Markets finished the week off with solid gains once again. The Nasdaq finished the week almost 2% higher for the second week. This week came in greater volume. The S&P 500 has also recorded back to back firm weeks. Remember both indexes took out resistance levels this week. The Nasdaq has now risen for 8 consecutive days and is currently at a 10 year high. Impressive since big cap names, albeit leaders from long ago, RIMM MSFT were slammed Friday. Fridays winning groups hailed from the coal, solar and tire making sectors. Stocks that have broken out recently and continue to outperfrorm and tack on more gains are COH APKT ICON KSU HON ALTR HS BHI CE HK. Leaders rising above on solid earnings Friday were CAT OXY. VFC DECK, were retailers that were flattened out. Gold this week hit an all time high of $1556 as the dollar sank to its lowest level since July 2008. Silver finished up the month of April up 28%. GDP was reported at a paltry 1.8% this week for Q1 and the fed showed no signs of leaving interest rates at near 0%. Stocks hitting all time highs this week were CNI TWC GG ARUN DHR K MMM MCHP. A diverse bunch indeed. Earnings before the market opens Monday come from CPO LYB and after the close from APC ADP CHK FMC. RAX NOG WCRX also report Monday. Economic reports due Monday include construction spending and the ISM Manufacturing Index.
Stocks near specific buy points include: Cup bases MSCC 25.06, PVH 72.52, AVT 37.26, AVGO 34.70, CY 24.03, MXIM 28.54, TXN 36.81, XLNX 35.52, CHRW 82.15, EBAY 35.45, BUD 64.87. Cup with handles are CLR 73.58, XOM 88.33, NBL 99.09, UPL 50.91, AGU 99.24, CBS 26.27, FDX 96.60, BEAV 39.59, PETM 43.10. Flat bases are DVN 93.66, ADM 38.12, BMC 51.53, HES 87.50. Double bottoms are KLAC 48.19, SWKS 33.34, EXPD 55.21, OMC 49.88, TRW 60.40. Double bottom with handle is AAPL 355.23, and 3 week tight patterns are KO 68.57, CBI 41.88.
Stocks that can be bought as they retake their 50 day MAs and their buy stop spots are APC 80.25, BTU 68, SLB 90.25, SUN 43.70, WFT 21.85, AGU 92, POT 58, KLAC 46.25, ABX 52.25. Stocks that retook their 50 day MA Friday were ACI CHK COP CLR SU SWKS GSM AMX. Stocks near 50 day support are CVX 105, GPOR 31.75, NBR 29.05, SM 72, CBE 65, MTW 20.80, PPG 91, ABC 39, APH 55, TXN 35, DD 54.20, BX 18.05, PAY 52, DKS 39.85, SBUX 35.50, TTM 26.75. Stocks that found 50 day support Friday were CXO CMG NKE AA VALE BBD RKT.
Stocks near 200 day support are NOG 22.50, PBR 36.20, RIG 69.15, WCRX 22.25, MON 64, MOS 70, JBL 17.05, LRCX 47.35, RVBD 31, MTL 27.10, PAAS 33.50. NVLS found 200 day support Friday. Stocks that can be shorted at 200 day resistance are CRUS 18, X 51, MS 27. Stocks that can be bought through their 200 day MA and their buy stop spots are AEM 70.50, GOLD 88.30. Stocks that have had nice moves off recent 200 day support are MSCC SWKS RIG GR ABX CHRW.
Stocks that can be shorted at 50 day resistance are BEXP 34.50, FTO 28.20, MDR 24.05, NOV 78.50, SPN 38.80, VLO here, ROK 90.50, MAR 36.75, CCL 39.25, AMP here, TROW 65.75, UA 70, SLW 42.35, CLF 95. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are COP 78, VPHM 18.70, BRKR 19.30, NFLX 223, WFMI 61.50. Stocks that met 50 day resistance Friday were AMP EAT JPM HMC FTO SPN TCK VLO. Stocks that lost their 50 day MAs Friday were WCRX JBL DECK UA WY CLF.
Good luck.
The author owns TTM F RAX FCX.
Saturday, April 30, 2011
Thursday, April 28, 2011
Thursday Night Charting
Markets once again displayed muster today. With the major indexes all closing near intraday highs. A hallmark quality of bull markets are strong action into the close. And they did so again shrugging off disappointing early headlines. GDP of 1.8% and higher than expected jobless claims. Earnings for the most part continued to impress, with leaders CRR AET CTXS PAG MSI VIAB all surging. After the close earnings reports were mixed. EMN ACOM NTGR were powering ahead, while DECK RIMM MSFT MTW fell. More leading stocks broke out during the trading session today including COH KSU. Stocks like R ICON DOW ALTR continue to add to recent gains after breaking out this fortnight. Transports were strong and many theorists point to the recent all time high in the index, as evidence of the power of this rally. Earnings come tomorrow before the bell from CAT CVX WY VFC FLIR. Economic reports Friday are Chicago PMI, consumer sentiment and personal income.
Stocks near specific buy points include: Cup bases are DOV 68.17, AVT 37.26, AVGO 34.69, CY 24.03, MXIM 28.54, XLNX 35.52, CHRW 82.15, UPS 77.10, EBAY 35.45, QCOM 59.94, BUD 64.87, PVH 72.52, ADI 41.76. Cup with handles are APA 132.60, XOM 88.33, NBL 99.09, UPL 50.91, CBS 26.27, FDX 96.60, BEAV 39.59, CBI 42.59, KBR 38.89. Double bottoms are EXPD 55.21, OMC 49.88, TRW 60.40. 3 week tight is IP 31.10, 4 week tight is WCRX 24.43. IL, a recent breakout, retook its 30.41 cup base breakout on 4/20. It retreated to 50 day MA and rallied 6% today. CPX is coming back to its 32.59 cup with handle buy point it took out 4/21.
Stocks which can be bought as they retake their 50 day MAs and their buy stop spots are APC 80.50, ACI 34.30, CHK 33.50, DVN 90, SLB 90, WFT 21.90, GSM 22.40, JPM 46.25, HMC 39.10. ARBA NKE WY all retook their 50 day MAs today. Stocks near 50 day support are HES 82.25, NBR 29, SM 72, HS 38, APH 55, BRKR 19.70, TXN 35, BX 18, PAY 51.75, AAPL 344, CSX 76, DKS 39.80, YUM 51, ARUN 32, F 14.95, RIO 70, CLF 95 (up after bell on earnings). Stocks which enjoyed 50 day support today were CXO EXXI OXY PXD BMC CMG WFMI UA ADM BBD.
