Markets demonstrated bullish behavior Friday, beginning the session wobbly, and finishing strongly. For the week the Nazz gained 6%, while the S&P 500 was up 4.75%. Volume was soft compared to normal weekly levels, however. Both indexes remain 14% from their 52 week highs. Just a quick look at how other world indexes are performing YTD and the US does not seem that bad. The S%P 500 sits down 6.4% for the year compared with Brazil lower by 20.8%, India 27.1%, China 14.2%, Russia 16.5%, Germany 15.1%. I guess you can say we are the best in a bad lot, for now. I believe (however opinions are worthless, let the price action dictate), that we are in the midst of a bear market, but with so many former leaders well below their 50/200 day MAs, there is plenty of room for them to run before resistance rears its ugly head. The S&P 500, itself can rally to 1260, more than 80 points, before encountering 50 day obstruction. It is hard to get excited long term when defensive groups such as food/beverages, gold, utilities, tobacco are displaying strong leadership. Their are some bright spots, with percentage of bearish investment advisers climbing, a contrarian sign. Some leaders continue to hold up well. Both AAPL MA have bounced off formidable 50 day support recently. TIF, gave a sweet earnings report and more importantly raised future guidance. It rallied 20% for the week and retook its 200 day MA in the process. Beaten up retailers, FOSL UA, up 31% and 28% respectively for the week on both short covering and upgrades. Both also retook 40 week MAs. LULU gained 14% on the week after finding 200 day support earlier in the week. Silver stock SLW, showing constructive action, looks to be forming a cup base. As always be selective, utilize discipline, and buy leaders, and demand strong volume. Not much in the way of earnings Monday.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are MON 71.25, SCCO 32.80, GIS 37.25, CROX 27.40, NKE 87, BIDU 143, SINA 102, SWI 23.75, AMZN 206, BBBY 56.25, COST 78.60, GPC 53.15, LTD 37.25, ROST 76.25, SBUX 38.40, WFM 62.25, AXP 49.50, HLF 56.25, CAM 49.40, CHK 31, EQT 55.75, OII 40.40, SM 74, WNR 18.15, EXPE 29.20, FNSR 17.30, CPHD 34.25, COV 51.35, WPI 66.40. Stocks that reclaimed their 50 day MAs Friday were IPI POT HSY VFC IACI GMCR RAI HFC AMT MTZ MRX QCOR CLH BRCM. Stocks near 50 day support are AG 21, AN 36.90, ABV 31.95, V 84, LOGI 10, ALXN 51, QCOR 27.50. Stocks that found 50 day support Friday were MOS AG UN DLTR DPZ ORLY PM CVI COG CERN JAZZ.
Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are MCP 55.30, CVS 35.15, M 25.85, TGT 52.25, GR 88.25, CBOE 25.25, LVS 44.55, CBS 23.50, BAX 54.50, MCK 78, CNI 72.35, AVGO 31.75, SPRD 18.25. Stocks that reclaimed their 200 day MAs Friday were DAR CDE NKE UA SINA FAST LKQX TIF VIAB AET HS CRS ARMH. Stocks near 200 day support are DAR 15, GG 47.95, SLW 37, FAST 31.50, SCSS 13, SFLY 46.25, TIF 66.25, RAI 35, TPX 52.50, HS 36.40, VPHM 18. Stocks that found 200 day support Friday were SLW ABX BGS SWI COST DSW FOSL LTD TSCO WFM EL TPX EP PCLN CHKP MHP HUM UNH VPHM. Stocks that can be shorted at 40 week resistance are COH 57, PVH 64.25, ANF 62, EBAY 31, ATW 41.50, TDC 50, GILD 39.55. Stocks that met 40 week resistance Friday were MCP DECK PNRA DEO PENN VRX B.
Stocks that can be shorted at 50 day resistance are DE 78.25, K 54.20, DECK 89, ANN 25, EAT 24.10, CMG 310, DKS 36.05, PETM 43.30, BUD 56, INTU 47.30. MON CROX NKE all met 50 day resistance Friday.
Good luck. Posts will resume Wednesday evening.
The author owns WNR.
Sunday, August 28, 2011
Monday, August 22, 2011
Monday Thoughts
What else is new? Markets started with a bang and ended with a thump. Many stocks mirrored the index action by reversing and finishing hard upon their lows. The Nazz and the S&P 500 both finished UNCH basically after showing decent gains of 2% or more intraday. Former leaders are now really be taken to the slaughterhouse. CMG LULU PCLN HLF HAL are all down 5 days in a row now. And the value trap is that they look cheap but keep getting cheaper everyday. Energy and banks took the biggest hits today. GS was down 5% alone, BAC 7%. Gold/silver miners led to the upside once again suggesting that defensive names are still showing their might. AEM actually met 200 day resistance to the penny today. IBM also met 200 day resistance to the penny as well, after losing that line of support for the first time in a long while. Leading pharmaceuticals QCOR JAZZ met exact 50 day resistance today. There still does not seem to be that panic that brings that ultimate big capitulation day, that may suggest we are near a bottom. The selling seems to orderly for now. One standout today was a recent IPO ARCO. Up 4% on a poor tape not to shabby. Tomorrow we hear of earnings from HNZ before the open and AVGO GSM after the close.
Stocks near 200 day support include TGI 45.90, LULU 43, BBBY 51.20, CMG 266, HRL 27.25, EXPE 25.95, IACI 32.75, CERN 54, ADS 82, DFS 22.20, V 77, GSK 40.40, OKE 64, SM 66, IRM 29. Stocks that found 200 day support today were BBBY SCSS SBUX BGS WYNN CHKP EZPW WNR. Stocks that can be shorted at 200 day resistance are EAT 23.20, COST 75, FAST 31.55, M 25.70, LTD 34.75, PETM 41.75, TSCO 56, WFM 57.20, YUM 51.65, DAR 15, BAX 54.05, CAH 41.55, CI 43.85, HS 36.10, MHP 39, GPOR 26.60, ARMH 26. Stocks that met 200 day resistance were ROST EL TPX DAR PENN SINA VPHM CRS MTZ CBS CHK HLX ROSE. Stocks that can be shorted as they lose 200 day support and their sell stop spots are WYNN 128, BIDU 124.50, CHKP 50.25, WPRT 20.50. AEM can be bought with a buy stop of 69.15, if and when it can take out its 200 day MA.
Stocks that can be shorted at 50 day resistance are AAPL 360, COG 67.25, RRC 58, GNC 22. Stocks that met 50 day resistance today were AN DG DLTR ORLY CL HSY LVS GSK VPHM AAPL. COG lost its 50 day today.
Good luck. I will be on vacation until mid next week. Posts will resume then.
The author is long WNR. We sold FCX for a small loss.
Stocks near 200 day support include TGI 45.90, LULU 43, BBBY 51.20, CMG 266, HRL 27.25, EXPE 25.95, IACI 32.75, CERN 54, ADS 82, DFS 22.20, V 77, GSK 40.40, OKE 64, SM 66, IRM 29. Stocks that found 200 day support today were BBBY SCSS SBUX BGS WYNN CHKP EZPW WNR. Stocks that can be shorted at 200 day resistance are EAT 23.20, COST 75, FAST 31.55, M 25.70, LTD 34.75, PETM 41.75, TSCO 56, WFM 57.20, YUM 51.65, DAR 15, BAX 54.05, CAH 41.55, CI 43.85, HS 36.10, MHP 39, GPOR 26.60, ARMH 26. Stocks that met 200 day resistance were ROST EL TPX DAR PENN SINA VPHM CRS MTZ CBS CHK HLX ROSE. Stocks that can be shorted as they lose 200 day support and their sell stop spots are WYNN 128, BIDU 124.50, CHKP 50.25, WPRT 20.50. AEM can be bought with a buy stop of 69.15, if and when it can take out its 200 day MA.
Stocks that can be shorted at 50 day resistance are AAPL 360, COG 67.25, RRC 58, GNC 22. Stocks that met 50 day resistance today were AN DG DLTR ORLY CL HSY LVS GSK VPHM AAPL. COG lost its 50 day today.
Good luck. I will be on vacation until mid next week. Posts will resume then.
The author is long WNR. We sold FCX for a small loss.
Sunday, August 21, 2011
Weekend Warrior
Markets ended a rough week Friday, with hallmark bearish action. Opening on their highs and closing hard upon their lows. Speaking of bearish action the Nazz and S&P 500 are both closing in on the bear market threshold of 20%. The Nasdaq which took the hardest hit this week, down by 6.6%, is now 18.9% off its recent 52 week high. The Nazz Friday had 4 stocks hitting 52 week highs, versus 276 new 52 week lows. The S&P 500 is now 18% from its 52 week high, and lost 4.6% this week. Not surprisingly, gold/silver miners were the strongest group of the week. Oil lost more then 4% on the week, with some citing this as bullish for consumers. I see it as economic weakness. We are certainly not economists here, strictly stock pickers, so we will discuss specific stocks that indicate possible recession. Since 2/3s of GDP is consumer spending, a look at some of the last bastions of strength falling apart this week was troublesome. LULU lost 21% for the week. It also had a very bearish outside week. Other retailers having outside weeks and their weekly losses were ANF 20%, CROX 19%, DECK 22%. Other leading stocks which were beat up included GMCR losing 19% this week and its 50 day MA. AMZN lost 12% this week, and with it its long term 200 day support. NFLX gave up 16% this week also surrendering its 200 day MA in the process. QCOR AAPL both recent standouts pierced their 50 day MAs to the downside Friday. Two recent tech leaders IBM ACN lost their 200 day MAs this week with ACN giving back a lucky 13% on the week. KSU a rail stalwart lost 15% this week, and had an outside week as well. Speaking of possible recession a look at some monthly losses in the key chemical sector cites major concerns. ALB down 33%, CE 29%, ROC 26%, EMN 25%. Steel stocks with mind numbing yearly losses are X lower by 55%, MT 49%. When will this malaise end? Who knows? Probably when current leading groups such as alcohol, tobacco, food, gold/silver miners stop outperforming. But we could be heading for a secular bear market. But remember opinion counts little. Be small and nimble in these precarious times and cut losses promptly.
Stocks near 200 day support include LULU 42.80, CMG 266, ORLY 59.10, TJX 50, CL 81.85, HLF 44, BGS 16.55, KO 65.50, HSY 52.90, HRL 27.25, EXPE 25.90, IACI 32.60, CERN 53.95, V 77, GSK 40.50, AAPL 342, OKE 63.90, SM 66, WNR 14.95, AH 22.05, WCN 29.50, SLW 37, WPRT 20.95, BVN 43.45. Stocks that received 200 day support Friday were SCSS SBUX RL BIDU DFS SLW. Stocks that can be shorted at 200 day resistance are EAT 23.20, FAST 31.25, LTD 34.60, DAR 15, SINA 93.25, CAH 41.50, UNH 44.05, VPHM 18, ROC 47, CBS 23.10, ARMH 25.90. Stocks that met 200 day resistance Friday were EAT COST ROST MON PCLN CRS GPOR. Stocks that can be shorted as they lose 200 day support and their sell stop spots are SCSS 12.40, TUP 56.50, RL 120.25, WYNN 128.50, BIDU 124.50, CHKP 50.10, ADS 81.60, IRM 27.70. Stocks that lost 200 day support Friday were WFM EL TPX SINA CHK HLX ROSE. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are COST 75.90, ROST 71.60, ABT 49.75, MTZ 18.45, AEM 68.50.
Stocks near 50 day support, and at the expense of sounding like a broken record are becoming fewer and fewer, are MCD 85, ABV 31.60, ARCO 22.30. ALXN PM both found support at their 50 day MAs Friday. Stocks that can be shorted at 50 day resistance are DLTR 66.25, TSCO 56, LVS 43. Stocks that met 50 day resistance Friday were MOS HFC AN DLTR ORLY TJX TSCO HNZ. COG can be shorted if it loses its 50 day MA with a sell stop of 65.70. KO JAZZ RRC all lost their 50 day MAs Friday. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are AN 36.45, CHD 41.10.
