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Stocks Set To Slide, 100% CASH

May 09, 2012 9:08 AM ET
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Seeking Alpha Analyst 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).

Stocks Set to Slide, 100% CASH

05/09 9:00am

On Tuesday, stocks sold-off but attempted a weak rally late in the session. Major indexes posted losses on heavy volume. Eurozone worries continue to pressure global markets.

Major indexes are BELOW 50dMA and indicators are NEGATIVE. Further weakness near-term is anticipated and the climate is HIGH CAUTION.

This morning, futures are pointing to a LOWER opening.

Focus on stocks meeting the CRITERIA.

Selective Chartists Positions (with BUY price): NONE 100% CASH

Closely Monitoring:
Cerner (CERN)
Apple (AAPL)
Amgen (AMGN)
Lululemon (LULU)
Nike (NKE)
American Tower (AMT)
Dollar General (DG)
Ross Stores (ROST)
Tractor Supply (TSCO)
GNC Holdings (GNC)

View the charts:

Inverse Funds:    
Dow 30 (DXD)    
ProShares Short Dow 30 (DOG)    
ProShares Short S&P 500 (SH)    
QQQ (QID)    
SP 500 (SDS)

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