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Saturday, November 29, 2008

Free Stock Alerts - Alert HQ for Nov 28, 2008 - the BUY signals are back!

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.

The rally that began Friday afternoon a week ago carried over into this week's trading. Stocks marched steadily higher helped immensely by the government bailout of Citigroup and commitment to purchase $600 billion of Freddie and Fanny mortgage-backed securities. This had the effect of driving down mortgage rates and providing hope for the housing market.

Gains were stunning considering they were obtained in a mere three and a half sessions. The Russell 2000 gained 16.4% while the Dow gained 9.7%. The S&P 500and the Nasdaq were in between with both showing double-digit gains. These gains were all the more surprising given the consistently bad economic data released during the week including bad home sales numbers and durable goods orders that were twice as bad as expected.

Against the backdrop of a suddenly resurgent market, we see the number of BUY signals increasing strongly. Here is the breakdown for this week:
  • based on daily data, we have 90 BUY signals and only 3 SELL signals
  • based on weekly data, we have 8 BUY signals and 4 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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