The filter that found TRW is screening for stocks that closed at the HOD on a 10% volume increase over the previous day. There are a few other stocks this screen returned that look interesting to me. Q, IRIS, TUP, CAR
I trade full-time while simultaneously working full-time. I provide commentary detailing the pitfalls and profits that come while fulfilling the responsibilities of a senior management position and trading at the same time.
Sunday, June 10, 2007
Beautiful Bounce from 50-Day Average
While screening with Stockfetcher, I came across this chart for TRW. It had a nice bounce from its 50-day average, and closed at the high-of-day. The pullback to the 50-day is often reported to be a favorite buy-signal for institutions. This will be interesting to watch to see if it can continue its uptrend after such a long run. One strange statistic about TRW is that the short interest in May was only 600K. I may throw some change at this one as I like trades that have a clear place where the trade fails. For this trade, the lower Bollinger Band (not shown), the 50-day average, and the whole number 38 must hold in order for the trade to not fail.
Hey woodshedder smsi is testing the long term trend line, check it out.
ReplyDeleteInteresting. I haven't followed the company in a month or so. What is really upseting is that big selloff was caused by an analyst downgrade. Nothing more. Scary. I don't know what has transpired since.
ReplyDeleteWhat I find interesting and strange is that the defense industry pretty much as a whole shows the same pattern - check SAI, LMT, BA, NOC others.
ReplyDeleteI'm not sure what that means.