Seeking Alpha

Selective Chart...'s  Instablog

Selective Chartists
Send Message
Hello and welcome to Selective Chartists. I am Joe Majocha, full-time trader since 2000 and founder of SC. SC is a provider of stock analysis for self directed traders. Our uniqueness is proprietary scans resulting in an exceptional record of winning trades. Through the day, scans produce a... More
My company:
Selective Chartists
My blog:
Selective Chartists
My book:
The ART Of The CHART - Knowing When and Why To Buy & Sell Stocks
  • Stocks Need Pullback To Digest Gains & Rebuild Momentum 0 comments
    Sep 7, 2010 8:36 AM | about stocks: WLT, TSL, CLF, NFLX, FCX, CMG, MTL, AMZN, BIDU, BUCY, AKAM, VMW, FFIV, CTSH, QCOM

     


    09/07  @ 8:20am


    After sizeable advances in recent sessions, major indexes need to pullback to digest gains and rebuild momentum.  Many leading stocks have become extended. A pullback would be healthy for the market and provide opportunity of attractive entry / re-entry price levels.

    Major indexes are ABOVE 50dMA & challenging 200dMA. The trend is UP.   

    Thiis morning, futures are pointing to a LOWER opening.

    Focus is on stocks meeting the CRITERIA & setting stop-loss limits / trailing stops as stocks rise in price.


    Selective Chartists Positions (with BUY price):  None   100% CASH 
    Selective Chartists SOLD all 9 positions on market opening Fri. 9/3 into early morning rally / strength.  Sold to lock-in profits as holdings were becoming extended.  Have raised $$$ for re-entry on pullbacks...



    Closely Monitoring:  all are extened and need pullback...

    Walter Iind. (NYSE:WLT)
    Trina Solar (NYSE:TSL)
    Cliffs Natural (NYSE:CLF)
    Netflix (NASDAQ:NFLX)
    Freeport McMoran (NYSE:FCX)
    Chipotle (NYSE:CMG)
    Mechel Steel (NYSE:MTL)
    Amazon (NASDAQ:AMZN)
    Baidu (NASDAQ:BIDU)

    Bucyrus (NASDAQ:BUCY
    Akamai (NASDAQ:AKAM)
    VMware (NYSE:VMW)
    F5 Networks (NASDAQ:FFIV)
    Cognizant Tech (NASDAQ:CTSH)
    Qualcom (NASDAQ:QCOM)


    ETFs:  QQQQ, DIA, XLI, XLY

    View postings on StockCharts:
    http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855



    Disclosure: None 100% CASH - waiting for pullbacks...
    Stocks: WLT, TSL, CLF, NFLX, FCX, CMG, MTL, AMZN, BIDU, BUCY, AKAM, VMW, FFIV, CTSH, QCOM
Back To Selective Chartists' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.