Five Solid Stocks Today, Any Way You Slice It

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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BlackBerry may very well be setting up for another short squeeze higher after this 20-day moving average pullback. The stock still has a ton of work to do to reverse its long-term downtrend.

However, the relative strength today is impressive, with plenty of shorts in the name to fuel an upside move over $10.

And the soft commodities continue to spike, as seen on the DBA ETF, second chart below.

As a group, they have now moved back to their declining 200-day moving average (yellow line), though. So, I would expect them to slow down soon. If we see another immediate surge in strength here, ignoring overbought conditions in coffee, for example, it could be seen as evidence of a major bottom at hand, in lieu of merely a sharp bear market rally.

What are you trading this morning?

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Assorted names like KORS YUM are gapping up violently this morning, after earnings.

However, the broad market is experiencing a relatively subsided bounce when compared to the heavy selling we saw yesterday and in recent weeks.

Microsoft, for example, got bulls excited with a move over $37 this morning, only to sink into the red as I write this.

While the VIX instruments are red, they have not giving up the ghost of recent gains.

Overall, I suspect a better long setup would have occurred if we gapped down at the open this morning, instead of a modest bounce. Nonetheless, let’s see if bulls can get the ball rolling uphill.

I am keying off the 30-minute small cap ETF chart, below. Note the potential for another bear flag down here, though bulls want a move over $110 to help to negate that.

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First, a reminder that I am still stalking natural gas for another long entry (most likely using UGAZ again, for leverage, inside 12631). The first chart below shows the straight-up ETF, which I would be looking for strength over $25. as a trigger.

Next, for perspective on how steep the bull has been, especially since 2013, consider the daily then monthly timeframes of energy giant Conoco. While the daily looks badly oversold, well below the 200-day moving average after heavy selling, the monthly is still above its 20-period moving average. When the rubber band snaps back, there is usually a ton of air underneath…

What is at the top of your watchlist this morning?

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Here are some actionable short ideas on this list, especially if the market sees another day of weakness.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Tuesday. If you are not comfortable shorting (especially in a bull market), there is nothing wrong with taking a pass. Keep those cover-stops in place. Nonetheless, a good chunk of readers are always looking for short ideas.

Members of The PPT can click here to view and save this “Titanic” Screen, as I named it when I created it a few years back. The screen isolates stocks vulnerable to further weakness.

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CSOD is still a decent long setup if we see broad market strength, though there certainly are not many high quality longs to choose from currently. As you know, I am more interested in inter-market opportunities on the long side at this point in time.

On the short side, PNRA X both are not yet extended to the downside. If they break below their respective bear flags, highlighted below, I would consider them as shorts.

Drop me your top tickers overnight.

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