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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Another Day, Another White Candle 0 comments
    Apr 29, 2011 12:55 PM | about stocks: QQQ

     More of the same today as the markets grind higher.  One signal I mentioned in yesterday's video to watch for to indicate an overbought level is the 4 ema moving above above the upper bollinger and as of today's close they are at par. Historically this has been a good tell that the market has moved a little to far without a rest.

    What is strange is that the NYSE Advance/Decline chart below isn't registering in the overbought area (above 750) yet. So maybe we get one more strong intraday move higher? It's really difficult to predict because stocks are reacting so favorably to their earnings, that one has to wonder if this isn't the start of a really large move up.

    Earnings winners that showed up on my screens today. CTXS SLG MJN ZMH HRC AET FTNT LSI NSC

    Stocks: QQQ
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