Markets continued their weekly slide Friday. The Nasdaq fell 1.5% Friday and the S&P 500 1.4%. Volume increased. For the week the Nasdaq lost 3.3% and the S&P 500 2.2%. The Nasdaq now sits 8% off its recent highs, while the S&P 500 sits almost 7% below its early May highs. The indexes are now testing 200 day support. The Nasdaq did on Friday and it held for now. The S&P 500 looks poised to test its 40 week moving average at 1260. If some of the more important individual components of these indexes are a harbinger, it does not look pretty. Friday, HES KLAC TXN OPEN RIO ARUN all pierced their 200 day MAs to the downside. To be balanced AAPL RVBD ORCL did all hold, but support looks tenuous. More disconcerting has been the action of the markets leading stocks. This week PCLN WYNN took a turn for the worse. APKT BIDU have both stumbled recently as well. Pick your poison for the reasons why we sold off Friday, global slowdown fears, concern over Greek debt, dollar strength. Who cares. We remain in correction and as traders, opportunities will arise, but defense remains the name of the game. The strong greenback on Friday did create havoc for some commodities, as gold, oil and silver fell between 1-3%. Obviously energy backed off, but machinery and transport sectors also took a bruising. Referring to the transports we made the point earlier this week about FDX UPS piercing their 200 day MAs last Friday. The assault continued for those with FDX losing 5% and UPS almost 4% this week. Regarding employment, a Mark Twain quote comes to mind. "There are lies, damn lies, and government statistics." We all know the real unemployment rate in this country is most likely in the high teens, not 9.1%. All you have to do is look at the stocks of PAYX, which lost its 200 day this week. Or ADP which chart looks like it has taken a turn for the worse this week, losing its 50 day. Or even an MWW, whose chart resembles a nightmare. All this being said negativity is reaching a boiling point, and could these indexes bounce off their 200 day lines and continue their advance. Of course they can. Thats why its prudent to keep your opinions in check, and an eye on buying opportunities all the time. Respect the markets moves. We get paid on that criteria, not our personal assumptions. Earnings announcements and economic data for Monday is very quiet.
Stocks near 50 day support are COH 58.10, AET 41.10, CI 47, HUM 45.95, UNH 48, WPI 61.40, WLP 75.40, M 26.45, TIF 68.25, CBS 25.95, ABV 31.05, ERTS 21.95, TMO 60.25, COG 54.50, KEG 16.05, SWN 41.95, BLL 37.85, DISH 27.05, MON 67.40, SQM 58.75. Stocks which received 50 day support amidst the wreckage Friday were WCN BMC CTXS FTNT INFA CRM NSC BHI OXY PTEN SUG CL AVGO CY VECO WSH.
Stocks near 200 day support are DECK 75.50, HBI 26.50, UA 58.75, VFC 89.10, PPG 83.50, PX 96, CAR 15, WYN 30.50, SYK 56.10, VPHM 17.25, WFM 52, YUM 50.20, KO 63.90, CAT 94.50, CBE 58.40, DOV 60, BGC 36.25, ITW 52.20, JOYG 85, SAP 55.85, TIBX 22.85, CHRW 74.80, KSU 49.25, ARW 36.10, MOLX 24, PKI 25.45, TEL 34, COF 46, ATI 58.75, APC 71.75, ATW 38.50, CHK 27.55, COP 68.50, CLR 58.50, DVN 79, XOM 76, HLX 14, NBR 24.20, NBL 86, RDSA 67.70, SLB 80.20, UPL 45.95, HON 53.50, IP 27.05, MMM 89.30, UTX 80, VCLK 15.05, EMC 24.40, CMCSA 22.50, ADI 37, MXIM 24, MCHP 35.50, NXPI 22.10, SMTC 23.50, BHP 89, POT 52.75, BEAV 35.90. Stocks that found 200 day support Friday were SOA EBAY CXO NFX NE SU SUN JDSU AA TRW DNR. Stocks that lost their 200 day MAs were PVH JWN DIS IR WM TKR BP FTI WLL. MDRX OMC both met 200 day resistance Friday. Stocks that can be shorted at 200 day resistance are HOT 58, WCRX 23, ADSK 39, APH 53, AVT 32.60, AMP 57.50, IVZ 23.95, GTI 19.55, DO 70.60, SWC 20.20. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are DOW 34.05, FMC 77.75, ANN 25.05, DKS 35.20, EBAY 29.60, WSM 35.70, PH 84, ROK 76, VRSN 33.40, JBL 18.05, PAY 41.40, TS 45.05, APA 114.75, PXD 86, RDC 35.75, CTSH 71.75, RVBD 33.15, BWA 66.30.
Stocks that can be shorted at 50 day resistance are CE 48.25, PPO 62, AGP 67, ZMH 65, PAG 20.55, SBUX 36.15, VIAB 49.15, MKC 48.85, AXP 48.70, EL 98, IFF 63, DTV 48.15, QCOM 56, ALTR 46, VALE 32. Stocks which met 50 day resistance Friday were NKE APD EMN COV LULU AMZN AN BBBY COST VIAB A MTL EOG RRC TPX CCK MWV ACN XLNX. Stocks that can be shorted as they pierce their 50 day MAs to the downside and their sell stop spots are ABC 40.60, HS 40.75, BMC 51.70, INFA 53.55, ROVI 52.50, NSC 70, TUP 61.75. Stocks that lost their 50 day MAs Friday were AGN AGP HLS YUM PM CHKP QLIK CNI UNP HK TDC MSI QCOM TWC.
Good luck.
The author remains 100% in cash.
Saturday, June 11, 2011
Thursday, June 9, 2011
Thursday Recap
Markets rallied back Thursday as it believed stocks were oversold. Indexes gave back some out their low volume gains by the close. Not the type of action you would like to see after a 6 consecutive day loss. The ag and machinery group powered ahead today on a bullish crop report and a earnings beat by TITN. Semis were among the groups lagging today. Economic reports were mixed with better trade deficit data, while jobless claims disappointed. Interestingly AAPL again did not attend the party today, finishing in the red which it has done 5 of the last 7 sessions. MCO hit a new 3 year high Thursday in robust trade. LULU which declared a 2/1 stock split later this month will report earnings before the bell Friday.
