Hawk’s Scan Sentry Report for Monday March 14, 2011
Welcome to the brand new Scan Sentry Report. This is Sunday night with picks for early this week. Remember these are meant to be short to medium term swing positions and not necessarily day trades. These stocks are chosen solely on the basis of the technical analysis performed by the Arps Scan Sentry tools and are not meant to reflect any particular fundamental or insider knowledge.
Well, we finally got the correction in the American indexes for which we have all been waiting; and the obvious question now is, how serious is this sell off? The ES showed a Trender Pullback signal on the long-term Trender and managed to cross but close above the 50 Moving Average. So, although there is obviously weakness and indecision in the general market, this could be viewed as the best buying opportunity we have had in a long time. Nonetheless, it might be wise to include a short position or two in order to hedge your portfolio. That is what I have chosen to do. To find some of my favorite set-ups I inserted my general watch list into the Scan Sentry Toolkit to see what looked interesting.
So, through the laborious efforts of technical analysis made so much easier by the Arps Scan Sentry tools, I have come up with these ideas to look at for entry possibilities for short term swing trade positions.
Here are the picks…
Symbol Reason:
(longs)
BEXPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Outside Bar,TE1
MMCÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PB23, Triple Trender alignment
(shorts)
DOW-Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PB23
All of these symbols showed recent signals in the Trend Exhaustion 1 tool.
May the trend be with you,
Hawk
BEXP
MMC
DOW
