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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
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Selective Chartists
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Selective Chartists
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The ART Of The CHART - Knowing When and Why To Buy & Sell Stocks
  • Stocks Decline On Weak Economic Data, 1 Position 0 comments
    Oct 5, 2010 8:34 AM | about stocks: WYNN, BA, FDO, SID, JWN, BRCM, MCHP, MTW, BIDU

    10/05  @ 8:20am

    On Monday, major indexes fell for the 3rd time in 4 sessions.  Volume fell on both exchanges.  Weak economic data was concerning for investors. 

    Weakening indicators (RSI & MACD) for the major indexes are signaling near-term CAUTION.  Orderly pullbacks on light volume would be beneficial for stocks to digest recent gains and rebuild momentum. 

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


    Selective Chartists Positions (with BUY price):   1 (subscribers only)
       

    Closely Monitoring: 
    Wynn Resorts (NASDAQ:WYNN)
    Boeing (NYSE:BA)
    Family Dollar (NYSE:FDO)
    Companhia Siderugica (NYSE:SID)
    Nordstrom (NYSE:JWN)
    Broadcom (NASDAQ:BRCM)
    Microchip (NASDAQ:MCHP)
    Manitowoc (NYSE:MTW)
    Baidu (NASDAQ:BIDU)

    ETFs:
       IWM


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

    Disclosure: Long 1 position (subscribers only)
    Stocks: WYNN, BA, FDO, SID, JWN, BRCM, MCHP, MTW, BIDU
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