Market Monitor
UPDATE: Running a bit late today as there was a big accident on approach road to our house, shutting down traffic. I do not see any compelling earnings play barring WYNN, OSIS, TLEO. They are also not very exciting as some of them have rallied in to earnings.
- Market is in holding pattern.
- Volume is decreasing on advance, which is not a good sign
- McClelan Oscillator has 3 declining peaks, indicating correction is close by or in works.
- The 50% plus indicator is stuck below 10, indicating lack of individual stock level momentum.
- Barring the large caps, rest of the stuff is not moving post breakout.
- Current outlook, expect a few days of correction
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6 comments:
Pradeep,
What are the criteria involved in the selection of stocks appearing in the buy signal in your spreadsheet?
4% breakout
low float
low 65day growth
260day growth > 100 etc..
thanks,
Kannan.
All those you mentioned.
Along with WYNN, you have HAYN, MDR, VOLC, OMPI, and NILE up at least over 3% in after hours trading and look to open strong.
The others I have on my list are AFSI, ECLG, HLEX, HLYS, AMT, AAWW, HGR, IIG, RTEC, SYKE, and TLEO which have made no moves since posting earnings. I personally like the first three and will wait to see how they open up.
A question I've been always wondering is the following: there exist an oscillator/indicator/whatever particularly good to anticipate corrections?.
HAYN has turned out to be a nice earning play.
I agree. I bought it also because it was a new issue in a strong group. Wasn't sure until today that it would work (keep fingers crossed still)
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