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Thursday, May 13, 2010

Alert HQ signals for Thursday, May 13, 2010

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:
  • 74 Swing Signals -- 74 BUY signals and absolutely no SELL Signals!
  • 65 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 43 stocks that are new additions to the list and 9 that fell off the previous list.
  • 30 Trend Busters of which 22 are BUY signals and 8 are SELL signals.
  • 277 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed. 68 are bearish gaps and 209 are bullish gaps.
The view from Alert HQ --

Despite the late day sell-off, Alert HQ signals look pretty darn bullish. Though numbers are within more normal ranges, it is significant that for the second time ever we see all BUY signals and no SELL signals on the Swing Trading Signals list. BUY signals outnumber SELL signals on the Trend Busters and Gap Analysis lists. The only negative sign is that the Trend Leaders list, though almost double what we had earlier in the week, is still at an extreme low.

What we seem to be seeing is a wave of stocks rebounding from last week's sudden plunge and attaining more reasonable levels. What we are also seeing is that the broad market has yet to truly repair the damage that was sustained last week.

It would be nice to be unabashedly bullish right now but the slowness with which the Trend Leaders list is recovering, combined with stocks being pummeled in Asia as I write this post, leads me to continue to counsel caution.

Though I still believe this downturn is a buying opportunity, I also feel that stocks will need to take a little time to pull themselves out the funk that seems to have seized investors suddenly. Keep looking to Alert HQ for the early signs that stocks are recovering. Confirmation from the Trend Leaders list will be an important "tell".

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.

Found a few stock picks you are interested in? If you are looking to refine your entry and exit points, you should take a look at what our friends at Hottinger's E-Zone Signals have to offer.

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