Although I believe the market remains weak, things can change quick, and we must pay attention to leaders with valid buy points with the possibility of a breakout. Some of these stocks are TUP 66.92 in a square box base. Double bottom with handle bases are MON 71.37, EXPE 28.40. Cup with handles bases are AET 46.11, BAX 60.60. Cup base is BHI 79.34 and ABV 33.34 in a cup with high handle formation.
Stocks near 50 day support include COH 58, HS 41.25, CBS 26, WCN 30.50, BMC 52, ERTS 21.90, FTNT 22.25, INFA 54, N 33, QLIK 30, CRM 138.50, ATLS 24, BHI 72, KEG 16.05, PTEN 29.55, SWN 42, BLL 37.75, AVGO 33.15, WSH 40.80. Stocks that found 50 day support today were ALB AGN HLS WLP YUM PM ABB BMC CHKP CTXS CNI NSC UNP CRZO CPX DRC OXY HK SUG TWC VECO. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CE 48.40, AMZN 192.50, NUAN 20.70, KSU 55.60, A 49.40, EOG 112, NOV 73.90, RDSA 72.40, SLB 86.85, SUN 41.80, CCK 39.30, WAT 94.90. Stocks that retook their 50 day MAs today were ACN BEAV APD AGP ABC HAL.
Stocks near 200 day support are DECK 75.50, VFC 89, DOW 34.30, HUN 16, PPG 83.50, CAR 14.95, SYK 65.10, DNR 20, DKS 35.50, EBAY 30, WFM 52, CBE 58.40, DOV 60, PH 84.15, ROK 76.50, ORCL 31, CHRW 74.75, MOLX 24, KKR 14.85, TS 45.25, TKR 47, APC 71, CLR 58.35, DVN 79, NE 38.50, NBL 86, RDC 36, SU 39, UPL 45.90, MMM 89.30, CTSH 72, VCLK 15.10, RVBD 33.75, ADI 37, FCS 15.50, MXIM 24, MCHP 35.50, AA 15.15, BHP 89, CLF 81.50, MCP 46, DNR 20. Stocks that found 200 day support today were HBI FMC JWN DIS BGC WM PAY ATI CXO FTI HES PXD SUN WLL DD OPEN JDSU KLAC TXN RIO BWA TRW DNR. ETFs XLB XHB also found 200 day support. MDRX AMP GTI SWC ALV all met 200 day resistance today. Stocks that can be shorted at 200 day resistance are HOT 58, JCP 33, ADSK 39, RHT 43.35, APH 53, AVT 32.50, TTMI 14.75, IVZ 23.90, DO 70.60, MDR 20, TCK 52, ETN 49.25, PAYX 30.55, SLW 35. Stocks that an be shorted as they lose they 200 day MAs and their sell stop spots are SOA 21.75, ANN 25, IR 44.25, VRSN 33.25, NFX 67.25, WLL 59, ARUN 25.60 Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are JOYG 94, MTL 28, AGU 86. Stocks that retook their 200 day MAs today were PVH BP OMC.
Stocks that can be shorted at 50 day resistance are UA 69.25, PX 104, WYN 33.05, ZMH 65, BBBY 54.45, LTD 39, SBUX 36.25, SCSS 15.10, VIAB 49.25, ITW 56.05, ADS 89.50, MRO 52, SGY 31, WMB 31, EL 97.75, IFF 63, DHR 53.50, UTX 86.25, ADP 53.35, EMC 27.45, DTV 48.25, PCS 17.25, ALTR 46, VALE 32. Stocks that met 50 day resistance today were RVBD XLNX SLB EL TPX CCK IRM VCLK TEL ADS AXP MTL NOV RRC NKE EMN AN COST PAG VIAB. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are QCOM 55.40, MSI 45.20, TDC 53, UNP 99.50, CROX 20.50. PPO UPL both lost their 50 day MAs today.
Good luck.
Was able to find an internet connection out here so I bring you my dedicated work! The author is flat. 100% cash.
Although I believe the market remains weak, things can change quick, and we must pay attention to leaders with valid buy points with the possibility of a breakout. Some of these stocks are TUP 66.92 in a square box base. Double bottom with handle bases are MON 71.37, EXPE 28.40. Cup with handles bases are AET 46.11, BAX 60.60. Cup base is BHI 79.34 and ABV 33.34 in a cup with high handle formation.
Stocks near 50 day support include COH 58, HS 41.25, CBS 26, WCN 30.50, BMC 52, ERTS 21.90, FTNT 22.25, INFA 54, N 33, QLIK 30, CRM 138.50, ATLS 24, BHI 72, KEG 16.05, PTEN 29.55, SWN 42, BLL 37.75, AVGO 33.15, WSH 40.80. Stocks that found 50 day support today were ALB AGN HLS WLP YUM PM ABB BMC CHKP CTXS CNI NSC UNP CRZO CPX DRC OXY HK SUG TWC VECO. Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CE 48.40, AMZN 192.50, NUAN 20.70, KSU 55.60, A 49.40, EOG 112, NOV 73.90, RDSA 72.40, SLB 86.85, SUN 41.80, CCK 39.30, WAT 94.90. Stocks that retook their 50 day MAs today were ACN BEAV APD AGP ABC HAL.
