Call it the Super Bowl hangover but the markets seemed pretty dead and boring, trading in a tight intraday range all day. The Nasdaq was up .17% and the SP 500 was up .08% and volume was lower than Friday's level. Obviously, not an exciting trading day.
As a positive person I try to find the good in everything but yesterday's Super Bowl was pretty weak. However, I am happy for the Steelers, Jerome Bettis, and the city of Pittsburgh. Congratulations.
I hope the market is a little more exciting tomorrow cause today was boring. Even if it isn't exciting and it is another boring day I am sure the action in small cap stocks will keep me busy. These stocks continue to be active and are producing some nice charts. However, these stocks are volatile so keep tight cut loss levels.
New Swing Longs: SURG PHX ASEI STRL QCC GNBT TXI DYN AKS
New Swing Shorts: NONE
Longs Outperforming Market: GRS-85% CKCM-27% CRED-33% DXPE NDAQ-299% CLZR-39% NTG ASTE-28% COGO ERS-153% LDSH-55% UEPS GMXR-223% KLIC-28% XRTX GOL-60% ORA-63% KEYS-27% SXC NVDA-51% OXPS-73% ATHR-59% VIMC-27% CRDN-65% PNRG LIFC RVSN RAIL-44% TMI GES-78% DB SWN EFII IHS-25% FFIV MDCC-30% VLG FNX ADBE BNT-73% MSCC-72% KEX MESA CIB-32% PKE BEAV-31% KNXA BBD-129% VSEC-31% NGPS ASVI-26% JBL LEND MMK UDRL SPWR-36% MORN DRH NXG-64% FSII TGB CUP BKHM-39% NTO-33% STXN-34% RTK-92% RSTI SMDI-56% WIRE-92% BGO-32% ROK MRB-84% BAM MYE AU-36% MSPD-29% OZN CMPX AUY-99% TXCO-51% BRLC EFJI STEL PPCO-25% BWNG-56% RES-141% NUVA SWW TGC-60% RCNI ENY SILC-62%
Shorts Outperforming Market: NONE
Stocks On Radar Screen: MT FRK
2 comments:
Hi, Josh. Do the commodities areas look toppy here to you? A lot of high volume drops today.
If not, what do you think of the pullbacks of CDIS, ALY, and ARD?
Thanks in advance.
Yes, they look very toppy to me. For that matter the market now looks toppy. Today's close below the 50 dma on the Nasdaq now makes me for sure all that above average volume was indeed churning.
CDIS: Looks like it is topping here. Some very heavy volume sell offs
ALY: Still long 1/2. I sold this on the way up and sold some more after that big down day Feb. 2nd.
ARD: Pullback is normal. Uptrend still looks wonderful. Only caveat is that it is up so much from its first breakout and the market seems toppy. We shall see, with this one. But I do like the stock a lot. If you dont know what ARD fundamentals are like, I recommend EVEYONE go check them out. You will be impressed.
Thank YOU for reading.
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