Quick Bounce Plays

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 Friday’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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In addition to the FB long setup, a good deal of eyes are also on AKAM for the weekly chart bullish ascending triangle breakout setup, seen on the first chart, below. If we see the bulls run the market this week, I suspect Akamai benefits from chasers.

And on the short side, I am still eyeing General Motors for a move below $34 from a vulnerable chart pattern, second below.

Drop me your top tickers overnight.

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The following is a video I made back in 2012, worth re-posting for educational purposes.

Back later tonight with some current ideas and analysis.

Hat tip to @walkslow4 on Twitter for remnding me about the one.

Direct Vimeo Link Click Here

I saw Calvary (2014) in a theater last weekend.

The independent Irish film has basically the same cast and crew as The Guard (2011), one of my favorite films of the past five years.

The great Brendan Gleeson leads the charge again, this time as a well-meaning priest caught up in a drama-filled small village by the sea.

Overall, the film hits the right notes of weaving the serious parts of the storyline with Irish wit. I highly recommend it.

Direct Vimeo Link Click Here

For those of you who missed it, or would like to re-watch it, this is a good one to enjoy on your Saturday morning.