Tuesday, April 20, 2010

4/20 Watchlist: Stocks

Here's the stocks Watchlist for today. I added CIEN as a bear signal. No one kicked off the island, although I almost gave COST the boot.


Stocks that showed Parabolic SAR bull signals:
  • A, analysis. Popped up out of range for a 2.8% run, low to high, on the fourth day in psar bull phase.
  • F, analysis.
  • * GE, analysis. The price dropped when earnings were announced on April 16. Today's trading is a retracement of about half of that decline.
  • KRE, analysis
  • XLE, analysis. I pegged this as a $56 to $60 iron condor. It is above the max-profit range.

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Stocks showing a Parabolic SAR bear signal:
  • CIEN, analysis. New today. Since I did the analysis the price has moved to a net rise today with a volume spike, and a pps bull flag is showing. Betcha this turns out to be a whipsaw.
  • * EEM, analysis.
  • UNG, analysis.

Stocks of interest (I wouldn't necessarily trade them):
  • COST, analysis. Bear. Up for the third straight day, although the psar and pps remain in bear phase. The original rationale for entering was that the price had fallen below the 50-day moving average. It's now trading about 1% below the ma50, which is trending sideways to up(!).
  • FNM, analysis. Agnostic. Moved back above the 50% Fibonacci retracement level of $1.21. The developing price pattern is a symetrical triangle.
  • * PALM, analysis. Agnostic. A bear signal on the pps with the psar still in bull phase. Trading at the bottom of yesterday's 12% decline on speculation in the NY Times that PALM wouldn't command a premium price in a buyout.

Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic


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