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Saturday, November 1, 2008

Free Stock Alerts - Alert HQ for Oct 31, 2008 (BUY signals galore!)

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.

On Monday of this week stocks pretty much hit bottom and from there moved strongly up. The move was rather broad based and, as a result, we generated a good list of stocks exhibiting BUY signals based on the short-term indicators derived from daily data. This may not signal an "all clear" for investors but it does seem to show that stocks have firmed, sentiment has improved (despite a raft of awful economic data released this week) and it may be worthwhile to dip a toe into this market on the long side.

Against this backdrop, we see the signals based on daily data showing the most bullish change while the signals based on weekly data at least show less bearishness. Here is the breakdown for this week:
  • based on daily data, we have 83 BUY signals and no SELL signals at all (!)
  • based on weekly data, we have 5 BUY signals and 25 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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