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Charts courtesy of stockcharts.com

Saturday, October 12, 2013

Leader Charts


The leadership list reflected the overall weakness in the market this week, but under the surface there was some very constructive action. Overall the leaders were down about half a percent,with more decliners than gainers. CRME was the biggest gainer, with another big move this week. This has almost perfectly traced out the trading range projected for it by the pivot points, but that does not mean it is done. However, this will at some point settle down, both price and volume wise, and at that point it would be the time to take a good look at it. Right now it is a casino, but if it really does have good numbers, this might be the beginning of a long term move.
INVN was the second biggest gainer. This seems to show up on this list week after week, and looking at the
price relative line, you can see why. This one barely budged when the rest of the market as getting crushed, then popped ou to a new high when it reversed on Thursday. This one may not rack up big gains in the short term, but for the last 6 months has been grinding profits at a pretty steady rate.


OMER was the biggest decliner. This is another one that has arguably traced out it's trading range, has had a sudden burst of very high volume, and is making huge moves in both directions. This is another one that, if it has good numbers, may be in the beginning of a much larger long term move, but in the short term, will make unpredictable rises and drops. There are people that are good at trading that kind of move; I'm not one of them.


HLF ws the second biggest decliner. This broke the 50dma on Wednesday, and has not been able to get back above it, which would technically make it a possible short candidate; however, this is already the most heavily shorted stock on the leadership list and could easily get squeezed. Either way, I don't trust this one and would touch it with monopoly money.


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