Hawk’s Scan Sentry Report February 20
The bulls seem to be driving the American equities train right now, and they appear to have a full head of stem. The markets are making new highs and the economic data for the US economy appears to be improving. As noted in this publication several weeks ago, I am still quite bullish on American equities for the long term (6 months-1yr) but I will be prepared for short term bearish positions (several days) as the market presents such opportunities. Here are a few stocks that I am looking at this week.
For those of you who follow these reports regularly and study the charts, you may notice that this week I have added an automatic trendline indicator to the charts which draws the most current up-trendlines and down-trendlines and plots a dot when trendline breakout and pullback signals occur. If you have any queations about what the other indicators on these charts are showing you please go to this link (http://www.janarps.com/main/images/upload/BlogLegend.pdf) for an explanation of each of the tools displayed.
Now, here are some stocks that I’m watching for trading opportunities this week…
_____Longs_____
TAP
(I like the combination flag breakout and trendline breakout resulting in the resumption of the bullish Triple Trender).
BX
(After a pullback to the breakout price which is now support, note the Trend Exhaustion 1 OverSold signal along with the Pullback 23 signal at a pullback into the Triple Trender).
_____Shorts_____
PMC
(A nice Pullback 23 into a bearish Triple Trender near the down-trendline).
CLF
(Radar1-Fear/Greed and Radar3-Trend Strength have both just turned bearish along with the Triple Trender following a bearish Pivot Divergence. I expect it to test the lows around $57.00).
May the trend be with you,
Hawk
