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Hello and welcome to Selective Chartists. I am Joe Majocha, full-time trader (NYSE, NASDAQ growth stocks) since 2000 and founder of SC(2004). SC offers stock analysis and trading considerations for hedge funds, financial analysts and self - directed traders. Our uniqueness is proprietary scans... More
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The ART Of The CHART - Knowing When and Why To Buy & Sell Stocks
  • Anticipate Snap-Back Rally, 2 Positions 0 comments
    Sep 7, 2011 8:50 AM | about stocks: PRGO, WYNN
    Anticipate Snap-Back Rally, 2 Positions

    09/07      8:45am 


    On Tuesday, stocks gapped down on a broad based sell-off triggered by European debt concerns. In the afternoon, stocks pared losses to  close well above the lows of the session. Volume climbed on both exchanges.

    After recent selling sessions, a snap-back rally is anticipated.

    This morning, futures are displaying a HIGHER opening.   


    Currently, major indexes are BELOW 50 & 200dMA

    Indicators are NEGATIVE suggesting lower levels may lie ahead near-term.


    Climate is HIGH RISK....

     

    Selective Chartists Positions (with BUY price):

    Wynn Resorts (NASDAQ:WYNN) $144.69

    Perrigo (NYSE:PRGO) $97.10

     

    Closely Monitoring:

    NetEase (NASDAQ:NTES)

    Sina (NASDAQ:SINA)

    Cerner (NASDAQ:CERN)

    Hansen (HANS)

    Dollar tree (NASDAQ:DLTR)

    Deere (NYSE:DE)

    Las Vegas Sands (NYSE:LVS)

    Mosaic (NYSE:MOS)

    Potash  (NYSE:POT)

    Amazon (NASDAQ:AMZN)

    Lululemon (NASDAQ:LULU)

    Under Armour (NYSE:UA)

    Baidu (NYSE:BID)



    ETFs:  None

     

    Inverse Funds:      

    Dow 30 (NYSEARCA:DXD)      

    ProShares Short Dow 30 (NYSEARCA:DOG)       

    ProShares Short S&P 500 (NYSEARCA:SH)       

    QQQ (NYSEARCA:QID)       

    SP 500 (NYSEARCA:SDS)

     

    View the charts:

    Major indexes BELOW 50 & 200dMA testing key support levels and strongest stocks close / meeting the CRITERIA. 

     http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855

    Stocks: PRGO, WYNN
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