Good luck.
The author owns FCX WNR.
Stocks near 200 day support include LULU 42.80, CMG 266, ORLY 59.10, TJX 50, CL 81.85, HLF 44, BGS 16.55, KO 65.50, HSY 52.90, HRL 27.25, EXPE 25.90, IACI 32.60, CERN 53.95, V 77, GSK 40.50, AAPL 342, OKE 63.90, SM 66, WNR 14.95, AH 22.05, WCN 29.50, SLW 37, WPRT 20.95, BVN 43.45. Stocks that received 200 day support Friday were SCSS SBUX RL BIDU DFS SLW. Stocks that can be shorted at 200 day resistance are EAT 23.20, FAST 31.25, LTD 34.60, DAR 15, SINA 93.25, CAH 41.50, UNH 44.05, VPHM 18, ROC 47, CBS 23.10, ARMH 25.90. Stocks that met 200 day resistance Friday were EAT COST ROST MON PCLN CRS GPOR. Stocks that can be shorted as they lose 200 day support and their sell stop spots are SCSS 12.40, TUP 56.50, RL 120.25, WYNN 128.50, BIDU 124.50, CHKP 50.10, ADS 81.60, IRM 27.70. Stocks that lost 200 day support Friday were WFM EL TPX SINA CHK HLX ROSE. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are COST 75.90, ROST 71.60, ABT 49.75, MTZ 18.45, AEM 68.50.
Stocks near 50 day support, and at the expense of sounding like a broken record are becoming fewer and fewer, are MCD 85, ABV 31.60, ARCO 22.30. ALXN PM both found support at their 50 day MAs Friday. Stocks that can be shorted at 50 day resistance are DLTR 66.25, TSCO 56, LVS 43. Stocks that met 50 day resistance Friday were MOS HFC AN DLTR ORLY TJX TSCO HNZ. COG can be shorted if it loses its 50 day MA with a sell stop of 65.70. KO JAZZ RRC all lost their 50 day MAs Friday. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are AN 36.45, CHD 41.10.
Good luck.
The author owns FCX WNR.
Thursday, August 18, 2011
Thursday Recap
Markets returned to their schizophrenic ways Tuesday, not surprisingly to the downside. The writing has been on the wall for some time now. We brought that up on 8/2 when the 200 day on the S&P 500 evaporated. Since then volume has been high and rising on soft days, and weak on days the indexes gain. Add to that the way markets have for the most part been closing hard upon their lows, classic bearish action. Leading stocks, always a great barometer of general market health, have been slimmer and slimmer every day. Forget about healthy stocks which look for 50 day support, the number that have been violating 200 day support, a real negative sign are growing as well. Today a number fit that bill. NFLX lost its 200 day for first time in years today giving up 6%. Others that lost ground and their 200 day MAs today were PCLN, AMZN both down 7%. SBUX DECK HAL ACN all gave back 10%. KSU 12%. IBM did garner good 200 day support today. Speaking about the 50 day MAs, 3 market generals lost 50 day support today. GMCR gave back 11%, CMG 8%, CROX 7%. Others actually held strong and bounced off 50 day support incredulously today. They include (and are the last of the market generals, and therefore must be given serious credit) AAPL KO MCD JAZZ COG ABV. Stocks that finished higher today, demonstrating excellent relative strength today were, ORLY SINA, and continuing the theme we discussed yesterday were cheap retailers TGT WMT. ANN reports before the bell.
Stocks near 200 day support are AN 32.15, TJX 50, TPX 52, HNZ 50.50, HRL 27.15, EXPE 25.95, WYNN 129.50, IACI 32.60, ADS 82, V 77, GSK 40.50, WPI 58.15, WNR 14.95, WCN 29.30, ABX 49.20. Stocks that found 200 day support today were TGI ORLY SCSS WFM EL BGS BIDU SINA EZPW CHK HLX ROSE WPRT. Stocks that can be shorted as they lose their 200 day MAs and their sell stops are SCSS 12.50, CERN 53.50, CHKP 50, DFS 22.05, CI 43.75, IRM 28.75. Stocks that lost 200 day support today were ANF AMZN BBBY EAT DSW FAST SFLY TSCO DAR MON POT PENN FTNT QLIK AET ABT AGN FRX UNH VPHM PLCM CRS MTZ ROC CBS VIAB ATW GPOR PTEN WTI WMB NSC SLW. Stocks that can be shorted at 200 day resistance are EAT 23.20, LTD 34.50, PETM 41.70, HS 36.10, MTZ 18.
Stocks near 50 day support, being rarer and rarer these days are QCOR 27, SLW 35.25. PM RRC managed to find 50 day support today. HSY can be shorted at 50 day resistance at 56.50. Stocks that lost their 50 day MAs today were WFM RL LVS CHKP GNC HFC SM AH ALXN.
Good luck.
The author owns FCX WNR. We cut positions in half today. Look for support on WNR at 200 day. If not sayonara.
Stocks near 200 day support are AN 32.15, TJX 50, TPX 52, HNZ 50.50, HRL 27.15, EXPE 25.95, WYNN 129.50, IACI 32.60, ADS 82, V 77, GSK 40.50, WPI 58.15, WNR 14.95, WCN 29.30, ABX 49.20. Stocks that found 200 day support today were TGI ORLY SCSS WFM EL BGS BIDU SINA EZPW CHK HLX ROSE WPRT. Stocks that can be shorted as they lose their 200 day MAs and their sell stops are SCSS 12.50, CERN 53.50, CHKP 50, DFS 22.05, CI 43.75, IRM 28.75. Stocks that lost 200 day support today were ANF AMZN BBBY EAT DSW FAST SFLY TSCO DAR MON POT PENN FTNT QLIK AET ABT AGN FRX UNH VPHM PLCM CRS MTZ ROC CBS VIAB ATW GPOR PTEN WTI WMB NSC SLW. Stocks that can be shorted at 200 day resistance are EAT 23.20, LTD 34.50, PETM 41.70, HS 36.10, MTZ 18.
Stocks near 50 day support, being rarer and rarer these days are QCOR 27, SLW 35.25. PM RRC managed to find 50 day support today. HSY can be shorted at 50 day resistance at 56.50. Stocks that lost their 50 day MAs today were WFM RL LVS CHKP GNC HFC SM AH ALXN.
Good luck.
The author owns FCX WNR. We cut positions in half today. Look for support on WNR at 200 day. If not sayonara.
Wednesday, August 17, 2011
Wednesday After Market
Markets gave back early gains today, closing mixed. Volume tapered off, normal for the summer doldrums season. The S&P 500 finished slightly up, the Nazz down 0.5%. Leading stocks were weak today, and everyday it seems more leaders are giving up their superior status. When the generals fall, it is definitely a time for caution. Retail leaders, which were some of the last bastions of strength are faltering. LULU lost another 3% today, after losing both 4.5% and its 50 day MA Tuesday. DECK lost 7% today but managed to garner 200 day support. ANF lost 9% today. Other former leaders looking recently bruised include HLF TPX COH. Speaking of retail, has anyone realized the only solid earnings results are coming from the cheap category. WMT Tuesday (stopped right at its 50 day MA), TGT today (stopped right at its 200 day). That is contrast to the luxury retailers that were holding up until recently. TIF JWN SKS come to mind. NFLX, yet another leader trying to find its way, heading for a 200 day test very soon. Software stocks took a hit today too. CRM down 5%, INFA 5%, VMW 4.5%, TIBX 4%. Both retail and software were strong solid groups in the not to distant past. Piggybacking Warren Buffett (whose tax the super rich tirades are getting old and quite frankly misguided), proved futile today. DG gave back all of yesterdays gains and then some. Groupmate DLTR had a bearish outside reversal. DLTR ROST report before the bell tomorrow and CRM reports after the close.
Stocks near 50 day support are GNC 22, TJX 53, CHD 40.75, CROX 26.50, RL 130.50, ALXN 50, CHK 30.80. Stocks that received 50 day support today were TGI CMG SBUX CL HSY WYNN CHKP V. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are WCN 32, IBM 173.50, AN 36.25, ORLY 62.15, HNZ 53, MON 71.10, POT 56.50, BIDU 140.75, DFS 25, GSK 42.75 ATW 43.60. Stocks that retook their 50 day MAs today were WFM MOS PM.
Stocks near 200 day MAs are ANF 61.90, BBBY 51.10, COST 75, FAST 31.15, BGS 16.50, DAR 15, PENN 37.05, FRX 34, UNH 44, VPHM 18, CRS 45.25, MTZ 18, VIAB 45, GPOR 26.50, HAL here, HLX 15, ACN 53, SLW 37, ABX 49.20. Stocks that found 200 day support today were ROST DECK QLIK AET ABT AGN CAH CI VPHM VIAB PTEN WMB KSU NSC. Stocks that can be shorted at 200 day resistance are GR 88.10, EBAY 31.10, GPC 52.05, M 25.75, NKE 84.40, HOG 38, WYN 31.50, RAX 37.10, NCR 17.75, GSM 20.50, PX 99, BHI 66, CPX 30.25, HP 58.75, OIS 71, TD 80.25, CCK 36.50, CE 45. Stocks that met 200 day resistance today were GR FOSL SAH YUM NKE LVS BAX HS AMT CVX CPX HP SWN SGY SPN BMO CNI BLL BWA ARMH. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are EAT 23.10, DSW 42.25, SFLY 45.40, SINA 91.75, QLIK 27. Stocks that lost their 200 day MAs today were LTD TIF PLCM. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are YUM 51.85, HS 36.75, MSI 41.25. FTNT MHP both retook their 200 day MAs today.
Stocks that can be shorted at 50 day resistance are HLF 56.25, TUP 65.25, HRL 29, ADS 92.75, WPI 66.40, IRM 33. Stocks that met 50 day resistance today were MSFT GPOR ROSE WNR WCN LULU AN ORLY TUP POT PCLN GOOG. EXPE VMW lost their 50 day MAs today.
Good luck.
The author owns FCX WNR.
Stocks near 50 day support are GNC 22, TJX 53, CHD 40.75, CROX 26.50, RL 130.50, ALXN 50, CHK 30.80. Stocks that received 50 day support today were TGI CMG SBUX CL HSY WYNN CHKP V. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are WCN 32, IBM 173.50, AN 36.25, ORLY 62.15, HNZ 53, MON 71.10, POT 56.50, BIDU 140.75, DFS 25, GSK 42.75 ATW 43.60. Stocks that retook their 50 day MAs today were WFM MOS PM.
Stocks near 200 day MAs are ANF 61.90, BBBY 51.10, COST 75, FAST 31.15, BGS 16.50, DAR 15, PENN 37.05, FRX 34, UNH 44, VPHM 18, CRS 45.25, MTZ 18, VIAB 45, GPOR 26.50, HAL here, HLX 15, ACN 53, SLW 37, ABX 49.20. Stocks that found 200 day support today were ROST DECK QLIK AET ABT AGN CAH CI VPHM VIAB PTEN WMB KSU NSC. Stocks that can be shorted at 200 day resistance are GR 88.10, EBAY 31.10, GPC 52.05, M 25.75, NKE 84.40, HOG 38, WYN 31.50, RAX 37.10, NCR 17.75, GSM 20.50, PX 99, BHI 66, CPX 30.25, HP 58.75, OIS 71, TD 80.25, CCK 36.50, CE 45. Stocks that met 200 day resistance today were GR FOSL SAH YUM NKE LVS BAX HS AMT CVX CPX HP SWN SGY SPN BMO CNI BLL BWA ARMH. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are EAT 23.10, DSW 42.25, SFLY 45.40, SINA 91.75, QLIK 27. Stocks that lost their 200 day MAs today were LTD TIF PLCM. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are YUM 51.85, HS 36.75, MSI 41.25. FTNT MHP both retook their 200 day MAs today.
