Al and all,
Relative Strength is one of the most important tools that p&f chartist's have. Stocks that give new RS buy signals in this environment are good candidates to look at for potential buys. Conversely, stocks that give RS sells with the NYSEBP in Bull Alert status should be evaluated carefully. Chartcraft always stresses the importance of paying attention to stocks that have been bearish on their RS charts for a long time that give new RS Buy signals. Over the last two weeks, stocks that have been bearish for a number of years have turned bullish on their RS charts. I've listed some of the recent RS Buys and Sells below.
RS Buys: American Power Conversion (gave RS sell 6/94), Exxon (11/93.....how 'bout that! DWA's RS chart does not confirm this RS Buy), Pitney Bowes (12/94), Southern New Englan Tele (7/90), Wells Fargo (7/96), Genzyme (3/96), Imnet Systems, Life Technology, Lincare Holdings
RS Sells: NationsBank (had been on an RS Buy since 7/96), Phillips NV (3/94), Praxair, SLM Holding (1/96), Sherwin Williams (1/91), Sunstrand (1/92), DLJ (4/98), Linear Tech (9/97), British Steel (8/93), Starbucks (5/96), Wetseal (3/98).
Take care,
Bruce |
