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Thursday, October 8, 2009

Thursday Swing Signals, Trend Busters, Trend Leaders and Gap Signals for Oct 8, 2009

This post is announcing that Thursday's Swing Signals, Trend Leaders, Trend Busters and Gap Signals are now available at Alert HQ. All are based on daily data.

Today we have the following:
  • 88 Swing Signals -- 85 BUY signals and 3 SELL Signals.
  • 306 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 147 stocks that are new additions to the list and 25 that fell off the previous list.
  • 40 Trend Busters of which 33 are BUY signals and 7 are SELL signals.
  • 229 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed.
The view from Alert HQ --

On Tuesday I looked at the day's Alert HQ signals and dared to predict new highs were on the way. Here we are on Thursday and all I can say is "so far, so good."

Our signals at Alert HQ have stayed bullish. Our Swing Trading Signals list is shorter today than on Tuesday but the BUY signals still way outnumber the SELL signals. The Trend Leaders list is expanding again. There are more upside breakouts on the Trend Busters list than downside breakouts. Even our list of Gaps is leaning bullish.

Earnings season is here and there haven't been any nasty surprises. Alcoa actually kicked off the "silly season" as some analysts call it by beating Wall Street expectations and that has set a hopeful tone.

So after registering gains four days in a row, markets are probably ready for a breather. If our signals are truly pointing to higher prices, and I think they are, it might be "buy the dip" time again.

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 or Gap Signals may provide some good trading ideas.

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