Stocks near 200 day support are CAM 48.25, NOG 22.95, SUN 39.80, TCK 50, WFT 20, MON 64, MOS 70, POT 51.25, KLAC 39, LRCX 47.40, NVLS 31.55, JNPR 35, RVBD 30.85, MTL 27.10, AMX 55.20, ABX 49, VALE 32.15. PBR found 200 day support today. RIMM got pummeled after the bell, after finding 200 day resistance during the day. BRCM X, now RIMM giving further examples to the dangers of losing your 200 day MA.
Stocks that can be shorted at 50 day resistance are APC 80, BEXP 34.50, COP 78.35, FTO 28.05, NOV 78.25, SPN 38.50, VLO 28.50, SWK 75.70, AGU 91.25, AMP here, URI 31.50. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are GPOR 31, MRO 51, VPHM 19. Stocks that lost their 50 day MAs today were COP SPN TCK WNR SWK AGU. Stocks that met 50 day resistance today were CLR NUE SLW PAAS CLR FTI FTO IO SLB VSEA. BG ABC both had bearish outside days Thursday.
Good luck.
The author owns TTM RAX F FCX.
Stocks near specific buy points include: Cup bases are DOV 68.17, AVT 37.26, AVGO 34.69, CY 24.03, MXIM 28.54, XLNX 35.52, CHRW 82.15, UPS 77.10, EBAY 35.45, QCOM 59.94, BUD 64.87, PVH 72.52, ADI 41.76. Cup with handles are APA 132.60, XOM 88.33, NBL 99.09, UPL 50.91, CBS 26.27, FDX 96.60, BEAV 39.59, CBI 42.59, KBR 38.89. Double bottoms are EXPD 55.21, OMC 49.88, TRW 60.40. 3 week tight is IP 31.10, 4 week tight is WCRX 24.43. IL, a recent breakout, retook its 30.41 cup base breakout on 4/20. It retreated to 50 day MA and rallied 6% today. CPX is coming back to its 32.59 cup with handle buy point it took out 4/21.
Stocks which can be bought as they retake their 50 day MAs and their buy stop spots are APC 80.50, ACI 34.30, CHK 33.50, DVN 90, SLB 90, WFT 21.90, GSM 22.40, JPM 46.25, HMC 39.10. ARBA NKE WY all retook their 50 day MAs today. Stocks near 50 day support are HES 82.25, NBR 29, SM 72, HS 38, APH 55, BRKR 19.70, TXN 35, BX 18, PAY 51.75, AAPL 344, CSX 76, DKS 39.80, YUM 51, ARUN 32, F 14.95, RIO 70, CLF 95 (up after bell on earnings). Stocks which enjoyed 50 day support today were CXO EXXI OXY PXD BMC CMG WFMI UA ADM BBD.
Stocks near 200 day support are CAM 48.25, NOG 22.95, SUN 39.80, TCK 50, WFT 20, MON 64, MOS 70, POT 51.25, KLAC 39, LRCX 47.40, NVLS 31.55, JNPR 35, RVBD 30.85, MTL 27.10, AMX 55.20, ABX 49, VALE 32.15. PBR found 200 day support today. RIMM got pummeled after the bell, after finding 200 day resistance during the day. BRCM X, now RIMM giving further examples to the dangers of losing your 200 day MA.
Stocks that can be shorted at 50 day resistance are APC 80, BEXP 34.50, COP 78.35, FTO 28.05, NOV 78.25, SPN 38.50, VLO 28.50, SWK 75.70, AGU 91.25, AMP here, URI 31.50. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are GPOR 31, MRO 51, VPHM 19. Stocks that lost their 50 day MAs today were COP SPN TCK WNR SWK AGU. Stocks that met 50 day resistance today were CLR NUE SLW PAAS CLR FTI FTO IO SLB VSEA. BG ABC both had bearish outside days Thursday.
Good luck.
The author owns TTM RAX F FCX.
Wednesday, April 27, 2011
Wednesday Recap
Markets moved higher Wednesday with the bulk of the moves coming after the much hyped Big Ben press conference. For the second consecutive day indexes enjoyed solid gains after taking out their resistance levels Tuesday. Volume was mixed and leading stocks continue to breakout. Today AMZN APKT both took out buy points. Others which have recently broke out in the last few days tacked on more gains. They include CMI ALTR R. New all time highs today came from a diverse group including DHR IBM UNP ACN COST TIF PRGO RAX ROC. On the negative side AAPL again failed to participate in the rally for the second straight day. But lets remember it rallied some 35 points from its bottom last week. Stocks that reacted negatively to earnings which has been a rarity of late were COP PH ROK NOV SWK CBG. In a healthy bull stocks frequently can shrug off a bad report. After hours earnings action was mixed. EBAY CTXS NSC XLNX were up, while SBUX AKAM NVLS were lower. BIDU was all over the place, but basically unchanged as we wrote. Tomorrow earnings flood continues with reports before the open from AET ABC APA AVT BLL BWA BG CAM CRUS DOW XOM HS IP IRM KBR MSI NBL OXY PAG HOT TYC VPHM. After the close ACOM CLF CROX DECK EMN MTW MSCC VSEA VRSN report. Economic reports Thursday are jobless claims and GDP estimates.
Stocks near specific buy points include: Cup bases are PVH 72.52, BUD 64.87, QCOM 59.94, CMCSA 26.01, KSY 57.08, CHRW 82.15, HOT 65.61, TXN 36.81, MXIM 28.54, AVGO 34.70, AVT 37.26 (earnings Thur), EBAY 35.45 (had earnings Wed after bell). Cup with handles are APA 132.60 (earnings Thur), XOM 88.33 (earnings Thur), NBL 99.09 (earnings Thur), UPL 50.91, VRSN 37.60 (earnings Thur), FDX 96.60, BEAV 39.59. Double bottoms are KLAC 48.19, EXPD 55.21, OMC 49.88, COH 58.38, WY 25.35, TRW 60.40. Flat bases are DD 56.62, SBUX 38.31 (earnings Wed after bell). IP 31.10 in a 3 weeks tight and RIO 75.09 in a double bottom with handle.
