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Monday, May 22, 2006

Searching For Strength

Another round of selling to start off the trading week.

My intraday scans are turning up very little (just more pain) but I am keeping my eyes on the tape while juggling a few other tasks (i.e. catching up on my reading, answering email, running a couple of longer-term screens, etc.) After market corrections, I always like to keep my eye on stocks that are setting 10-day highs (i.e. searching for strength amid weakness). As you can see below, the list is a fairly small one:

Es1

If turnaround Tuesday lives up to its reputation, it should be one to offer lots of rebound trading setups. How stocks perform in the final trading hour today will provide us with some clue to whether there is any conviction left in the buy-the-dip crowd.

Posted by Kirk at 12:43 PM in Analysis | Bookmark | Feeds | Link |


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