The trend is down and contrary to common (mis)belief, oversold is not a bullish indicator. That said, this appears to be the beginning of a swing-shot reflex in the upward direction and if that is the case then I need ammunition in order to hold some shorts (and more importantly, re-accumulate more of the broken ulglies).
If we gap to lower lows on Monday, this becomes more of a watch-list. But if we're going to retrace a standard 38 to 62% of the recent drub-wave lower (retracing from intraday lows on Friday), then the below list becomes a lot more useful. I am long some of these names already (scroll down to previous entry)
Of course, don't do what I do, but feel free to sign-up on the right for the blow-by-merciless-blow Live Trades Feed via Twitter >>>
Note, except for the Fertilizer group (which has ascended rapidly recently), every name below come from an industry group with a relative-strength rating in the top 22% (as ranked by Investor's Bus. Dly's current 197 industry-group screen). The Fertilizer group is now ranked 61/197, or top-31%...
Long Bomb List for whatever upside we might be in for:
Medical/Genetics/Biotechs/Med-Svcs:
MYGN
CEPH
HMSY
GILD
GENZ
ALXN (>38.13 only)
GXDX (very thin)
GTIV (>26.43 only)
SEPR (>16.35 only)
ITMN (reports 26Feb; 18% shorts)
VRTX (>32 only; 10% shorts)
BRLI
PMC
OCR
Tech: Medical Sftwr/Entrprs Sftwr/Wireless-Eqp/Military-Tech or Tech-Svcs:
BMC
AVAV (eps due early-march, no date yet)
IDCC
NCIT
MANT
ASEI
ATHN
CUB
TSYS
SXCI
OTEX
Chemical-Fertilizer:
POT
MOS
SQM
CF
AGU
Oil/Gas: Refiners and Transport/Pipe groups only:
HOC (>21.34 only)
WNR (eps due soon, no date yet)
IOC (>15.98 only)
NRGY (>22.48 only)
TSO (>15.97 only)
Retail: Auto Prts/Leisure:
ORLY
AZO
MNRO (very thin)
NFLX
Comm Schls:
COCO
CECO
LOPE
(Pairing lope here with same-group shorts STRA and/or APOL, <80.10)
No comments:
Post a Comment