Nice Bearish Day… Time to go bull hunting?

Comments:

1. I couple of items I like at CEPH, FFIV, HOG (can you believe it!!), RCII, maybe UA, and ADBE. I haven't look any further than the charts but its a good place to start.
   
   Mojo      by Mojo
   
2. Hi Mojo,
   
   What are the time frame and your search criteria and what tool do you use?
   
   Thanks,
   
   eric      by ejliu
   
3. The only longs I have are in the oil sector.
   
   There have been some bearish volume patterns recently. Last weeks rallies seemed to be the product of lack of sellers as there were no accumulation days. And the down days were distribution days. Today's action was defiantly distribution - on both NYSE and NASDAQ. Plus weakness in financial stocks and commodities seem to be putting in a bottom. At least a retest of July Lows?
   
   
   Something I have been looking into on the long side is WMT - maybe a nice synthetic covered call. Very strong stock that isn't a crowded theme like commodities
   
   Just my two cents.      by jcwolfe00
   
4. Here are a couple of names from my bullish watch list. From my perspective, yesterday's action did a lot of damage to the daily index charts with the higher low of SPY and QQQQ being taken out. This price action means that neither SPY or QQQQ are now in an uptrend on the daily chart. I would note that the negation of an uptrend is not necessarily the beginning of a downtrend - you would need a series of lower lows and lower highs to meet my working definition of a downtrend.
   
   LMT - Entry over 116.05 with stop at 114.49. The other side of this trade is that LMT has had an extended move and may need to pullback or consolidate before moving higher but I will be watching it.
   
   GENZ - Entry over 83.26 with stop under 81.50. The other side of this trade is possible MACD divergence forming.
   
   PDLI - Potential breakout with entry over 12.05 and stop under 11.65
   
   VPHM - Another extended move but there is an entry point over 13.76 and the stop under 13.46
   
   Just a few items that will be on my watch list over the next few days. I have not looked at the option spreads to see if any of these are suitable for option trading. As always these are not recommendations and you need to trade at your own risk.
   
   Good Trading,
   
   Doxa      by doxa
   
5. Hi guys,
   
   I typically look for stocks with high volume, relative strength towards the bottom but increasing. Currently I am watching CPST, CLR, and HK.
   
   ejliu
   
   Sorry, CPST is a 2.6 dollar stock. I wouldn't be interested myself.      by ejliu
   
6. Eric - I just use the prophet charts and thumb through my watchlist looking for good patterns.
   
   CEPH is still at the top of my list. HOG is not with yesterday's close and today's follow thru.
   
   Mojo      by Mojo
   
7. How about OSIP and GILD?      by Whiskeywoman
   
8. OSIP is pretty weak today having fallen through the 8 and 21 EMAs.
   
   Same for GILD (and most of the Bios).
   
   Maybe wait for an oscillator upturn? (Did he say "oscillator"??? No WAY! Yes WAY, but only for channeling stocks.)
   
   Mojo      by Mojo