Hawk’s Scan Sentry Report for Monday March 28, 2011
Welcome to Hawk’s Scan Sentry Report. This is Sunday night with a few stock picks for the week beginning March 28, 2011. But first, a little allegory.
They say that March comes in like a lion and goes out like a lamb. Well please, don’t confuse the weather with the financial markets; the only lamb in the markets is a wolf in a sheep’s clothing.
A few nights ago there were tornado warnings near the county wherein I was abiding. I could physically feel the effects of the rapidly dropping air-pressure, it was creating a sense of uncertainty in the atmosphere, kind of like the stock market throughout much of this month. Eventually, the barometer steadied and the wind blew enough of the clouds apart that a few stars were visible in the suburban sky, similar to the beginning of the recovery in the indexes before last week. So, I decided to venture out for a short walk. As I ambled along, the sky became clearer and calmer, kind of like last week’s rally in many markets, so I chose to venture a little further from my domicile. I stopped paying attention to the weather and focused my awareness on the perfumed fragrances of of the early Spring blossoms in the night. I was walking in olfactory heaven.
It began to rain gently… softly. Since I had extended my range several miles from home it seemed a good idea to turn around. Then, as suddenly as a panicked sell-off from an unexpected tsunami, the rain began pummeling my cap, my coat, and my trousers; but I had no way to get out of it. I was not prepared with an ‘exit’ strategy to get out of this deluge. Of course, I was soaked by the time I got home.
The moral? The market may or may not keep rising…. but, like a good boyscout, ALWAYS BE PREPARED with an exit strategy!
So, this week I performed my scan looking for recent Pullback 23 signals (both long and short) on the weekly charts. I then took that list of approximately 75 symbols generated by the scanner and placed them onto my TradeStation RadarScreen with all of my Scan Sentry tools applied, to see what I could find that looked like interesting entry possibilities for early this week. Below are a few that I identified through the technical analysis made so much easier by the Arps Scan Sentry tools.
PNM PB23, Flag
APWR PB23, Flag
All of these symbols showed recent signals in the Trend Exhaustion 1 tool.
May the trend be with you,
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 .