Major Indexes Approaching EXTENDED, 4 Positions

Jan. 27, 2012 9:13 AM ET
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Contributor Since 2010

Hello and welcome to Selective Chartists. I am Joe Majocha, full-time trader (NYSE, NASDAQ growth stocks) since 2000 and founder of SC(2004). SC offers stock analysis and trading considerations for hedge funds, financial analysts and self - directed traders. Our uniqueness is proprietary scans resulting in an exceptional record of winning trades. Through the day, scans produce a narrow list of candidates positioned for higher levels short-term. Subscribers are notified when price targets are triggered. All reports are available for public viewing by visiting our archive section. Whether you are a novice or seasoned trader, Selective Chartists can enhance your probability to make money and save hours of your time. Please take the time to navigate: www.selectivechartists.com. I am a speaker at educational forums, featured guest on national radio programs focusing on stock market activity and author of the instructional publication: The ART Of The CHART - A Guide To Knowing When and Why To Buy & Sell Stocks.Try our 30-day risk FREE trial and receive your complementary copy (Ebook).
Major Indexes Approaching EXTENDED, 4 Positions

01/26 8:45am

On Thursday, stocks opened the session up on positive durable goods orders, backtracked on weak home sales data, and ended the session posting modest losses. Volume rose on both exchanges. In recent sessions, numerous leading stocks staged breakouts and are now extended. It is increasingly difficult to identify stocks & ETFs close to / meeting the CRITERIA. RSI & MACD are weakening suggesting pullbacks may occur near-term.

This morning, stock futures are displaying a Lower opening.

Focus is on stocks holding ABOVE 50 & 200dMA (meeting CRITERIA).

Selective Chartists Positions (with BUY price):

Cabot Oil (COG) $78.95 (Buy #1) 2 -1 split $39.47
Cabot Oil (COG) $81.70 (Buy #2) $40.85
Cabot Oil (COG) $65.01 (Buy #3) $32.55
Cabot Oil (COG) $66.07 (Buy #4) $33.03

Note: On Wed., SOLD LVS & WYNN locking in profits.

Closely Monitoring:
Polaris (PII)
VMware (VMW)

Solar Winds (SWI)
Joy Global (JOY)
Autodeskk (ADSK)
Schlumberger (SLB)
Bed Bath Beyond (BBBY)
Altera (ALTR)
IBM (IBM)
Ralph Laurenn (RL)

ETFs:
Energy Sector (XLE)

View the charts:
Strongest Stocks & ETFs close / meeting CRITERIA

ttp://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1563855

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