trait. Semis once again outperformed. AA was down 2% in after hours trading on earnings news.
Stocks near specific buy points are. Flat bases. IRF @30.84, MXIM @24.99, MCHP @36.51, TXN @34.03, TKR @50.27, DOV @59.92, PLL @51.11, CXO @90.40, NFX @73.68, FFIV @143.85, RAX @32.79, BID @47.90, INFA @46.45. 3 weeks tight are AVT @34.02, TEL @36.53, CAT @94.99, ITW @54.74, JOYG @90.56, CVX @92.58, TROW @66.25. Cup bases are RS @55.57, AMTD @20.68, RHI @32.35. Cup with handles are GTI @21.21, HD @35.67. Double bottom with handles are VLTR @25.10, URBN @39.05. Double bottoms are CRUS @19.17, LVS @52.18. 4 week tight are AVGO @29.04, IR @47.91. OPEN continued higher after Fridays breakout @76.79 from a flat base on strong volume.
Stocks near their 50 day MAs are ALTR @35.30, DHR @45.20, ATU @25.20, ESV @50.25, MDR @19, BTU @60.40, PUDA @13, SLB @79, SU @36, WFT @21, VALE @33.60, ICON @19, PLCM @37.50, SMSI @15, ANF @52, COST @69, FOSL @70, PNRA @100, RCII @29, WFMI @48, PPG @80.25, SOA @23.20, CCL @44, MAR @40.20, HOT @59, ABV @29, NDAQ @22.60, BMC @46.25, CA @24, MSCC here. NFLX bounced off 50 day support today. Stocks that can be bought as they move upward through their 50 day MAs are AKAM thru 50.30, JKS thru 26.
Stocks near their 200 day MA are MT @33.80, PBR here, SWN @37, ABX @46, CRI @28, LOGI @17, RTN @49, DRI @44.50, GES @40.25, LTD @27.25, MCD @73, TGT @44.25, TAP @46, IBN here. BAC @14 and not going down on bearish news regarding the foreclosure court case decisions last week. A very bullish sign. HPQ took out its 200 day last Thursday on good volume and its 200 day is 44.25. PVH rebounded smartly off its 200 day MA Friday and today. RTN took out its 200 day MA Friday in big volume. Group mate LMT can be bought above 75, its 200 day MA.
Stocks that can be shorted as the move back toward their 50 day MAs are CPX @28.75, NBL @84, PTEN @21, PAAS @38, SLW @36, COH @55, NKE @86, ANN @25.75, KMX @33, WSM @35, YUM @50. SUN lost its 50 day MA today in big volume.
Portfolio changes today were covering TIBX for a $1 loss. Retook its 50 day MA in big volume. Buying UNP @95.88 as it busted thru a flat base buy point there in big volume.
Good luck. The author owns DE VRSN KKR QCOM JCI NETL TRW NSC UNP SDS. Short EBAY.
No comments:
Post a Comment