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Weekly Trading Setups

IPOs That Paid Their Dues

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IPOs have clearly been met with a different type of market than what we saw at the end of the last millennium, insofar as the number of new issues that have recently been slaughtered within their first few months after going public. Indeed, this shift in sentiment is part and parcel of the secular bear market that began in 2000, in sharp contrast to the go-go days of IPOs appreciating 100% in a single session.

That said, here are a few firms that have IPO’d within the past year or so and have stood out among the red-headed stepchildren. They appear to have paid their dues in a tough environment for IPOs and should be watched for continued strength.

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Add Feet to Your List of Fetishes

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Retail is a having a strong session overall, with the XRT up well over 1%. Within retail, the footwear specialty retail plays are particularly strong. Here are some charts of note in the space with my analysis

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Not Falling Asleep on the Gold Diggers

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The miners have been stagnant for a while now. However, their technicals have been slowly improving. I cannot blame plenty of traders and even investors for giving up on them at this point, as their impressive early-2011 runs are a distant memory. Gold and silver miners are strong this morning, and I am looking to add to an existing miner position that I have inside 12631.

As the session progresses, I am looking at charts of miners to see which ones are strongest, provided that the moves hold.

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