Front Pocket List of Eligible Longs

Click to enlarge^^

While the market hasn't been exactly stellar lately (tepid volume on rally days and a clear dearth so far of important bellwether breakouts), it has been rising in the face of a rising Dollar, while commodities prices have been firm, and sentiment readings have improved notably.

Don't do what I do, since I'm hopefully undoing anything before my own undoing - but from the current, highest ranking industry groups (above) I'm highlighting (IMO) the better technical+fundamental eligible names, for use if the market continues improving.

Here is my updated list of go-to longs in the event we improve from here...

Elec-Contract Mfg:
SANM (extended)
JBL
CLS
PLXS
BHE (thin)

Airlines:
UAUA
CAL
DAL
GOL
LCC

Comml Svcs-Printing:
VPRT
CGX (thin, extended)

Machinery-Mtl Hdlg/Autmn:
HOLI (Chinese, very thin)
SSYS (thin)

Internet-ISP:
INAP (poor-ish fundamentals)
(everything else here too thin and/or other problems)

Oil&Gas-US Expl Prod:
MMR
XEC
NFX
CXO
PETD (thin)
APC
KWK
CRZO
APA
ATLS

Steel-Specialty Alloys:
TIE (reports Monday 21st)
ATI
CRS

Medical- Generic Drugs:
HITK
HSP
PRX
TEVA
WPI

Oil&Gas-Refining/Mkt:
IOC
WPZ
ANW
HOC

Retail-Restaurants:
SBUX
CAKE
CMG
PNRA
PFCB
BJRI

Cosmetics/Personal Care:
EL (extended)
NUS
REV (thin)

Medical-Systems/Equip:
SIRO
ISRG (high PEG)
MR (Chinese)
GIVN (very thin)
KCI

Apparel-Shoes & Rel Mfg:
SHOO (thin)
DECK (the someday-short still acting well)

Retail-Misc:
ULTA
JAS
SBH

Machinery-Constr/Mining:
BUCY
JOYG
MTW

Oil&Gas-Transport/Pipe:
EPB
WMZ (very thin)
PVR (very thin)


Oil&Gas-Machinery/Equip:
DRQ
CAM
NOV
LUFK (very thin)
BHI
FTI
DRC
CRR (thin)

Additionally, the Semi-Mfg and Computer-Network groups (ranked #25 and #31 respectively) have risen rapidly of late...

Elec-Semiconductor Mfg:
NETL
ATHR
ISSI (thin, extended)
VLTR
SNDK

Computer-Networking:
NTGR
RVBD

Working Longs (should leadership still paint positive)

While the market itself reversed lower on the perceived-positive news, in the end leadership stocks did not act badly on Friday. I'm market-neutral, or even a little net-short going into the new week (shift from Friday), but I'm not against getting right back long if action tomorrow is compelling or positive.

That could work several ways. Example, if the general market direction is further-negative, and yet leadership stocks are behaving well, I'll hold onto hedges while adding-back to longs at the same time. If both general direction and action in leadership is alive and snorting, then I'll let go of short-hedges simultaneous to adding-back long. Yet if both leadership and the general market are accelerating negative, I may add to the hedge while adding, holding, or unloading leadership, depending how severe the internals dictate.

If of these these happen, I'll make it up, deal with it then and convey via Twitter. Get to bed.

Here then is the updated working-list of leadership-longs for the early-week:

Internet-Content [group is extended; would be interesting near-term on a hard slice lower]:
CYOU
SNDA
NTES
PWRD
SOHU

Internet-Network Solutions:
ASIA
FFIV
RAX
FFIV
DRIV

Computer-Data Storage:
PAR
TDC
STX
NTAP (enter above 20; possibly lower, but depending)

Semiconductor Mfg:
TQNT
MPWR
ADI
CREE
TSRA (extended)
STEC (extended)
VLTR
FCS
AMCC
RFMD
CY
SPIL
BRCM
OVTI
ONNN
PMCS

Computer-Security Sftwr:
ARST (remaining group slipping rank-wise lately)

Telecom-Wireless Equip:
STAR
RIMM

Telecom-Fiber Optics:
FNSR (pennystock; enter above .74)
JDSU

Retail-Whlsle-Computer/Cell:
IM
TECD (extended)
SNX (extended; may need to build handle)

Oil & Gas-Machinery-Equip:
DRQ
WFT
CAM
FTI
DRC

Metal Ores-Gold/Silver:
GOLD
IAG
AU
SLW
LIHR
GG

Computer Networking (group slipping in RS):
COMS
BBOX (thin)
RVBD

Other Groups showing increased RS rank (not able to compile individual names of these tonight):
- Metal Ores
-Oil&Gas - Field Svcs
-Oil & Gas - US Exploration -Oil & Gas - Canadian Exploration -Leisure Svcs -Energy - Other
-Retail/Whlsle Food