David Penn's  Instablog

David Penn
Send Message
David Penn is Editor in Chief of TradingMarkets.com.
My company:
My book:
Larry Connors: Short Term Trading Strategies That Work
  • 5 Stocks for the Next 5 Days (MW, KSS, LUV, ZNH, EDU) 0 comments
    Dec 9, 2010 12:11 PM | about stocks: TLRD, KSS, LUV, ZNH, EDU, CQP, SCMR, PRSN, TTM

    Profit-taking has been the theme in certain retailers that had become increasingly overbought during this season's retail stock run-up.  Pulling back again on Thursday were shares of Men's Wearhouse (MW), following through to the downside after Wednesday's gap down retreat.

    Also lower on Thursday and increasingly oversold above the 200-day moving average were shares of Kohl's Corp (NYSE:KSS).  Thursday marked the stock's tenth consecutive lower close.

    Airines stocks are also moving into oversold territory in recent days.  Southwest Airlines (NYSE:LUV) closed lower for five days in a row going into trading on Thursday.  Down five days in a row and off 5% intraday on Thursday was China Southern Airlines (NYSE:ZNH).

    Buyers have moved back into shares of New Oriental Education and Technnology Corp (NYSE:EDU).  EDU was up more than 2% and closing above its 5-day moving average for the first time since the Thanksgiving holiday in trading on Thursday.


    Of the stocks from last week's 5 Stocks for the Next 5 Days, Cheniere Energy Partners (NYSEMKT:CQP) and Sycamore Networks (OTCPK:SCMR) have since rallied into strength, closing above their 5-day moving averages.  BSD Medical (BSDM) appears likely to do so today.  Tata Motors (NYSE:TTM) continues to pullback, moving closer to oversold territory above the 200-day.

    Markets go up, markets go down, and markets go side to side.  Larry Connors talks about building a balanced portfolio in his latest column for TradingMarkets here.

Back To David Penn's 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


More »
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.