Strength Starting To Fade?

At this point in time, the opening bell's strength is starting to dissipate. It will be interesting to see if we can even close in the green. A strong close at this point would signal the start of a new leg in the rally. Most likely, we will be trading sideways for a bit before a clear direction becomes evident.
One indicator that may hinder a new rally is the VIX. It is holding onto support at its 200 day MA. Only a powerful catalyst would allow the VIX to be pushed below this support line. It would also take a great deal of institutional buying pressure to keep it under that level long enough for us to experience a rally.


Watching: FVE, GMCR

Watching Patiently

Keep an eye on: INFN, ISSI, PKT, SIMG


New Buys: SIMG ( in at 4.26)

Trade Alerts

New Buy Candidates: LIWA, TRMA (oversold bounce/bottom fishing candidate)

Finally, Back Above Support

It's been a rough couple of months, but the major indexes look like they may have reached a support level above the 200 Day MA. The multi-week correction was a necessary cleansing and resetting of the uptrend. The new potential uptrend may yield new winners but it may also feature continuations from stocks that are still currently showing strength (CRUS, IDT, etc).


Top Stocks: CRUS, CVTI, DVAX, IDSA, IDT, KEM, MELI, NTSC, SPRD

Trade Alert

New Buy: NXTM (in at 15.35)

Trade Alert

New Buy Candidate: FTLK (in at 7.73)

Watching: CYT, URI