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About The PPT

Coming in Like a Lion

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It is often said that the month of March comes in like a lion but goes out like a lamb. While that phrase alludes to the weather, it will be interesting to see if the market’s recent increase in price swings persists in the new month now upon us. Overall, there is still little doubt we are in a strong intermediate-term uptrend. But the violent indecision is likely setting us up either for a deeper correction than the 3% pullback we have already seen, or instead a nasty bear trap before we head on higher. I want to be prepared and nimble enough for either scenario.

Regarding the long side, here are four stocks which have dominated the month of March for years on end. Courtesy of The PPT algorithm’s seasonality feature, you can see the average return in the month of March, what percentages of the time in March they were up, and the number data points.

Click on image to enlarge.

PPTMARCH

 

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Following the Aruba Network of Stocks

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NOTE: chessNwine’s Weekly Strategy Session has been published and sent out to members this week. I am confident that you will find this week’s version to be of tremendous value in your weekly preparations for the market. It is never too late to sign up at a very reasonable price, so please click here for more details about subscribing or even making a one-time purchase (the subscription plans offer much better value over time). As a reminder, members of 12631 receive the Weekly Strategy Session at no additional cost, as it is included in their membership.

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Led by Aruba Networks (ARUN), many enterprise and computer peripherals had strong price action on Friday. Stocks like EFII and UNXL are particularly interesting on any further strength this week, given their solid chart setups.

Courtesy of The PPT algorithm, here is a list of some of the most impressive upside movers and shakers last Friday. I am cross-checking these names with their respective daily and weekly charts to identify the very best potential long setups, upon further market upside.

PPTPERIHPERALS

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Lighting Up the Screens

My “12631 RELATIVE STRENGTH” saved screen inside The PPT algorithm seeks to identify stocks which have seen a surge in their respective PPT Daily Hybrid Scores (combination of technicals and fundamentals) while suffering a negative Weekly Hybrid Score from the past several days of trading. In essence, this amounts to a positive divergence which, when cross-checked with the 12631 way of filtering stocks through human technical analysis, yields a focused and cogent list of issues emerging from consolidation or turning back higher after a recent pullback. To put the icing on the cake, I filtered the screen to make sure all stocks had a very strong Relative Strength Score (according to The PPT algorithm).

Here are tonight’s top fifteen results, with some quality charts there to have in mind, should the market’s bullish theme continue.

Members of The PPT and 12631 can click here for the screen.

(Click on image to enlarge)

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Deep Underwater

The main trap to avoid in 2013 has been building directional short positions on the market, and building them as the rally continued. Those shorts are now deep underwater and hoping for a top as a reprieve.

In the short-term, I am still watching the 1509 level on the S&P 500 Index for resistance. Above there, and 1523 is within reach.

Until then, the trend higher is in control. Here are some of the top short squeeze plays today from one of my favorite screens inside The PPT.

(Click to enlarge)

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Keeping the Bull Energy Up

We know that rotation is the lifeline of a bull market, which forces us to consider Tuesday’s strength in energy stocks even as the Nasdaq, small caps, and transports generally lagged. On the weekly chart of the sector ETF, the XLE (first one, below), we can see a multi-year symmetrical triangle breakout to begin 2013. The key, of course, to a major breakout first and foremost is whether it has staying power, or instead reverses lower in a nasty bull trap.

With this in mind, there are a slew of individual energy stocks I am watching for strength throughout the rest of this week. While I would not chase an extended energy stock like ConocoPhillips (COP) up here right now, I would certainly consider a long swing trade in Continental Resources on further strength, among others. On the second chart below, consider the multi-year look of CLR as it threatens to break above major resistance and rally back to all-time highs.

The setup with the overall market right now is such that bears are arguing for a broad correction, while bulls wants to see the rotation thesis persist as the indices grind higher or sideways. I believe watching the bevy of, currently, non-extended energy stocks is an excellent indicator of which side wins out. And the third and fourth charts, below, of the daily timeframes for other energy/driller/services stocks should likewise flourish in a continued bull rotation. They might need more time to base or form bull flags, but generally speaking recent gains should largely be held intact. Furthermore, in order for me to actually take the trades I need to see further actual strength.

Member of The PPT and 12631 can click here for my “12631 Top Energy Performers” saved screen for other ideas in the space, sorted by Daily Hybrid percentage change.

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