Markets turned in a mixed performance Thursday. Not the kind of reaction you would like to see after yesterdays rout, which was the worst since last August. Perhaps it just biding its time before tomorrow mornings big jobs report. Volume was soft, compared to the first two trading days of the week. Todays winning groups hailed from the education, machinery and ag sectors. Autos were weak, retail faltered again with stocks like COH CROX NKE PVH VFC ANN just to name a few. Even some defensive names such as KO GIS K CL lagged. Be patient here, and let the market reassert itself before making any meaningful purchases. Very few leading stocks look poised to breakout here too. No real earnings tomorrow but beware the employment report at 830am. ISM Non-Manufacturing is reported Friday at 10am.
Keep a watchlist now with stocks that are treading water and acting well during the correction. They could be the first to emerge as the next leaders when the market rally resumes. A few to keep an eye on are WYNN 151.83 buy point in a flat base. HS 45.21 in a 3 week tight pattern. WAT 100.04 in a flat base, and AET 46.11, MOLX 28.20 both cup with handles.
Stocks near 50 day support are ALB 65, CE 48, PPO 61.50, WYN 33, AGP 66, HLS 26, ZMH 64.50, SCSS 15, YUM 53, CBS 25.75, VIAB 49, PM 68, ITW 56, WCN 30.25, BMC 52, FTNT 22, NUAN 20.50, QLIK 29.50, CHRW 78, KSU 55, NSC 70.50, TEL 35.50, ADS 89, COG 54, EQT 50, HAL 48.10, KEG 16, PTEN 29.10, HK 25, SUG 28.50, TPX 60, TUP 62, MWV 32.50, ACN 56, ADP 53, EMC 27.30, TDC 53, DTV 48, PCS 17.10, ALTR 46, SMTC 26.95, XLNX 33.70, MON 68. Stocks that found 50 day support today were EMN LYB ROC COV SYK AMZN CNI A JBL BHI MRO NFX OXY SWN CCK MXIM B. TS managed to retake its 50 day today, stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are EOG 112, NOV 74.50, ARMH 29.25.
Stocks near 200 day support are HBI 26.60, APD 88, DOW 34, FMC 77.75, PPG 83, STJ 44, VPHM 17.05, WCRX 23, ANN 25, JWN 42.05, WSM 36, DIS 39, CBE 58, DOV 59.50, BGC 36, PH 84, ADSK 39, ORCL 30.75, FDX 90.55, UPS 71.30, TTMI 14.50, AMP 57, BP 43.90, CXO 87, HES 74, MDR 19.85, RDSA 67, SU 38.80, WLL 59, DD 50, MMM 89.05, TIN 21.95, CTSH 72, OMC 45.50, PAYX 30.50, NTAP 52, OPEN 80, KLAC 40.10, SPRD 17.90, BWA 66. Stocks that found 200 day support today were MDRX RHT EXPD RIO CMI DE AGU. Stocks that can be shorted at 200 day resistance are LVS 43.10, MTL 27.75, MUR 68.80, SUN 40.25, RIG 71, LRCX 48, FCX 51.40, JPM 42.50. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are HOT 57.50, APH 52.10, SLW 34, ALV 72.50. ANR lost its 200 day today, and BTU SWC found 200 day resistance. TCK can be bought thru 51.80, as it reclaims its 200 day MA.
Stocks that can be shorted at 50 day resistance are DECK 89.80, UA 69.50, HUN 19.05, PCLN 520, CAR 18.05, RCL 39.50, EBAY 32, FAST 33, IR 49, ARW 43.60, AVT 35, DFS 24.30, VLO 27.90, DHR 53.40. Stocks that found 50 day resistance today were PVH EXPR ARBA. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are NKE 80.50, COV 54, COST 78.50, UNP 99.50, EL 97, AVGO 32.70. Stocks that lost their 50 day MAs today were PX K PKI COF HOC IFF IBM.
Good luck.
The author owns HK TIBX.
No comments:
Post a Comment