Good day, Michael
A few words of mumbo jumbo ...
Re: "Stocks above or slightly below 50-day emas: ADBE, AMGN, ASYT, CA, CDG, CIEN, CSCO, CTEC, DD, DO, EMC, GE, GLX, HAL, IMNX, IOM, HAL, LOR, LU, MSFT, NE, NXTL, ORCL, PAIR, PFE, RIG, SYMC, TRV, WLA ... those stocks should be good for a trade in a snap-back rally because I consider they are still technically intact"
If a good bottom is to set, I don't expect to see snap-back rallies. The amplitude of the moves, both up and down, should attentuate as the market moves into a consolidation pattern. 50-day emas are nice metrics but stocks that are topping will bounce off that average once or twice and ooops ... it a ways down to the next major support.
Re: "Stocks around 200emas....I like these stocks best because they give good mid-term returns if picked carefully. Money flow could help a great deal in distinguishing winners and potential DSTs: BAY, CAT, CCI, DD (emas are converging), HWP, NN, TLAB, ORCL (emas are converging), ORFR."
Stocks hovering about their 200-day emas have stories about to unfold or are under a cloud of uncertainty and the market is waiting to hear. To avoid potential DST, accumulation as measured by mf could be an aid but be sure to research the reason why the stocks are hovering at their 200-day mavs in the first place. Mf can turn on a dime.
As for stocks under deep water, tell me about it. We all own some of those. Oh, is ASND so deep-sixed, it didn't even make the under-deep-water list?? |
