5/3 Watchlist: Stocks

A belief in redemption is a strong element of the American character. So I can say wholeheartedly that my heart is warmed to see so many of Watchlist stocks redeeming themselves after straying so far from the right path on Friday.

Go, little critters, and stray no more.

Stocks that showed Parabolic SAR bull signals:

• * CIEN, 4/26. New high on the three-month chart.
• CVX, 5/3.  New today.
• PCAR, 4/23. Retraced Friday's decline.
• * UNP, 4/29. Retraced more than half of Friday's decline.
• WSM, 4/21. Retraced Friday's decline. But, it shows a psar bear signal for the second straight day. So, by the rules, I'm exiting the signals as a FAILURE for a 0.7% loss.
• XLE, 4/17. I pegged this as a $56 to $60 May iron condor. It is above the max-profit range. The parabolic sar and pps are in bear phase.
• XLI, 5/3. New today.
• XRT, 4/22. Retraced about half of Friday's loss, but the psar is showing bear phase for a second day. I'm exiting the signal as a FAILURE for a 1.7% loss.

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Stocks showing a Parabolic SAR bear signal: None.

Stocks of interest (I wouldn't necessarily trade them):

• FNM,  4/13, 4/23. Agnostic. Decisively moved below the lower trendline of a symmetrical triangle, thereby breaking the pattern.

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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