Stock Investors Follow the Leaders
Companies / Company Chart Analysis Dec 17, 2010 - 03:50 AM GMTBy: David_Grandey
Leading stocks have pulled back to areas of support — offering investors and traders the opportunity to buy them at low risk entry points. Following are just a few of the leading stocks that we track — our complete list is available to our subscribers.
While scrolling through these names a lot of them have little green circles in the mid-November time frame. What we want you to key in on from an educational standpoint is that in almost everyone of the follow the leaders that WAS the right time to pick them all off while the market was “In A Correction” as IBD would put it.
What you’ll also see is that of most being in Pullback Off Highs (POH) mode and that a fair amount of them were within trend channels and tagging support levels with a fair amount of them tagging the 50 day average at the same time. That WAS the absolute best time to pick these names off which as you who have been here during that time saw us doing exactly that with a lot of these names.
For us, it’s how the market talks to us, all via chart pattern recognition.
Established Kingpins
NFLX
AAPL
AMZN
PCLN
BIDU
CMG
The best of the list are the names that are in clearly defined uptrends, above the 50 day average that are Pulling back Off their Highs (POH).
The beauty of this list is that it gives you a bigger picture sense of what the movers and shakers are doing in the market today.
For those who are new here, the name of the game with this list is that it shows us where the action is and it also shows us what to stay away from with regards to leading stocks IE not chasing them.
Once we see an issue that is setting up a pattern we can work with long or short it then moves to the appropriate watch list in our regular newsletter. Right now everything is on the long side and there will come a time where the only thing here will be all short sell candidates.
By David Grandeywww.allabouttrends.net
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David Grandey is the founder of All About Trends, an email newsletter service revealing stocks in ideal set-ups offering potential significant short-term gains. A successful canslim-based stock market investor for the past 10 years, he has worked for Meriwest Credit Union Silicon Valley Bank, helping to establish brand awareness and credibility through feature editorial coverage in leading national and local news media.
© 2010 Copyright David Grandey- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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