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Saturday, March 23, 2013

Leader Charts

Overall the leadership was dead even for the week, with a few more decliners than gainers, but the gains were a little bigger. CPSS was again the biggest gainer, and after this week, is now probably the strongest stock in market. This is a steady riser, and is offering a lot of buy points. The prior two pivot points project a target of 11.90: it is unlikely to stop there.

YHOO was the second biggest gainer. Last Friday (blue arrow) it was near the bottom of a pullback, and spent this week bouncing back up. It did get through the prior high yesterday, but not on breakout type
volume. The target here is 24.90, which is pretty realistic. The price relative line here is quite a bit weaker than the prior chart, but is not bad, either.  I would prefer this one on pullbacks, but this may not be a bad buy point right here.

CLR was the biggest decliner. I have been looking for pullbacks to the 50dma, and this one did, but the drop is steep and the volume way too high. This might get a bounce here, but I think that is a low probability right now.

RES was the second biggest decliner, and this one is more like it. The pullback was longer and shallower, and the volume pattern, while not perfect, is certainly better. This has already hit the 50dma and bounced up, and this may continue. This is about as good an entry point as you can get, with a stop just below the 50dma just in case. Thi only problem here is the price relative line: it was dropping during the pullback.


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