Thursday Recap

Markets closed again in lackluster fashion. Their is an a feeling of rotation going on in the indexes. Recent laggard groups including financials, and today homebuilders are becoming stronger. Retail and gold miners have been pounded this week. Semis have been and continue to be strong. The Philly semi index gained almost 2% Thursday. Markets should break out from their recent hibernation with some decent move one way or the other when the jobs report is out tomorrow morning.

Stocks near specific buy points include LLTC @35.17, WCC @53.88, ALB @57.44, DHR @47.69, AVGO @29.04, DD @50.27, IR @47.60, CBE @59.75. All previously mentioned were 3 week tight patterns. Flat bases are OPEN @76.79, TXN @34.03, ADI @38.70, PCAR @57.93. JWN a retail powerhouse today among retail weakness is near a 44.05 cup with handle buy point.

Stocks near their 50 day MAs are MAR @40.25, HOT @59, CXO @82, NOV @62, CAM @48, HAL @38, BTU @60, SLB @78.70, SU @35.80, WLL @111, INTU @48, QSFT @27, RHT @45, EXPD @53.50, UNP @91.50, BHP @88.20, MDR @18.80, DOV @56.50, GPC @49.50, WFMI @47.75, SBUX @31.50, COST @69, DECK @74, FL @18.30, DKS @34.60, ANF @52, MT @35.40, SCCO @46, NDAQ @22.50, ATU @25, FST @35.50, OIS @60, CNQ @41, WFT @20.75, WYN SIAL MKC here.
Both HS MCO reclaimed their 50 day MAs Thursday. AGP OII both found 50 day MA support today. Stocks that can be bought as they reclaim their 50 day MAs are BUD thru 59, BIDU thru 106.50.

Stocks near 200 day MAs are PBR @36.25, SWN @37, BVN @42, FDO @43, MCD @73, DISCA @39.40, HNZ @47, LTD @27.25, TAP @46, IBN @44.50. AEM 200 day support is at 67. AEM looks very overdone here looks overdone, down 20 points in one month. URBN TGT both found 200 day support today.

Stocks showing good moves today are. RAI broke out from a 33.51 buy point in a flat base in big volume. PCLN added nicely today to yesterdays breakout. KSU broke out from a 50.17 buy point in a flat base today in good volume. RVBD broke out from a 38.04 buy point in a flat base also today. TC back near a 14.25 cup with handle buy point. AGU still above a 89.79 cup base breakout, and MOS is still above a 74.35 cup base breakout as well. AGU MOS both broke out on 12/29 on huge trade in a week that was devoid of volume.

ETFs in the news are EZA @71, its 50 day MA. USO found 50 day support today. SMH has a 33.36 flat base buy point. EWG EWA GLD all lost their 50 day MAs.

Stocks showing weakness are: WLL MEE CMI that had outside reversal days today. Stocks that lost their 50 day MAs today are SPG NBL NLC GFI SLW FMC PAAS GES RES WSM STZ PTEN M BBG. Stocks that have lost their 50 day recently and continue further to lose more ground under that MA are TTM EBAY CPX ABX ORLY PVH WRC KMX HRC NKE KO ANN PM FOE HNZ. TIBX is finding resistance at its 50 day MA. VIT tried to rally above 50 day MA today but closed below it. Both NEM EGO lost their 200 day MAs today. Big red flag. Stocks that can be shorted as they break under their 50 day MA are UA under 54, CB under 58.40. YUM can be shorted as it approaches its 50 day MA @50.

Portfolio changes today were long NETL @34.45 as it took out that buy point in a double bottom with handle buy point in big volume. Sold ARMH @22.25 after a reversal today on big volume. We bought ARMH twice. First @18.35 as it retook its 50 day MA on 11/19. Secondly @19.38 as it took out a cup with handle on 12/21 on huge volume for an 18.87 average. A gain of 18%. On a down note sold NVDA about 4 points ago early this week. No real reason to sell even though we had a handsome gain.

Good luck.

The author owns CHRW DE VRSN KKR QCOM JCI TRW BBT NETL SDS. Short TTM EBAY.