Sunday, March 29, 2009

Updated Long List (eligible growth for a strong tape)


[scroll below to skip the explanation...]

The below list comprises my eligible longs for the coming week, based on a compilation of various relative strength screens. I have removed most of the names which are either very thin, or have a very high degree of short interest.

For most of these, I need a strong tape to consider purchase or holding. Briefly, here is how I use the list: If a trading day is strong, or if it is mediocre but I am too short-weighted for the action at the time, then I look to the Industry Group Rankings* for that specific day. From the top-ranked groups in that session I then look to the eligible names below from the respective group(s); this then may generate a trade for just the day, but usually I set out as if it will be a swing trade at least (adding then on strength and reducing or eliminating on weakness).

In other words, if I want to increase long exposure I look to the leadership of the day and quickly scan my names below in that day's leadership categories and quickly attack the stronger set-ups within.

*Intraday Industry Group Rankings stem from Daily Graphs (subscription service), which includes intraday rankings of IBD's 197 industry groups (15 min delayed, unfortunately). I find the screen most beneficial 45-to-90 minutes into the session (there are less reversals at that point, yet it is still early enough to capture further strength from that day's tape).

This briefly describes how I go about adding names. This is in no way investment advice.

Updated Long List (eligible growth for strong tape):

Semi's-Manufacturing (this group still exploding in RS):
ALTR
SWKS
NETL
PMCS
SPIL
CREE
DIOD
CRUS >4.43
OIIM (very thin)
HITT (thin)
TSM
CY
XLNX
MRVL
NVDA
MCHP
INTC
SLAB
ZRAN
BRCM
MPWR >16.67

Semi's-Equipment (improving rapidly in RS:
NVLS >16.50
FORM
UTEK >12.90; thin
VSEA
LRCX
CYMI
AMAT (liquid, but lower RS)
KLAC (liquid, but lower RS)
CCMP (thin)

Oil/Gas-Refining:
WNR
ALJ (thin)
IOC
DK
ETP >37.40
HOC
UGP

Oil/Gas-Transport/Pipeline:
MGG
NSH (thin)
WES (thin)
EPE >23.20; thin

Internet-Network Solutions:
ASIA
FFIV
DRIV
AKAM

Software-Security:
ARST
CHKP (>21.90)
MFE
MVSN

Software-Medical:
MDRX
SXCI (thin)
CERN
CPSI (thin)
ATHN

Medical-Genetics/Biotech:
MYGN
LIFE
BIIB
ALXN
ACOR (12% shorts)
GPRO
SEPR
CRXL
OPTR (thin)
IMGN
ISIS (10% short)
ONXX >30.65
ALKS
THRX (13% short)

Medical-Generic Drugs:
MYL
TEVA
WPI
CSKI (very thin)

Medical-Products:
EW
STJ

Retail-Auto/Parts:
MNRO (thin, but volume increasing)
ORLY
AZO
AAP
CPRT
AN (16% shorts)

Software-Financials:
EPIQ (thin)
LFT (thin)
PEGA (thin)
ACIW
ADVS (thin)
INTU

Retail-Discount:
BIG
FDO
DLTR

Beverages-Softdrinks:
HANS (old Hans, believe it or not)
KO

Software-Enterprise:
BMC
TSYS
SY
TLEO
OTEX (13% shorts)

Telecom Svcs:
TNDM (thin)
EQ >38.28
CBEY (thin)
Q

Telecom-Wireless Equip:
STAR
QCOM
PALM

Retail-Leisure/Electronics:
NFLX
BBY

Internet-Content:
SNDA
NTES

Internet-Network Solutions:
ASIA
FFIV
DRIV
AKAM

Bldng-Hvy Constr:
PWR >23.55
GVA
ACM >25.90
URS
SGR (reports 8Apr)

Chemicals-Fertilizer:
SQM
TNH
SMG

Retail-Clothing/Shoe:
ROST
ARO
BKE (11% shorts)
CTRN (thin)
DBRN
AEO
GES
TJX
HOTT

Retail-Restaurants:
DRI (12% shorts)
PZZA
EAT
JACK
BKC
CBRL (18% shorts)
SBUX >12.15

Internet: E-Commerce:
AMZN
GSIC

Honorable Mentions (most hail from a lower-ranked industry group):
GS
MS >25.20
OCN
SF
SNX
TECD
CEO
DTSI
BEAT
NICE
DLB
TWGP
VNUS (thin)

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