Hi Wayne,
I saw the stocks you posted and took a look at them. You asked for comments, so here are my thoughts on them.
The first thing I noticed is that these are all NASDAQ stocks ! Ummmmmmm Wayne ? Are you feeling ok ? <ggg>
DISCLAIMER 1: Anyone reading this post for a "momentum trade" will most likely be disapointed.
DISCLAIMER 2: All disclaimers posted recently on The Golden List Thread apply here too, lol !
Most of my opinions came from info on Yahoo ! I looked at a few charts too.
quote.yahoo.com
As a general rule, I would avoid any stocks that did not participate in either the June or August rallies. CBLT, CERO, and VIAN are all in the web-site, e-commerce consulting business. From the deterioration in these companies stock prices, along with the downward earnings revisions, I believe Wall Street is expecting a "consolidation" in this sector. From its chart, IGTE seems to have the best prospects, if it starts to break above its 20 dMA ($7.50 ?) and if William%R heads above 50.
siliconinvestor.com
Or if the NASDAQ rebounds after earnings season, it might be a good Nov - Jan hold too.
CERO has taken quite a dive, so it might have some trading potential, but you gotta wonder why people were bailing out. I'm sure they know something.
OCLR is a low growth value stock. Sales increasing by 7%. Zzzzzzzzzz.
URBN -- Retail did well this week. Hmmmmmmm .... did Wall Street figure out that Christmas is coming near the end of the year like it does every year ? Hard to believe those guys get paid what they do. Retail stocks have been beaten down for the past 6 months, so they might enjoy a nice rebound. Look at IBI, they did better than COVD last week.
FWIW, the NASDAQ chart does not look pretty:
siliconinvestor.com
I'm not a TA guru, but I would expect that it will return to its 200 dMA (3800ish ) and trading around it in Sept. During earnings season, I expect it to retest or approach the bottom it made in early August (3500ish - 3600ish). I have no idea if the retest will find support or dive lower. That is my assessment purely from the chart. Lots of things could happen to change that assessment.
Believe it or not, IMO, the best indicator to watch is CSCO. It has failed to trade above 70 4 times since June. You will hear talk about how bad it will be if it breaks 60, but actually 58 is the price to watch short term.
.... and if it EVER closes below 50 .... I would seriously consider going completely to cash for 6 months or longer (except to play the volatility) !! IMO, CSCO below 50 will signal a temporary end to the bull market. This chart should make this extremely clear.
siliconinvestor.com
I thought this post was interesting, we will just have to see if it pans out:
Message 14355861
Regards,
Chris |
