Selloff was not a surprise

Sell offs like what we are witnessing consists of clustered days with extreme weakness. So there might be few more ugly days. Then the market will stabilise again. The sellers exhaust themselves at some stage.

Panicky sell offs like the current ones have higher probability of rebound moves. Slow methodical sell offs are different in their behaviour.

Market Monitor
Total 4% plus bullish breakouts=34
Total 4% plus bearish breakouts=439
65 day bullish/bearish ratio= 535/424
Stocks up 50% or more in a month=6
Stocks up 25% or more in a month=39
Number of stocks with 100% plus move =275
Number of stocks up 200% or more = 55
4% plus signals for 100plus universe=9
4% plus signals for 200plus universe=1

Select stocks which had 100% plus move in last 260 days from the low and which are up more than 4% on higher volume. Today's minimum volume is above 100000.

ADST,Adstar Inc (Google  Yahoo  Earnings  Chart)
BDSI,Biodelivery Sciences Intl Inc (Google  Yahoo  Earnings  Chart)
DSTI,Daystar Technologies Inc (Google  Yahoo  Earnings  Chart)
JAS,Jo-ann Stores Inc (Google  Yahoo  Earnings  Chart)
JAV,Javelin Pharmaceuticals Inc (Google  Yahoo  Earnings  Chart)
PRGX,Prg-schultz Intl Inc (Google  Yahoo  Earnings  Chart)
RGR,Sturm Ruger & Co Inc (Google  Yahoo  Earnings  Chart)
SWHC,Smith & Wesson Hldg Corp (Google  Yahoo  Earnings  Chart)
WAVX,Wave Systems Corp Cl A (Google  Yahoo  Earnings  Chart)

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3 comments:

Unknown said...: I went to lunch with one of my vendors and when I got back to my desk the DOW was down 200pts and I was stopped out of a couple of my favorite stocks. I do have a defensive play working but not enough leverage. I'm thinking I will sit this one out and wait for lower prices. Looks like that is the path of least resistance.; Mar 13, 2007, 9:11:00 PM
markatkar said...: Pradeep:
What stocks are worth looking at, with large Indian exposure and (Indian) ADRs which can withstand the current hiccup? Thanks in advance.; Mar 14, 2007, 10:13:00 AM
Pradeep Bonde said...: Gary
A better opportunity on long side should present in few weeks or months. Panic selling always leadsto rebound.

Markatkar
None of the Indian adr's currently have the relative strength necessary to rebound vigorously.; Mar 14, 2007, 10:43:00 AM

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