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Saturday, November 22, 2008

Free Stock Alerts - Alert HQ for Nov 21, 2008

This post is to announce that the latest list of free stock alerts is up and available at Alert HQ. Each week we scan over 7200 stocks and ETFs looking for fresh BUY and SELL signals. We apply a combination of proprietary and standard technical analysis techniques to identify those stocks that are beginning to move. Our goal is to identify stocks or ETFs that are undergoing reversals, either to the upside or to the downside.

Stocks broke to new lows this week and despite a big rally on Friday, the losses on the week were severe. Citigroup continued its death spiral, announcing 52,000 layoffs while management failed to forgo bonuses and the stock price cratered. The automakers were unable to convince Congress they had any clue how to turn their businesses around so they got back in their private jets and regally returned to Detroit. Forebodings of problems in commercial real estate and commercial loans caused more fears of write-downs on the way. The Fed released its minutes from the last FOMC meeting and the growth projections for coming quarters were much reduced. This further alarmed investors. Housing numbers were bad, as usual, and initial jobless claims were elevated. Was it any wonder stocks fell?

Against this uncertain and depressing backdrop, we see the number of signals in either direction dwindling still further. Here is the breakdown for this week:
  • based on daily data, we have 2 BUY signals and 15 SELL signals
  • based on weekly data, we have 9 BUY signals and 15 SELL signals
Stop by Alert HQ and download your free lists. The alerts based on weekly data show those stocks that have exhibited some good follow-through after a recent trend reversal. If you want to be early in identifying the newest trend reversals, the lists based on daily data are for you. No matter which preference you have, there are bound to be a few stocks you will want to add to your watch list.

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