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Tuesday, December 8, 2009

Tuesday Swing Signals, Trend Leaders, Trend Busters and Gaps for Dec 8, 2009


This post is announcing that Tuesday'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:
  • 20 Swing Signals -- 12 BUY signals and 8 SELL Signals.
  • 282 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 98 stocks that are new additions to the list and 76 that fell off the previous list.
  • 38 Trend Busters of which 35 are BUY signals and 3 are SELL signals.
  • 161 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed. 76 are bearish gaps and 85 are bullish gaps.
The view from Alert HQ --

I hate writing about days like today.

Stocks were down for no particular reason and the drop was sizable. The major averages all closed below their 20-day moving averages except for the Russell 2000 which, after lagging the other indexes, is now hanging in there better than the rest.

Despite today's losses and Monday's losses, too, stocks in general have not really rolled over. Some will say they are seeing double tops in the major indexes but my own suspicion is that we are stuck in a range for a while.

Our Alert HQ signals reflect the lack of clarity with respect to the current trend though perhaps they show a slight bias to the bullish side. We still have more BUY signals than SELL signals but the Trend Leaders list just can't seem to expand past the range around 280. That is quite low and indicates a market where stocks are treading water.

So once again we are seeing some of the leveraged inverse ETFs giving us BUY signals on the Trend Busters list (brief list: BZQ, DPK, DRR, EDZ, EEV, EFU, EPV, EUO). More importantly, however, we don't see ETFs representing the underlying indexes generating SELL signals. This says to me that the usual volatility is playing out but there is no reason to panic yet.

On the contrary, we see more stocks being added to the Trend Leaders list than are falling off so there is still some strength out there and perhaps some rotation. I'm seeing some tech (Cypress Semiconductor, KLA-Tencor, Anadigics, Rambus and Ametek to name a few), some biotech and even some REITs.

The point is, markets are weakening but the major averages have not even reached their lower Bollinger Band yet. Another day or two of weakness, and it might very well be time to put on some trades from the long side. Remember Alert HQ when you're looking for promising candidates.

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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