Stocks near 200 day support are DECK 75.50, VFC 89, DOW 34.30, HUN 16, PPG 83.50, CAR 14.95, SYK 65.10, DNR 20, DKS 35.50, EBAY 30, WFM 52, CBE 58.40, DOV 60, PH 84.15, ROK 76.50, ORCL 31, CHRW 74.75, MOLX 24, KKR 14.85, TS 45.25, TKR 47, APC 71, CLR 58.35, DVN 79, NE 38.50, NBL 86, RDC 36, SU 39, UPL 45.90, MMM 89.30, CTSH 72, VCLK 15.10, RVBD 33.75, ADI 37, FCS 15.50, MXIM 24, MCHP 35.50, AA 15.15, BHP 89, CLF 81.50, MCP 46, DNR 20. Stocks that found 200 day support today were HBI FMC JWN DIS BGC WM PAY ATI CXO FTI HES PXD SUN WLL DD OPEN JDSU KLAC TXN RIO BWA TRW DNR. ETFs XLB XHB also found 200 day support. MDRX AMP GTI SWC ALV all met 200 day resistance today. Stocks that can be shorted at 200 day resistance are HOT 58, JCP 33, ADSK 39, RHT 43.35, APH 53, AVT 32.50, TTMI 14.75, IVZ 23.90, DO 70.60, MDR 20, TCK 52, ETN 49.25, PAYX 30.55, SLW 35. Stocks that an be shorted as they lose they 200 day MAs and their sell stop spots are SOA 21.75, ANN 25, IR 44.25, VRSN 33.25, NFX 67.25, WLL 59, ARUN 25.60 Stocks that can be bought as they reclaim their 200 day MAs and their buy stop spots are JOYG 94, MTL 28, AGU 86. Stocks that retook their 200 day MAs today were PVH BP OMC.
Stocks that can be shorted at 50 day resistance are UA 69.25, PX 104, WYN 33.05, ZMH 65, BBBY 54.45, LTD 39, SBUX 36.25, SCSS 15.10, VIAB 49.25, ITW 56.05, ADS 89.50, MRO 52, SGY 31, WMB 31, EL 97.75, IFF 63, DHR 53.50, UTX 86.25, ADP 53.35, EMC 27.45, DTV 48.25, PCS 17.25, ALTR 46, VALE 32. Stocks that met 50 day resistance today were RVBD XLNX SLB EL TPX CCK IRM VCLK TEL ADS AXP MTL NOV RRC NKE EMN AN COST PAG VIAB. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are QCOM 55.40, MSI 45.20, TDC 53, UNP 99.50, CROX 20.50. PPO UPL both lost their 50 day MAs today.
Good luck.
Was able to find an internet connection out here so I bring you my dedicated work! The author is flat. 100% cash.
Tuesday, June 7, 2011
Tuesday Recap
Markets attempted to recoup some recent weakness Tuesday, but that rally faded by the end of the day. The action was the hallmark of a bearish move with indexes opening upon their highs and closing hard on their lows. Both the Nasdaq and S&P 500 closed fractionally lower, but gave up intraday gains of almost 1%. Further evidence of the weakening economy was witnessed by the follow though losses on FDX and UPS. Both of which pierced their 200 day MAs yesterday, a very negative sign (and more of this topic discussed below), and continued their slide today closing down nearly 1%. Big caps have joined the chorus of poorly performing stocks with AAPL ORCL WYNN BIDU IBM feeling the pain. We can certainly see a snap back dead cat bounce, but this market seems destined to move lower. So do not short blindly, here. Pick your spots and utilize your discipline as always. PLL reports earnings Wednesday after the close and the Fed reports its Beige Book at 2pm.
Stocks near 50 day support include COH 58, AET 41, AGN 79, BAX 57, HUM 75, WLP 75, CBS 25.90, ABV 31, AB 25.60, BMC 52, ERTS 21.75, INFA 54, QLIK 29.90, VMW 91.25, TMO 60, BHI 72, EQT 50.05, KEG 16, MSI 45.40, VECO 51, SQM 58.25. Stocks that found 50 day support today were HS WCN CTXS ROVI CNI NSC ATLS PTEN SUG ACN VCLK TDC ALTR AVGO SMTC.
Stocks near 200 day support are HBI 26.75, PVH 62.75, VFC 89, DOW 34.10, HUN 16, PX 96, SOA 22, CAR 14.80, VPHM 17.15, ANN 25.05, EXPR 17.45, FAST 29.50, WFM 52, CBE 58.20, DOV 60, IR 44.20, JOYG 85, PLL 50 (earnings Wed after close), PH 84, ROK 76, WM 36.75, ORCL 31, MOLX 24, R 48, ATI 58.30, TKR 46.75, APC 71, CHK 27.50, COP 68.20, DVN 78.50, XOM 76, HLX 13.95, NBR 24, NBL 86, RDSA 67.20, SLB 80, WLL 59.25, MMM 89.10, UTX 80, AAPL 324, JDSU 16.90, MCHP 35.30, TXN 32.30, AA 15.10, CLF 81, RIO 67.65, POT 52.75, ARUN 25.95, BEAV 35.75. Stocks that found 200 day support today were AVT TTMI BP CXO DD KLAC. Stocks that found 200 day resistance today were WCRX MDRX PAYX GTI MDR SWC CMI ALV AGU. EBAY SUN both retook their 200 day MAs, while BGC AMP lost their 200 days today. Stocks that can be shorted at 200 day resistance are NKE 82.50, JCP 33, RHT 43.10, EXPD 51, APH 52.85, IVZ 23.85, TROW 61, MTL 27.80, DO 70.50, ETN 49.25, OMC 45.60, SPRD 18, SLW 35. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are FMC 77.75, HOT 56.90, DKS 35.10, WSM 38.70, DIS 38.75, APA 114.50, CLR 57.80, FTI 41.40, HES 73.50, NFX 67, PXD 86, CTSH 71.65, VRSN 33.05, BWA 66, TRW 51. Just to demonstrate how important the 200 day support line is (its often referred to as the last line in the sand) lets look at some stocks that recently lost their 200 day MAs and which became weaker and weaker. They include WRC LVS RCL BID NUE X ANR ACI CAM MUR BTU TCK RIG WFT EMR JNPR LRCX ABX PAAS VALE JPM GS MOS F TTM. And a lot of these were soft even before this recent pervasive weakness.
Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CROX 20.40, ALB 65.10, WYN 32.75, AGP 66, UNH 47.40, JWN 42.10, YUM 53, CHKP 53.50, KSU 54.75, UNP 99.50, COG 53.75, QCOM 55.70. Stocks that lost their 50 day MAs today were MAR WYNN ZMH ANF SCSS VIAB PM NUAN ADP EMC. Stocks that can be shorted at 50 day resistance are ROC 50.75, SYK 60.80, ANF 70.50, BBBY 54.10, COST 79.10, VIAB 49.05, SAP 63, CHRW 78, A 48.35, ADS 89.25, SGY 31, IFF 63, APKT 75, MXIM 26.50. Stocks that met 50 day resistance today were CE EMN ABC COV AMZN AN PAG SBUX ITW JBL MOLX CRZO EOG MRO OXY HK SUN EL CCK NTAP DTV PCS ARMH ADI TRW WAT.
Good luck.
I will be vacationing in Montauk for the rest of the week, so no blog posts will be written.
The author owns HK TIBX.
Stocks near 50 day support include COH 58, AET 41, AGN 79, BAX 57, HUM 75, WLP 75, CBS 25.90, ABV 31, AB 25.60, BMC 52, ERTS 21.75, INFA 54, QLIK 29.90, VMW 91.25, TMO 60, BHI 72, EQT 50.05, KEG 16, MSI 45.40, VECO 51, SQM 58.25. Stocks that found 50 day support today were HS WCN CTXS ROVI CNI NSC ATLS PTEN SUG ACN VCLK TDC ALTR AVGO SMTC.
Stocks near 200 day support are HBI 26.75, PVH 62.75, VFC 89, DOW 34.10, HUN 16, PX 96, SOA 22, CAR 14.80, VPHM 17.15, ANN 25.05, EXPR 17.45, FAST 29.50, WFM 52, CBE 58.20, DOV 60, IR 44.20, JOYG 85, PLL 50 (earnings Wed after close), PH 84, ROK 76, WM 36.75, ORCL 31, MOLX 24, R 48, ATI 58.30, TKR 46.75, APC 71, CHK 27.50, COP 68.20, DVN 78.50, XOM 76, HLX 13.95, NBR 24, NBL 86, RDSA 67.20, SLB 80, WLL 59.25, MMM 89.10, UTX 80, AAPL 324, JDSU 16.90, MCHP 35.30, TXN 32.30, AA 15.10, CLF 81, RIO 67.65, POT 52.75, ARUN 25.95, BEAV 35.75. Stocks that found 200 day support today were AVT TTMI BP CXO DD KLAC. Stocks that found 200 day resistance today were WCRX MDRX PAYX GTI MDR SWC CMI ALV AGU. EBAY SUN both retook their 200 day MAs, while BGC AMP lost their 200 days today. Stocks that can be shorted at 200 day resistance are NKE 82.50, JCP 33, RHT 43.10, EXPD 51, APH 52.85, IVZ 23.85, TROW 61, MTL 27.80, DO 70.50, ETN 49.25, OMC 45.60, SPRD 18, SLW 35. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are FMC 77.75, HOT 56.90, DKS 35.10, WSM 38.70, DIS 38.75, APA 114.50, CLR 57.80, FTI 41.40, HES 73.50, NFX 67, PXD 86, CTSH 71.65, VRSN 33.05, BWA 66, TRW 51. Just to demonstrate how important the 200 day support line is (its often referred to as the last line in the sand) lets look at some stocks that recently lost their 200 day MAs and which became weaker and weaker. They include WRC LVS RCL BID NUE X ANR ACI CAM MUR BTU TCK RIG WFT EMR JNPR LRCX ABX PAAS VALE JPM GS MOS F TTM. And a lot of these were soft even before this recent pervasive weakness.
Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CROX 20.40, ALB 65.10, WYN 32.75, AGP 66, UNH 47.40, JWN 42.10, YUM 53, CHKP 53.50, KSU 54.75, UNP 99.50, COG 53.75, QCOM 55.70. Stocks that lost their 50 day MAs today were MAR WYNN ZMH ANF SCSS VIAB PM NUAN ADP EMC. Stocks that can be shorted at 50 day resistance are ROC 50.75, SYK 60.80, ANF 70.50, BBBY 54.10, COST 79.10, VIAB 49.05, SAP 63, CHRW 78, A 48.35, ADS 89.25, SGY 31, IFF 63, APKT 75, MXIM 26.50. Stocks that met 50 day resistance today were CE EMN ABC COV AMZN AN PAG SBUX ITW JBL MOLX CRZO EOG MRO OXY HK SUN EL CCK NTAP DTV PCS ARMH ADI TRW WAT.
Good luck.
I will be vacationing in Montauk for the rest of the week, so no blog posts will be written.
The author owns HK TIBX.
Monday, June 6, 2011
Monday Thoughts
Markets again took a fall to start the week today. Both the Nasdaq and S&P 500 both fell slightly more than 1%. The Nasdaq itself is down almost 5% this month alone, just 4 days long thus far. Recent strong groups were hit hard today including chemicals and healthcare. Semis outperformed. NFLX an important leader this year hit an all time high today then had an ugly outside reversal day closing down over 4%. AAPL reversed today and also had an outside day. Economic bellwhethers FDX UPS plunged below their 200 day MAs today. After the close a glimmer of good news, being IP making an unsolicited buy out offer for TIN. Interestingly both IP and TIN were up after hours. Not much in the way of earnings reports Tuesday and we get retail sales figures and consumer credit data.
Stocks near 50 day support are COH 58, AET 40.95, BAX 57, CI 46.50, HUM 75, WPI 60.80, M 26, CBS 25.90, DPS 39.55, ABV 31, PM 68, ABB 25.55, WCN 30.40, BMC 52, CHKP 53.80, CTXS 79.80, FTNT 22.05, INFA 54, QLIK 29.85, EQT 50, KEG 16, PTEN 29.25, BLL 37.50, MCO 37.10, VCLK 16.55, MSI 45.45, SQM 58.20. Stocks that found 50 day support today were PPO CNI NSC XPX HK SUG BHI ADP RVBD EMC TDC AVGO SMTC XLNX MON.
