Here is my watchlist for the upcoming week. I have included a market posture as well. I indicate stocks and sectors that are either beginning to go intermediate term (IT) bullish/bearish in parenthesis, or are a little tapped out short term (in other words, I'm watching but not likely playing). I indicate stocks that are IT bullish/bearish in a normal font. And I indicate stocks or sectors I'm most interested in because of where they are short term (ST) in a bold font. The bolded stocks are closer to buy signals, or they are extremely compelling because they could be high probability setups soon. The regular font stocks are worth keeping an eye on, and the stocks in parenthesis are something I will watch, but probably not play.
Dow: IT Bullish and ST Bearish. The Dow has support at 12,750. A break below that number will be a warning Flag that the Dow may be going back to Intermediate Term Neutral. A drop below 12,600 would confirm the posture.
SPX: IT Bullish and ST Bearish. The SPX has support at 1,380. A break below that number will be a warning Flag that the SPX may be going back to Intermediate Term Neutral. A drop below 1,365 would confirm the posture.
Naz: IT Bullish and ST Bearish. The Naz has support at 2,400. A break below that number will be a warning Flag that the Naz may be going back to Intermediate Term Neutral. A drop below 2,350 would confirm the posture.
BULLISH SECTORS/GROUPS AND STOCKS:
Energy: NOV, FTI, CAM, NBR, SII, SU, CHK, APC, NBL, PXD, PDE, SWN, CNQ, MRO, NE, (HES)
Coal: ACI, CNX, MEE
Oil Shipping: DRYS
Metals/Mining: ANR, WLT, FDG, CCJ, PCP
(Chemicals: AGU, TRA)
Steel: CLF, X, GGB, SID
Tech: ADBE, ADSK, RIMM, AAPL, GOOG, SOHU, AKAM, IBM, INFY
Manufacturing/Machinery: CMI, PH
Some Financials: GS, AXP, NYX, LTR, (MER), TROW, MA
Note: VZ
BEARISH SECTORS/GROUPS AND STOCKS:
Chemicals: starting to go bearish: MON, MOS, CF, POT
Energy: starting to go bearish: MUR, APA, XTO
Retail: BBY, AMZN
Note: TDW, LM, BAC, FDX, AIG, ADM, PSA
Note: a number of Energy, Commodities, Retail, and Financials stocks are starting to go bearish.
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Dwight,
ReplyDeleteI came by a nice bull flag on TXI in the raw materials group.Wondering if it would be a good add to the list?
Gary
Dwight,
ReplyDeleteI wanted to say Thank you for the grid charts on VC Friday. I was able to put the indices on a grid chart and mark them with the appropriate indicators. It's a great tool!!!
Gary
Hello Gary:
ReplyDeleteRef: TXI
Just for some info:
Dwight looked at TXI on Friday night's VC. Nice Flag set up. The issue was the spreads on the options were a bit over his normal tolerance. The OTM June Calls were 30 cents but the ITM ranged 50 to 60 cents. I plan to watch and see if the spreads tighten and if the stock and market gets bullish. Looks like a good risk/reward at an entry near 70 and stop below that- I see a potential 1st target near 80. Dwight - please add your super power insights.
Thanks
Robert
CANI
Note: Going Green on big chart and support near the 70's back to Nov/Dec 07 time frame.
Robert,
ReplyDeleteThanks. I was watching my children and VC at the same time so I may have missed that one.
Gary
Gary: TXI is a nice looking Bull Flag so far, but the spreads look too wide. I just checked them this morning (Monday).
ReplyDelete