Large cap dominate

Large caps is where the action was yesterday. Nasdaq had a high volume churn. The number of breakouts is below 100 , indicating lack of buying. Number of recent breakouts from 100% plus list have failed after 2 or 3 days, which is a troubling sign.

Market Monitor

Total 4% plus bullish breakouts = 87

Total 4% plus bearish breakouts = 53

65 day bullish/bearish ratio = 942/230

Stocks up 50% or more in a month = 9

Stocks up 25% or more in a month = 91

Number of stocks with 100% plus move = 427

Number of stocks up 200% or more = 91

4% plus signals for 100plus universe = 17

4% plus signals for 200plus universe = 4

4% plus moves on 100%plus movers.

ALAN,Alanco Technologies (Google Yahoo Earnings Chart)
AVNR,Avanir Pharmaceuticals (Google Yahoo Earnings Chart)
AVRX,Avalon Pharmaceuticals Inc (Google Yahoo Earnings Chart)
CBRX,Columbia Laboratories (Google Yahoo Earnings Chart)
CHB,Champion Enterprises Inc (Google Yahoo Earnings Chart)
CLN,Celsion Corp (Google Yahoo Earnings Chart)
CNH,Cnh Global Nv (Google Yahoo Earnings Chart)
COR,Cortex Pharmaceuticals Inc (Google Yahoo Earnings Chart)
DNE,Dune Energy Inc (Google Yahoo Earnings Chart)
IDMI,IDM Pharma Inc (Google Yahoo Earnings Chart)
JADE,Lj Internat Inc (Google Yahoo Earnings Chart)
LTS,Ladenburg Thalmann Finl (Google Yahoo Earnings Chart)
OMG,Om Group Inc (Google Yahoo Earnings Chart)
PAE,Peace Arch Entmt Grp Inc (Google Yahoo Earnings Chart)
RNIN,Wireless Ronin Technologies Inc (Google Yahoo Earnings Chart)
RZ,Raser Technologies Inc (Google Yahoo Earnings Chart)
XOMA,Xoma Ltd (Google Yahoo Earnings Chart)

Possible longs:

News play like AVNR are best bought as early as possible because bulk of their move happens on the day of the news. Plus it has 38 million float. The Biotechs have done well recently, so now every news in the industry is being bid up.

AVNR,Avanir Pharmaceuticals (Google Yahoo Earnings Chart)
CNH,Cnh Global Nv (Google Yahoo Earnings Chart)

Episodic Pivots:

AVNR,Avanir Pharmaceuticals (Google Yahoo Earnings Chart)
BBND,Bigband Networks Inc (Google Yahoo Earnings Chart)
JADE,Lj Internat Inc (Google Yahoo Earnings Chart)
LMIA,Lmi Aerospace Inc (Google Yahoo Earnings Chart)
NFLD,Northfield Laboratories (Google Yahoo Earnings Chart)
OSG,Overseas Shipholding Grp (Google Yahoo Earnings Chart)
TRMS,Trimeris Inc (Google Yahoo Earnings Chart)

The market action is showing lot of divergence and it is not clear at this stage whether this is a pullback or possible reversal on Nasdaq and technology stocks. So I have reduced exposure, but earnings lead opportunities will work irrespective of market conditions. Any serious deterioration in market is most likely to be post earning or mid way through earnings, once earnings trend become more clear.

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2 comments:

mgold said...: As a newbie...Can you explain to me what a 'signal' is. I had went to barcharts.com and noticed a section on Signals and stocks in the top 1%....but I did not understand. Thanks!; Apr 19, 2007, 8:35:00 AM
Pradeep Bonde said...: If you are complete newbie, I suggest you go through the FAQ and Learning center at Barchart.
The signals on barchart are derived using a combination of ADX, Moving Average vs Price,MACD Oscillator , and Bollinger Bands.; Apr 19, 2007, 9:32:00 AM

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