Stocks that can be shorted at 50 day resistance are HLF 56.25, TUP 65.25, HRL 29, ADS 92.75, WPI 66.40, IRM 33. Stocks that met 50 day resistance today were MSFT GPOR ROSE WNR WCN LULU AN ORLY TUP POT PCLN GOOG. EXPE VMW lost their 50 day MAs today.
Good luck.
The author owns FCX WNR.
Tuesday, August 16, 2011
Tuesday Recap
Markets fell Tuesday in spite of decent economic data. Most eyes were on Europe and the disappointment they brought. Germany, Europe's economic engine, had anemic growth in its GDP report. Volume increased, an ominous sign, as the markets fell today. Even worse was the action of leading stocks. Leaders that lost their 50 day MAs today, and under performed the markets handily today were LULU BIDU SINA IACI. FOSL lost 7%, and its 200 day MA in the process. CRM had a bearish outside day, also losing its 200 day MA in the process. And the stocks that demonstrated good relative strength today hailed mainly from defensive sectors, like ABV ROST DLTR DG. DELL was lower after hours on earnings, citing a lack of clarity going forward. Tomorrow we have earnings from ANF DE before the bell and LTD SINA after the close.
Stocks near 50 day support are MCD 84.60, CHD 40.70, KO 67, CROX 26.40, LVS 42.50, V 83, ALXN 50, CHK 30.85, AEM 62. Stocks that found 50 day support today were SBUX TJX HSY EXPE WYNN CHKP ABV. Stocks that can be bought as they reclaim thier 50 day MAs and their buy stop spots are MOS 67, WCN 31.95.
Stocks near 200 day support are DSW 42.95, FAST 31.10, ORLY 59.05, SFLY 45.90, WFM 57, DAR 14.95, QLIK 27.15, EZPW 29.50, FRX 34, UNH 44, PLCM 24.50, CRS 45.10, MTZ 18, ATW 41.10, GPOR 26.40, HAL 45.20, KSU 52.75, ACN 53, SLW 37, ABX 49.10. Stocks that found 200 day support today were TGI LTD ROST MON POT ABT CI VPHM CVX HAL PTEN WTI WMB NSC. Stocks that can be shorted at 40 week resistance are JWN 44.60, PVH 64.50, HOG 38, WYN 31.40, RAX 37.25, INFA 49.10, BAX 54.10, PX 99, RDC 37, SPN 36, BWA 71.90, AVGO 31.25. Stocks that met 40 week resistance today were GR M JWN SAH YUM HOG NCR GSM OIS SWN SGY BLL BWA. Stocks that can be bought as they reclaim their 40 week MAs and their buy stop spots are EABY 31.25, HS 36.50. COST AGN both reclaimed their 200 day MAs today. Stocks that lost 200 day support Tuesday were TIF NKE RAX FTNT INFA CE PX VIAB CPX NBL CNI AVGO.
Stocks that can be shorted at 50 day resistance are AN 36.05, TUP 65.25, HRL 29, ADS 92.50, IRM 33. Stocks that met 50 day resistance today were EAT HLF TUP PENN PM MTZ NBL. GOOG lost its 50 day MA today.
Good luck.
The author owns FCX WNR.
Stocks near 50 day support are MCD 84.60, CHD 40.70, KO 67, CROX 26.40, LVS 42.50, V 83, ALXN 50, CHK 30.85, AEM 62. Stocks that found 50 day support today were SBUX TJX HSY EXPE WYNN CHKP ABV. Stocks that can be bought as they reclaim thier 50 day MAs and their buy stop spots are MOS 67, WCN 31.95.
Stocks near 200 day support are DSW 42.95, FAST 31.10, ORLY 59.05, SFLY 45.90, WFM 57, DAR 14.95, QLIK 27.15, EZPW 29.50, FRX 34, UNH 44, PLCM 24.50, CRS 45.10, MTZ 18, ATW 41.10, GPOR 26.40, HAL 45.20, KSU 52.75, ACN 53, SLW 37, ABX 49.10. Stocks that found 200 day support today were TGI LTD ROST MON POT ABT CI VPHM CVX HAL PTEN WTI WMB NSC. Stocks that can be shorted at 40 week resistance are JWN 44.60, PVH 64.50, HOG 38, WYN 31.40, RAX 37.25, INFA 49.10, BAX 54.10, PX 99, RDC 37, SPN 36, BWA 71.90, AVGO 31.25. Stocks that met 40 week resistance today were GR M JWN SAH YUM HOG NCR GSM OIS SWN SGY BLL BWA. Stocks that can be bought as they reclaim their 40 week MAs and their buy stop spots are EABY 31.25, HS 36.50. COST AGN both reclaimed their 200 day MAs today. Stocks that lost 200 day support Tuesday were TIF NKE RAX FTNT INFA CE PX VIAB CPX NBL CNI AVGO.
Stocks that can be shorted at 50 day resistance are AN 36.05, TUP 65.25, HRL 29, ADS 92.50, IRM 33. Stocks that met 50 day resistance today were EAT HLF TUP PENN PM MTZ NBL. GOOG lost its 50 day MA today.
Good luck.
The author owns FCX WNR.
Monday, August 15, 2011
Monday Thoughts
Markets Monday flew higher Monday, returning to the former days of Monday strength. The S&P 500 was up 2.18%, outperforming the Nazz gain of 1.88%. Volume was soft, lessening the conviction of the rally. A weak Empire Manufacturing index was shrugged off, bullish since ignoring bearish news. This seems to me to be a dead cat bounce long in the tooth, but he tape must be respected. Oil continues to advance, a possible sign of the economy feeling better? More bearish news being shrugged off was RIG going higher even after a 60 Minutes beating. Leading stock GOOG found support exactly at its 10 week MA after announcing a buyout of MMI for a big premium. The biggest gains in the markets came from some of the most defensive sectors such as utilities and tobacco. Not the most encouraging sign. Tomorrow TJX reports before the bell. Others reporting that may have market impact are WMT HD DELL.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are SWKS 23.60, WCN 31.90, IRM 33.10, KSU 56.90, WNR 18.10, ROSE 50, NBL 90.25, ROC 54.25, MTZ 19.80, ADS 93, QLIK 31.25, CERN 61.25, PENN 39.70, POT 56.25, MOS 66.90, MON 71, AGU 86.25, CL 86.55, WFM 61.60, SAH 14.30, ORLY 62, FAST 33.60, EBAY 31.25, BBBY 56.25, AMZN 205.50. Stocks that retook their 50 day MAs today were TGI ANF EAT SBUX HLF HSY EXPE PCLN WYNN CHKP VPHM ABV PM ATW GPOR HLX IBM WPRT. Stocks near 50 day support are ANF 70, MCD 84.50, CHD 40.75, HLF 56.25, KO 67.10, EXPE 29, BIDU 140, IACI 37.60, ALXN 50, ABV 31.55, AH 27.05. Stocks that found 50 day support today were TJX KO SINA AEM.
Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are GR 88.65, PAG 19.15, HS 36.60, NCR 17.90, AMT 51.95, MSI 41.25, ALB 60.50, APC 75.50, BHI 66.25, NOV 72, PXP 34.80, SWN 40.25, BMO 61.80, BWA 72. Stocks that retook their 200 day MAs today were HOG LVS FTNT INFA CRM CAH VPHM GSM CE PX CVX NBL OIS SGY SPN WTI WMB CNI ARMH. Stocks near 200 day support are ROST 71, TIF 66, AET 37.20, UNH 44, PLCM 24.50, CBS 23, VIAB 45.05, CPX 30.20. Stocks that found 200 day support at 200 day support today were DRI FOSL M LTD PETM ROST ABT AET CI FRX PTEN BLL SLW ABX AVGO. Stocks that can be shorted at 200 day resistance are BEAV 37.10, COST 75, GPC 52, COH 57, TIBX 24.70, AXP 46.60, BAX here, LYB 36.75, MHP here, RDC 37, XLNX 32, MCO here. Stocks that met 200 day resistance today were JWN TIBX AGN BAX HS NCR MHP. RAX can be shorted with a sell stop of 36.50, its 200 day MA.
Stocks that can be shorted at 50 day resistance are LTD 37.15, DFS 24.75, SPN 37.05, MXIM 24, TUP here. Stocks that found 50 day resistance today were AN CL TUP MON MOS MTZ.
Good luck.
The author owns FCX WNR.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are SWKS 23.60, WCN 31.90, IRM 33.10, KSU 56.90, WNR 18.10, ROSE 50, NBL 90.25, ROC 54.25, MTZ 19.80, ADS 93, QLIK 31.25, CERN 61.25, PENN 39.70, POT 56.25, MOS 66.90, MON 71, AGU 86.25, CL 86.55, WFM 61.60, SAH 14.30, ORLY 62, FAST 33.60, EBAY 31.25, BBBY 56.25, AMZN 205.50. Stocks that retook their 50 day MAs today were TGI ANF EAT SBUX HLF HSY EXPE PCLN WYNN CHKP VPHM ABV PM ATW GPOR HLX IBM WPRT. Stocks near 50 day support are ANF 70, MCD 84.50, CHD 40.75, HLF 56.25, KO 67.10, EXPE 29, BIDU 140, IACI 37.60, ALXN 50, ABV 31.55, AH 27.05. Stocks that found 50 day support today were TJX KO SINA AEM.
Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are GR 88.65, PAG 19.15, HS 36.60, NCR 17.90, AMT 51.95, MSI 41.25, ALB 60.50, APC 75.50, BHI 66.25, NOV 72, PXP 34.80, SWN 40.25, BMO 61.80, BWA 72. Stocks that retook their 200 day MAs today were HOG LVS FTNT INFA CRM CAH VPHM GSM CE PX CVX NBL OIS SGY SPN WTI WMB CNI ARMH. Stocks near 200 day support are ROST 71, TIF 66, AET 37.20, UNH 44, PLCM 24.50, CBS 23, VIAB 45.05, CPX 30.20. Stocks that found 200 day support at 200 day support today were DRI FOSL M LTD PETM ROST ABT AET CI FRX PTEN BLL SLW ABX AVGO. Stocks that can be shorted at 200 day resistance are BEAV 37.10, COST 75, GPC 52, COH 57, TIBX 24.70, AXP 46.60, BAX here, LYB 36.75, MHP here, RDC 37, XLNX 32, MCO here. Stocks that met 200 day resistance today were JWN TIBX AGN BAX HS NCR MHP. RAX can be shorted with a sell stop of 36.50, its 200 day MA.
Stocks that can be shorted at 50 day resistance are LTD 37.15, DFS 24.75, SPN 37.05, MXIM 24, TUP here. Stocks that found 50 day resistance today were AN CL TUP MON MOS MTZ.
Good luck.
The author owns FCX WNR.
Saturday, August 13, 2011
Weekend Stock Reflections
Markets settled down Friday after a roller coaster of a ride from Monday-Thursday. For the week the Nazz finished down 1%, continuing its out performance for the week. The S&P 500 lost 1.7%, not bad considering it was lower intra week by 8% at one point. The small 1% moves for the indexes Friday were a welcoming sign. An index of leading stocks (from Investor Business Daily), showed a gain of 0.9%. Not a bad sign. Also some macro developments this week showed promise. Jobless claims fell and retail sales rose. Some judicial news that was bearish for health care stocks (an Atlanta circuit appeals courts found the individual mandate in Obamacare was unconstitutional), was construed bullsihly. When stocks such as AET CI UNH, respond positively to bad news (all three regained their 200 day MAs), it has to be interpreted bullishly. Gold miners and ag stocks shined. Banks were hit hard last week, with BAC down 12%, MS having a bearish outside reversal Friday, and AXP meeting 200 day MA resistance to the penny. With the market still in correction mode now is the time to be building watch lists. Keeping an eye on recent IPOs is a good idea. GNC, which is still holding above its 50 day MA, a rarity these days and QLIK should be put on your radar. A EL both report before the bell Monday.
