Alert HQ for the week ending August 1, 2008

This post is to announce that the latest list of stock alerts is up and available at Alert HQ. Each week we scan over 7200 stocks and ETFs looking for fresh BUY and SELL signals. We apply a combination of proprietary and standard technical analysis techniques to identify those stocks that are beginning to move.

Markets were somewhat mixed this week with the Dow down a bit, the NASDAQ flat and the S&P 500 and Russell 2000 up a bit. Nevertheless, this week's action saw stocks advance sufficiently to continue the trend we saw last week where BUY signals outnumbered SELL signals. Based on daily data we have 63 BUY signals and only 4 SELL signals to offer this week

When it comes to signals based on weekly data, however, we see BUY signals and SELL signals running neck and neck: 29 BUY signals and 30 SELL signals.

Despite the good number of BUY signals based on daily data, major market averages seem to be struggling to overcome resistance. If that resistance is indeed overcome, we should see a nice rally ensue. Use Alert HQ to build your watchlist and be ready to take action.

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