Stocks near 200 day support are HBI 26.70, PVH 62.50, VFC 89, APD 88, DOW 34.05, HUN 16, PPG 83, PX 96, CAR 14.75, SYK 56, VPHM 17.10, ANN 25, DKS 35.45, EXPR 17.60, FAST 29.50, JWN 42.15, WFM 52, WSM 36, CAT 94, CBE 58.20, DOV 59.75, IR 44.10, JOYG 85, PLL 50, PH 84, MTW 15.45, ROK 76, ADSK 39, ORCL 31, CSX 68, JBL 18.05, MOLX 24, PKI 25.30, DFS 20.25, KKR 14.75, PAY 41.20, APC 70.80, CHK 27.45, CXO 87, COP 68.20, CLR 58.10, DVN 78.50, EXXI 28.50, XOM 75.85, NBR 24, NE 38.30, NBL 86, PXD 86.25, RDSA 67.20, SLB 80, SU 38.85, VLO 23.55, WLL 59.20, MMM 89.15, CTSH 72, CMCSA 22.30, JDSU 16.80, OVTI 28.90, TXN 32.25, AA 15.05, BHP 88.75, POT 52.50. Stocks that found 200 day support today are DD KLAC DIS BGC AVT TTMI AMP BP HES. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are FMC 77.50, SOA 21.50, VRSN 33.05, APA 114.50, FTI 41.65, OPEN 79.25, BWA 66, ARUN 25.50. Stocks that lost their 200 day MAs today were HOT WCRX EBAY MDRX ROVI GTI DO MDR OMC PAYX SPRD SLW ALV. Stocks that can be shorted at 200 day resistance are JCP 33, EXPD 51, TROW 61, ANR 52. Stocks that met 200 day resistance today were LVS APH FCX BTU SWC CMI.
Stocks that can be shorted as they lose their 50 day MAs and their sell stops are CROX 20.40, ALB 65, MAR 34.60, WYN 31.75, WYNN 140, AGN 78.50, AGP 66, UNH 47.25, WLP 74.25, ANF 70, SCSS 14.70, YUM 52.80, VIAB 48.70, KSU 54.75, UNP 99.50, AXP 48.10, COG 53.75, TUP 61.75, QCOM 55.50, TWC 74.50. Stocks that lost their 50 day MAs today were CE HLS HS ITW NUAN ADS R DRC HAL NFX OXY EL RKT IRM NTAP APKT DTV PCS AEM WAT. Stocks that can be shorted at 50 day resistance are NKE 81.20, EMN 101, ABC 41, COV 54.50, AMZN 191, AN 34, BBBY 54, COST 79, PAG 20.65, CHRW 78, ADS 89, COF 53, MRO 52.10, SGY 31, WMB 31, TPX 60 MWV 32.55, ADI 39.80, VALE 32.05. Stocks that met 50 day resistance today were EMN SBUX TS ATW HOC NOV RRC ACN ARMH ALTR TRW AGU. Stock charts whose smooth uptrends now look broken recently are ROC TPX DTV PCLN.
Good luck.
The author owns TIBX HK.
Stocks near 50 day support are COH 58, AET 40.95, BAX 57, CI 46.50, HUM 75, WPI 60.80, M 26, CBS 25.90, DPS 39.55, ABV 31, PM 68, ABB 25.55, WCN 30.40, BMC 52, CHKP 53.80, CTXS 79.80, FTNT 22.05, INFA 54, QLIK 29.85, EQT 50, KEG 16, PTEN 29.25, BLL 37.50, MCO 37.10, VCLK 16.55, MSI 45.45, SQM 58.20. Stocks that found 50 day support today were PPO CNI NSC XPX HK SUG BHI ADP RVBD EMC TDC AVGO SMTC XLNX MON.
Stocks near 200 day support are HBI 26.70, PVH 62.50, VFC 89, APD 88, DOW 34.05, HUN 16, PPG 83, PX 96, CAR 14.75, SYK 56, VPHM 17.10, ANN 25, DKS 35.45, EXPR 17.60, FAST 29.50, JWN 42.15, WFM 52, WSM 36, CAT 94, CBE 58.20, DOV 59.75, IR 44.10, JOYG 85, PLL 50, PH 84, MTW 15.45, ROK 76, ADSK 39, ORCL 31, CSX 68, JBL 18.05, MOLX 24, PKI 25.30, DFS 20.25, KKR 14.75, PAY 41.20, APC 70.80, CHK 27.45, CXO 87, COP 68.20, CLR 58.10, DVN 78.50, EXXI 28.50, XOM 75.85, NBR 24, NE 38.30, NBL 86, PXD 86.25, RDSA 67.20, SLB 80, SU 38.85, VLO 23.55, WLL 59.20, MMM 89.15, CTSH 72, CMCSA 22.30, JDSU 16.80, OVTI 28.90, TXN 32.25, AA 15.05, BHP 88.75, POT 52.50. Stocks that found 200 day support today are DD KLAC DIS BGC AVT TTMI AMP BP HES. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are FMC 77.50, SOA 21.50, VRSN 33.05, APA 114.50, FTI 41.65, OPEN 79.25, BWA 66, ARUN 25.50. Stocks that lost their 200 day MAs today were HOT WCRX EBAY MDRX ROVI GTI DO MDR OMC PAYX SPRD SLW ALV. Stocks that can be shorted at 200 day resistance are JCP 33, EXPD 51, TROW 61, ANR 52. Stocks that met 200 day resistance today were LVS APH FCX BTU SWC CMI.