Stocks than can be bought as they reclaim their 50 day MAs and their buy stop spots are TGI 49.30, AMZN 205, AN 36.25, BBBY 56.30, FAST 33.55, ORLY 62, SAH 14.40, SBUX 38.25, CL 86.40, HLF 56.50, HSY 56.50, MON 71, MOS 67, POT 56.25, EXPE 29.25, WYNN 148, CHKP 56.25, VPHM 18.50, ABV 31.75, PM 68.30, MTZ 19.60, HLX 16.95, WCN 32, WPRT 23.90. Stocks that retook their 50 day MAs Friday were LULU DLTR KO DECK IACI. Stocks near 50 day support are MCD 84.40, TJX 52.90, CHD 40.65, KO 67, CROX 26, GNC 21.55, V 82.50, CHK 30.75, SM 72.50. TJX IACI SINA ALXN AEM all found 50 day support Friday.
Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are GR 88.50, EBAY 31.30 M 25.85, PAG 19.20, DPS 38.25, DPS 38.25, NKE 84.95, PVH 65.25, HOG 38.30, LVS 45, FTNT 20.55, INFA 49.50, AGN 75.35, HS 36.30, GSM 20.75, CE 44.80, CVX 98.25, NBL 89.40, WMB 28.40, CNI 72, ARMH 26. Stocks that retook their 200 day MAs Friday were FOSL PETM ROST HNZ AET CI UNH PTEN. Stocks near 200 day support are DSW 42.75, DG 31, FAST 31.10, ORLY 59.05, TIF 66, TSCO 55.25, BGS 16.50, HRL 27.10, QLIK 27.10, GSK 40.30, PLCM 24.50, CBS 23, VIAB 45, HFC 67.50, KSU 52.80, NSC 67.40, ACN 53. Stocks that found 200 day support Friday were WFM DAR VMW FRX CPX HAL HP KSU SLW ABX. Stocks that can be shorted at 200 day resistance are COST 74.75, GPC 52, COH 57, ICON 21.20, WYN 31.10, BAX 54, NCR 17.65, MSI 41, ALB 60.10, LYB 36.50, MHP 39, SWN 40, SPN 36, JBHT 43, MCO 32.90, BWA 71.90. Stocks that found 200 day resistance Friday were GR M LTD YUM NKE CRM AXP CAH VPHM GSM PX APC SGY WTI WMB CNI BLL.
Stocks that can be shorted at 50 day resistance are EAT 24.30, PETM 43.95, TUP 65.25, CERN 61, EZPW 33.10. Stocks that met 50 day resistance Friday are ANF AMZN AN EAT JWN SAH EL PCLN WYNN DFS ABV GPOR ROSE WNR.
Good luck.
The author owns WNR FCX.
Stocks than can be bought as they reclaim their 50 day MAs and their buy stop spots are TGI 49.30, AMZN 205, AN 36.25, BBBY 56.30, FAST 33.55, ORLY 62, SAH 14.40, SBUX 38.25, CL 86.40, HLF 56.50, HSY 56.50, MON 71, MOS 67, POT 56.25, EXPE 29.25, WYNN 148, CHKP 56.25, VPHM 18.50, ABV 31.75, PM 68.30, MTZ 19.60, HLX 16.95, WCN 32, WPRT 23.90. Stocks that retook their 50 day MAs Friday were LULU DLTR KO DECK IACI. Stocks near 50 day support are MCD 84.40, TJX 52.90, CHD 40.65, KO 67, CROX 26, GNC 21.55, V 82.50, CHK 30.75, SM 72.50. TJX IACI SINA ALXN AEM all found 50 day support Friday.
Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are GR 88.50, EBAY 31.30 M 25.85, PAG 19.20, DPS 38.25, DPS 38.25, NKE 84.95, PVH 65.25, HOG 38.30, LVS 45, FTNT 20.55, INFA 49.50, AGN 75.35, HS 36.30, GSM 20.75, CE 44.80, CVX 98.25, NBL 89.40, WMB 28.40, CNI 72, ARMH 26. Stocks that retook their 200 day MAs Friday were FOSL PETM ROST HNZ AET CI UNH PTEN. Stocks near 200 day support are DSW 42.75, DG 31, FAST 31.10, ORLY 59.05, TIF 66, TSCO 55.25, BGS 16.50, HRL 27.10, QLIK 27.10, GSK 40.30, PLCM 24.50, CBS 23, VIAB 45, HFC 67.50, KSU 52.80, NSC 67.40, ACN 53. Stocks that found 200 day support Friday were WFM DAR VMW FRX CPX HAL HP KSU SLW ABX. Stocks that can be shorted at 200 day resistance are COST 74.75, GPC 52, COH 57, ICON 21.20, WYN 31.10, BAX 54, NCR 17.65, MSI 41, ALB 60.10, LYB 36.50, MHP 39, SWN 40, SPN 36, JBHT 43, MCO 32.90, BWA 71.90. Stocks that found 200 day resistance Friday were GR M LTD YUM NKE CRM AXP CAH VPHM GSM PX APC SGY WTI WMB CNI BLL.
Stocks that can be shorted at 50 day resistance are EAT 24.30, PETM 43.95, TUP 65.25, CERN 61, EZPW 33.10. Stocks that met 50 day resistance Friday are ANF AMZN AN EAT JWN SAH EL PCLN WYNN DFS ABV GPOR ROSE WNR.
Good luck.
The author owns WNR FCX.
Thursday, August 11, 2011
Thursday Recap
Markets flew Thursday as the yo yo action of the week continued. Volume was lower than Wednesdays levels but above average. The Nazz was up 4.7%, while the S&P 500 was up 4.6%. The violent up and down action on the indexes signaling a bottom? It seems to be putting in a bid under the market. A surprising drop in jobless claims today added to the joy mood on Wall st. Perhaps all the "Markets in turmoil" shows and magazine covers are acting as contrarian indicators. As always follow the indexes and leading stocks to determine whether it is safe again to enter equities. Today leading stocks under performed the indexes, not a great sign. And demand heavier volume on up days. With the massive gains from Tuesday and Thursday the markets are all still down 2% or more for the week. Good earnings announcements are being rewarded with positive price action again as CSCO NWS both delivered 16% gains today. That is certainly a positive.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are LULU 55.10, ANF 70.50, AMZN 204.25, AN 36.25, DLTR 66.40, SBUX 38.25, CL 86.30, HLF 56.50, KO 67.25, HSY 56.50, ON 71, EXPE 29.20, IACI 38.10, HLX 17, WNR 18.10. Stocks that retook their 50 day MAs today were CMG TJX CHD RL SINA V ALXN CHK RRC. HFC SM both found support at their 50 day MA today and CROX can be bought at 26, its 50 day MA.
Stocks near 200 day support are SCSS 12.75, BGS 16.45, QLIK 27.20, WPRT 20.75. Stocks that found 200 day support today were SFLY CRS CBS ACN IRM SLW. Stocks that can be bought as they retake their 200 day MA and their buy stop spots are EBAY 31.25, M 25.80, PAG 19.25, ROST 71.75, SAH 14.25, HOG 38.25, INFA 49.40, AET 37.40, GSM 20.50, CPX 30.75, PTEN 26.40, WTI 21.50, WMB 28.20, CNI 72.15, AVGO 31.40. Stocks that retook their 200 day MAs today were BBBY EAT DG FAST FOSL TJF WFM DV HRL DAR VMW CHKP DFS EZPW PLCM ABV MTZ VIAB ATW GPOR HAL KSU NSC. Stocks that can be shorted at 200 day resistance are JWN 44.55, RAX here, TIBX 24.65, BAX 54.05, NCR 17.70, MSI 40.95, LYB 36.50, SWN 40, XLNX 32, BLL here. Stocks that met 200 day resistance today were M LTD ORLY YUM HNZ HBI NKE PENN CRM CI UNH PX APC HP NBL.
TUP can be shorted at 65, its 50 day MA. LULU DECK IACI all met 50 day resistance today.
Good luck.
The author owns WNR FCX.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are LULU 55.10, ANF 70.50, AMZN 204.25, AN 36.25, DLTR 66.40, SBUX 38.25, CL 86.30, HLF 56.50, KO 67.25, HSY 56.50, ON 71, EXPE 29.20, IACI 38.10, HLX 17, WNR 18.10. Stocks that retook their 50 day MAs today were CMG TJX CHD RL SINA V ALXN CHK RRC. HFC SM both found support at their 50 day MA today and CROX can be bought at 26, its 50 day MA.
Stocks near 200 day support are SCSS 12.75, BGS 16.45, QLIK 27.20, WPRT 20.75. Stocks that found 200 day support today were SFLY CRS CBS ACN IRM SLW. Stocks that can be bought as they retake their 200 day MA and their buy stop spots are EBAY 31.25, M 25.80, PAG 19.25, ROST 71.75, SAH 14.25, HOG 38.25, INFA 49.40, AET 37.40, GSM 20.50, CPX 30.75, PTEN 26.40, WTI 21.50, WMB 28.20, CNI 72.15, AVGO 31.40. Stocks that retook their 200 day MAs today were BBBY EAT DG FAST FOSL TJF WFM DV HRL DAR VMW CHKP DFS EZPW PLCM ABV MTZ VIAB ATW GPOR HAL KSU NSC. Stocks that can be shorted at 200 day resistance are JWN 44.55, RAX here, TIBX 24.65, BAX 54.05, NCR 17.70, MSI 40.95, LYB 36.50, SWN 40, XLNX 32, BLL here. Stocks that met 200 day resistance today were M LTD ORLY YUM HNZ HBI NKE PENN CRM CI UNH PX APC HP NBL.
TUP can be shorted at 65, its 50 day MA. LULU DECK IACI all met 50 day resistance today.
Good luck.
The author owns WNR FCX.
Wednesday, August 10, 2011
Wednesday After Market
Markets sunk Wednesday on renewed economic jitters and European concerns. The S&P 500 gave back almost of all Tuesdays gains falling 4.4%. The Nazz "outperformed" for the second straight day losing 4.1%. Volume was weaker than Tuesdays levels. Volatility remained high, as the Vix climbed over 22% on the day. On a miserable tape it often pays to watch stocks that demonstrate solid relative strength. Today those stocks were LULU FOSL CHD EL SODA TUP RL SINA JAZZ COG HFC WNR. If the market can regain its footing these may be the first to shoot higher out of the starting gate. That is a big if however. As we write futures are trading nicely higher. With the market in correction mode, buys remain risky at best. Today gold miners shined as the metal rose above $1800 an ounce for the first time. Banks were hit hard though with GS MS both down over 10%. Charts are busted up and could take weeks before the dust settles. For now see how individual stocks perform near their 50 and 200 day MAs. Cut losses quick and keep positions small and nimble. CSCO was up in after hours trading on earnings. Tomorrow earnings before the bell come from SODA EAT and after the close from DAR DV MCP JWN.
Stocks near 50 day support are CROX 25.95, GOOG 542, AAPL 355. Stocks which found 50 day support today were MCD SODA BIDU COG SM. AEM retook its 50 day MA today.
