Each week we scan about 7300 stocks and ETFs, checking fundamentals, performing technical analysis and looking for fresh BUY and SELL signals. Out of this process we generate the following lists:
- Alert HQ stock alerts - based on a combination of proprietary and standard technical analysis techniques, we identify stocks or ETFs that are undergoing reversals, either to the upside or to the downside
- Trend Leaders - a collection of stocks in strong up-trends
- Cash Flow Kings whose free cash flow yield is 25% or greater
- Bollinger Band Breakouts - stocks or ETFs that have moved at least 3% above their upper Bollinger Band or at least 3% below their lower Bollinger Band
- Swing Signals - stocks that have bounced off a higher or lower Bollinger Band
- Trend Busters - stocks or ETFs that have violated a current trend.
Major averages finished the week with solid gains of well over 2% with the exception of the NASDAQ which only managed a 1.1% gain. What's happening to my favorite index? Again this week, the tech sector lagged financials which were up a whopping 10% and even the beaten down industrials which put in a 5% advance on the week. Things would probably have been even worse for tech if Cisco hadn't come through with a small earnings beat and positive forward guidance.
In other news, manufacturing showed improvement (better than expected ISM) while retail sales didn't. Weekly initial jobless claims showed improvement while continuing claims didn't. Construction spending beat expectations as did pending home sales. The monthly non-farm payroll report showed "only" 247,000 jobs lost which was at least much better than the expected 345,000. More unexpected was the fact that unemployment declined to 9.4% when most economists had anticipated a slight increase.
So on the whole, economic and earnings news were fairly benign this week and though stocks still appeared extremely overbought, investors were willing to push prices up again. Our signals at Alert HQ show the tug of war between bullishness and caution. Though we have no dearth of BUY signals, we have plenty of SELL signals to counterbalance the bullishness.
This week's results --
Here is the detailed breakdown for Alert HQ for this weekend:
- Based on daily data, we have 21 Alert HQ BUY signals and 42 SELL signals
- Based on weekly data, we have 61 Alert HQ BUY signals and 22 SELL signals
- Based on daily data, we have 1230 Trend Leaders. 103 new stocks joined the list since Thursday and 111 fell off the list since Thursday.
- Based on daily data, we have 261 Bollinger Band Breakouts but we also have 653 Breakouts based on weekly data.
- We have 757 Cash Flow Kings
- Based on daily data we have 44 Swing Signals of which 23 are BUY signals and 20 are SELL signals. There is one Strong SELL signal today.
- Finally, we have Trend Busters with 9 signals based on daily data (4 BUY signals and 3 SELL signals) and 32 based on weekly data (24 BUY signals and 8 SELL signals).
Visit Alert HQ and download your free lists of stock alerts. 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.
If you're a momentum trader, the TrendLeaders list is a good place to go shopping. If you have no faith in technical analysis, the Cash Flow Kings may be just what you are looking for. If you do favor 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. See them all at Alert HQ.
Remember, we also provide our latest updated Swing Signals, Trend Leaders and Trend Busters on Tuesday and Thursday nights.