Sunday, April 05, 2009

Updated Long List (eligible growth for 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 names which are either very thin and/or have a very high degree of short interest and/or poor fundamentals.

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.

I will be working on a new working list for shorts, which should post in a day or two, depending on the strength of the market.

Updated Long List (eligible growth for strong tape)
:

Semi's-Manufacturing:
SWKS
NETL
PMCS
DIOD
TSM
SPIL
CREE
DIOD
ARMH
STEC
SMTC
HITT (thin)
CY (reports Apr 16)
MRVL
NVDA
OVTI (>8.56)
ZRAN
BRCM
MPWR >16.67

Semi's-Equipment:
NVLS
CYMI
FORM
KOPN (thin)
UTEK >12.80; thin
VSEA
LRCX
AMAT (liquid, but lower RS)
KLAC (liquid, but lower RS)

Internet-Network Solutions:
ASIA
DRIV

Software-Security:
ARST
CHKP (>22.00)
MFE
MVSN
SYMC
BCSI

Chemicals-Fertilizer:
SQM
TNH
SMG
CF
LXU

Retail-Restaurants:
DRI (12% shorts)
PZZA
EAT
JACK
BKC
CBRL (18% shorts)
BOBE
SBUX >12.00
BJRI (15% shorts)
CEC (9.5% shorts)
EAT
CAKE

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

Oil/Gas-Refining:
WNR
ALJ (thin)
IOC
DK
ETP >37.15
UGP

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

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

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

Retail-Discount:
BIG
FDO
DLTR

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

Telecom Svcs:
TNDM (thin)
CBEY (thin)
Q

Telecom-Wireless Equip:
QCOM
PALM
RIMM (>60)
IDCC

Telecom-Equipment:
MTZ
ARRS
BBND
ADTV
TLAB

Retail-Leisure/Electronics:
NFLX
BBY
DKS
HIBB

Internet-Content:
SNDA
NTES

Bldng-Hvy Constr:
GVA
ACM >25.75
URS
SGR (reports 8Apr, aftr close)
PWR >23.27

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

Internet: E-Commerce:
AMZN
GSIC
SFLY

Comml Svcs-Market Rsrch:
FDS
IDC
TRIN

Medical-Genetics/Biotech (groups remain highly ranked, but dropping now in score):
MYGN
LIFE (32.13)
CRXL
OPTR (thin)
IMGN
ISIS (10% short)
THRX (13% short)

Honorable Mentions (most hail from a lower-ranked industry group):
GS
MS >24.75
OCN
SF
BBY
AIPC
WDC
WIRE
SNX
TECD
CEO
DTSI
BEAT
NICE
HANS
DLB
VNUS (thin)

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