Stocks that can be bought through their 50 day MAs and their buy stop spots are CHK 33.50, SLB 90.50, AFL 54.75, JDSU 21.50, ARBA 31.80, NKE 82.25, AMX 57, WY 24.10, ABX 52.25, JPM 46.15. HES PXD VSEA ADM TRW all retook their 50 day MAs today. Stocks near 50 day support are GPOR 31.50, HES 82.25, NBR 29, SM 72, DOV 65, PLL 56.20, PPG 90.75, HS 38, CBS 24, APH 55, IL 28, BLL 36, DFS 23, DKS 39.75, YUM 51, F 15, SKX 20. Stocks that found 50 day support Wednesday were COP OXY SPN TCK CBG WCRX JBL BMC NFLX PAY CSX CBI KBR CLF (earnings Thur), RKT BSFT.
Stocks near 200 day support are NOG 22.50, PBR 36.25, SUN 39.75, WFT 20, MOS 70, LRCX 47.50, SWKS 26, MT 34.75, MTL 27.05, VALE 32.10, HMC 37.50, ACOM 28 (earnings Thur). RIG bounced nicely off 200 day support Wednesday. NKE faced 200 day resistance today. GOLD can be bought thru its 200 day MA at 88.50. Stocks that can be shorted at their 200 day MAs are CRUS 18 (earnings Thur), RIMM 56.25, MS 27. X is another good example of what happens when 200 day support fails. Had another miserable day today on a strong tape losing its 200 day MA.
Stocks that can be shorted at 50 day resistance are APC 80, ACI 34, MDR 24.05, NOV 78.25, MON 69.50, AMP 62, TROW 66, AEM here. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are COP 78, EXXI 33.20, MRO 51, CMG 261. Stocks that lost their 50 day MAs Wednesday were CLR FTO NOV ROK AGU POT EAT. Stocks that met 50 day resistance today were VLO NUE SLW APC ACI CHK DVN SLB. Weakness was seen today on a benign tape from BEXP APC JNPR.
Good luck.
The author owns TTM F RAX FCX.
Stocks near specific buy points include: Cup bases are PVH 72.52, BUD 64.87, QCOM 59.94, CMCSA 26.01, KSY 57.08, CHRW 82.15, HOT 65.61, TXN 36.81, MXIM 28.54, AVGO 34.70, AVT 37.26 (earnings Thur), EBAY 35.45 (had earnings Wed after bell). Cup with handles are APA 132.60 (earnings Thur), XOM 88.33 (earnings Thur), NBL 99.09 (earnings Thur), UPL 50.91, VRSN 37.60 (earnings Thur), FDX 96.60, BEAV 39.59. Double bottoms are KLAC 48.19, EXPD 55.21, OMC 49.88, COH 58.38, WY 25.35, TRW 60.40. Flat bases are DD 56.62, SBUX 38.31 (earnings Wed after bell). IP 31.10 in a 3 weeks tight and RIO 75.09 in a double bottom with handle.
Stocks that can be bought through their 50 day MAs and their buy stop spots are CHK 33.50, SLB 90.50, AFL 54.75, JDSU 21.50, ARBA 31.80, NKE 82.25, AMX 57, WY 24.10, ABX 52.25, JPM 46.15. HES PXD VSEA ADM TRW all retook their 50 day MAs today. Stocks near 50 day support are GPOR 31.50, HES 82.25, NBR 29, SM 72, DOV 65, PLL 56.20, PPG 90.75, HS 38, CBS 24, APH 55, IL 28, BLL 36, DFS 23, DKS 39.75, YUM 51, F 15, SKX 20. Stocks that found 50 day support Wednesday were COP OXY SPN TCK CBG WCRX JBL BMC NFLX PAY CSX CBI KBR CLF (earnings Thur), RKT BSFT.
Stocks near 200 day support are NOG 22.50, PBR 36.25, SUN 39.75, WFT 20, MOS 70, LRCX 47.50, SWKS 26, MT 34.75, MTL 27.05, VALE 32.10, HMC 37.50, ACOM 28 (earnings Thur). RIG bounced nicely off 200 day support Wednesday. NKE faced 200 day resistance today. GOLD can be bought thru its 200 day MA at 88.50. Stocks that can be shorted at their 200 day MAs are CRUS 18 (earnings Thur), RIMM 56.25, MS 27. X is another good example of what happens when 200 day support fails. Had another miserable day today on a strong tape losing its 200 day MA.
Stocks that can be shorted at 50 day resistance are APC 80, ACI 34, MDR 24.05, NOV 78.25, MON 69.50, AMP 62, TROW 66, AEM here. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are COP 78, EXXI 33.20, MRO 51, CMG 261. Stocks that lost their 50 day MAs Wednesday were CLR FTO NOV ROK AGU POT EAT. Stocks that met 50 day resistance today were VLO NUE SLW APC ACI CHK DVN SLB. Weakness was seen today on a benign tape from BEXP APC JNPR.
Good luck.
The author owns TTM F RAX FCX.
Tuesday, April 26, 2011
Tuesday Recap
Markets rallied sweetly a day before the Feds unprecedented press conference following their FOMC meeting. Both the Nasdaq and S&P 500 both broke through resistance levels and closed near highs for the day, which were also new 52 week highs for the indexes. Volume was up sharply from Tuesdays levels, although they were the softest of this year yesterday. Leaders were strangely mixed today with AAPL NFLX OPEN TZOO UA LULU KO all lagging. NFLX UA KO were due to poor earnings reports where the carnage stopped at their 50 day MAs today. IBM, a recent leader, hit an all time high on a 15% dividend hike and a big buyback. Strong groups included the semis, transports and machinery sectors. Cloud related firms were soft. Commodities sold off thanks again to a weaker dollar, and perhaps in front of what may be spoken by Bernanke regarding the easy money that has flooded the financial markets for almost 2 years. Gold, oil and silver all fell today with silver taking the worst of the beating, down almost 5%. Consumer confidence rose and morning earnings reports put a bid under the market, that it really never surrendered. F WAT CMI MMM all set the bullish tone with solid forecasts. After the close today a number of companies reported earnings. AMZN is up while APKT BRCM SWK are all lower. Tomorrow a bevy of earnings reports continues with ATI ARW BHI EAT HES NOV PH PX ROK ROC WLP COP before the bell and AKAM CTXS EBAY NSC NVLS OIS SBUX SPN WLL XLNX after the close. Durable goods will also be reported before the opening.
