1/28 Watchlist

A headline writer on the Investor's Business Daily website at one point in the day said that the major stock indexes "Plunged". The decline today, so far, from high to low is 2.1 percent. They just don't make plunges like they used to.

The blue chip stocks (SPY) are trading slightly below the 50 percent Fibonacci retracement level, the current price is within the range set in trading on Wednesday, and are about where they were in late October.

In other words, 'tain't no thang. Also, there's no pps signal on SPY.

The Treasury long bonds (TLT) continue to show a pps bear signal, although prices rose 7/10 of a percent off their lows before pulling back a bit. No signals on the other indicators, who are in range-bound trading. Neither the currencies nor my holdings are showing signals. Among holdings, PALM, a covered call, remains well below its exercise price. My others are in profitable territory. And, no new pps signals on the high-volume exchange-traded funds. I don't mean, only a few, or hardly any. I mean none. Zip. Nada. Let's see if corporate shares show more zing.

Well, not QCOM, which is trading down 14 percent on an earnings surprise. It has been in bear mode since Jan. 21. Some surprise.

I'm not finding any signals that meet my with-the-trend rule.

Let's try this. Shares with 1 million or more in volume, priced at $2 or under, sorted by market capitalization, the big dudes on top. It starts with JALSY, and works its way down through SIRI, ETFC, LVLT, RAD, FNM, DYN, FRE, CTIC, GBG, MTLQQ and DPTR. A dozen, showing no new signal.

Continuing down,

• CRBC shows a bear signal amid what looks like a fairly ambiguous uptrend.
• IMGG is showing a bull signal and a 51 percent rise today amid what has been a downtrend. Volume: 8.9 million.
  
• SRCH is showing a bull signal on the fourth day of an uptrend.

Mind you, I wouldn't trade any of these without some good research into the underlying fundamentals. A big cap stock trading for a penny stock price generally is down in the cellar for a reason.




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