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Selective Chartists
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Selective Chartists identifies stocks that meet the CRITERIA. These stocks appear poised for higher levels in the near-term, as indicators are positive & strengthening. Regimented buy / sell rules is KEY... CRITERIA: Focus on 50 top-rated growth stocks ranked by Investors Business Daily... More
My company:
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. (WLT)
    Trina Solar (TSL)
    Cliffs Natural (CLF)
    Netflix (NFLX)
    Freeport McMoran (FCX)
    Chipotle (CMG)
    Mechel Steel (MTL)
    Amazon (AMZN)
    Baidu (BIDU)
    Bucyrus (BUCY) 
    Akamai (AKAM)
    VMware (VMW)
    F5 Networks (FFIV)
    Cognizant Tech (CTSH)
    Qualcom (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
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