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Saturday, December 6, 2008

Free Stock Alerts - Alert HQ for Dec 5, 2008 - BUY signals still predominate

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.

We had another run of consistently bad economic data this week spiced with a smattering of stocks that reduced forward guidance. ISM hit record lows, a recession was officially declared, auto sales were beyond disappointment and, to cap it all off, the non-farm payrolls numbers were released on Friday and reported a stunning loss of 533,000 jobs in the previous month. Yet stocks rallied on Friday and managed to limit the week's losses to just a few percent.

Against the backdrop of a market that refuses to stay down, we see the number of BUY signals hanging in at a fairly substantial level. Here is the breakdown for this week:
  • based on daily data, we have 63 BUY signals and only 5 SELL signals
  • based on weekly data, we have 12 BUY signals and 1 SELL signal
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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