Anyone Want to Get on a Bull Right Now?

//Anyone Want to Get on a Bull Right Now?

Hawk’s Scan Sentry Report for August 10

Welcome to Hawk’s Scan Sentry Report.This is Wednesday night and I wanted to drop you a quick note with some of the stocks I’m looking at to buy tomorrow or in the near term.  I know that sounds pretty scary right now but we are, after all, in the business of risk. If you decide to trade in these times you should, of course, adjust your position size and stop loss to accommodate the current volatility in the markets.

Looking for interesting trading opportunities,  I scanned for stocks using the TTB TE 1 (R2) tool. I set the Use_OB/OS to true and set Ob-zone and OS-zone both to 0. Then I looked for stocks where this indicator crossed above that line in the last 4 days.  This found  for me stocks which, in the midst of the recent crash showed price acceleration to the upside. Not surprisingly, many of the stocks this scan found were companies which mine for and deal in gold. That seems like a sector which may be able to grow in this global economy.

Here are some particularly interesting ones I found.

ABX

(Note the Flag pattern developing and the previous divergence in the Radar1 Fear/Greed indicator)

EGO

(Note the Bull flag which just broke out and the increasing Radar1 Fear/Greed indication).

AUQ

(Note the little rising valleys in the Radar2 Price Acceleration Oscillator).

One of my other searches was to look for stocks that did not dip to their 12 month lows during the recent crash. Here are some that I found.

MXWL

(Note that this is still above the Arps Trender and note the divergences in all three Radar tools). 

ELON

(Note the divergences between the price lows and the Radar1Fear/Greed and Radar2 Price Acceleration indicators )

REXX

Take caution;  please note that I consider these all bullish opportunities in a bearish market. There are plenty of bears out there right now; but I will let them offer their own selling recommendations elsewhere.

Again, please careful and disciplined,

Hawk

Jan Arps’ Traders’ Toolbox is not an investment advisory service nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. Examples presented on this site are for educational purposes only.  It should not be assumed that the methods, techniques, or indicators presented in these examples will be profitable or that they will not result in losses. There is a high degree of risk in trading.  Readers using this information are solely responsible for their actions and trade at their own risk. Readers should always check with their licensed financial advisor .

2018-01-08T08:33:24+00:00August 10th, 2011|Hawk's Picks|