Stocks Sell-Off On Higher Volume, 2 Positions
Seeking Alpha Analyst Since 2010
On Wednesday, an unexpected rise in U.S. gasoline supplies sent oil & gasoline futures plunging, triggering a high-volume stock slide. The loss broke a 3-day winning streak. Indicators are weakening suggesting further pullbacks to occur near-term. The climate is HIGH CAUTION.
Major indexes are holding above 50dMA. In the database of 750 stocks monitored, it is very difficult to find candidates meeting the criteria. Numerous leading stocks remain EXTENDED.
Focus is on stocks emerging from bases & above 50dMA.
This morning, futures are pointing to a LOWER opening.
Selective Chartists Positions (with BUY price): 2 (subscribers only)
Acme Packet (APKT)
Analog Devices (ADI)
JDS Uniphase (JDSU)
Coventry Health (CVH)
View the charts:
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