With 76 stocks up 4% or more on a down day, it was not bad day for long side opportunistic plays. In real serious corrections you will find less than 30 stocks barely managing to eke out 4% gains. Yesterday we had 20 stocks up 8%. So the story continues, pockets of momentum still in play.In real corrections ultimately even the best of breed stocks breakdown or dive in to bases. So if this corrections continue, all momo names will also correct, only thing is they will have relatively weaker correction. Considering the way yesterday shaped up, I am of the opinion we might see more downside after brief rally attempts.
With a reflex bounce a high probability, it may not be bad time to look at the long side opportunities, you may not want to rush in to them however .Playing the bounce game is still for nimble swing or short duration traders who can keep one hand on exit door. If the market does not act right, one should be able to exit with little loss. The better strategy is to sit out and find opportunities once the 65 day ratio turns.
Bullish IBD 70 plus EPS
There were 30 stocks in this scan yesterday.
AAPL,Apple Inc (Google Yahoo Earnings Chart)
ACA,ACA Capital Holdings Inc (Google Yahoo Earnings Chart)
AGP,Amerigroup (Google Yahoo Earnings Chart)
AXYS,Axsys Technologies (Google Yahoo Earnings Chart)
BIDU,Baidu.com Inc (Google Yahoo Earnings Chart)
BLUD,Immucor Inc (Google Yahoo Earnings Chart)
CMI,Cummins Inc (Google Yahoo Earnings Chart)
DLX,Deluxe Corp (Google Yahoo Earnings Chart)
EICU,Visicu Inc (Google Yahoo Earnings Chart)
FFIV,F5 Networks Inc (Google Yahoo Earnings Chart)
FMR,First Mercury Financial Corp (Google Yahoo Earnings Chart)
GGG,Graco Inc (Google Yahoo Earnings Chart)
HPY,Heartland Payment Systems Inc (Google Yahoo Earnings Chart)
ICLR,Icon Plc Ads (Google Yahoo Earnings Chart)
IFSIA,Interface Inc Cl A (Google Yahoo Earnings Chart)
KEX,Kirby Corp (Google Yahoo Earnings Chart)
MCRI,Monarch Casino & Resort (Google Yahoo Earnings Chart)
OI,Owens Illinois Inc (Google Yahoo Earnings Chart)
OMTR,Omniture Inc (Google Yahoo Earnings Chart)
PCCC,Pc Connection Inc (Google Yahoo Earnings Chart)
PSYS,Psychiatric Solutions Inc (Google Yahoo Earnings Chart)
RVBD,Riverbed Technologies Inc (Google Yahoo Earnings Chart)
STRA,Strayer Education Inc (Google Yahoo Earnings Chart)
TGI,Triumph Group Inc (Google Yahoo Earnings Chart)
TISI,Team Inc (Google Yahoo Earnings Chart)
TNH,Terra Nitrogen Co L.P. (Google Yahoo Earnings Chart)
TYL,Tyler Technologies (Google Yahoo Earnings Chart)
VDSI,Vasco Data Security Intl (Google Yahoo Earnings Chart)
VIGN,Vignette Corporation (Google Yahoo Earnings Chart)
WFR,Memc Electronic Material (Google Yahoo Earnings Chart)
Out of these stocks to watch are:
MCRI, KEX, BLUD, FFIV, ICLR, VIGN, AGP, HPY, WFR, FMR, OMTR, GGG, DLX, PSYS, AND TNH
Bullish Double Trouble
13 stocks in this scan.
AAPL,Apple Inc (Google Yahoo Earnings Chart)
BIDU,Baidu.com Inc (Google Yahoo Earnings Chart)
CMI,Cummins Inc (Google Yahoo Earnings Chart)
DLX,Deluxe Corp (Google Yahoo Earnings Chart)
FFIV,F5 Networks Inc (Google Yahoo Earnings Chart)
GGL,Goodman Global Inc (Google Yahoo Earnings Chart)
OI,Owens Illinois Inc (Google Yahoo Earnings Chart)
OMTR,Omniture Inc (Google Yahoo Earnings Chart)
RVBD,Riverbed Technologies Inc (Google Yahoo Earnings Chart)
SQNM,Sequenom Inc (Google Yahoo Earnings Chart)
TNH,Terra Nitrogen Co L.P. (Google Yahoo Earnings Chart)
VDSI,Vasco Data Security Intl (Google Yahoo Earnings Chart)
WFR,Memc Electronic Material (Google Yahoo Earnings Chart)
Out of this possible buys are:
FFIV, TNH, WFR, DLX, OMTR
Bullish Multi Year Leaders
10 stocks in this list. This is the list to watch closely.
