While a plethora of the marquee momentum names are beyond high probability entry points for long swing trades (although a few short days of sideways action could easily change that), the agriculture chemicals are not extended. RaginCajun wrote a piece about the ags last week, and they have continued to base in a bullish manner. When I see how well set up some of these charts are, it makes me want to put on the overalls and live the life of a farmer, offering coffee to single-engine plane crash survivors who come down in my fields.

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Something that The Fly does better than just about anyone else is stick with the courage of his convictions when it comes to a trade like WNR. If you are wondering where The Fly’s conviction comes from, look no further than inside The PPT service. The PPT features his proprietary algorithm, which is a highly efficient way of researching via quantitative analysis as well as other factors.

One great screen that The Fly created a while back is called the “Leaders on Dips.” This screen isolates stocks that are down for the week, but are still up over a one year period, and have excellent growth. Here is an example of today’s readings, which should be appropriate given the tape.

Click on image for full size.

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[youtube:http://www.youtube.com/watch?v=dxBvUqLs_eU 550 412] __________________________

The stocks of the homebuilders are still filled with numerous shorts, perhaps quite reasonably betting that the continued massive supply in the housing market with quash the construction of new homes. Despite that seemingly logical thesis, the price action of both the broad market and many of the homebuilding stocks is telling you that, while those intellectual shorts may very well impress you at an effete cocktail party with cogent and focused arguments, they are about to get their finely manicured faces ripped off.

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The electronic stores of $BBY $CONN $GME $RSH all have similar chart setups here, threatening breakouts from sound technical bases.

Here the The PPT algorithm readout for this industry. Click on image for full size.

Top Idea: CONN

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I like the following regional airlines on strength.

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