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Tuesday, August 4, 2009

Saved by the bell Tuesday - Swing Signals, Trend Busters and Trend Leaders for August 4, 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:
  • 33 Swing Signals -- 13 BUY signals and 20 SELL Signals.
  • 1286 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 358 stocks that are new additions to the list and 120 that fell off the previous list.
  • 13 Trend Busters of which 8 are BUY signals and 5 are SELL signals.
Saved by the bell on an up-down-up Tuesday --

Major averages managed to end in the green today after starting the day with weakness, rallying to show strength through mid-day and then swooning only to exhibit a "stick-save" in the last half hour of trading. It looks like investors are expecting a pullback but are still feeling bullish. In other words, we have a market of two minds.

The results at Alert HQ are equally schizophrenic. The number of stocks on our list of Trend Leaders just keeps pushing higher and now sits at almost 1300. Yet our Swing Signals are tilting slightly to the bearish side as SELL signals outnumber BUY signals. As seems to usually be the case, our Trend Busters straddle the fence though today they show a small bias to the bullish side.

Again we are seeing a combination of bullishness and hesitation in our signals. Volume is certainly less than overwhelming though stocks continue to climb. By typical measures, most sectors and many stocks are over-bought. In my heart I know stocks are due for a correction but I keep wondering if they will defy conventional expectations as they have so often during the last year and a half. I look to the Swing Signals as the early warning system. When that list grows and SELL signals clearly outnumber BUY signals, we'll know the pull-back has arrived. For now, though, the list is somewhat short and I'm not sure we should read too much into it. Traders can hang onto those long positions for a few days more...

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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