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  • Active Screen - CANSLIM: April 15th
    For another week there was no change at the top (ranked by Market Cap): Apple (NASDAQ:AAPL), Vale S.A. (NYSE:VALE), Free McMoran (NYSE:FCX), Barrick Gold (NYSE:ABX), Baidu (NASDAQ:BIDU), Research in Motion (RIMM), Cognizant Technlogy (NASDAQ:CTSH), and Intuitive Surgical (NASDAQ:ISRG). The Screener setup was as follows:

    Apple (AAPL) is looking very vulnerable at $330. Might not take much for it to test $325 which is where the tears will really start to flow if the latter price breaks. The head-and-shoulder projection for a break down is $285, altough there is a prior band of support between $295 and $300 which is a more likely target. 

    Vale S.A. (VALE) is also showing what amount to the latter stages of a head-and-shoulder reversal. A break of $31 confirms and sets a target of $25, which is the congestion zone of last summer.

    Zignals Chart Image 
    Free McMoran (FCX) having risen to challenge $58 has since headed South, slicing its 50-day MA with relative ease. The 200-day MA currently sitting just below $48 is a likely downside target.

    Barrick Gold (ABX) has held its gains better than most. The 50-day MA at $51 offers a good place for stops if holding or looking to buy. Broader pattern is one of a consolidation, bound by $46 support and $55.50 resistance.

    Baidu (BIDU) continues to fire on all cylinders. The rally is shaping to go parabolic, but hasn't exhibited the heavy volume typical of such a move. Suspect there will be a lot of stops just below $135. If prices were to break $135, watch for a spike low (i.e. rapid fall and equally rapid rise). Traders buying the stop-hits would be looking for a retest of whatever high the rally made prior to the break of $135. Nothing to suggest any of this will happen, but it makes for a good Alert.

    Research in Motion (RIMM) keeps leaking price having lost 200-day MA support. Little to recommend it at the moment.

    Cognizant Technology (CTSH) has enjoyed a solid rally, peppered with brief sallies below its 50-day MA. It looks likely to test the 50-day MA again early next week, but every test weakens it as support. Should the 50-day MA break then support kicks in at $72 and the 200-day MA just below $68.

    Finally, Intuitive Surgical (ISRG) is consolidating its advance from $320 to $375.
    The stock looks to be shaping a cup-and-handle pattern with a neckine at $385. Could be one of the better stocks for the latter part of 2011.

    Zignals Chart Image

    Apr 15 12:05 PM | Link | Comment!
  • Long and Short Ideas for April 15th
    This week's stocks are from NakedValue and include American International Group (NYSE:AIG), Nokia Corporation (NYSE:NOK), Eastman Kodak (EK), PulteGroup, Inc (NYSE:PHM), Weyerhaeuser Company (NYSE:WY), Cree Inc (NASDAQ:CREE), Tellabs, Inc (NASDAQ:TLAB), Office Depot, Inc (NASDAQ:ODP)

    StockNo. of
    % Win
    % Win
    % Win
    Average Return
    Per Trade (> 5 day)

    The five day outlook is relatively bullish with an average 59% probability for a higher close next week. Only Nokia (NOK) and Office Depot (ODP) offer a coin flip probability for a higher close.

    The projection for the next couple of days is relatively muted. Eastman Kodak (EK) and PulteGroup (PHM) offer probabilities above 60% for a higher close today. While Office Depot (ODP) and Weyehaeuser (WY) have a 65% and 61% probability of a lower close today.

    While the short term outlook is relatively bright, the long term outlook is a little more gloomy. Ironically, Nokia (NOK) offered the best long term performance; 65% winning trades with an Average Return Per Trade of 6.5% (Average Return Per Trade assumes an initial stop of 10%, raised to 5% off the price reached on a 15% gain. Ultimate Profit Target of 25%). But there are no real standouts.
    Apr 15 10:40 AM | Link | Comment!
  • Active Screen - CANSLIM: April 8th
    There was no change at the top for the eight stocks ranked by Market Cap: Apple (NASDAQ:AAPL), Vale S.A. (NYSE:VALE), Free McMoran (NYSE:FCX), Barrick Gold (NYSE:ABX), Baidu (NASDAQ:BIDU), Research in Motion (RIMM), Cognizant Technlogy (NASDAQ:CTSH), and Intuitive Surgical (NASDAQ:ISRG). The Screener setup was as follows:

    Last weeks tepid market action did little to change the larger picture for these stocks. 

    For Apple (AAPL), the stock appears destined to test the neckline of a head-and-shoulder pattern.

    Zignals Chart Image

    Vale S.A. (VALE) was able to briefly push through its 50-day MA before returning back to the key moving average on what amounted to a sizable bearish engulfing pattern (i.e. there is a good chance it won't stop at the 50-day MA for long).

    On the flip side, Free McMoran (FCX) was able to comfortably hold its 50-day MA and continues to advance to its last reaction high at $61.25.

    Barrick Gold (ABX) has managed to breach $54 on decent volume. The narrow trading of the past few days sets up a respectable long side opportunity with a stop on a loss of $53.50. 

    Zignals Chart Image

    Baidu (BIDU) added to last weeks breakout and is attempting to build support at $135. However, stronger support looks to lurk at $130.  

    Cognizant Technology Solutions (CTSH) failed to push on from its narrow trading range. Instead it eased back towards $80 and may try and test $78. Selling action is low key with little volume behind it. This may represent complaceny, but given the strength of the multi-year advance it looks more like a buyers pullback. 

    Research in Motion (RIMM) is hanging on to its top-8 status. The stock has given up on its 200-day MA and is struggling to regain support from this important long term moving average. A move towards $44 from its current price of $54.80 would look favoured.

    Zignals Chart Image

    Finally, Intuitive Surgical In (ISRG) has done what is has long threatened to do and pushed sharply higher. The huge breakout gap was barely violated as the 200-day MA rose to offer a place for buyers to come in. This looks to be the start of something good for the long term. 

    Zignals Chart Image
    Apr 08 10:57 AM | Link | Comment!
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