Stocks near specific buy points include: Cup bases are AVT 37.26, AVGO 34.70, MXIM 28.54, SPRD 24.30, TXN 37.71, CHRW 82.15, KSU 57.08 (earnings Wednesday), EBAY 35.45 (earnings Wed), QCOM 59.94, BUD 64.87, RKT 74.36. Cup with handles are APA 132.60, XOM 88.33, NBL 99.09, AGU 99.24, FDX 96.60, BEAV 39.59, FLIR 35.41, RIO 75.09. Flat bases are CXO 110.99, PLL 59.60, CMCSA 26.01, COP 81.90 (earnings Wed), NOV 82.90 (earnings Wed). Double bottoms are MOS 83.51, KLAC 48.19, EXPD 55.21, OMC 49.88, NVLS (earnings Wed). Double bottom with handle is BBD 21.44 and 3 week tight is IP 31.10. R broke out from a 52.16 double bottom with handle today. HON DOW both continue to add to recent gains from their breakouts last week.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CHK 33.40, DVN 90.20, SLB 90.25, AMX 56.90, TRW 55.75. Stocks that retook their 50 day MAs today were NOV (earnings Wed), OXY AGU APH JBL VSEA CSX ADM AA AMT.
Stocks near 50 day support are BHI 71 (earnings Wed), GPOR 31, MRO 51, SM 72, SPN 38.55 (earnings Wed), TCK 54.25, WNR 17, SWK 75.25 (earnings tonight), CBG 27, STJ 50.15, VPHM 19, CBS 24, IL 28, VRSN 36.15, DD 54.20, BX 18, AAPL 345, YUM 51, CLF 95, KBR 35.50, SBUX 35.20 (earnings Wed).
Stocks near 200 day support are PBR 36.25, RIG 68, WFT 20, LRCX 47.25, SWKS 26, MTL 27.05, ABX 48.95, PAAS 33.25, HMC 37.25. Stocks that can be shorted at their 200 day MAs are CRUS 18, X 51, NKE 81, RIMM 56.50, GOLD 88, MS 27.
Stocks that can be shorted at their 50 day MAs are APC 80, BEXP 34.30, HES 82.25 (earnings Wed), MDR 24.05, AMP 62, TROW 66, URI 1.75, WY 24, AEM 67.50, JPM 46. Stocks that can be shorted under their 50 day MAs and their sell stop spots are FTO 27.80, PAY 51, NFLX 224. WDR lost its 50 day MA today. APC BEXP DVN SLB NUE all met 50 day resistance today. Weakness was met today in BEXP RIG VLO AMP JNPR SLW BAC.
Good luck.
The author owns TTM RAX F FCX.
Stocks near specific buy points include: Cup bases are AVT 37.26, AVGO 34.70, MXIM 28.54, SPRD 24.30, TXN 37.71, CHRW 82.15, KSU 57.08 (earnings Wednesday), EBAY 35.45 (earnings Wed), QCOM 59.94, BUD 64.87, RKT 74.36. Cup with handles are APA 132.60, XOM 88.33, NBL 99.09, AGU 99.24, FDX 96.60, BEAV 39.59, FLIR 35.41, RIO 75.09. Flat bases are CXO 110.99, PLL 59.60, CMCSA 26.01, COP 81.90 (earnings Wed), NOV 82.90 (earnings Wed). Double bottoms are MOS 83.51, KLAC 48.19, EXPD 55.21, OMC 49.88, NVLS (earnings Wed). Double bottom with handle is BBD 21.44 and 3 week tight is IP 31.10. R broke out from a 52.16 double bottom with handle today. HON DOW both continue to add to recent gains from their breakouts last week.
Stocks that can be bought as they reclaim their 50 day MAs and their buy stop spots are CHK 33.40, DVN 90.20, SLB 90.25, AMX 56.90, TRW 55.75. Stocks that retook their 50 day MAs today were NOV (earnings Wed), OXY AGU APH JBL VSEA CSX ADM AA AMT.
Stocks near 50 day support are BHI 71 (earnings Wed), GPOR 31, MRO 51, SM 72, SPN 38.55 (earnings Wed), TCK 54.25, WNR 17, SWK 75.25 (earnings tonight), CBG 27, STJ 50.15, VPHM 19, CBS 24, IL 28, VRSN 36.15, DD 54.20, BX 18, AAPL 345, YUM 51, CLF 95, KBR 35.50, SBUX 35.20 (earnings Wed).
Stocks near 200 day support are PBR 36.25, RIG 68, WFT 20, LRCX 47.25, SWKS 26, MTL 27.05, ABX 48.95, PAAS 33.25, HMC 37.25. Stocks that can be shorted at their 200 day MAs are CRUS 18, X 51, NKE 81, RIMM 56.50, GOLD 88, MS 27.
Stocks that can be shorted at their 50 day MAs are APC 80, BEXP 34.30, HES 82.25 (earnings Wed), MDR 24.05, AMP 62, TROW 66, URI 1.75, WY 24, AEM 67.50, JPM 46. Stocks that can be shorted under their 50 day MAs and their sell stop spots are FTO 27.80, PAY 51, NFLX 224. WDR lost its 50 day MA today. APC BEXP DVN SLB NUE all met 50 day resistance today. Weakness was met today in BEXP RIG VLO AMP JNPR SLW BAC.
Good luck.
The author owns TTM RAX F FCX.
Monday, April 25, 2011
Monday Thoughts
Markets paused to start the week after the holiday break. Volume and leading stocks were tame. SOHU did manage to break out however. Stocks did stall even in the face of some decent news. Good home sale news, solid earnings reports and some M&A activity in the commodity space. Indexes remain firmly above their 50 day MAs. After hours some tech movement was delivered from a poor earnings report from NFLX and the announcement of ORCL CFO resigning. Could have a negative impact on the Nasdaq opening tomorrow. Gold and silver stocks reversed today after the metals themselves hit strong new highs early on. Networkers, software and internet sectors were the leaders of the day. Tomorrow brings consumer confidence reports and home price data. Earnings before the bell Tuesday include AGCO ACI CE KO F SIAL UA X VLO WAT WDR COH and APKT ALTR AMZN BRCM CHRW CBI NBR RKT SWK after the close.
