Market Monitor
- Is the new breakout a trap, we will know this week. It certainly caught the shorts with their pants down.
- The easiest way to figure that will be through the Stocks up 100% or more in 260 days. If there are new highs in that reading we will continue to have good momentum. Currently the number is at highest levels since February, which indicates that we will take out 600 number soon.
- Oil and energy and metal sector seems to be vulnerable to correction here.
- The IBD kind stocks which provide leadership to rallies, continue to rally and continue to witness fresh breakouts. Stocks with 70 plus EPS breaking out:
ACM,Aecom Technology Corporation (Google Yahoo Earnings Chart)
BCSI,Blue Coat Systems Inc (Google Yahoo Earnings Chart)
BTJ,Bolt Technology Corp (Google Yahoo Earnings Chart)
BW,Brush Engineered (Google Yahoo Earnings Chart)
CF,CF Industries Holdings Inc (Google Yahoo Earnings Chart)
CSUN,China Sunergy Co Ltd (Google Yahoo Earnings Chart)
CT,Capital Trust Inc Md (Google Yahoo Earnings Chart)
EDN,Empresa Distribuildora Comer (Google Yahoo Earnings Chart)
IGLD,Internet Gold-Golden (Google Yahoo Earnings Chart)
JEF,Jefferies Group Inc (Google Yahoo Earnings Chart)
POT,Potash Cp Saskatchewan (Google Yahoo Earnings Chart)
QXM,Qiao Xing Mobile Com (Google Yahoo Earnings Chart)
RIMM,Research In Motion Ltd (Google Yahoo Earnings Chart)
SIF,Sifco Industries Inc (Google Yahoo Earnings Chart)
SIGM,Sigma Designs Inc (Google Yahoo Earnings Chart)
SIM,Grupo Simec S.A.B De C.V (Google Yahoo Earnings Chart)
SPEC,Spectrum Control Inc (Google Yahoo Earnings Chart)
TSL,Trina Solar Ltd. (Google Yahoo Earnings Chart)
ZBRA,Zebra Technologies Cp A (Google Yahoo Earnings Chart)
Out of this CT, QXM, ZBRA, JEF, SIM,CSUN and POT are buyable breakouts. - Heavily shorted and distressed stocks are where the action was on Friday. For obvious reason, we are seeing rallies in home builders and other stocks near 52 week lows. Those are easy pickings post such large moves as shorts get scared and nimble market participants looking for quick money smoke out large short positions.
- Stocks near 52 week low witnessing 4 % plus breakout yesterday:
BCRX,Biocryst Pharmaceuticals (Google Yahoo Earnings Chart)
BZH,Beazer Homes Usa (Google Yahoo Earnings Chart)
CTHR,Charles & Colvard Ltd (Google Yahoo Earnings Chart)
CTX,Centex Corp (Google Yahoo Earnings Chart)
HOV,Hovnanian Enterprises A (Google Yahoo Earnings Chart)
LEN.B,Lennar Corp Cl B (Google Yahoo Earnings Chart)
LTON,Linktone Ltd (Google Yahoo Earnings Chart)
MGN,Mines Management Inc (Google Yahoo Earnings Chart)
MHO,M/i Homes Inc (Google Yahoo Earnings Chart)
SPF,Standard Pacific Corp (Google Yahoo Earnings Chart)
Out of this the homebuilders might have more upside. The better trade on them was buying on Friday morning in anticipation. That is the reason, I highlighted that theStreet.com post. - The Double Trouble universe continues to witness number of breakouts. Which clearly shows the momentum is what is working currently. There were 35 breakouts in the Double Trouble universe.
