Thursday, July 28, 2011

Wednesday After Market

Markets imploded Wednesday in big volume. How bad was it. Even Spam (symbol HRL) lost its 50 day MA. The Nazz managed to find support at its 50 day MA, but it looks tenuous. The Nazz torpedoed 2.65%. The S&P 500 was not as fortunate. It dove below its 50 day MA Wednesday, losing 2.03%. Obviously I am a stock guy, so I let charts tell the story. Forget the debt ceiling debate. The market is reeling because of other issues. The economy? UPS FDX CAT explain the economies weakness. Employment? Take a quick peak at PAYX. Chart disarray. Forget about the multitude of stocks losing their 50 day MAs, the list of those losing their 200 day MAs was astounding (see below). Leading stocks, a true barometer of market health were crushed today. Many were spanked on earnings new Wednesday. TUP lost 13%, ILMN 18%, JNPR 21%. After hours Wednesday other leaders continued to be assaulted. AKAM down 14%, CLF down 6%, CTXS BMC both down another 5% after having tough days Wednesday during the day. CROX was up 10%. AMZN managed to clear a short consolidation Wednesday on big trade after earnings. Other that performed admirably post earnings were TPX up 10%, QCOR up 25%. Earnings come before the bell Thursday from ADP BLL BWA BG CAM CELG XRAY DD XOM IP IRM MSI NBL PTEN RS ROK TWC TKR TYC VPHM, and after the close from ACOM ARBA CERN CHK EMN EXPE KEG KLAC MXIM MSCC NTGR NXPI QLIK SWN SBUX VRSN.

Stocks nearing 50 day support are ANF 71.50, BBBY 56, CHS 15, DRI 50.40, DLTR 65, M 28.80, SBUX 37.90, TIF 76.50, KO 67, COH 62.50, NKE 86, GR 92, CHD 41, HLF 55.50, EXPE 28.50 (earnings after bell Thursday), VPHM 18.60 (earnings before bell Thur), WPI 66, CHKP 56, CE 51.50, POL 15, DISH 30, MTZ 20, KSU 57, CBS 27.40, NCR 19, ACOM 40 (earnings after bell Thur), ROP 82, ACN 58, VCLK 17.10, AGCO 48.40, SQM 62, BX 16.75, GSM 22.10, WOR here, JOYG 19, NBR 25.75, WCN 32, HSY 56.05. Stocks that found 50 day support Wednesday were UA NFLX ALB AXP CMCSA UNP DIS DELL GS AME CRZO COP EXXI BTU SUN TCK WMB ARMH.

Stocks near 200 day support are EAT 23, FL 20, YUM 51.60, BDX 82.40, CELG 57.95 (earnings before bell Thur), XRAY 35.95, MYL 22.25, STJ 45.95, WLP 67, ABV 29.30, INFA 48, NUAN 19.05, QLIK 27 (earnings after bell Thur), PX 98, SIAL 66, QCOM 53, CSX 23.75, NTGR 35.10 (earnings after bell Thur), DD 51.50 (earnings before bell Thur), UTX 82, TMO 57, WAT 85, SAPE 12.95, AGU 87.50, ABB 23.60, CAT 98, KMT 39, CMI 104.50, CXO 92, DVN 80.75, OXY 98, UPL 46.50, SLW 36.10, BHP 91, CLF 85 (earnings after close Wed), RIO 69.10, GPC 52. Stocks that found 200 day support Wednesday were KMX TITN FTNT APD WDR SWI DHR DOV SU ALTR. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are DKS 36.70, ZMH 58.75, APD 89, LYB 35.75, ATI 60, BWA 69.75 (earnings before bell Thur), SU 39.50, OVTI 30, XLNX 31.40. Stocks that lost their 200 day MAs Wednesday were ANN CAKE BID WRC CAR BMC CTXS ORCL DOW PPG KKR RJF APKT AMT VMED CHRW ETN HON A JBL MOLX PLL ROK (earnings before bell Thur), JCI CAM (earnings before bell Thur), SUN FCS ABX SMTC. Stocks that can be shorted at 200 day resistance are ANN 26, CAKE 30.25, VRSN 34.10 (earnings after bell Thur), FDX 91.75, UPS 72, PKI 26, WY 21.

Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are BID 41.75, TSCO 64.50, CI 49.50, CERN 60.10, EMN 100.80 earnings after bell Thur), PPO 65, DFS 24.75, TWC 76.50 (earnings before bell Thur), UNP 101.25, BLL 38.50 (earnings before bell Thur), IRM 33 (earnings before bell Thur), BG 69.75 (earnings before bell Thur), BTU 57.75, TCK 49. Stocks that lost their 50 day MAs Wednesday were VAIB EMC PLCM TDC ETN DAR MS JPM ERTS NUAN TROW RJF JBHT CRL FRX HS MYL UNH WCG SCSS TXRH ICON CL AGN AGP BAX EAT COST FAST MW ORLY PETM RS ATU KMT BWA (earnings before bell Thur), WBC SOLR PAAS. Stocks that can be shorted at 50 day resistance are IFF 63, AGN 82.25, HS 43.90, STT 44, CNI 77, RAX 42.05, NUE 40.50. Resistance was found for LTD HNZ AET TIBX SOA MSI (earnings before bell Thur), CCK ADP (earnings before bell Thur), MCO MT RIG AEM.

Good luck.

The author owns FCX DE WNR WOR.

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