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 Wednesday’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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looking to pick up BHI and MYGN. thoughts? IWM leading again, no way this drop holds.
Favor MYGN
Lot of tempting charts on the short side right now, hard to be patient but I need to see that bounce first..once that happens I am pressing momo namely LNKD, FB, Z, and SBUX