Skip to main content

Stocks plunge, sort of -- Alert HQ signals for Thursday, May 6, 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:

  • 15 Swing Signals -- 2 BUY signals and 12 SELL Signals and one Strong BUY.
  • 44 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 5 stocks that are new additions to the list and 166 that fell off the previous list.
  • 174 Trend Busters of which 2 are BUY signals and 172 are SELL signals.
  • 195 Gap Signals -- stocks with upside or downside gaps or gaps that have been closed. 152 are bearish gaps and 43 are bullish gaps.
The view from Alert HQ --


A merely crummy day turned into a rout as stocks suddenly plunged in the afternoon. Intraday, the S&P 500 was down as much as 8.6%. Hard to believe that one could breathe a sigh of relief when stocks ended the day down only around 3.25% .

Combine today's horrible market action with a pullback now registering a roughly 7.5% decline from recent highs and it's no surprise to see Alert HQ piling up the SELL signals. The Trend Leaders list just hit a new low, not by a little but by a lot. On the other hand, the Trend Busters list has hit an all time high; unfortunately all but two are downside breakouts. Likewise, on the Gap Analysis list the downside gaps greatly outnumber upside gaps, a situation we don't usually see, even when the market is down.

Not every stock was down, though. To my amazement, there was a strong BUY on the Swing Signals list: Lihir Gold (LIHR). The company is apparently in the process of being bought by another Australian mining company, Newcrest. The combination will create the fourth largest gold mining operation in the world. Gold in general was up today so it looks like LIHR was going with the flow.

So Alert HQ is a playground for bears today but stay tuned -- when things start to turn around, the first signals will be right here.

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.
Labels:

Comments

Post a Comment

Popular posts from this blog

Brazil - in a bubble or on a roll?

A couple of years ago, no one recognized the real estate bubble even though it was under everyone's nose. Now, analysts and bloggers are seeing bubbles everywhere they look. One of them, they say is in Brazil whose Bovespa stock market index has doubled in the last 12 months. Does the bubble accusation hold water? I don't think so and here are 7 reasons why Brazil is by no means a bubble economy: Exports have held up over the past year thanks to demand from China for Brazil's soya exports and iron ore. This was helped by the the Brazilian government's drive to improve trade links with Asia and Africa. Export diversification, spurred by a more active trade policy and increased focus on "south-south" trade under current president Lula, helped mitigate the decline in demand from OECD (Organization for Economic Co-operation and Development) countries A "sensible" economic framework has been in place since the 1990's. This has included inflation
4 comments
Read more

Trade Radar gets another update

Some of our data sources changed again and it impacted our ability to load fundamental/financial data. In response, we are rolling out a new version of the software: 7.1.24 The data sourcing issues are fixed and some dead links in the Chart menu were removed. So whether you are a registered user or someone engaged in the free trial, head over to our update page and download the latest version. The update page is here:   https://tradingstockalerts.com/software/downloadpatch Contact us if you have questions or identify any new issues.
Post a Comment
Read more

Unlock Stock Market Profits - Key #1

This is the first in an ongoing series of articles where I discuss what I feel are keys to successful investing. It is based on a post that provides a summary of the ten keys that individual investors should use to identify profitable stock trades. ( Click here to read the original post ) There are two basic steps to investing. First, you need to find stocks that seem to have some potential. Then you have to determine whether these stocks are actually good investments. There are many stocks that at first glance look interesting, but further research reveals that there are too many negatives to warrant taking a position. This first post in the series starts at the beginning: getting good investment ideas. Key #1: If something special is happening to a stock, it will be reflected in some kind of unusual activity in the markets. As individual investors, we will never be the first to know; however, unusual activity can be an early sign that allows us to follow the Wall Street professional
2 comments
Read more