Weekly Review

Major indices closed up the week here the details:
Nasdaq +2%
Dow Jones+3,6%
S&P 500+1,7%


The chart below shows the major sectors performances in the last ten trading days compared to the S&P500.


Chart courtesy of Stockchart.com

Premarket Movers

UP
Medivation Inc(MDVN)
Century Casinos Inc(CNTY)
Citigroup, Inc(C)
Petrohawk Energy Corp(HK)
Barr Pharmaceuticals Inc(BRL)
DOWN
Advanced Micro Devices, Inc(AMD)
Semgroup Energy Partners L P(SGLP)
Gilead Sciences Inc(GILD)
ViroPharma Incorporated(VPHM)
Trina Solar Limited(TSL)

Follow-Through

The market showed a decent follow-through and rallied fueled by a drop in the oil prices. The oil closed around 4% lower. Sessions like these are pretty nice, as long as you take it for what they are:Oversold bounces. The bears could return pretty soon and drop the market again. Weak numbers from GOOG andMSFT in after-hour trading are not exactly the good news that the bulls was waiting.

NO PICKS TODAY
Chart Courtesy Of TeleChart

Oversold Rally

The CPI raised more than expected 1,1% reaching a scaring a year-to-year 5%. The news triggered a desperate oversold rally after a crazy premarket confusing action. The bounce was in the cards soon or later and could still have legs in the very short-term. But the just on average volume says that this was a typical oversold bounce in a bear market and nothing more. It is still too early to call for a bottom here.
Here an interesting chart:
Robbins & Myers Inc.(RBN)

gapped up to a new all-time high three weeks ago. The stock is moving in a volatile ascending triangle since then and could break out soon.
Chart Courtesy Of TeleChart

Watch The CPI

The stock market closed mixed yesterday after a volatile but anemic session. The bulls are still hoping for a bottom here and that´s maybe the reason why we are still in red day after day:No capitulation. The CPI today is a market mover, keep an eye on it. Consensus is 0,7% or 4,5% year-to-year...This would be the highest increase since almost three years.
Here an interesting chart:
AZZ INCORPORATED(AZZ)

broke out to a new all-time high three weeks ago. The stock is moving in a sideways pattern since then and could resume its uptrend soon.
Chart Courtesy Of TeleChart

Interesting Links

Oil and Natural Gas Stocks Head For Lower Ground

No Bottom Yet for Financial Stocks

Bottom's Up: This Real-Estate Rout May Be Short-Lived

The Numbers Speak for Themselves

What if gold gave a party and everyone came?

Ugly Action

The market gapped up sharply at the open, but renewed bad news in the financial sector changed the mood quickly with the sector dropping more than 6%. Major indices closed in red once again in a scary action. This bad environment could continue in the short-term with the fear raising day after day in the crowd´s minds.
Here an interesting chart:
Ross Stores Inc.(ROST)

is pausing near an all-time high and could complete a cup & handle pattern soon. Put it on your watchlist.
Chart Courtesy Of TeleChart

Economic Calendar

Here a quick view of the Macro data this week:

MON:None
TUE:PPI, Retail Sales, NY Empire State Index.
WED:CPI, FOMC Minutes, Crude Inventories.
THU:Building Permits, Housing Starts, Philadelphia Fed, Jobless Claims
FRY:None

Busy Week Ahead

The week ended with another disappointing session. The Dow Jones tested the 11k level nearing now to a 2-year low. This week will be extremely busy with a lot of earnings and the CPI-PPI (more later). Cash is king so far and start to build new positions now, the same which direction, doesn´t make any sense. The market will continue to offer nice opportunities for fast fingers in the short-term, but a small position size is still recommended.
Here an interesting chart:
FLIR SYSTEMS IN(FLIR)

printed new all-time highs two weeks ago. The stock is pausing in a bull flag since then and could resume its uptrend soon.
Chart Courtesy Of TeleChart

Last Week´s Picks

Here a quick review of the last week´s picks. Have a great Sunday!







Chart Courtesy Of TeleChart