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Charts courtesy of stockcharts.com

Saturday, April 21, 2012

Leader Charts

 Overall the leadership was about even last week, but under the surface we are starting to get more breakdowns. RGR was this week's biggest gainer, that came coming off a near breakdown the week prior. That drop had taken it right back down to support at the top of the gap, giving an entry point that was about the best you could ever get. While the move back up has not been spectacularly strong/ it was good enough for the biggest gain this week. I don't have much confidence in the target I projected for it, but considering how muted this move up is, it might be realistic.
 
 POZN was the second biggest gainer. This pulled back on Wednesday, and although it was a big percentage move (misleading me to believe it was finally cracking), in context with the overall move it was barely a mosquito bite. This one is way too extended to buy, but too low priced and volatile to safely short.

CRUS was about in the middle of the pack before it staged and epic collapse yesterday, taking the titile of the biggest decliner. It broke any siupport it had is probably headed for the bottom of the trading range it established in January.
 
AAPL was the second biggest decliner. This has pulled right back to the 50dma, normally an ideal buy point, and it very well could get a bounce here. By the way, when I was shorting AAPL on the way up, ny last stop loss level was 644.

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