Stocks that can be shorted as they lose their 50 day MAs and their sell stops are CROX 20.40, ALB 65, MAR 34.60, WYN 31.75, WYNN 140, AGN 78.50, AGP 66, UNH 47.25, WLP 74.25, ANF 70, SCSS 14.70, YUM 52.80, VIAB 48.70, KSU 54.75, UNP 99.50, AXP 48.10, COG 53.75, TUP 61.75, QCOM 55.50, TWC 74.50. Stocks that lost their 50 day MAs today were CE HLS HS ITW NUAN ADS R DRC HAL NFX OXY EL RKT IRM NTAP APKT DTV PCS AEM WAT. Stocks that can be shorted at 50 day resistance are NKE 81.20, EMN 101, ABC 41, COV 54.50, AMZN 191, AN 34, BBBY 54, COST 79, PAG 20.65, CHRW 78, ADS 89, COF 53, MRO 52.10, SGY 31, WMB 31, TPX 60 MWV 32.55, ADI 39.80, VALE 32.05. Stocks that met 50 day resistance today were EMN SBUX TS ATW HOC NOV RRC ACN ARMH ALTR TRW AGU. Stock charts whose smooth uptrends now look broken recently are ROC TPX DTV PCLN.
Good luck.
The author owns TIBX HK.
Saturday, June 4, 2011
Weekend Warrior
Markets again weakened Friday putting a week to rest where both the S&P 500 and Nasdaq both lost 2.3%. The S&P 500 has now lost ground for 5 consecutive weeks. That has not happened since June-July of 2008. Friday brought a dismal employment report, which put the market on the defensive big time before the open. Other developments during the week, included another warning from Moodys concerns about US Debt, weak auto sales, poor retail figures, slowing ISM data, faltering consumer confidence all of which contributed to the market fragility. Indexes tried to rally midday but it was not to be. Sellers returned in the afternoon, with markets ending right at their lows for the session. The Nasdaq took the worst of it Friday dropping almost 1.5%. AMZN COST ALTR joined the list of leaders piercing their 50 day MAs Friday. NFLX, bucked Nazz weakness and hit an all time high Friday. Even some defensive names which have outperformed recently lost their mojo. GIS MKC lost their key 50 day MAs Friday as well. Educational stocks, is one defensive group that seems to be acting well. Sectors taking the brunt of the selling Friday were transports, retail and semis. Oil stocks held up relatively well. Not much on the earnings front or economic data Monday.
Again buying leading stocks breaking out of bases is a frivolous game. Same as the pundits saying buy defensive groups. Silly? A loss of 5% in a defensive name compared with a 10% loss in a higher beta security is still a loss. Better to build cash reserves and wait for a better market complexion. Obviously never abandon a watch list of leading stocks because the market can change its colors very quickly. Some to watch which have held up decently during this malaise are EXPE, which has a 3 week tight buy point of 28.40. WYNN 151.83 in a flat base, ABV 33.34 in a cup with high handle formation and ATW 45.20 in a double bottom base.
Stocks near 50 day support are WYNN 141.45, AET 40.75, AGP 66.10, BAX 57, HLS 26, HS 41, WPI 60.75, WLP 74.50, ZMH 64.55, ANF 70, FOSL 97.50, SCSS 15, YUM 33, CBS 25.75, VIAB 49, DPS 39.50, PM 68, WCN 30.35, BMC 51.95, CHKP 53.50, CTXS 79.40, FTNT 22.05, INFA 54, NUAN 20.50, QLIK 29.50, EQT 50, HAL 48.20, KEG 16, PTEN 29.10, HK 25.10, CL 83.50, TUP 62, BLL 37.50, VCLK 16.50, EMC 27.50, TDC 53, PCS 17.15, QCOM 55.95, VECO 51, SQM 58. Stocks that found 50 day support Friday were ALB PPO ITW TTWO CNI NSC UNP TEL COG CPX NFX OXY RES SWN ADP AVGP SMTX XLNX MON. Stocks that can be bought if they can reclaim their 50 day MAs and their buy stop spots are APC 78.25, CHK 32.25, EOG 112, NOV 74.50, SLB 87.25, WMB 31.30. UPL AEM both retook their 50 day MAs Friday.
Stocks near 2oo day support which are becoming numerous with this ailing market are PVH 62.60, APD 88, DOW 34.05, FMC 77.75, PPG 83, SOA 22, VPHM 17.10, ANN 25, DKS 35.25, JWN 42.10, WSM 36, KO 63.50, CBE 58.05, DOV 59.50, IR 44.05, JOYG 84, ROK 76, ADSK 39, ORCL 30.90, ROVI 54.50, VRSN 33.40, AVT 32.25, PKI 25.35, GTI 19.50, TKR 46.90, APA 115, CXO 88, COP 68, DVN 78.25, DO 70.20, FTI 42, HES 74, MDR 19.85, NBL 85.85, PXD 86, RDSA 67.10, MMM 89.10, UTX 79.50, CTSH 72, OPEN 80, CMCSA 22.25, ADI 36.90, MCHP 35.20, TXN 32.25, AA 15, BHP 88.45, POT 52.95, ARUN 25.65. Stocks that found 200 day support Friday were WCRX MDRX BP SU DD OMC PAYX NTAP RIO SLW ALV AGU. Stocks that lost their 200 day MAs Friday were JCP EXPD FDX UPS APH ETN TIN CMI DE. ANR BTU FCX all encountered 200 day resistance Friday. Stocks that can be shorted at 200 day resistance are LVS 43.15, BID 43, RHT 43.05, TROW 61, MTL 27.75, NUE 43, TCK 51.50, LRCX 48.10, SWC 20, JPM 42.50. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are EBAY 29.45, DIS 37.70, BGC 35.75, PH 83.75, TTMI 14.30, AMP 56.75, KLAC 40, SPRD 17.50, BWA 66. SUN can be bought thru 40.60, its 200 day MA.
Stocks that can be shorted at 50 day resistance are DECK 90, HBI 30, UA 69.50, EMN 102, ABC 40.90, AN 34, EXPR 21.10, FAST 33, ARBA 32.75, CSX 77, COF 53, DFS 24.30, HP 64, NBR 29, WNR 17, IP 30.50. Stocks that found 50 day resistance Friday were PCLN TS HOC MRO MCP. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CE 47.75, ROC 49.50, WYN 31.70, KSU 54.75, ADS 88.75, AXP 48.05, EL 97, TPX 59, RKT 70, IRM 32.25, AAPL 341, DTV 48, WAT 93.40. Stocks that lost their 50 day MA Friday were ACN ADI MXIM OVTI B TRW JBL MOLX R CCK MWV NKE LYB COV SYK CHRW A.