Stocks near specific buy points include: Cup with handles are HAL 50.84, UPL 50.91, AGCO 57.30 (earnings Tuesday), VRSN 37.60, FDX 96.60, FLIR 35.41, CBI 42.59. Cup bases are AVGO 34.70, MXIM 28.54, SPRD 24.30, CHRW 82.15, UPS 77.10, EBAY 35.45, PETM 43.49, ABV 32.10. Double bottoms are AAPL 354.42, JNPR 42.37, EXPD 55.21. Flat bases are NOV 82.90, SWK 77.57 (earnings Tuesday). Double bottom with handle is BBD 21.44, DKS 41.93 in a 3 week tight pattern and KO 68.57 (earnings Tuesday) in a 4 week tight base.
Stocks that cna be bought if they can retake their 50 day MAs to the upside and their buy stop spots are CHK 33.25, AGU 92.75, TRW 55.75. POT UPS EBAY all retook their 50 day MAs today. Stocks near 50 day support are BHI 70.50, CVX 104.20, COP 78, XOM 84, MRO 51, NBR 29 (earnings Tuesday), NBL 93, RDSA 72, SM 71.80, SPN 38.50, TCK 54.25, WNR 17, CAT 106, DOV 65, JOYG 95.50, CBG 26.90, PPG 90.50, HS 37.75, STJ 50.10, DE 91.25, CBS 24, VIAB 46, DTV 46, ARW 41, AVT 34, DHR 51.50, WAT 85.50 (earnings Tuesday), ORCL 33, CY 20, TXN 35, BLL 36, DD 54.15, IP 28.20, BX 18, DFS 23, GR 85.85, CMG 262, SBUX 35.20, QCOM 55, KBR 35.55, RIO 70, ROC 48, RKT 68.40 (earnings Tuesday). Stocks that found 50 day support today were CXO FTI SU VLO CBE IL AVGO CNI UNP MT EAT PAG ABX.
Stocks near 200 day support are APA 111, PBR 36.60, RIG 68, WFT 19.90, WCRX 22.20, MON 63.75, BRCM 40 (earnings Tuesday), LRCX 47.15, SWKS 26, TROW 58.80, MTL 27.10, X 51 (earnings Tuesday), AMX 55.10, ABX 48.85, PAAS 33.10, JPM 41.95, HMC 37.25 NKE GOLD both met 200 day resistance today. MS can be shorted at 27, its 200 day MA. NOG had a solid 4% move today after finding 200 day support last week. NOG has now rallied almost 14% in 4 days since finding 200 day support.
Stocks that can be shorted at their 50 day MAs are APC 80, DVN 89, HES 82.25, MDR 24.05, OXY 101.75, SLB 90, VSEA 46.25, URI 31.75, RVBD 38, CSX 76, GSM 22.25, WY 23.95, AEM 68, ADM 36.10. Stocks that met 50 day resistance today were CHK DVN SLB AGU JBL ADM AA AMT. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CLR 67, IO 12.05, PXD 99.25, PLL 55.50, ARBA 31, amp 61.75, el 92.50. Stocks that lost their 50 day MAs today were APA BMC SLW AEM PAAS.
Good luck.
The author owns TTM RAX F FCX.
Stocks near specific buy points include: Cup with handles are HAL 50.84, UPL 50.91, AGCO 57.30 (earnings Tuesday), VRSN 37.60, FDX 96.60, FLIR 35.41, CBI 42.59. Cup bases are AVGO 34.70, MXIM 28.54, SPRD 24.30, CHRW 82.15, UPS 77.10, EBAY 35.45, PETM 43.49, ABV 32.10. Double bottoms are AAPL 354.42, JNPR 42.37, EXPD 55.21. Flat bases are NOV 82.90, SWK 77.57 (earnings Tuesday). Double bottom with handle is BBD 21.44, DKS 41.93 in a 3 week tight pattern and KO 68.57 (earnings Tuesday) in a 4 week tight base.
Stocks that cna be bought if they can retake their 50 day MAs to the upside and their buy stop spots are CHK 33.25, AGU 92.75, TRW 55.75. POT UPS EBAY all retook their 50 day MAs today. Stocks near 50 day support are BHI 70.50, CVX 104.20, COP 78, XOM 84, MRO 51, NBR 29 (earnings Tuesday), NBL 93, RDSA 72, SM 71.80, SPN 38.50, TCK 54.25, WNR 17, CAT 106, DOV 65, JOYG 95.50, CBG 26.90, PPG 90.50, HS 37.75, STJ 50.10, DE 91.25, CBS 24, VIAB 46, DTV 46, ARW 41, AVT 34, DHR 51.50, WAT 85.50 (earnings Tuesday), ORCL 33, CY 20, TXN 35, BLL 36, DD 54.15, IP 28.20, BX 18, DFS 23, GR 85.85, CMG 262, SBUX 35.20, QCOM 55, KBR 35.55, RIO 70, ROC 48, RKT 68.40 (earnings Tuesday). Stocks that found 50 day support today were CXO FTI SU VLO CBE IL AVGO CNI UNP MT EAT PAG ABX.
Stocks near 200 day support are APA 111, PBR 36.60, RIG 68, WFT 19.90, WCRX 22.20, MON 63.75, BRCM 40 (earnings Tuesday), LRCX 47.15, SWKS 26, TROW 58.80, MTL 27.10, X 51 (earnings Tuesday), AMX 55.10, ABX 48.85, PAAS 33.10, JPM 41.95, HMC 37.25 NKE GOLD both met 200 day resistance today. MS can be shorted at 27, its 200 day MA. NOG had a solid 4% move today after finding 200 day support last week. NOG has now rallied almost 14% in 4 days since finding 200 day support.
