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Stocks Rebound Reversing Higher, 4 Positions

Feb. 17, 2012 9:00 AM ET
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Stocks Rebound Reversing Higher, 4 Positions

02/17 8:45am

On Thu., stocks staged a huge upside reversal, erasing all of Wed.'s losses and more on renewed optimism about Greek debt talks. Volume eased across the board. Although the gains are welcome, climate is CAUTION as major indexes RSI is extended and MACD is weakening.

This morning, futures are pointing to a HIGHER opening.

Focus is on stocks holding ABOVE 50 & 200dMA (meeting CRITERIA).

Selective Chartists Positions (with BUY price):
Jazz Pharm (JAZZ) $49.90 (Buy #1)
Jazz Pharm (JAZZ) $50.10 (Buy #2)
Jazz Pharm (JAZZ) $50.81 (Buy #3)

Deckers (DECK) $89.84

FYI: On Thu., SOLD DVN locking in profit as became extended on an upside gap.

Closely Monitoring:
Baidu (BIDU)
Dollar Tree (DLTR)
Express Scripts (ESRX)
Ultra Pharm (ULTA)
Nordstrom (JWN)
Under Armour (UA)
VMware (VMW)
Cabot OIl (COG)
Citrix (CTXS)
Alexion (ALXN)
Helett Packard (HPQ)

View the charts:

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

Disclosure: I am long DECK, JAZZ.

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