Good luck.
The author owns HK TIBX.
Again buying leading stocks breaking out of bases is a frivolous game. Same as the pundits saying buy defensive groups. Silly? A loss of 5% in a defensive name compared with a 10% loss in a higher beta security is still a loss. Better to build cash reserves and wait for a better market complexion. Obviously never abandon a watch list of leading stocks because the market can change its colors very quickly. Some to watch which have held up decently during this malaise are EXPE, which has a 3 week tight buy point of 28.40. WYNN 151.83 in a flat base, ABV 33.34 in a cup with high handle formation and ATW 45.20 in a double bottom base.
Stocks near 50 day support are WYNN 141.45, AET 40.75, AGP 66.10, BAX 57, HLS 26, HS 41, WPI 60.75, WLP 74.50, ZMH 64.55, ANF 70, FOSL 97.50, SCSS 15, YUM 33, CBS 25.75, VIAB 49, DPS 39.50, PM 68, WCN 30.35, BMC 51.95, CHKP 53.50, CTXS 79.40, FTNT 22.05, INFA 54, NUAN 20.50, QLIK 29.50, EQT 50, HAL 48.20, KEG 16, PTEN 29.10, HK 25.10, CL 83.50, TUP 62, BLL 37.50, VCLK 16.50, EMC 27.50, TDC 53, PCS 17.15, QCOM 55.95, VECO 51, SQM 58. Stocks that found 50 day support Friday were ALB PPO ITW TTWO CNI NSC UNP TEL COG CPX NFX OXY RES SWN ADP AVGP SMTX XLNX MON. Stocks that can be bought if they can reclaim their 50 day MAs and their buy stop spots are APC 78.25, CHK 32.25, EOG 112, NOV 74.50, SLB 87.25, WMB 31.30. UPL AEM both retook their 50 day MAs Friday.
Stocks near 2oo day support which are becoming numerous with this ailing market are PVH 62.60, APD 88, DOW 34.05, FMC 77.75, PPG 83, SOA 22, VPHM 17.10, ANN 25, DKS 35.25, JWN 42.10, WSM 36, KO 63.50, CBE 58.05, DOV 59.50, IR 44.05, JOYG 84, ROK 76, ADSK 39, ORCL 30.90, ROVI 54.50, VRSN 33.40, AVT 32.25, PKI 25.35, GTI 19.50, TKR 46.90, APA 115, CXO 88, COP 68, DVN 78.25, DO 70.20, FTI 42, HES 74, MDR 19.85, NBL 85.85, PXD 86, RDSA 67.10, MMM 89.10, UTX 79.50, CTSH 72, OPEN 80, CMCSA 22.25, ADI 36.90, MCHP 35.20, TXN 32.25, AA 15, BHP 88.45, POT 52.95, ARUN 25.65. Stocks that found 200 day support Friday were WCRX MDRX BP SU DD OMC PAYX NTAP RIO SLW ALV AGU. Stocks that lost their 200 day MAs Friday were JCP EXPD FDX UPS APH ETN TIN CMI DE. ANR BTU FCX all encountered 200 day resistance Friday. Stocks that can be shorted at 200 day resistance are LVS 43.15, BID 43, RHT 43.05, TROW 61, MTL 27.75, NUE 43, TCK 51.50, LRCX 48.10, SWC 20, JPM 42.50. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are EBAY 29.45, DIS 37.70, BGC 35.75, PH 83.75, TTMI 14.30, AMP 56.75, KLAC 40, SPRD 17.50, BWA 66. SUN can be bought thru 40.60, its 200 day MA.
Stocks that can be shorted at 50 day resistance are DECK 90, HBI 30, UA 69.50, EMN 102, ABC 40.90, AN 34, EXPR 21.10, FAST 33, ARBA 32.75, CSX 77, COF 53, DFS 24.30, HP 64, NBR 29, WNR 17, IP 30.50. Stocks that found 50 day resistance Friday were PCLN TS HOC MRO MCP. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CE 47.75, ROC 49.50, WYN 31.70, KSU 54.75, ADS 88.75, AXP 48.05, EL 97, TPX 59, RKT 70, IRM 32.25, AAPL 341, DTV 48, WAT 93.40. Stocks that lost their 50 day MA Friday were ACN ADI MXIM OVTI B TRW JBL MOLX R CCK MWV NKE LYB COV SYK CHRW A.
Good luck.
The author owns HK TIBX.
Thursday, June 2, 2011
Thursday Recap
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.
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.
Wednesday, June 1, 2011
Wednesday After Market
Markets slumped Wednesday, with indexes closing lower by more than 2%. They finished near session lows, just the opposite of yesterday, in higher than average volume. They pierced their 50 day MAs today, a day after the market gave signals that buys were again prudent. Traders however, need to be flexible and able to change their minds when the circumstances arise. Many leaders themselves, the strongest ones during this recent correction which held above their uptrends, gave up today. DHR UTX TYC all looked to have changed their complexion today for the worse. Sectors hurt the hardest today were banks, transports and commodities. Tech was not immune either. JNPR plunged 10% today, losing its 200 day MA. We first thought it was a CSCO thing, but apparently we were wrong. Some leaders tried to breakout today only to leave ugly negative reversals, such as VMW. Many former leaders also lost their 200 day MAs today. FCX IVZ TROW DE to name a few. Economic news was again weak today as it was yesterday, but the market reaction was obviously very different. ISM data was weak with the index coming close to the magic 50 number. Private job creation came in well below forecasts. Tomorrow brings jobless claims, factory orders and productivity numbers. Earnings reports come from JOYG before the bell, and PAY after the close.