Stocks that can be shorted at their 50 day MAs are APC 80, DVN 89, HES 82.25, MDR 24.05, OXY 101.75, SLB 90, VSEA 46.25, URI 31.75, RVBD 38, CSX 76, GSM 22.25, WY 23.95, AEM 68, ADM 36.10. Stocks that met 50 day resistance today were CHK DVN SLB AGU JBL ADM AA AMT. Stocks that can be shorted as they lose their 50 day MAs and their sell stop spots are CLR 67, IO 12.05, PXD 99.25, PLL 55.50, ARBA 31, amp 61.75, el 92.50. Stocks that lost their 50 day MAs today were APA BMC SLW AEM PAAS.
Good luck.
The author owns TTM RAX F FCX.
Friday, April 22, 2011
Weekend Stock Reflections
Markets continued there bullish tone Thursday in a shortened week with the markets closed for Good Friday. During the week, full of earnings reports, the Nasdaq and S&P 500 both reclaimed their 50 day MAs. The Nasdaq outperformed the S&P 500, as the tech index rallied 2%, while the S&P 500 gained 1.3%. Indexes are approaching resistance levels here with the Nasdaq near 2840 and the S&P 500 at 1340. With another big earnings load this coming week perhaps those resistance levels can be taken out. Lending further credence to the rally was the positive action that leading stocks provided. Many broke out, which we know is a strong baromter to overall market health. Socks hitting all time highs Thursday were A WAT UTX OPEN IBM LULU TIF RL. Both the SMH XLE groups are returning to the limelight after some recent trouble. Both the SDS VXX were again repelled at their 50 day MAs during the week. Keep in mind that volatility increases during the bulk of earnings season, so keep that in mind. Earnings next Monday come from SOHU BEAV CBE before the open and NFLX after the bell. New home sales will also be reported.
Stocks near specific buy points are: Cup with handles BHI 75.20, CLR 73.58, DVN 93.66, XOM 88.33, HAL 50.84, MRO 54.29, NOV 82.90, NBL 99.09, RDSA 75.34, SPN 41.75, AGCO 57.30, VRSN 37.60, AMP 63.88, FDX 96.60, FLIR 35.41, JWN 47.38. Cup bases DOV 68.17, AET 39.33, AVT 37.26, TXN 36.81, HOT 65.61, CHRW 82.15, PETM 43.49, QCOM 59.94, ABV 32.10, ABX 55.82, RKT 74.36, SIAL 68.02. Flat bases CXO 110.99, COP 81.90, WMB 31.99, SWK 77.57, PPO 61.85, WDR 42.59, PLCM 52.20, SBUX 38.31, CMCSA 26.01. Double bottoms MOS 83.51, ARMH 31.43, AAPL 354.42, JNPR 42.37, EXPD 55.21, OMC 49.88, TRW 56.58. Double bottom with handles are BG 74.50, R 52.16, AMZN 188.37, CMI 113.75. 3 week tight patterns MSI 44.86, IP 31.10, DD 56.62, DKS 41.93. 4 week tight is WCRX 24.43, and DTV 47.70 in a square box pattern. HON cleared a 60.12 cup with handle post earnings. CPX cleared a 32.59 cup with handle buy point as well. DOW cleared a 39.10 flat base buy point Thursday too. DHR cleared a 53.11 flat base buy point on earnings then reversed. IL is right back to its 30.41 cup base buy point it cleared on Wednesday. This is completely normal action, and remember to cut all losses at 7% from your purchase point no matter what.
Stocks that can be purchased as they reclaim their 50 day MAs and their buy stop spots are CHK 33.35, OXY 101.75, BTU 67.75, PBR 39.60, SLB 90.75, AGU 92.75, POT 59.15, JBL 20.90, BRCM 40.90, RVBD 38.50, UPS 73.85, MTL 30.25, GSM 22.40, EBAY 32.55, ADM 36.40. Stocks that reclaimed their 50 day MAs Thursday were CXO CI NOV SU VLO AA VALE BRCM CY MXIM HOT COF BWA PAG. Stocks near 50 day support are CVX 104, GPOR 30.50, PXD 100, SGY 30, UPL 46.80, WNR 17, CBE 64.50, JOYG 95.50, PLL 56.20, LYB 39.75, STJ 50, VAIB 46, DHR 51.25, CHKP 50.25, ORCL 32.80, AVGO 32, CY 20, BLL 36, DFS 23, ADP 50.75, GR 86, EAT 24.30, DKS 39.30, EL 93.50, CBI 38, VAL 38.50, CLF 94.50, ROSE 44, ROC 47.60. Stocks that found 50 day support Thursday were APA EXXI IO ARBA CNI SLW. WLT had an enormous 10 point intraday reversal off of a bounce from its 50 day MA Thursday post earnings.
Stocks near 200 day support are NOG 22.25, SUN 39.45, RIG 68.25, WFT 19.85, JBL 17, LRCX 47, TROW 58.75, MTL 27, X 50.80, AMX 55, PAAS 33. HMC reclaimed its 200 day MA, while GOLD MS found 200 day resistance after trying intraday to reclaim that line. Stocks that can be shorted at 200 day resistance are NKE 81, RIMM 56.25, MAR 37.50.
Stocks that can be shorted at 50 day resistance are APC 80.25, HES 82.25, MDR 24, MON 70, URI 32, CSX 76, WY 24, JPM 46. Stocks whihc ran into 50 day resistance Thursday were APC BEXP OXY SLB AGU APH BMC VSEA CSX UNP AEM AMT.
A quick look at bifurcating action within sectors is always a good idea. Lets take 2 groups today. In the semis group which behaved relatively well Thursday if you were not in the right stocks you could have been hurt. While stocks like ATML CY MSCC ARMH all powered ahead laggards like CREE CRUS fell. Stick with strength. Im not endorsing a pairs trade here but they could develop. In the gold sector, lets compare the strength of GG ABX as opposed to the weakness in AEM. Again leave the laggards for the guys who specialize in value. Buy strength and sell weakness.
Good luck.
The author owns TTM F RAX FCX.