Stocks near 200 day support are ANF 60.80, AMZN 185, AN 34, DSW 42.50, TJX 49.65, TUP 56.30, BGS 15.45, HSY 52.50, EXPE 25.95, NFLX 222.50, SINA 93, CERN 53.30, ADS 80.70, V 76.75, ALXN 45.10, WPI 58, PM 63.55, IBM 160.75, WCN 29.35. Stocks that found 200 day support Wednesday were SCSS SFLY SBUX TSCO EL DECK CRS ROC CBS ROSE IRM WPRT. Stocks that can be shorted at 200 day resistance are LTD 34.45, PETM 41.55, WFM 56.50, HOG 37.90, PENN 37, RAX 37, CHKP 50.20, TIBX 24.60, CAH 41.20, MTZ 17.95, MSI 40.85, ATW 41, PTEN 26.05, ARMH 25.55, AVGO 31. Stocks that met 200 day resistance today were FAST M ORLY ROST DAR MON VMW EZPW AET UNH PLCM ABV VIAB HAL HLX WMB KSU BLL. Stocks that lost their 200 day MAs today were BBBY DG SAH CL KO QLIK DFS FRX GSK ACN. Stocks that retook their 200 day MAs, impressive on a terrible tape, were SINA WNR SLW ABX.
Stocks that can be shorted at 50 day resistance are LULU 54.10, DLTR 65.80, HLF 56.15, HSY 56.15, IACI 37.50. Stocks that met 50 day resistance today were AMZN CMG ALXN. PCLN lost its 50 day MA today.
Good luck.
We bought some WNR today as it showed strength recapturing its 200 day MA today. And some FCX. Which was strong all day relatively speaking until that plummeting close.
The author owns WNR FCX.
Stocks near 50 day support are CROX 25.95, GOOG 542, AAPL 355. Stocks which found 50 day support today were MCD SODA BIDU COG SM. AEM retook its 50 day MA today.
Stocks near 200 day support are ANF 60.80, AMZN 185, AN 34, DSW 42.50, TJX 49.65, TUP 56.30, BGS 15.45, HSY 52.50, EXPE 25.95, NFLX 222.50, SINA 93, CERN 53.30, ADS 80.70, V 76.75, ALXN 45.10, WPI 58, PM 63.55, IBM 160.75, WCN 29.35. Stocks that found 200 day support Wednesday were SCSS SFLY SBUX TSCO EL DECK CRS ROC CBS ROSE IRM WPRT. Stocks that can be shorted at 200 day resistance are LTD 34.45, PETM 41.55, WFM 56.50, HOG 37.90, PENN 37, RAX 37, CHKP 50.20, TIBX 24.60, CAH 41.20, MTZ 17.95, MSI 40.85, ATW 41, PTEN 26.05, ARMH 25.55, AVGO 31. Stocks that met 200 day resistance today were FAST M ORLY ROST DAR MON VMW EZPW AET UNH PLCM ABV VIAB HAL HLX WMB KSU BLL. Stocks that lost their 200 day MAs today were BBBY DG SAH CL KO QLIK DFS FRX GSK ACN. Stocks that retook their 200 day MAs, impressive on a terrible tape, were SINA WNR SLW ABX.
Stocks that can be shorted at 50 day resistance are LULU 54.10, DLTR 65.80, HLF 56.15, HSY 56.15, IACI 37.50. Stocks that met 50 day resistance today were AMZN CMG ALXN. PCLN lost its 50 day MA today.
Good luck.
We bought some WNR today as it showed strength recapturing its 200 day MA today. And some FCX. Which was strong all day relatively speaking until that plummeting close.
The author owns WNR FCX.
Tuesday, August 9, 2011
Tuesday Recap
Wow. Pretty much sums up the day. The volatility today was breathtaking. 71 handles intraday on the S&P 500, not counting the extreme overnight weakness. The S&P 500 gained almost 5% today on big volume. The Nazz had an intraday range of 152 points. Today the Nazz outperformed, a rare occurrence as of late, gaining 5.3%. The reversals of the indexes, and volume was impressive indeed. Perhaps the best of all, was the way the market rallied into the close. Just the opposite of the bearish behavior we have been witnessing recently. Bernanke lit a bid under the market (short covering as well), although not initially, after keeping rates on Treasuries low until at least 2013. Stocks win by default. Leaders that found 50 day support Monday, on a horrendous tape, motored ahead Tuesday outclassing the indexes percentage gains were GMCR up 11%, JAZZ 11%, AAPL 6%. Leaders did and will always outperform. Some weakness was seen by FOSL, which lost 12% and a weak earnings reaction. Its almost been halved in 3 weeks. CAG lost 2%. Weakness on a red hot tape is usually not a great sign. AH M RL all report tomorrow morning before the bell.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CMG 306, DLTR 66, SAH 14.25, HLF 57.15, KO 67.20, EXPE 29.10, IACI 37.65, HFC 67.75. Stocks that retook their 50 day MAs, which are familiar leaders that withstood the recent weakness the best as they always do, were AMZN MCD TJX SODA CROX PCLN BIDU ALXN COG SM. GOOG JAZZ ABX all found 50 day support Tuesday.
Stocks that can be bought as they retake their 200 day MAs and their buy stop spots are PAG 19.20, DAR 15, MON 68.30, HOG 38.20, GOOG 577, SINA 93.25, FTNT 20.50, ABV 29.80, PLCM 24.55, GSM 20.40, MTZ 18.10, VIAB 45.20, CHK 29.30, CPX 30.30, HAL 45.30, KSU 52.80. Stocks that retook their 200 day MAs Tuesday were TGI BBBY DG FAST ORLY SCSS SFLY SAH SBUX TIF TSCO CHD CL EL TUP BGS DECK CHKP QLIK DFS FRX GSK UNH ROC CBS OKE NSC IRM. Stocks near 200 day support are DFS 22, ROC 46.25, ROSE 42. Stocks that found support at 200 day MAs today were ANF NFLX WYNN ADS V CRS ACN WCN WPRT. Stocks that can be shorted at 200 day resistance are GR 88, DRI 48.50, EBAY 31, LTD 34.45, PETM 41.55, YUM 51.65, PENN 37, RAX 37, BAX 54, MSI 40.90, AVGO 31. Stocks that met 40 week resistance today were COST M ROST WFM CAG RL GOOG ABV AET AGN CI CHK WNR CCK.
Stocks that can be shorted at 50 day resistance are LULU 54, AN 36, DSW 50.50, ORLY 61.85, SBUX 38, CHD 40.55. Stocks that met 50 day resistance today were SAH HSY MSFT V RRC.
Good luck.
The author is still in 100% cash.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CMG 306, DLTR 66, SAH 14.25, HLF 57.15, KO 67.20, EXPE 29.10, IACI 37.65, HFC 67.75. Stocks that retook their 50 day MAs, which are familiar leaders that withstood the recent weakness the best as they always do, were AMZN MCD TJX SODA CROX PCLN BIDU ALXN COG SM. GOOG JAZZ ABX all found 50 day support Tuesday.
Stocks that can be bought as they retake their 200 day MAs and their buy stop spots are PAG 19.20, DAR 15, MON 68.30, HOG 38.20, GOOG 577, SINA 93.25, FTNT 20.50, ABV 29.80, PLCM 24.55, GSM 20.40, MTZ 18.10, VIAB 45.20, CHK 29.30, CPX 30.30, HAL 45.30, KSU 52.80. Stocks that retook their 200 day MAs Tuesday were TGI BBBY DG FAST ORLY SCSS SFLY SAH SBUX TIF TSCO CHD CL EL TUP BGS DECK CHKP QLIK DFS FRX GSK UNH ROC CBS OKE NSC IRM. Stocks near 200 day support are DFS 22, ROC 46.25, ROSE 42. Stocks that found support at 200 day MAs today were ANF NFLX WYNN ADS V CRS ACN WCN WPRT. Stocks that can be shorted at 200 day resistance are GR 88, DRI 48.50, EBAY 31, LTD 34.45, PETM 41.55, YUM 51.65, PENN 37, RAX 37, BAX 54, MSI 40.90, AVGO 31. Stocks that met 40 week resistance today were COST M ROST WFM CAG RL GOOG ABV AET AGN CI CHK WNR CCK.
Stocks that can be shorted at 50 day resistance are LULU 54, AN 36, DSW 50.50, ORLY 61.85, SBUX 38, CHD 40.55. Stocks that met 50 day resistance today were SAH HSY MSFT V RRC.
Good luck.
The author is still in 100% cash.
Monday, August 8, 2011
Monday Thoughts
Markets were absolutely hammered today. A historic trading session the day after S&Ps downgrade of US debt Friday night. But as we have been saying this downturn has little to do with that, as it was telegraphed for some time now, but more upon a weak domestic and international economic outlook. The Nazz lost 6.9%, leaving it 18.4% off its recent high. Volume grew. Any weakness tomorrow morning would put the index in bear market territory. The S&P 500 lost 6.6% today leaving it 18.3% off its recent high. The Dow Jones Transportation Index and the DAX are already in bear market mode. BAC lost 20% today alone, the classic definition of a bear market. Obviously no companies are near valid base buy points, so the MAs take on a more important role. Very few are above their 50 day MAs. Leaders that found 50 day support today were AAPL GMCR. BIDU GOOG are quickly readying for their 50 day MA challenges. More leaders gave up their 50 day MAs today. HLF down 12%, SODA 10%, CROX 14%, COG 11%, JAZZ 9%, CMG 6%. More recent leaders that lost 200 day support today were TIF down 10%, COH 12%, DECK 12%, PVH 13%, ROC 10%, CBS 10%, HAL 10%. I could go on and on. Traditional fear contrarian indicators such as the Vix exploded today. The VXX took out 200 day resistance today on enormous volume. The put call ratio stands at 1.34, high, but nearly half of its recent crisis high of 2.58 on 10/06/08. Money managers are still very bullish according to recent advisor data. The calls for a snap back rally are growing, which may be a signal that more bearish action is to come. The technicals are broken on the indexes and their charts. A few remain near MAs and they can be played but be small, if you have to play at all. Earnings tomorrow come from DISH FOSL IFF before the open Tuesday and NUAN after the close.
Stocks 200 day support are AMZN 185, AN 31.95, DLTR 57.25, FOSL 89, TJX 49, CL 81.30, TPX 51.20, HSY 52.50, EXPE 25.95, CERN 53.10, V 76.80, ALXN 45.15, WPI 57.85, RRC 50.50, SM 64.50, ACN 52.60, IBM 60.25, WCN 29.30. Stocks that found 200 day support today were ANF DSW DV KO NFLX ADS ROSE. Stocks that can be shorted at 200 day resistance are BBBY 50.95, FAST 31.05, ROST 71, SCSS 12.60, TSCO 55, INFA 49.10, PLCM 24.40, ABV 29.55. Stocks that met 200 day resistance today were DG ORLY. Stocks that lost 200 day support today were plentiful. TGI BBBY COST FAST M LTD MW PAG ROST SCSS SFLY SAH SBUX TSCO WFM CHD TUP BGS CAG HNZ HRL DAR HOG PENN QLIK CRS DISH MTZ MSI MHP NBL OIS OKE PTEN WNR IRM WPRT.
Stocks near 50 day support are BIDU 125, GOOG 541. GMCR AAPL both found 50 day support today. Stocks that can be shorted at 50 day resistance are LULU 54. KO IBM SLW all met 50 day resistance today. GMCR can be shorted under 87 today, its 50 day MA. IACI MSFT PM all lost 50 day support today.
QCOR SOLR both demonstrated decent relative strength today. Keep an eye on those if and when some buying comes back into the market.
Good luck.
The author is 100% in cash.