Perhaps we were lucky to close out our profitable positions yesterday in FCX and BTU. But it was intuition as well. Put the buys on hold until the market can assert itself. Instead looks for key moving averages support. Stocks near 50 day support are AGP 66, TDC 53, ADP 53, DTV 48, EL 97.25, MWV 32.40, WAT 93, TRW 54.40, XLNX 33.65, EMC 27.45, MON 68, SYK 60.95, ABB 25.50, MOLX 26, TEL 35.50, HK 25, ANF 70, SMTC 26.90, ABV 30.55, PPO 61, YUM 53, WCN 30.25, TTWO 15.90, HAL 48.15, PCS 17.05. BHI COF found 50 day support today. If these levels do not hold, and they lose their 50 day MAs in big volume cut your losses quickly and even consider shorting.
Stocks near 200 day support are EBAY 29.65, ADSK 39, RDC 35.50, DKS 35.10, DIS 39, ORCL 30.80, NBL 84.75, MM 89, PAYX 30.50, TXN 32.10, FMC 77.40, VPHM 17.05, CBE 58, TTMI 14.50, APA 115, HES 74, NBR 24, RDSA 67, SLB 79.25, SU 38.55, DD 50, AA 15, BHP 88.25, RIO 67.10, DOW 34, ANN 25, JOYG 83.50 (earnings before bell Thursday), MDX 19.65, JWN 42, UPL 45.50, IP 27, TIN 21.90. MOS LVS MAR all found 200 day resistance today. Stocks that lost their 200 day MAs today were TCK WRC RHT BID MUR SUN SWC JPM. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are HOT 57.50, PH 83.50, FDX 90, APH 52.15, DO 69.50, FTI 41.60, ETN 48.70, KLAC 40, SPRD 17.50, JCP 32.50, VRSN 33. Stocks that can be shorted at 200 day resistance are PAAS 34.65, RIG 71.
Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are ACN 55.75, TWC 74.25, PX 102.80, AN 33.70, NSC 70, ABC 40.30, COV 54, BBBY 53, AAPL 340, AVGO 32.50, APD 91.50, UNH 47, CHRW 77.50, WYN 32.75, PKI 27, MXIM 26.05, ROC 50, LTD 38.10, A 47.50, CCK 38.60. Stocks that lost their 50 day MAs today were numerous and include MCHP IP IFF JWN IR JDSU WMB APKT MMM APKT CMCSA TXN GM HBI ARBA WNR EXPD AVT SBUX FAST APC CLR SGY POT RRC DECK SOA PAG FDX GSM NBL. Stocks that can be shorted at 50 day resistance are FAST 33, DFS 24.20, FCS 19, VFC 99.85, CMCSA 25, SAP 63, CHK 32, VLO 28, UA 69.70. Stocks that met 50 day resistance today were PLL HON BRCM EXPR RL VFC KO ORCL TS SE MCP ANR ATW TRN ATI APA CVX EOG XOM HP NE SPN VALE HUN.
Good luck.
The author owns HK TIBX.
Perhaps we were lucky to close out our profitable positions yesterday in FCX and BTU. But it was intuition as well. Put the buys on hold until the market can assert itself. Instead looks for key moving averages support. Stocks near 50 day support are AGP 66, TDC 53, ADP 53, DTV 48, EL 97.25, MWV 32.40, WAT 93, TRW 54.40, XLNX 33.65, EMC 27.45, MON 68, SYK 60.95, ABB 25.50, MOLX 26, TEL 35.50, HK 25, ANF 70, SMTC 26.90, ABV 30.55, PPO 61, YUM 53, WCN 30.25, TTWO 15.90, HAL 48.15, PCS 17.05. BHI COF found 50 day support today. If these levels do not hold, and they lose their 50 day MAs in big volume cut your losses quickly and even consider shorting.
Stocks near 200 day support are EBAY 29.65, ADSK 39, RDC 35.50, DKS 35.10, DIS 39, ORCL 30.80, NBL 84.75, MM 89, PAYX 30.50, TXN 32.10, FMC 77.40, VPHM 17.05, CBE 58, TTMI 14.50, APA 115, HES 74, NBR 24, RDSA 67, SLB 79.25, SU 38.55, DD 50, AA 15, BHP 88.25, RIO 67.10, DOW 34, ANN 25, JOYG 83.50 (earnings before bell Thursday), MDX 19.65, JWN 42, UPL 45.50, IP 27, TIN 21.90. MOS LVS MAR all found 200 day resistance today. Stocks that lost their 200 day MAs today were TCK WRC RHT BID MUR SUN SWC JPM. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are HOT 57.50, PH 83.50, FDX 90, APH 52.15, DO 69.50, FTI 41.60, ETN 48.70, KLAC 40, SPRD 17.50, JCP 32.50, VRSN 33. Stocks that can be shorted at 200 day resistance are PAAS 34.65, RIG 71.
Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are ACN 55.75, TWC 74.25, PX 102.80, AN 33.70, NSC 70, ABC 40.30, COV 54, BBBY 53, AAPL 340, AVGO 32.50, APD 91.50, UNH 47, CHRW 77.50, WYN 32.75, PKI 27, MXIM 26.05, ROC 50, LTD 38.10, A 47.50, CCK 38.60. Stocks that lost their 50 day MAs today were numerous and include MCHP IP IFF JWN IR JDSU WMB APKT MMM APKT CMCSA TXN GM HBI ARBA WNR EXPD AVT SBUX FAST APC CLR SGY POT RRC DECK SOA PAG FDX GSM NBL. Stocks that can be shorted at 50 day resistance are FAST 33, DFS 24.20, FCS 19, VFC 99.85, CMCSA 25, SAP 63, CHK 32, VLO 28, UA 69.70. Stocks that met 50 day resistance today were PLL HON BRCM EXPR RL VFC KO ORCL TS SE MCP ANR ATW TRN ATI APA CVX EOG XOM HP NE SPN VALE HUN.
Good luck.
The author owns HK TIBX.
Subscribe to:
Posts (Atom)