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Saturday, December 20, 2008

Free Stock Alerts - Alert HQ for Dec 19, 2008 - 83 BUY signals

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 6800 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 fact that major stock market averages again failed to move decisively above their 50-day moving average shows that investors are still in a cautious mode. There were several developments that should have provided ammunition for a significant move but it just didn't happen. The Fed eased aggressively and signaled it would use all tools available to support markets including buying long-dated treasuries. The White House and Treasury got together and bailed out the automakers with three-month bridge loans. Tech bellwethers Oracle and Research in Motion brought some cheer to the NASDAQ as they announced decent earnings and didn't slash forward guidance. Economic reports were again bad this week with industrial production down and jobless claims continuing at elevated levels though a bit less than the previous week. There was a sense that these numbers could have been a lot worse and there was relief when they weren't.

Against the backdrop of a market that won't go down but won't go up either, we see the number of new BUY signals hanging in at a fairly substantial level. Here is the breakdown for this week:
  • based on daily data, we have 66 BUY signals and 10 SELL signals
  • based on weekly data, we have 17 BUY signals and 2 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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