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Wednesday, April 8, 2009

Mid-week update - new Swing Signals for Apr 7, 2009

This post is to announce a mid-week batch of new swing trading signals at the TradeRadar Alert HQ Swing Signals page.

With the last couple of days resulting in declines in major averages, we have generated predominately SELL signals.

Our system looks for those stocks and ETFs that have exceeded their upper or lower Bollinger Bands and then have moved back inside the Bollinger Band envelope by a certain amount. Our interpretation is that there is a reversal underway and a short-term trading opportunity has presented itself.

Today we have 76 swing trading signals. After stocks turned in such a strong run-up during the last month, we are starting to see some exhaustion and the SELL signals are continuing to greatly outnumber the BUY signals. On the other hand, after such a big rally, there are many fewer stocks that are anywhere near their lower Bollinger Band so that is tending to keep the BUY signals to a minimum as well.

In any case, to see today's list you can check out the TradeRadar Swing Signals page. All 76 stocks are listed, plus we provide a free download in the form of a CSV text file which can be easily opened in Excel or any text editor. In addition to the signal and the stock symbol, we also provide some basic fundamental data to help you select the stocks that are of most interest to you.

For a more detailed explanation of how the system works, click on the label at the bottom of this post.

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