ACOR,Acorda Therapeutics Inc (Google Yahoo Earnings Chart)
AGU,Agrium Inc (Google Yahoo Earnings Chart)
ASTI,Ascent Solar Technologies Inc (Google Yahoo Earnings Chart)
BCSI,Blue Coat Systems Inc (Google Yahoo Earnings Chart)
BTJ,Bolt Technology Corp (Google Yahoo Earnings Chart)
BW,Brush Engineered (Google Yahoo Earnings Chart)
CF,CF Industries Holdings Inc (Google Yahoo Earnings Chart)
CHNR,ChinaNatural Resources (Google Yahoo Earnings Chart)
CLRT,Clarient Inc (Google Yahoo Earnings Chart)
CPHD,Cepheid (Google Yahoo Earnings Chart)
DSTI,Daystar Technologies Inc (Google Yahoo Earnings Chart)
DYN,Dynegy Inc (Google Yahoo Earnings Chart)
FREE,FreeSeas Inc (Google Yahoo Earnings Chart)
IGLD,Internet Gold-Golden (Google Yahoo Earnings Chart)
MVIS,Microvision Inc (Google Yahoo Earnings Chart)
NM,Navios Maritime Holdings Inc (Google Yahoo Earnings Chart)
PAE,Peace Arch Entmt Grp Inc (Google Yahoo Earnings Chart)
PCR,Perini Corp (Google Yahoo Earnings Chart)
PKX,Posco (Google Yahoo Earnings Chart)
POT,Potash Cp Saskatchewan (Google Yahoo Earnings Chart)
QMAR,Quintana Maritime Ltd (Google Yahoo Earnings Chart)
RIMM,Research In Motion Ltd (Google Yahoo Earnings Chart)
RRI,Reliant Energy Inc (Google Yahoo Earnings Chart)
RZ,Raser Technologies Inc (Google Yahoo Earnings Chart)
SGR,Shaw Group Inc (The) (Google Yahoo Earnings Chart)
SIF,Sifco Industries Inc (Google Yahoo Earnings Chart)
SIGM,Sigma Designs Inc (Google Yahoo Earnings Chart)
SPEC,Spectrum Control Inc (Google Yahoo Earnings Chart)
TASR,Taser International Inc (Google Yahoo Earnings Chart)
TBUS,Digital Recorders Inc (Google Yahoo Earnings Chart)
TSL,Trina Solar Ltd. (Google Yahoo Earnings Chart)
TSYS,Telecommunications Systm (Google Yahoo Earnings Chart)
ULTR,Ultrapetrol Ltd (Google Yahoo Earnings Chart)
WRNC,Warnaco Group Inc (the) (Google Yahoo Earnings Chart)
WSCI,Wsi Industries Inc (Google Yahoo Earnings Chart)
Out of this breakout list the buyable breakouts are MVIS, TSYS, CLRT, PAE, ULTR, POT, and DYN - The Episodic Pivot list has 15 opportunities in it.
AUTH,Authentec Inc (Google Yahoo Earnings Chart)
BIDU,Baidu.com Inc (Google Yahoo Earnings Chart)
CF,CF Industries Holdings Inc (Google Yahoo Earnings Chart)
DSTI,Daystar Technologies Inc (Google Yahoo Earnings Chart)
FLE,Fleetwood Enterprises (Google Yahoo Earnings Chart)
FREE,FreeSeas Inc (Google Yahoo Earnings Chart)
GOOG,Google (Google Yahoo Earnings Chart)
HOV,Hovnanian Enterprises A (Google Yahoo Earnings Chart)
PDLI,PDL BioPharma Inc (Google Yahoo Earnings Chart)
PKX,Posco (Google Yahoo Earnings Chart)
RIMM,Research In Motion Ltd (Google Yahoo Earnings Chart)
RZ,Raser Technologies Inc (Google Yahoo Earnings Chart)
SGR,Shaw Group Inc (The) (Google Yahoo Earnings Chart)
SIF,Sifco Industries Inc (Google Yahoo Earnings Chart)
XING,Qiao Xing Univ Telephone (Google Yahoo Earnings Chart)
Out of this if you research further you should be able to find 5-6 good opportunities. - The multi year leaders scan has 14 stocks in it. This scan looks for relative strength on 5, 3, 2, 1 and half year time horizon and selects stock rated in top 25%.