Stocks 200 day support are AMZN 185, AN 31.95, DLTR 57.25, FOSL 89, TJX 49, CL 81.30, TPX 51.20, HSY 52.50, EXPE 25.95, CERN 53.10, V 76.80, ALXN 45.15, WPI 57.85, RRC 50.50, SM 64.50, ACN 52.60, IBM 60.25, WCN 29.30. Stocks that found 200 day support today were ANF DSW DV KO NFLX ADS ROSE. Stocks that can be shorted at 200 day resistance are BBBY 50.95, FAST 31.05, ROST 71, SCSS 12.60, TSCO 55, INFA 49.10, PLCM 24.40, ABV 29.55. Stocks that met 200 day resistance today were DG ORLY. Stocks that lost 200 day support today were plentiful. TGI BBBY COST FAST M LTD MW PAG ROST SCSS SFLY SAH SBUX TSCO WFM CHD TUP BGS CAG HNZ HRL DAR HOG PENN QLIK CRS DISH MTZ MSI MHP NBL OIS OKE PTEN WNR IRM WPRT.
Stocks near 50 day support are BIDU 125, GOOG 541. GMCR AAPL both found 50 day support today. Stocks that can be shorted at 50 day resistance are LULU 54. KO IBM SLW all met 50 day resistance today. GMCR can be shorted under 87 today, its 50 day MA. IACI MSFT PM all lost 50 day support today.
QCOR SOLR both demonstrated decent relative strength today. Keep an eye on those if and when some buying comes back into the market.
Good luck.
The author is 100% in cash.
Sunday, August 7, 2011
Weekend Warrior
Markets gyrated all over the place Friday ending a disappointing week to say the least. The Nazz had an intraday range of an astounding 128 points losing almost 1%. For the week it crumbled 8.1%. It is now down 4.5% on the year, and it is 12.3% off its 52 week high. The S&P 500 traded in a 50 point intraday range closing basically UNCH. IT lost 7.2% for the week. It is down now 4.6% on the year, and it is 12.5% off its 52 week high. Obviously both are now beyond the 10% correction threshold. The damage done this week was real and swift. We know the 3rd year of bull markets can be volatile in nature, but this was brutal. The global growth story came into question this week, with companies having heavy international exposure falling precipitously. BHI fell 17%, RIO 16%, CLF 15%, JOYG 15%, UNP 10%, UTX 10%, CE 20%, MOS 10%. Last week we discussed how the steel sector was signaling a possible double dip. This week you can add coal. BTU fell 19%, and WLT a stunning 40%. big time leaders which finally caved below 50 day support for the first time in a while were LULU FOSL. But again, amidst the tremendous volatility the astute, prepared trader could have taken advantage of some simple support levels to carve out some nice profits. Stocks that found support to the penny on their 200 day MAs Friday were BBBY COST FAST M KO RL HAL WTI NSC. Leaders that did the same with 50 day support were VFC HLF COG JAZZ. Stocks doing the same after earning reports were WTW, which gave itself instant liposuction, cutting off (no pun intended) more than 20% Friday before finding support exactly at its 200 day MA. RAX had a huge bearish outside day on earnings. It found resistance right to the penny at its 50 day MA, the plunged 11% losing its 200 day MA in the process. BRY got shellacked post earnings, only to find support at its 200 day MA. I am not a macro guy, strictly a technician, but the confidence corporations have been displaying by virtue of merger activity has come to a halt after recent activity with the likes of TBL BLUD BJ ARJ TIN CEPH. Interesting little tid bit. Of course we had S&P deliver its US debt downgrade Friday night. Who knows what will happen Monday morning. Just have your watch list ready to take advantage of any equity mispricings near 50/200 support or resistance lines. SLW reports before the bell Monday. FOSL reports before the bell Tuesday for anyone contemplating an overnight hold Monday.
Stocks that are near 50 day support are COG 64.75. Stocks that found support at their 50 day MA Friday were SAH DECK BIDU IACI RRC V MSFT ALXN. With the recent carnage not many stocks are still holding above their 50 day MAs. Those that are include HLF AAPL QCOR GMCR SODA.
Stocks near 200 day support are ROST 70.75, SCSS 12.65, SFLY 45, SBUX 34.55, TJX 49.50, TIF 65.65, TSCO 54.50, WFM 56.25, CL 81.20, EL 90, DAR 14.60, EXPE 25.95, CHKP 50, QLIK 27.05, DFS 22, GSK 40.40, CHK 29, SOLR 11, KEG 14.60, WCN 29.25. Stocks that found 200 day support Friday were MW PAG HNZ HOG TIBX AXP AET PLCM DISH MTZ MSI CBS CPX HLX OIS OKE PTEN MCO CHD HRL DAR AGN. Stocks that can be shorted at 200 day resistance are GR 88.25, EAT 23.10, ORLY 59, PETM 41.55, YUM 51.60, ICON 21.15, UA 64.10, ARBA 28.55, INFA 49.10, CAH 41.10, XRAY 36, STJ 46, GSM 20.20, MRO 28, WMB 28, ADP 50, BLL 36.05, AVGO 31, XLNX 31.95. Stocks that met 200 day resistance Friday were DG JWN GR NKE MON POT ATW CRZO NOV. Stocks that can be shorted as they lose their 200 day MAs and their sell stops are LTD 34.05, TIBX 24.10. Stocks that lost their 200 day MAs Friday CHS UA VMW FTNT INFA FRX NCR GSM CE BHI PXP SGY KSU ARMH. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are DG 31.25, DPS 38.25, SINA 94.
Stocks that can be shorted at 50 day resistance are AN 36, FOSL 117, SBUX 38, DV 60, IFF 58.80, TPX 65, EXPE 29, CERN 61.10, ADS 93, TDC 56.85, ROC 54, ACN 58.50, CCK 38.15. Stocks that met 50 day resistance Friday were ANF KO ADS WPRT. Stocks that lost their 50 day MAs Friday were LULU LVS EXPE BBG CHK.
Good luck.
The author is 100% in cash. Sometimes the best trade is no trade.
Stocks that are near 50 day support are COG 64.75. Stocks that found support at their 50 day MA Friday were SAH DECK BIDU IACI RRC V MSFT ALXN. With the recent carnage not many stocks are still holding above their 50 day MAs. Those that are include HLF AAPL QCOR GMCR SODA.
Stocks near 200 day support are ROST 70.75, SCSS 12.65, SFLY 45, SBUX 34.55, TJX 49.50, TIF 65.65, TSCO 54.50, WFM 56.25, CL 81.20, EL 90, DAR 14.60, EXPE 25.95, CHKP 50, QLIK 27.05, DFS 22, GSK 40.40, CHK 29, SOLR 11, KEG 14.60, WCN 29.25. Stocks that found 200 day support Friday were MW PAG HNZ HOG TIBX AXP AET PLCM DISH MTZ MSI CBS CPX HLX OIS OKE PTEN MCO CHD HRL DAR AGN. Stocks that can be shorted at 200 day resistance are GR 88.25, EAT 23.10, ORLY 59, PETM 41.55, YUM 51.60, ICON 21.15, UA 64.10, ARBA 28.55, INFA 49.10, CAH 41.10, XRAY 36, STJ 46, GSM 20.20, MRO 28, WMB 28, ADP 50, BLL 36.05, AVGO 31, XLNX 31.95. Stocks that met 200 day resistance Friday were DG JWN GR NKE MON POT ATW CRZO NOV. Stocks that can be shorted as they lose their 200 day MAs and their sell stops are LTD 34.05, TIBX 24.10. Stocks that lost their 200 day MAs Friday CHS UA VMW FTNT INFA FRX NCR GSM CE BHI PXP SGY KSU ARMH. Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are DG 31.25, DPS 38.25, SINA 94.
Stocks that can be shorted at 50 day resistance are AN 36, FOSL 117, SBUX 38, DV 60, IFF 58.80, TPX 65, EXPE 29, CERN 61.10, ADS 93, TDC 56.85, ROC 54, ACN 58.50, CCK 38.15. Stocks that met 50 day resistance Friday were ANF KO ADS WPRT. Stocks that lost their 50 day MAs Friday were LULU LVS EXPE BBG CHK.
Good luck.
The author is 100% in cash. Sometimes the best trade is no trade.
Thursday, August 4, 2011
Thursday Thoughts
Markets just careened lower today, in enormous volume. Was it capitulation? Doubtful. Did not feel much like panic, and we had no upside reversal. The Nazz lost more than 5%, its worst single day loss in over 2 1/2 years. The indexes are now in correction mode, literally. The Nazz is 11.5% off its 52 week high, the S&P 500 is now more than 12% off its 52 week high. Today's horrendous tape, left both indexes negative for the year now. The S&P 500 is down 4.6%, the Nazz 3.6%, since January 1st. Some former leaders that were damaged today included FOSL, which lost its 50 day MA for the first time since January. TPX plunged 9%, undercutting its 50 day MA today. ROC, a chemical leader lost its 50 day and 10% today. UNP tumbled 6%, losing its 200 day MA in the process. OPEN, underwent a 2/1 stock split apparently. Oops, its a mirage. Its just been cut in half since hitting its all time high 4/25. Cash and caution are the words of the day. Not much in the way of earnings of companies we follow tomorrow. Of course we have the big employment number tomorrow at 830am.
Stocks near 50 day support, and these are leaders because their simply are not many stocks still above their 50 day MAs, are MCD 84, DECK 89.50, VFC 107, HLF 56.15, ALXN 49.50, JAZZ 33, MSFT 25.65, BIDU 139, COG 64.50, CHK 30.95, RRC 57, SAH 14. Stocks that found 50 day support today were AMZN EXPE IBM CAM PDS.
Stocks near 200 day support are BBBY 50.60, CHS 13.20, FAST 31, LTD 34.25, M 25.50, PAG 19, TIF 65.25, KO 65.15, HRL 27, COH 56.50, MW 28.50, CL 81.20, EL 90, TUP 56.20, HOG 37.85, AET 37, AGN 75, FRX 34, UNH 43.90, ERTS 19.05, FTNT 20.10, TIBX 24.40, CE 44.25, AXP 46.30, DFS 22, NSC 67.10, CBS 23, NCR 17.55, PLCM 24.10, DAR 14.70, SQM 56.50, SIVB 54.30, WPRT 20.55, BHI 65, HAL 44.50, KEG 14.50, PTEN 26, WTI 21, CBI 35, SLOR 11, PENN 37. Stocks that found 200 day support today were RL UA CHD INFA VMW GOOG RAX SAPE HP NBL SWN. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are RL 119, INFA 48.50, CRM 134, MSI 40.35, DELL 14.80, SINA 89.20, RAX 36, MCO 32.15, GSM 19.75, PXP 34, SPN 35.50, AVGO 30.40. Stocks that lost 40 week support today were DRI EBAY FL JWN PETM HNZ ICON NKE PVH GR IFF LVS WYN BAX CAH XRAY ABV ARBA SAP ALB FMC PX R QCOM CNI JBHT VIAB BLL CCK MON POT WOR JOYG BWA APA ATW BEXP CRZO CVX CLR EXXI NOV RDSA SLB WMB ARMH CLF BEAV. Stocks that can be shorted at 40 week resistance are EAT 23.05, YUM 51.55, ABV 29.50, TWC 70, NUAN 19.15. Stocks that met 200 day resistance today were HS VPHM LYB CXO.
Stocks that can be shorted at 50 day resistance are AN 36, BBBY 56.05, LTD 38, CHKP 56, ADS 93. Stocks that met 50 day resistance today were DLTR BID NKE PAY POT WCN SWI. Stocks that can be shorted as they lose 50 day support and their sell stop spots are BRY 52, BRCM 33.75. Stocks that lost 50 day support today were EBAY SBUX KO WYNN PM CERN CHKP ADS ACN MOS APA ATW CPX HAL OIS ROSE MCP HSY.
Good luck.
The author is in 100% cash.
Stocks near 50 day support, and these are leaders because their simply are not many stocks still above their 50 day MAs, are MCD 84, DECK 89.50, VFC 107, HLF 56.15, ALXN 49.50, JAZZ 33, MSFT 25.65, BIDU 139, COG 64.50, CHK 30.95, RRC 57, SAH 14. Stocks that found 50 day support today were AMZN EXPE IBM CAM PDS.
