Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Numerous Stocks Extended, 6 Positions

Numerous Stocks Extended, 6 Positiions

03/20 8:55am

On Monday, major indexes hit multi-year highs closing the session with fractional gains. Volume fell sharply and imposes the concern that institutional sponsorship is tiring. Numerous leading stocks are displaying RSI 70+ (above 70 is extended). The TREND remains UP. Pullbacks on light volume would be healthy to digest gains & rebuild momentum.

This morning, futures are pointing to a Lower opening.

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

Selective Chartists Positions (with BUY price):
Herbailfe (NYSE:HLF) $69.25 (Buy #1)
Herbalife (HLF) $69.99 (Buy #2)

Monster Bev. (NASDAQ:MNST) $59.17
Lululemon (NASDAQ:LULU) $74.20
PNC Financial (NYSE:PNC) $63.00
Las Vegas Sands (NYSE:LVS) $59.64

Closely Monitoring:
Analog Devices (NASDAQ:ADI)
Broadcom (BRCM)
Taiwan Semi (NYSE:TSM)
Texas Instr. (NASDAQ:TXN)
Rackspace (NYSE:RAX)
Devon Energy (NYSE:DVN)

View the charts:

Disclosure: I am long HLF, MNST, LULU, PNC, LVS.