If you are looking for some (quick) support buys here, a good algorithm screen to have, courtesy of The PPT, is one I made called “12631 Quick Bounce Plays.”
In the screen, I am looking to isolate stocks with positive daily Hybrid PPT scores, but negative weekly ones.
Thus, they are ripe for a quick bounce as the momentum seems to be turning, if only for a bit. I also screen for PPT Relative Strength scores, as well as volume and % from 50 day moving average.
Members please click here to view and save the screen
Here are the readings as of Monday’s close. Remember, we are talking about short-term flips here, not high quality, multi-week swings. Keep those stop-losses in place.
(Click on image to enlarge)
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Chess what do you think of RMBS and AMGN.
Looking for RMBS to break $12 before it gets going and AMGN I’m looking for a bounce off the 200 day?