Stocks near 200 day support are BBBY 50.60, CHS 13.20, FAST 31, LTD 34.25, M 25.50, PAG 19, TIF 65.25, KO 65.15, HRL 27, COH 56.50, MW 28.50, CL 81.20, EL 90, TUP 56.20, HOG 37.85, AET 37, AGN 75, FRX 34, UNH 43.90, ERTS 19.05, FTNT 20.10, TIBX 24.40, CE 44.25, AXP 46.30, DFS 22, NSC 67.10, CBS 23, NCR 17.55, PLCM 24.10, DAR 14.70, SQM 56.50, SIVB 54.30, WPRT 20.55, BHI 65, HAL 44.50, KEG 14.50, PTEN 26, WTI 21, CBI 35, SLOR 11, PENN 37. Stocks that found 200 day support today were RL UA CHD INFA VMW GOOG RAX SAPE HP NBL SWN. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are RL 119, INFA 48.50, CRM 134, MSI 40.35, DELL 14.80, SINA 89.20, RAX 36, MCO 32.15, GSM 19.75, PXP 34, SPN 35.50, AVGO 30.40. Stocks that lost 40 week support today were DRI EBAY FL JWN PETM HNZ ICON NKE PVH GR IFF LVS WYN BAX CAH XRAY ABV ARBA SAP ALB FMC PX R QCOM CNI JBHT VIAB BLL CCK MON POT WOR JOYG BWA APA ATW BEXP CRZO CVX CLR EXXI NOV RDSA SLB WMB ARMH CLF BEAV. Stocks that can be shorted at 40 week resistance are EAT 23.05, YUM 51.55, ABV 29.50, TWC 70, NUAN 19.15. Stocks that met 200 day resistance today were HS VPHM LYB CXO.
Stocks that can be shorted at 50 day resistance are AN 36, BBBY 56.05, LTD 38, CHKP 56, ADS 93. Stocks that met 50 day resistance today were DLTR BID NKE PAY POT WCN SWI. Stocks that can be shorted as they lose 50 day support and their sell stop spots are BRY 52, BRCM 33.75. Stocks that lost 50 day support today were EBAY SBUX KO WYNN PM CERN CHKP ADS ACN MOS APA ATW CPX HAL OIS ROSE MCP HSY.
Good luck.
The author is in 100% cash.
Weekend Stock Reflections
Markets performed some acrobatics Wednesday with some heavy swings, finishing in the black. The Nazz finished up almost 1%, rallying 72 points off its intraday low. It still finished below its 200 day MA. A bearish sign indeed. The S&P 500 closed up 0.5%, and up 26 handles from its lows of the session. It is still well below its 200 day as well. Was this a dead cat bounce, or the beginning of a dig from this steep correction in this current bull market dating back 3 plus years? I think the latter and until these indexes can muster the strength to recapture their respective 200 day MAs, I will not be impressed. As always leading stocks outperformed the indexes, with DECK HLF both up 4% on the day. Many other leaders found strong support at their 50 or 200 day MAs to the penny. Examples that found support right at 50 day support were SBUX KO ADS HAL MTZ KEG NOV. Stocks that found support right at 200 day support were EBAY FAST WYN XRAY FTNT UNP CNI POT RDSA SLB to name a few. KKR, a former leader which lost its 200 day last month, (while the market was still holding up), a bearish sign indeed showed why yesterday losing 6% on earnings. Earnings reactions after the close among stocks we follow were MTZ SWI both up about 10% after reporting. Expect earnings from APA BRY BBG CAH CHD CI PXP TDC WNR before the open, and MCHP PKI RAX SAPE SUN after the close.
Stocks with specific buy points, that also can be put on a watch list, are: Cup with high handles PM 72.84, WTI 29.37 (up 6% after reporting Wed after the bell), SAH 16.37. Double bottoms with handles are MSFT 28.25, MTZ 22.48 (also up nicely pre market on a solid earnings delivery). Cup with handles are SGY 34.56, APC 85.20.
Stocks near 50 day support are AMZN 202, MCD 84, EXPE 29. Stocks that found good support Wednesday were GR HOG WYNN CHKP ACN MOS BWA APC ATW ROSE CBI MCP HSY. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CHS 15.10, WPI 66.60, TIBX 27.55, DTV 50.25, KSU 57.90. DLTR JWN NKE WCN all retook their 50 day MAs Wednesday.
Stocks near 200 day support are LTD 34.10, PAG 19, R 50.10, SINA 91. Stocks that found 200 day support Wednesday were FL PETM ICON LVS WYN BAX CAH HS ABV ARBA INFA QLIK FMC QCOM JBHT VIAB BLL CCK IP WOR BEXP CAM CRZO EXXI AVGO BEAV. Stocks that can be shorted at 200 day resistance are ANN 26.15, CAKE 30.15, DKS 37.05, STJ 46, CTXS 72.10, SIAL 66.10, CMCSA 23.50, TWC 70.15, CSX 23.90, ACOM 34.05, ROP 80, DHR 49, TMO 57.25, ADP 50, AME 41.50, CAT 98, OXY 98, XOM 79, ALTR 40.50, XLNX 31.80. Stocks that met 200 day resistance Wednesday were TITN VPHM BG JOYG WBC COP NBR. Stocks that lost 200 day support Wednesday were CRL APA. YUM can be bought with a buy stop of 51.75, its 200 day MA. EAT EMN both retook their 200 day MAs Wednesday.
Stocks that can be shorted at 50 day resistance are ANF 71, BBBY 56.05, KMX 31, M 28.85, MW 33, BID 41, HRL 29.15, COH 63, AGN 82, CBS 27.50, KLAC 40.75. Stocks that met 50 day resistance Wednesday were AN RL CMI PETM SOLR. Stocks that lost their 50 day MAs on a decnt turnaround day Wednesday were EL NSC SQM BHI CVS HP FCX.
Good luck.
We sold our SDS for a sweet profit Wednesday.
The author is flat.
Stocks with specific buy points, that also can be put on a watch list, are: Cup with high handles PM 72.84, WTI 29.37 (up 6% after reporting Wed after the bell), SAH 16.37. Double bottoms with handles are MSFT 28.25, MTZ 22.48 (also up nicely pre market on a solid earnings delivery). Cup with handles are SGY 34.56, APC 85.20.
Stocks near 50 day support are AMZN 202, MCD 84, EXPE 29. Stocks that found good support Wednesday were GR HOG WYNN CHKP ACN MOS BWA APC ATW ROSE CBI MCP HSY. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CHS 15.10, WPI 66.60, TIBX 27.55, DTV 50.25, KSU 57.90. DLTR JWN NKE WCN all retook their 50 day MAs Wednesday.
Stocks near 200 day support are LTD 34.10, PAG 19, R 50.10, SINA 91. Stocks that found 200 day support Wednesday were FL PETM ICON LVS WYN BAX CAH HS ABV ARBA INFA QLIK FMC QCOM JBHT VIAB BLL CCK IP WOR BEXP CAM CRZO EXXI AVGO BEAV. Stocks that can be shorted at 200 day resistance are ANN 26.15, CAKE 30.15, DKS 37.05, STJ 46, CTXS 72.10, SIAL 66.10, CMCSA 23.50, TWC 70.15, CSX 23.90, ACOM 34.05, ROP 80, DHR 49, TMO 57.25, ADP 50, AME 41.50, CAT 98, OXY 98, XOM 79, ALTR 40.50, XLNX 31.80. Stocks that met 200 day resistance Wednesday were TITN VPHM BG JOYG WBC COP NBR. Stocks that lost 200 day support Wednesday were CRL APA. YUM can be bought with a buy stop of 51.75, its 200 day MA. EAT EMN both retook their 200 day MAs Wednesday.
Stocks that can be shorted at 50 day resistance are ANF 71, BBBY 56.05, KMX 31, M 28.85, MW 33, BID 41, HRL 29.15, COH 63, AGN 82, CBS 27.50, KLAC 40.75. Stocks that met 50 day resistance Wednesday were AN RL CMI PETM SOLR. Stocks that lost their 50 day MAs on a decnt turnaround day Wednesday were EL NSC SQM BHI CVS HP FCX.
Good luck.
We sold our SDS for a sweet profit Wednesday.
The author is flat.
Tuesday, August 2, 2011
Tuesday Recap
Markets were bludgeoned Tuesday. No other way to put it. Volume expanded on both the Nazz and S&P 500 as both violated their 200 day MAs on big volume. Leading stocks have also made their presence felt. They are becoming a smaller bunch with each passing day. Today, the two leaders in the transport sector NSC KSU both gave up their 50 day MAs. Retail took a beating with COH plummeting on an earnings report. COH lost its 50 day MA in the process, and it took other leaders in the group with it. ANF BBBY M RL TIF UA also lost their 50 day MAs in sympathy. Chemical leader CE was brought down by weak earnings reports from WLK PPO which were both down 10% each today. Steel stocks are getting destroyed signaling a double dip? Who knows but MTL down 7%, MT 6%, X 4%. SDS which retook its 50 day MA last Friday on big volume is continuing higher. Today it stopped right at 200 day resistance. A move above that line tomorrow would be ominous indeed. Earnings reports tomorrow come from DVN KKR MOLX POL before the bell, and ATW CAR CXO CLR SOLR MTZ PXDSWI BID TRW WTI after the close.
Stocks that can be put on a watch list are: Cup with handles APC 85.20, RDSA 75.66, NTES 53.25. MSFT 28.25 in a double bottom with handle base. Might seem crazy to have stocks with these buy points, as I actually believe there is a lot more pain to come, but things can turn around very quickly.
Stocks near 50 day support are MCD 84, SBUX 38, GR 91.75, EXPE 29, HOG 39.95, AET 37, PM 68.50, ROC 54, ADS 93, VCLK 17.20, MOS 67.75, POT 56.10, BWA 74.25, ATW 43.50, CLR 64.50, HAL 50.75, KEG 18, NOV 75, SLB 84.10, WMB 30, CBI 37.95. Stocks that found 50 day support today were AN JWN KO PVH WYNN MTZ NCR MON GSM PXP FCX PENN.
Stocks near 200 day support are COST 74.10, EBAY 31, FL 20.10, PAG 19, HRL 27, HNZ 50.35, NKE 84.20, IFF 58.30, LVS 44.25, AGN 75, BAX 54, CAH 41, XRAY 36, HS 36, QLIK 27, ALB 60, FMC 80.50, PX 98.40, R 50.20, JBHT 42.80, VIAB 44.60, PLCM 24, IP 28.15, SAPE 12.95, WOR 19.30, CRZO 34, SWN 40, ARMH 25.35, GILD 39.55. Stocks that found support at their 200 day MA today were DRI ICON FTNT JOYG SLW. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are FAST 30.75, PETM 41.10, CRL 37.20, EMN 92, LYB 36, QCOM 52.60, CNI 71.60, UNP 96, BLL 35.75, CCK 36, JOYG 88, APA 118.50, MRO 27.75, NBR 25, AVGO 30.25, CLF 84.75, BEAV 36.80. Stocks that lost 200 day support today were EAT TITN YUM CELG NUAN SIAL WDR CMCSA TWC CSX EMC ACOM UTX TMO WAT ADP BG BX ABB AME CAT BC COP GPC RIO FCX XLNX PXD XOM ALTR. Stocks that can be shorted at 200 day resistance are ZMH 59.10, SWI 21.75. Stocks that met 200 day resistance today were ANN DKS BDX VPHM DOW DD CMI UPL. Put in a buy stop on ABX @49.25, as and if it can reclaim its 200 day MA.
Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are EL 101, WYNN 145, CHKP 55.75, DFS 24.40, NCR 18.75, SQM 62.75, SIVB 58.60, BHI 73, CVX 102.50, CXO 90.20, PENN 39.60. Stocks that lost their 50 day MAs today were ANF BBBY KMX CHS DLTR M PAG BID TIF TSCO COH RL UA WYN WPI SAP VMW CE POL DTV SINA ACN AGU GS CMI EXXI PTEN TCK ARMH RIO SCCO WCN SWKS HSY. Stocks that can be shorted at 50 day resistance are DLTR 65.50, M 28.80, MW 33.05, CHD 40.95, JPM 41, RS 48.40. Stocks that met 50 day resistance today were LTD SCSS NFLX CRM TIBX CBS DELL WLL SOLR.
Good luck.
We went into cash today as the 200 day MA on the S&P 500 was breached. Made a small gain in FCX WNR, small loss in WOR DE. Have to respect the action.
The author owns SDS.
Stocks that can be put on a watch list are: Cup with handles APC 85.20, RDSA 75.66, NTES 53.25. MSFT 28.25 in a double bottom with handle base. Might seem crazy to have stocks with these buy points, as I actually believe there is a lot more pain to come, but things can turn around very quickly.
Stocks near 50 day support are MCD 84, SBUX 38, GR 91.75, EXPE 29, HOG 39.95, AET 37, PM 68.50, ROC 54, ADS 93, VCLK 17.20, MOS 67.75, POT 56.10, BWA 74.25, ATW 43.50, CLR 64.50, HAL 50.75, KEG 18, NOV 75, SLB 84.10, WMB 30, CBI 37.95. Stocks that found 50 day support today were AN JWN KO PVH WYNN MTZ NCR MON GSM PXP FCX PENN.
Stocks near 200 day support are COST 74.10, EBAY 31, FL 20.10, PAG 19, HRL 27, HNZ 50.35, NKE 84.20, IFF 58.30, LVS 44.25, AGN 75, BAX 54, CAH 41, XRAY 36, HS 36, QLIK 27, ALB 60, FMC 80.50, PX 98.40, R 50.20, JBHT 42.80, VIAB 44.60, PLCM 24, IP 28.15, SAPE 12.95, WOR 19.30, CRZO 34, SWN 40, ARMH 25.35, GILD 39.55. Stocks that found support at their 200 day MA today were DRI ICON FTNT JOYG SLW. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are FAST 30.75, PETM 41.10, CRL 37.20, EMN 92, LYB 36, QCOM 52.60, CNI 71.60, UNP 96, BLL 35.75, CCK 36, JOYG 88, APA 118.50, MRO 27.75, NBR 25, AVGO 30.25, CLF 84.75, BEAV 36.80. Stocks that lost 200 day support today were EAT TITN YUM CELG NUAN SIAL WDR CMCSA TWC CSX EMC ACOM UTX TMO WAT ADP BG BX ABB AME CAT BC COP GPC RIO FCX XLNX PXD XOM ALTR. Stocks that can be shorted at 200 day resistance are ZMH 59.10, SWI 21.75. Stocks that met 200 day resistance today were ANN DKS BDX VPHM DOW DD CMI UPL. Put in a buy stop on ABX @49.25, as and if it can reclaim its 200 day MA.
Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are EL 101, WYNN 145, CHKP 55.75, DFS 24.40, NCR 18.75, SQM 62.75, SIVB 58.60, BHI 73, CVX 102.50, CXO 90.20, PENN 39.60. Stocks that lost their 50 day MAs today were ANF BBBY KMX CHS DLTR M PAG BID TIF TSCO COH RL UA WYN WPI SAP VMW CE POL DTV SINA ACN AGU GS CMI EXXI PTEN TCK ARMH RIO SCCO WCN SWKS HSY. Stocks that can be shorted at 50 day resistance are DLTR 65.50, M 28.80, MW 33.05, CHD 40.95, JPM 41, RS 48.40. Stocks that met 50 day resistance today were LTD SCSS NFLX CRM TIBX CBS DELL WLL SOLR.
Good luck.
We went into cash today as the 200 day MA on the S&P 500 was breached. Made a small gain in FCX WNR, small loss in WOR DE. Have to respect the action.
The author owns SDS.
Monday, August 1, 2011
Monday Thoughts
Markets had a roller coaster ride Monday to begin the new week. The markets seemed to turn tail just before some disappointing manufacturing data early in the day. We have been alluding to the fact that the debt ceiling is getting way to much play. GDP last week revised downward, durable goods weak. There is much more behind the scenes than the debt ceiling weighing on this market. The S&P 500 lost its 200 day MA intraday only to reclaim it by the close. The Nazz had an intraday range of 80 points, losing its 50 day MA, but finding support at the 200 day. An economic bellwether FDX bounced off 85 today, for the fourth time since last November. The huge loss of gains is an obvious negative. Healthcare stocks were torpedoed on the back of HUM earnings. Stocks suffering negative outside reversal days today were FAST (which also lost its 50 day), BDX (which also lost its 200 day), BHI BHP. New highs versus new lows were dismal as well. Almost 3 to 1 in favor of new 52 week lows as opposed to 52 week highs. More than 2 to 1 on the Nazz. Negativity seems pervasive here and perhaps taking a contrarian view can be profitable. But as a technician we are ruled by the price and volume action of the indexes and leading stocks. And that is not pretty. Some bright points were JAZZ, which bucked the negative medical sector today, adding to recent gains from its 36.57 cup with high handle buy point. DECK hit an all time high today taking out par and finishing near its highs for the day. Tomorrow expect earnings reports before the bell from BDX COH HS MRO PH WLK, and after the close from CBS OPEN VCLK.
Stocks to be put on a watch list until markets stabilize are: Cup with high handles MON 77.19, POT 62.14, SLB 95.63, WTI 29.37, ANF 78.35, NCR 21.07, ATW 48.94, CVX 109.85, PXP 42.06, SM 80.91. Double bottoms with handles are MTZ 22.48, CLR 71.87, EBAY 35.09, NKE 94.33, WPRT 28.15. CHK 36.05 in a cup base.
Stocks near 50 day support are AN 36, M 28.75, JWN 47, SBUX 38, KO 67, GR 91.90, WYN 33.35, PM 68.50, CHKP 56, DFS 24.90, NSC 73.25, NBR 25.75, PENN 40. Stocks that found 50 day support today are CHS DLTR M PAG TSCO KO SAP LYB PPO DTV SINA GS JOYG EXXI SWN TCK ARMH BEAV SCCO GILD SWKS HSY. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are MW 33.40, IFF 63.10, NFLX 270, BG 70.20, CAT 103.50. WLK WDR reclaimed their 50 day MAs today.
Stocks near 200 day support are EAT 23.05, DRI 48.35, TITN 25, YUM 51.55, CAH 41, CRL 37.5, XRAY 36, HS 36, NFA 48.50, NUAN 19.10, QLIK 27, APD 90, QCOM 53, CSX 23.80, EMC 25.15, PLCM 24, BLL 36, IP 28.10, BX 16.10, CAT 98.50, PXD 90, CLF 85. Stocks that found support at their 200 day MAs today were CELG VPHM FTNT SIAL WDR ACOM ROP UTX TMO ABB XOM ALTR XLNX FCX RIO. Stocks that can be shorted at 200 day resistance are ABX 49.05, WY 21, SMTC 24.40, KLAC 42, DOV 62, JBL 19.05, BID 44.10, CAKE 30.20. Stocks that met 200 day resistance today were ANN DKS CAR CTXS DOW KKR TYC DHR DOV SUN OVTI. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are ABV 29.20, CMCSA 23.10, ACOM 33.75, WAT 84.75, ADP 49.75, XOM 78.35, GPC 51.75. STJ WLP ZMH SWI KMT OXY BHP all lost 200 day support today. Place a buy stop on MOS @73.60, its 200 day MA.
Stocks that can be shorted at 50 day resistance are COST 80, LTD 38, HRL 29.25, ICON 23.70, CHD 41, TUP 66, FRX 38, ARBA 31.55, TIBX 27.50, ALB 68, PPG 86, SOA 22.50, EFX 35, TROW 59, MSI 45.50, BHT 46, VIAB 49.80, TDC 56.80, ETN 49.65, RIG 64, AVGO 35.10, GG 49.60. Stocks that met 50 day resistance today were SCSS HRL ICON AGN CELG CI CRL XRAY HUM LTD PX AXP CMCSA AGCO JPM MS WOR ATU AME COP DVN MRO BTU SU. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are BBBY 55.75, KMX 30.55, PAG 21.10, UA 71.75, WPI 66, R 54.70, ACN 58, PTEN 30.75, WCN 31.60. Stocks that lost their 50 day MAs today were DRI FAST ARBA UNP BLL.
Good luck.
The author owns FCX DE WNR WOR SDS.
Stocks to be put on a watch list until markets stabilize are: Cup with high handles MON 77.19, POT 62.14, SLB 95.63, WTI 29.37, ANF 78.35, NCR 21.07, ATW 48.94, CVX 109.85, PXP 42.06, SM 80.91. Double bottoms with handles are MTZ 22.48, CLR 71.87, EBAY 35.09, NKE 94.33, WPRT 28.15. CHK 36.05 in a cup base.
Stocks near 50 day support are AN 36, M 28.75, JWN 47, SBUX 38, KO 67, GR 91.90, WYN 33.35, PM 68.50, CHKP 56, DFS 24.90, NSC 73.25, NBR 25.75, PENN 40. Stocks that found 50 day support today are CHS DLTR M PAG TSCO KO SAP LYB PPO DTV SINA GS JOYG EXXI SWN TCK ARMH BEAV SCCO GILD SWKS HSY. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are MW 33.40, IFF 63.10, NFLX 270, BG 70.20, CAT 103.50. WLK WDR reclaimed their 50 day MAs today.
Stocks near 200 day support are EAT 23.05, DRI 48.35, TITN 25, YUM 51.55, CAH 41, CRL 37.5, XRAY 36, HS 36, NFA 48.50, NUAN 19.10, QLIK 27, APD 90, QCOM 53, CSX 23.80, EMC 25.15, PLCM 24, BLL 36, IP 28.10, BX 16.10, CAT 98.50, PXD 90, CLF 85. Stocks that found support at their 200 day MAs today were CELG VPHM FTNT SIAL WDR ACOM ROP UTX TMO ABB XOM ALTR XLNX FCX RIO. Stocks that can be shorted at 200 day resistance are ABX 49.05, WY 21, SMTC 24.40, KLAC 42, DOV 62, JBL 19.05, BID 44.10, CAKE 30.20. Stocks that met 200 day resistance today were ANN DKS CAR CTXS DOW KKR TYC DHR DOV SUN OVTI. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are ABV 29.20, CMCSA 23.10, ACOM 33.75, WAT 84.75, ADP 49.75, XOM 78.35, GPC 51.75. STJ WLP ZMH SWI KMT OXY BHP all lost 200 day support today. Place a buy stop on MOS @73.60, its 200 day MA.
Stocks that can be shorted at 50 day resistance are COST 80, LTD 38, HRL 29.25, ICON 23.70, CHD 41, TUP 66, FRX 38, ARBA 31.55, TIBX 27.50, ALB 68, PPG 86, SOA 22.50, EFX 35, TROW 59, MSI 45.50, BHT 46, VIAB 49.80, TDC 56.80, ETN 49.65, RIG 64, AVGO 35.10, GG 49.60. Stocks that met 50 day resistance today were SCSS HRL ICON AGN CELG CI CRL XRAY HUM LTD PX AXP CMCSA AGCO JPM MS WOR ATU AME COP DVN MRO BTU SU. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are BBBY 55.75, KMX 30.55, PAG 21.10, UA 71.75, WPI 66, R 54.70, ACN 58, PTEN 30.75, WCN 31.60. Stocks that lost their 50 day MAs today were DRI FAST ARBA UNP BLL.
Good luck.
The author owns FCX DE WNR WOR SDS.
Subscribe to:
Posts (Atom)