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Pullbacks On Low Volume Are Healthy, 7 Positions

Pullbacks On Low Volume Are Healthy, 7 Positions

03/29 8:40am

On Thursday, stocks traded in negative territory much of the day but ended the session well off the lows. Major indexes closed mixed on mixed volume. Many leading stocks have stagnated at current levels and remain extended. Numerous candidates that are close to meeting the criteria have stalled as the pullback in the major indexes is curbing gains in the overall market & strongest of stocks. Focus is on stocks holding ABOVE 50 & 200dMA (meeting CRITERIA).

The TREND remains UP (but under pressure). This morning, futures are pointing to a HIGHER opening.

Selective Chartists Positions (with BUY price):
Buffalo Wild Wings (BWLD) $93.50
Baidu (NASDAQ:BIDU) $148.41
SolarWinds (NYSE:SWI) $41.22
Amazon (NASDAQ:AMZN) $199.72
Tractor Supply (NASDAQ:TSCO) $90.47
Polaris (NYSE:PII) $73.59
Biogen Idec (NASDAQ:BIIB) $124.85

Closely Monitoring:
Endo Pharm (NASDAQ:ENDP)
Check Point (NASDAQ:CHKP)
Analog Devices (NASDAQ:ADI)
Broadcom (BRCM)
Lam Research (NASDAQ:LRCX)
Texas Instr. (NYSE:TXN)
Gluu Mobile (NASDAQ:GLUU)
Bristol Myers (NYSE:BMY)
Vodafone (NASDAQ:VOD)

View the charts:

Disclosure: I am long BWLD, BIDU, SWI, AMZN, TSCO, PII, BIIB.