Five Stocks You Can Enjoy with Chopsticks

Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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My crew and I are taking on the bank, looking to make a score.

To follow-up from a blog post a few days ago, I added to my Citi short just now inside 12631. I have a 3/4-sized position now, playing for the weaker big bank technical setup, seen on the daily chart, to resolve sharply lower.

Note that the stock now has declining 50 and 200-day moving averages.

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The weekly chart for wake-me-up-before-you GOGO is sporting a falling wedge pattern which looked to have resolved higher last week. After earnings, the stock is lower today.

However, the larger point is something I referenced in my video market recap last evening: Just because a steep downtrend like has been broken to the upside does not mean it is smooth sailing back to new highs. I know 2013 made it seem that way. But you can generally expects tons of backing and filling, if not a rollover, even when downtrend lines are breached. Indeed, we have seen the flip side of this during the bull market, where just because steep uptrend lines were breached did not mean the bull was ready to be put to rest. Something to keep in mind with names like MCD SBUX, etc..

What are you trading this morning?

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Despite the swoon in copper and emerging markets, updating the high yielding Brazilian utility CPL, below, we can see that February’s lows are still being held.

The monthly chart shows February printed a hammer-like, bottoming candlestick after a prior, very steep downtrend. And March is on pace to be an “inside” month, within February’s price range. This is a decent start to the long-term thesis being playing out. Stay tuned for more updates.

Which stocks are at the top of your watchlists this morning?

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Mark Twain has described a mine as “a hole in the ground owned by a liar.” –
This quote was attributed to Mark Twain in The Autobiography of John Hays Hammond (Farrar & Rinehart, 1935), p. 97. Although Hammond knew Twain personally, there is no other authentic record that Mark Twain made this statement. (source)

Given the recent strength of gold miners, here is a saved screen I made a few years ago to file away if the move has legs.

Members of The PPT can click here for my “12631 MARK TWAIN’S LIARS” screen, showing which miners have the highest score according to The PPT proprietary algorithm for Relative Strength.

Below are the most recent readouts.

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With similar names BDBD DMND squeezing higher of late, keep an eye on HAIN as a long idea for Thursday on any further strength. The daily chart, below, shows an overall uptrend still intact and decent, tight basing action the past few days.

On the short side, some ideas on weakness from my video market recap: BID C COH COP.

Drop me your top tickers overnight.

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