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Antichartjunk's Week 16 Update
http://antichartjunk.com/2012/04/16/week-16/
Buy or Sell: Sell
Long into Week 16: ISRG (short term into Tuesday ER)
Add to watchlist as initial or secondary buys, but do not buy until market shows buy signals:
BIDU ? 142.59 to 149.72
FUL ? 31.72 to 33.31
MELI ? 103.08 to 108.23
SAVE ? 20.76 to 21.80
TDG ? 118.31 to 124.23
TNGO ? 20 to 21
TRIP ? 35.02 to 36.77
VMW ? 111.53 to 117.11 (note 5 year chart)
UA ? 99.20 to 104.16
Add to watchlist as secondary buys only, but do not buy until market shows buy signals:
AAPL ? bounce from 50-day
ALXN ? bounce from 50-day
BWLD ? bounce from 50-day
CF ? bounce from 50-day
CLR ? bounce from 50-day
GNC ? 33.80
HLF ? bounce from 50-day
KORS ? bounce from 50-day
LULU ? bounce from 50-day
MELI ? bounce from 50-day
QCOR ? bounce from 50-day
RAX ? bounce from 50-day
SWI ? bounce from 50-day
VFC ? 150.1
VRX ? 55.69
And dozens of other quality stocks at their 50-day moving average (or 10-week moving average), but remember now is a risky time to be buying
?Chartjunk refers to all visual elements in charts and graphs that are not necessary to comprehend the information represented on the graph, or that distract the viewer from this information.?- as defined by Wikipedia and Edward R. Tufte
Antichartjunk
http://antichartjunk.com
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Default BUY - St. Jude ticker STJ
I've bought some STJ recently and just wanted to bring it to your attention. Might want to get a Value Line report and look into it.
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Barchart.com's Chart of the Day - Liquidity Services (LQDT)
Barchart.com's Chart of the Day - Liquidity Services (LQDT) for Apr 16, 2012
The "Chart of the Day" is Liquidity Services (LQDT), which showed up on Friday's Barchart "All-Time High" list. Liquidity Services on Friday posted a new all-time high of $51.91 and closed up 1.52%. TrendSpotter just turned long again on April 5 at $49.36 after taking a profit on a 2-month trade during February and March. Liquidity Services was last featured by "Chart of the Day" on the close of Sep 28, 2011 when the stock was at $34.85. In recent news on the stock, Stifel Nicolaus on April 10 reiterated its Buy rating and raised its target to $59 from $47. Oppenheimber on April 9 reiterated its Outperform rating and raised its target to $57 from $43. Liquidity Services, with a market cap of $1.5 billion, is a leading online auction marketplace for wholesale, surplus and salvage assets.
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Thumbs up Cummins (CMI) - Quick Takes Pro Chart of the Day
April 16, 2012 - Cummins (CMI)
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Dave Landry's Market in a Minute - Monday, 4/16/12
Random Thoughts
Lately, I've been saying that a few big up days would make all the difference in the world. Unfortunately, the converse is true when the market is at an inflection point.
Friday certainly scores as a bummer. It has the Ps & Quack setting up as "micro" First Thrusts. It also has the Rusty set up as a Bowtie down.
I hope these patterns don't work this time.
It's not end of the world. It is important that the indices follow through to the upside soon to negate the above.
So, what do we do? The plan still remains the same with the exception that #2 is even more important during times like these.
For now, the plan remains the same:
1) Honor your stops on existing positions just in case this turns into something bigger.
2) Be selective on new positions. Trade the best and leave the rest.
3) Wait for entries on new positions. Again, as I preach, this can often keep you out of new trouble.
One more thing, don't make any big picture decisions. If the market begins to roll over, there should be plenty of time to get short.
There's no need to be a hero.
Futures are firm pre-market.
Click here to watch today's Market in a Minute.
Best of luck with your trading today!
Dave
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How to Boost Your Returns With ONE Secret ETF Strategy
"How to Boost Your Returns With ONE Secret ETF Strategy"
Free Webinar Recorded on Tuesday, December 3rd at 8:00 PM EST (New York Time)
In this free online class John Carter will share with you:
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There are 9 reasons why you SHOULD trade options on ETFs... and they're in this video
There are 9 reasons why you SHOULD trade options on ETFs...and they're in this video...
9 Reasons to trade Options on ETFs
You'll learn from John Carter...
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