AAPL,Apple Inc (Google Yahoo Earnings Chart)
CMI,Cummins Inc (Google Yahoo Earnings Chart)
FFIV,F5 Networks Inc (Google Yahoo Earnings Chart)
ICLR,Icon Plc Ads (Google Yahoo Earnings Chart)
IFSIA,Interface Inc Cl A (Google Yahoo Earnings Chart)
TGI,Triumph Group Inc (Google Yahoo Earnings Chart)
TISI,Team Inc (Google Yahoo Earnings Chart)
TNH,Terra Nitrogen Co L.P. (Google Yahoo Earnings Chart)
VDSI,Vasco Data Security Intl (Google Yahoo Earnings Chart)
WFR,Memc Electronic Material (Google Yahoo Earnings Chart)
Out of this possible buys are:
FFIV, ICLR, WFR, TNH
Bullish 2 year IPO
These stocks take worst beatings during market corrections. The charts will look horrible. But many rally leaders come from such neglected stocks once a new bull leg starts.
ACA,ACA Capital Holdings Inc (Google Yahoo Earnings Chart)
ADH,Adherex Technologies Inc (Google Yahoo Earnings Chart)
BIDU,Baidu.com Inc (Google Yahoo Earnings Chart)
DUG,ProShares UltraShort Oil & Gas ETF (Google Yahoo Earnings Chart)
DVW,Covad Communications Group Inc (Google Yahoo Earnings Chart)
EBI,Evergreen International Balanced Income Fund (Google Yahoo Earnings Chart)
EICU,Visicu Inc (Google Yahoo Earnings Chart)
FACE,Physicians Formula Holdings (Google Yahoo Earnings Chart)
FMR,First Mercury Financial Corp (Google Yahoo Earnings Chart)
GGL,Goodman Global Inc (Google Yahoo Earnings Chart)
HBI,Hanesbrand Inc (Google Yahoo Earnings Chart)
HPY,Heartland Payment Systems Inc (Google Yahoo Earnings Chart)
IKAN,Ikanos Communications (Google Yahoo Earnings Chart)
KAD,Arcadia Resources Inc (Google Yahoo Earnings Chart)
KOG,Kodiak Oil & Gas Corp (Google Yahoo Earnings Chart)
MZZ,ProShares UltraShort MidCap400 ETF (Google Yahoo Earnings Chart)
OMTR,Omniture Inc (Google Yahoo Earnings Chart)
OPX,Opteum Inc (Google Yahoo Earnings Chart)
RVBD,Riverbed Technologies Inc (Google Yahoo Earnings Chart)
SDD,ProShares UltraShort Smallcap 600 ETF (Google Yahoo Earnings Chart)
SDS,ProShares UltraShort S&P500 ETF (Google Yahoo Earnings Chart)
SJH,ProShares UltraShort Russell 2000 Value ETF (Google Yahoo Earnings Chart)
SKF,ProShares UltraShort Financials ETF (Google Yahoo Earnings Chart)
SKK,ProShares UltraShort Russell 2000 Growth (Google Yahoo Earnings Chart)
THLD,Threshold Pharmaceuticals (Google Yahoo Earnings Chart)
TWM,ProShares UltraShort Russell 2000 ETF (Google Yahoo Earnings Chart)
Out of these stocks to consider are:
OMTR, FMR, IKAN, HPY AND HBI
Bullish Distressed Stocks
5 stocks in this scan today.
FBR,Friedman Billings Ramsey (Google Yahoo Earnings Chart)
FMTI,Forbes Medi-Tech Inc (Google Yahoo Earnings Chart)
HZO,Marinemax Inc (Google Yahoo Earnings Chart)
NLS,Nautilus Group Inc (the) (Google Yahoo Earnings Chart)
WHI,W Holding Company (Google Yahoo Earnings Chart)
Stocks worth investigating out of these are: FBR and HZO
The markets are at a stage where fresh shorts may not be the best option as such panic often lead to reflex bounces. Best short opportunities will be of weak rallies post such bounce. So I am not going to do second part of this.
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