End of day fade | stockbee

8/08/2012

End of day fade

For 2 days in a row we had end of day fades . That is not a good sign.

The underlying breadth is good , but a little more conviction is needed. The action on individual stocks looks attractive. Number of them are breaking out on good volume. The oil and gas stocks have had best month or so .

The international market ETF have found a bid and many of them had huge moves in last 5 days. 

2 comments:

cloudsandskye said...

You've mentioned a few times on your blog that for earnings surprises you don't consider stocks with earnings of less than 5 cents, but it's not clear what you mean by that. Are you referring to the earnings before the surprise, or after?

Pradeep Bonde said...

5 cents refers to earnings per share. So let us say if a stock has earnings per share of 25 cents and hen it has big earnings surprise of say 30 cents that is good. A stock with say 2 cents earnings per share surprising by 3 cents is not a big deal.