5/7 Watchlist: Stocks

Everything on the Watchlist is way down, except for a bear signal, ABT, which is only a little bit down. X added to the bear list.

Go figure!

Decision time: Sell out for a big loss or hold over the weekend in hopes of a bounce? I remember the Friday before Black Monday in 1987. I elected to hold over the weekend. Bad choice.

Stocks that showed Parabolic SAR . . .

Bull signals:

• * CIEN, 4/26. Down 6%, covering all of yesterday's panic decline, this time for real.
• CVX, 5/3. Up 0.2%
• PCAR, 4/23. Down 2.2%
• * UNP, 4/29. Down 1.9%
• XLE, 4/17. I pegged this as a $56 to $60 May iron condor. It's trading around $55, below the profitable range.
• XLI, 5/3. Down 2.3%

Bear signals:

• ABT, 5/6. Down 0.8%
• X, 5/7. New today. Down 2.2%

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

• FNM,  4/13, 4/23. Agnostic. Down 1.9%.

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The Investor's Guide to Active Asset Allocation: Using Technical Analysis and ETFs to Trade the Markets

Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.

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Skynet Panic of May 6
Panic Looks Like This
Skynet Panic Poisons Technical Tools

New to Private Trader? Check out the Reader's Guide.

New to private trading? Here's a look at How to Become a Private Trader.