Stocks Decline On Growth Fears, 6 Positions

Mar. 07, 2012 9:16 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: 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).
Stocks Decline On Growth Fears, 6 Positions

03/07 9:00am

On Tuesday, weak global economic data and renewed worries about a Greek debt default sparked biggest losses iin 2012. Volume rose across the board. The slide on Tue., has elevated technicians concerns that the broad based sell-off accompanied by high volume may be the start of something more. Cimate is HIGH CAUTION. The Jobs Report will be released on Fri., 8:30am EST and may be crucial for the market's direction near-term.

This morning, futures are pointing to a HIGER opening.

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

Selective Chartists Positions (with BUY price):
Jazz Pharm (JAZZ) $49.90 (Buy #1)
Jazz Pharm (JAZZ) $50.10 (Buy #2)
Jazz Pharm (JAZZ) $50.81 (Buy #3)

Questor Pharm (QCOR) $39.02 (Buy #1)
Questor Pharm (QCOR) $38.92 (Buy #2)
Questor Pharm (QCOR) $39.78 (Buy #3)

Closely Monitoring:
Costco (COST)
Dollar Tree (DLTR)
Monster Bev. (MNST)
Ulta (ULTA)
O'Reilly Autom (ORLY)
Perrigo (PRGO)
Ross Stores (ROST)
Devon (DVN)
Alexion (ALXN)
Wynn (WYNN)

View the charts:

Disclosure: I am long JAZZ, QCOR.

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