Here is a list of the top performing sectors of the past week. My favorite technical pattern is Steel.
Some beaten sectors have retraced to levels that make for attractive short entries. High on my list is education services.As for individual stocks, my watchlist includes CPLA, APOL, DV, EDU, LTRE and CECO.
I sure am glad I decided to wait for more of a bounce to short ag. Geez. All of the ag stocks are making big moves based on this headline, "Monsanto ups profit view on corn, herbicide strength," and a few other headlines. I'm going to take a step back and just watch ag this... Continue Reading →
One of two things will happen this week. Either we get a major decline or that capitulation move that everybody has been waiting for will lead to a nice bounce. I have no idea what will happen, but I am positioning myself for either outcome.Here is a list of sectors showing strong positive volume. A... Continue Reading →
Surveying the top sectors over the past week, I see a number of bullish charts in the metal and mining complex. The six charts that I will be watching next week are CLF, MTL, SID, ZEUS, CENX and JRCC.
Yesterday it was the financials and real estate, and today the hot sector was agriculture. Great move if you caught it. Now the million dollar question is whether this move was due to short covering or the start of a reversal that will resume the sector uptrend. More to the point, should we hitch on... Continue Reading →
Here are the top performing sectors last week. There isn't much that has me excited here. Most of them were bounces from some of the worst industries over the past few months, like mortgage, cement and building materials. One sector I do like is Ag Chemicals.
As usual, I went over the this past week's top and bottom peforming sectors. Most of the sectors that performed well do not look good as longs. This is not a good sign for the market. At best, it signals new leaders are emerging. Worst case scenario is that most sectors, along with the market,... Continue Reading →
My focus list, which is mostly comprised of momentum stocks, looked ugly today. Not only was there a lot of red, but many stocks have broken major support levels. Because of this, I cannot play a bounce in these stocks. I never play bounces when support has broken. Many of my favorites have now made... Continue Reading →
This was not a great week for the market. We still don't know if the character of this bull market has changed or it was just a natural correction. Either way, after a negative week, it pays to make note of what is working.During a week where every major index was significantly down, lead by... Continue Reading →