Stocks near specific buy points are: Cup with handles BHI 75.20, CLR 73.58, DVN 93.66, XOM 88.33, HAL 50.84, MRO 54.29, NOV 82.90, NBL 99.09, RDSA 75.34, SPN 41.75, AGCO 57.30, VRSN 37.60, AMP 63.88, FDX 96.60, FLIR 35.41, JWN 47.38. Cup bases DOV 68.17, AET 39.33, AVT 37.26, TXN 36.81, HOT 65.61, CHRW 82.15, PETM 43.49, QCOM 59.94, ABV 32.10, ABX 55.82, RKT 74.36, SIAL 68.02. Flat bases CXO 110.99, COP 81.90, WMB 31.99, SWK 77.57, PPO 61.85, WDR 42.59, PLCM 52.20, SBUX 38.31, CMCSA 26.01. Double bottoms MOS 83.51, ARMH 31.43, AAPL 354.42, JNPR 42.37, EXPD 55.21, OMC 49.88, TRW 56.58. Double bottom with handles are BG 74.50, R 52.16, AMZN 188.37, CMI 113.75. 3 week tight patterns MSI 44.86, IP 31.10, DD 56.62, DKS 41.93. 4 week tight is WCRX 24.43, and DTV 47.70 in a square box pattern. HON cleared a 60.12 cup with handle post earnings. CPX cleared a 32.59 cup with handle buy point as well. DOW cleared a 39.10 flat base buy point Thursday too. DHR cleared a 53.11 flat base buy point on earnings then reversed. IL is right back to its 30.41 cup base buy point it cleared on Wednesday. This is completely normal action, and remember to cut all losses at 7% from your purchase point no matter what.
Stocks that can be purchased as they reclaim their 50 day MAs and their buy stop spots are CHK 33.35, OXY 101.75, BTU 67.75, PBR 39.60, SLB 90.75, AGU 92.75, POT 59.15, JBL 20.90, BRCM 40.90, RVBD 38.50, UPS 73.85, MTL 30.25, GSM 22.40, EBAY 32.55, ADM 36.40. Stocks that reclaimed their 50 day MAs Thursday were CXO CI NOV SU VLO AA VALE BRCM CY MXIM HOT COF BWA PAG. Stocks near 50 day support are CVX 104, GPOR 30.50, PXD 100, SGY 30, UPL 46.80, WNR 17, CBE 64.50, JOYG 95.50, PLL 56.20, LYB 39.75, STJ 50, VAIB 46, DHR 51.25, CHKP 50.25, ORCL 32.80, AVGO 32, CY 20, BLL 36, DFS 23, ADP 50.75, GR 86, EAT 24.30, DKS 39.30, EL 93.50, CBI 38, VAL 38.50, CLF 94.50, ROSE 44, ROC 47.60. Stocks that found 50 day support Thursday were APA EXXI IO ARBA CNI SLW. WLT had an enormous 10 point intraday reversal off of a bounce from its 50 day MA Thursday post earnings.
Stocks near 200 day support are NOG 22.25, SUN 39.45, RIG 68.25, WFT 19.85, JBL 17, LRCX 47, TROW 58.75, MTL 27, X 50.80, AMX 55, PAAS 33. HMC reclaimed its 200 day MA, while GOLD MS found 200 day resistance after trying intraday to reclaim that line. Stocks that can be shorted at 200 day resistance are NKE 81, RIMM 56.25, MAR 37.50.
Stocks that can be shorted at 50 day resistance are APC 80.25, HES 82.25, MDR 24, MON 70, URI 32, CSX 76, WY 24, JPM 46. Stocks whihc ran into 50 day resistance Thursday were APC BEXP OXY SLB AGU APH BMC VSEA CSX UNP AEM AMT.
A quick look at bifurcating action within sectors is always a good idea. Lets take 2 groups today. In the semis group which behaved relatively well Thursday if you were not in the right stocks you could have been hurt. While stocks like ATML CY MSCC ARMH all powered ahead laggards like CREE CRUS fell. Stick with strength. Im not endorsing a pairs trade here but they could develop. In the gold sector, lets compare the strength of GG ABX as opposed to the weakness in AEM. Again leave the laggards for the guys who specialize in value. Buy strength and sell weakness.
Good luck.
The author owns TTM F RAX FCX.
Wednesday, April 20, 2011
Wednesday After Market
Markets jumped Wednesday after a bevy of good earnings reports and a falling US dollar. Volume backed up the big gains and both the Nasdaq and S&P 500 reclaimed their 50 day MAs. Breadth was impressive. Gains were seen in retail, semiconductors and auto related sectors. Rails were weak on an earnings miss from CSX, and banks and ags were weak as well. INTC got the day started after a solid earnings report after the close Wednesday, giving enough of a boost to get the SMH above its 50 day MA. XLE, the energy ETF, also reclaimed its 50 day MA Wednesday. Many leading stocks broke out from bases today signaling the market rally is back on its uptrend. AAPL was behaving beautifully on earnings after the close as was QCOM. CMG was lower. Many retail stocks were among the issues hitting all time highs today. They included FOSL BBBY LTD TJX TIF DECK VFC WRC RL and GG. Tomorrow we can expect earnings before the open from BX CY DHR DD HON KSU MCD MS PPG RAI SLB TPX WFT and ADS COF PLCM INFA after the close. TROW CPX also report Thursday. Along with all the earnings reports we receive data on jobless claims, the Philly Fed and leading indicators tomorrow.
Stocks near specific buy points are: Cup with handles include BHI 75.20, XOM 88.33, HAL 50.84, MRO 54.29, NBL 99.09, UPL 50.91, VRSN 37.60, NFLX 248.98, HON 60.12, FDX 96.60, JWN 47.38, FLIR 35.41, CBI 42.59. Double bottoms are ARMH 31.43, KLAC 48.19, MSCC 22.94, NVLS 37.70, AAPL 354.42 (earnings beat after close), EXPD 55.21. Double bottom with handles are TROW 68.69 (reports Thursday), R 52.16, AMZN 188.36, IBN 51.60, BBD 21.44. 3 week tight patterns are WCRX 24.43, VIAB 47.97, WAT 90.33, DD 56.62, ACN 57.02. Cup bases are QCOM 59.44 (earnings beat after close), ABV 32.10, ABX 55.82, RKT 74.36. Flat bases are WMB 31.99, SWK 77.57, SBUX 38.31. Stocks that cleraed buy ponts today were, ALTR cleared a 44.47 cup with handle buy point. IL cleared a 30.41 cup base. DHR cleared a 53.11 flat base buy point (earnings Thursday). VMW screamed past a 91.78 double bottom base on solid earnings. EMC cleared a 27.69 flat base buy point on earnings as well. TDC cleared a 51.47 buy point in a 3 weeks tight patter. RHT RAX both cleared buy points Thursday only to finish just below them. COH cleared a 56.81 double bottom buy point, but volume did not meet the 40% greater than daily average volume to qualify as a legitimate breakout.