AGU,Agrium Inc (Google Yahoo Earnings Chart)
BTJ,Bolt Technology Corp (Google Yahoo Earnings Chart)
BW,Brush Engineered (Google Yahoo Earnings Chart)
DYN,Dynegy Inc (Google Yahoo Earnings Chart)
IGLD,Internet Gold-Golden (Google Yahoo Earnings Chart)
PAE,Peace Arch Entmt Grp Inc (Google Yahoo Earnings Chart)
PCR,Perini Corp (Google Yahoo Earnings Chart)
PKX,Posco (Google Yahoo Earnings Chart)
POT,Potash Cp Saskatchewan (Google Yahoo Earnings Chart)
RIMM,Research In Motion Ltd (Google Yahoo Earnings Chart)
RRI,Reliant Energy Inc (Google Yahoo Earnings Chart)
SGR,Shaw Group Inc (The) (Google Yahoo Earnings Chart)
SIF,Sifco Industries Inc (Google Yahoo Earnings Chart)
SIGM,Sigma Designs Inc (Google Yahoo Earnings Chart)
Out of this list PAE, POT, DYN, RRI, AGU, SIF, RIMM, might be buyable. - Many of you keep asking for short opportunities. There were total 40 stocks in my short scans. Out of that I have selected handful which might be actionable on short side.
AZZ,Azz Inc (Google Yahoo Earnings Chart)
BHI,Baker Hughes Inc (Google Yahoo Earnings Chart)
CPA,Copa Holdings S.A. (Google Yahoo Earnings Chart)
LDL,Lydall Inc (Google Yahoo Earnings Chart)
LUFK,Lufkin Industries Inc (Google Yahoo Earnings Chart)
MVSN,Macrovision Corp (Google Yahoo Earnings Chart)
REFR,Research Frontiers Inc (Google Yahoo Earnings Chart)
RSH,Radioshack Corp (Google Yahoo Earnings Chart) - These are only some of the best opportunities. Besides this you can look for opportunities in earnings breakout. Plus the Virgin list provides opportunities. Not included in this are strategies which I have co developed with some readers and are not in public domain. Everyday , if you have systematic approach, you can find enough opportunities on both long and short side. Much of success in trading is just plain vanilla things done with discipline.
- So that in total is you "Opportunity Buffet" of both long and short actionable ideas. You need no paid newsletter or black box to find trading opportunities. You can set up these scans in most commonly available software. You can run then intra day and find opportunities, if you are full time trader. You can even run scans to anticipate these breakouts.
- The market monitor will present such opportunity buffet daily. Hopefully you will have enough to chose from it. Stay tuned for your daily dose of opportunities.Leave your feedback on this new Market Monitor format in comments. Happy and profitable trading.
Posts
8 comments:
How do you define your short scans?
Thanks, Joe
A down move of 4% plus on higher volume than yesterday.
New market monitor format is very good. Please update the market monitor daily in this format.
Thanks a lot.
Thank you Pradeep! Just great stuff here.
Joe
Nice summary. As per your instructions, I also do the same thing everyday. I further narrow the list using float (this again I learned from you) and recent earnings acceleration, ROE, and margin.
I do this by 3 pm and enter selected stocks with stops at 2 days low and trailing stop. I exit with 10% profit or 5 day time stop. Thanks for suggesting that. That way my money keeps rolling in to best opportunities.
After trading this for around 3 months, I am very confident I will have one of the most profitable year ever. I only wished I had known of this simple stuff before.
I also noticed you skillfully avoided shortlisting the Episodic Pivot candidates. So the most profitable strategy still remains under wrap.
Once again thanks for all your help. Will be in touch with you next week.
Double Troubles:
my telechart scan is out in left field..sorted by symbol asc:
ADTN
ARNA
ARXT
ATTU
BITS
BVX......etc
I'm running rank 1st:
365.25 / 135 * ((C - AVGC135 ) / AVGC135) AND C > 5
then filtering that list with:
(100 * (C1 - C22) / C22) < 10 AND ( 100 * (C - C1) / C1) >= 4 AND V >= 1000 AND V > V1
any ideas? Most of yours are not even appearing...
thanks,
Dan
I like the new nightly "buffet" especially if it will be the same format each night/day. Thank you so much again Pradeep for sharing this with others
Dan
There is difference between Double Trouble and what you are referring to which is modified DT.
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