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Tuesday, July 7, 2009

Terrible Tuesday - Swing Signals, Trend Busters and Trend Leaders for July 7, 2009

This is a quick post to announce that Tuesday's Swing Signals, Trend Leaders and Trend Busters are now available at Alert HQ. All are based on daily data.

Today we have the following:
  • 35 Swing Signals -- 17 BUY signals and 16 SELL Signals plus 2 Strong BUYs.
  • 98 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 22 stocks that are new additions to the list and 120 that fell off the previous list.
  • 40 Trend Busters of which only 9 are BUY signals and 31 are SELL signals.
After last week's sell-off, a terrible Tuesday leaves stocks broadly lower --

Well, today resulted in another shrunken list of Trend Leaders. On the weekend we had 157 stocks and ETFs on the list; after today we're down to 98. Whereas a few weeks ago there were around a thousand, lately we are bouncing around in the one to two hundred range.

Similarly, our Trend Busters list reflects similar weakness as the breakouts to the downside outnumber the breakouts to the upside by roughly three to one.

Our Swing Signals list is about evenly divided between BUY signals and SELL signals but the list is none too long. These last few days there has been no where to hide.

With the trends in the major market averages pointing downward now, it's no surprise that our BUY signals are missing in action. As we approach significant support levels, another couple of bad days and investors might really start running for the exits. My recommendation is that you have your stops in place and maybe a couple of short plays in mind. This could be a time when some of our SELL signals will come in handy. We shall see...

Using our signals --

If you're a momentum trader, the Trend Leaders list is a good place to go shopping. If you practice technical analysis, check out the Trend Busters. And if you are a short-term trader or even a day trader, our Swing Signals may provide some good trading ideas.

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