Stocks that can be purchased as they reclaim their 50 day MAs and their buy stop spots are ACI 34.25, DVN 89.50, NOV 79.25, OXY 101.75, SLB 90.25, SU 45.10, AGU 92.35, CY 20.25 (earnings Thursday), MXIM 26.25, TXN 35.50, VSEA 46.60, GSM 22.25, OMC 49.10, EBAY 32.30, ADM 36.30, BWA 76.45, VALE 33.75. Stocks that retook their 50 day MAs Thursday were FCX ROSE MT GR YUM CMCSA ALV CMI F APA APC CLR FTI PXD TCK JOYG AGCO DE AVT TTMI ATML AVGO MSCC HOT UTX CNI. Stocks near 50 day support were SGY 30, CBE 64.25, MTW 20.30, HS 37, VPHM 18.55, CBS 23.90, CLF 94, PAY 50.50. IO IBM PAAS all found 50 day support today.
Stocks near 200 day support are SUN 39.40, JBL 17, RVBD 30.10, X 50.55, AMX 55. Buy stops can be placed on the following stocks as they retake their 200 day MAs. GOLD 88.50, HMC 37.40. Stocks that hit 200 day resistance Thursday were BRCM GOLD MS HMC. AMT reclaimed its 200 day today. Stocks that can be shorted into 200 day resistance are CRUS 18, NKE 81, MS 27, RIMM 56.50.
Stocks that cna be shorted as they hit 50 day resistance are HES 82.25, MDR 24, VLO here, WFT 22.10, WY 24. Place a sell stop on EXXI at 32.80 if it pierces its 50 day MA on the downside. Stocks that encountered 50 day resistance today were CXO BEXP MDR CHK DV NOV OXY VLO POT APH ARBA BMC UPS BWA PAG AEM. CSX had an ugly downside reversai after an earnings miss. Looks like its long term uptrend line is going to be shaky from here on out short term. Relative weakness was seen today by SUN WLT MTW AGU MOS POT CCL LL TYC URI MCP MOBI UNP CSX IRM BUD SLW.
Good luck.
We bought FCX back at 53.89 around 10am, after it pulled back from a dollar higher from where we bought it. Did find 50 day support although it did close upon its lows for the day.
The author owns TTM RAX F FCX.
Stocks near specific buy points are: Cup with handles include BHI 75.20, XOM 88.33, HAL 50.84, MRO 54.29, NBL 99.09, UPL 50.91, VRSN 37.60, NFLX 248.98, HON 60.12, FDX 96.60, JWN 47.38, FLIR 35.41, CBI 42.59. Double bottoms are ARMH 31.43, KLAC 48.19, MSCC 22.94, NVLS 37.70, AAPL 354.42 (earnings beat after close), EXPD 55.21. Double bottom with handles are TROW 68.69 (reports Thursday), R 52.16, AMZN 188.36, IBN 51.60, BBD 21.44. 3 week tight patterns are WCRX 24.43, VIAB 47.97, WAT 90.33, DD 56.62, ACN 57.02. Cup bases are QCOM 59.44 (earnings beat after close), ABV 32.10, ABX 55.82, RKT 74.36. Flat bases are WMB 31.99, SWK 77.57, SBUX 38.31. Stocks that cleraed buy ponts today were, ALTR cleared a 44.47 cup with handle buy point. IL cleared a 30.41 cup base. DHR cleared a 53.11 flat base buy point (earnings Thursday). VMW screamed past a 91.78 double bottom base on solid earnings. EMC cleared a 27.69 flat base buy point on earnings as well. TDC cleared a 51.47 buy point in a 3 weeks tight patter. RHT RAX both cleared buy points Thursday only to finish just below them. COH cleared a 56.81 double bottom buy point, but volume did not meet the 40% greater than daily average volume to qualify as a legitimate breakout.
Stocks that can be purchased as they reclaim their 50 day MAs and their buy stop spots are ACI 34.25, DVN 89.50, NOV 79.25, OXY 101.75, SLB 90.25, SU 45.10, AGU 92.35, CY 20.25 (earnings Thursday), MXIM 26.25, TXN 35.50, VSEA 46.60, GSM 22.25, OMC 49.10, EBAY 32.30, ADM 36.30, BWA 76.45, VALE 33.75. Stocks that retook their 50 day MAs Thursday were FCX ROSE MT GR YUM CMCSA ALV CMI F APA APC CLR FTI PXD TCK JOYG AGCO DE AVT TTMI ATML AVGO MSCC HOT UTX CNI. Stocks near 50 day support were SGY 30, CBE 64.25, MTW 20.30, HS 37, VPHM 18.55, CBS 23.90, CLF 94, PAY 50.50. IO IBM PAAS all found 50 day support today.
Stocks near 200 day support are SUN 39.40, JBL 17, RVBD 30.10, X 50.55, AMX 55. Buy stops can be placed on the following stocks as they retake their 200 day MAs. GOLD 88.50, HMC 37.40. Stocks that hit 200 day resistance Thursday were BRCM GOLD MS HMC. AMT reclaimed its 200 day today. Stocks that can be shorted into 200 day resistance are CRUS 18, NKE 81, MS 27, RIMM 56.50.
Stocks that cna be shorted as they hit 50 day resistance are HES 82.25, MDR 24, VLO here, WFT 22.10, WY 24. Place a sell stop on EXXI at 32.80 if it pierces its 50 day MA on the downside. Stocks that encountered 50 day resistance today were CXO BEXP MDR CHK DV NOV OXY VLO POT APH ARBA BMC UPS BWA PAG AEM. CSX had an ugly downside reversai after an earnings miss. Looks like its long term uptrend line is going to be shaky from here on out short term. Relative weakness was seen today by SUN WLT MTW AGU MOS POT CCL LL TYC URI MCP MOBI UNP CSX IRM BUD SLW.
Good luck.
We bought FCX back at 53.89 around 10am, after it pulled back from a dollar higher from where we bought it. Did find 50 day support although it did close upon its lows for the day.
The author owns TTM RAX F FCX.
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