MA & V, Momentum Cashflow

MA broke below the neckline today, closing below it. Looks like a good entry to the downside.

V is still trading in its wedge. No entry yet for swing traders.

I don't have time to go through all the following, but from my scan which looks at stocks that have a lot of momentum and cashflow (negative & positive), here are the ones I like:

Note: all these stocks are above $100.

NEGATIVE (DOWNSIDE) - most negative to least negative cashflow:
- RIMM (would be nice to see go to 93)
- AAPL (less clear at a quick glance)
- PCLN (lots of room to the downside)
- MOS (compression, can't tell which direction it really wants to go)
- MA (broke the H&S neckline going down)
- MON (looks like a "shrug", where the shoulders are higher than the head, bearish as it broke the neckline)
- CF (looks interesting; Friday had huge buying volume. Not sure why. Still looks bearish)
- ICE (looks maybe it could bounce here - possible support?)
- X (165, 147 seem likely targets to the downside)
- STRA (bearish engulfing, but selling volume doesn't match, so we have to wait and see)
- CME (looks at support, bounce?)
- GOOG (bounce here or go to fill the gap? Filling the gap would be nice as that's 60+ points down)

POSITIVE (UPSIDE) - most positive to least positive cashflow:
- CLF (trading in a channel, so be careful to the upside)
- FSLR (maybe be attempting to form H&S)
- RTP (if it breaks through today's high, 513, 557 are targets to the upside, otherwise, it could turn from where it's at now)
- SLB (at resistance)
- ATW (way in overbought territory)
- BG (116 is 50% retracement, which it may do this as it's had 5 days near the same lows -- putting on the brakes)

I don't see any more upside plays. We are at a pivotable point on the S&P. If it breaks where it is going down, that's VERY BEARISH (closing below 1270). Go bears!!!

Happy Trading.

Oh, as a side note, today as long as I strictly adhered to my trading strategy, I did fairly well. I was about 80-90% profitable on trades and costing trades were very small. When I deviated, costs were HUGE. Stick to the trading strategy and have it explicitly spelled out!!!

Get your trading plan together and adhere to it. However, you have to have a good trading plan with good trading strategies -- proven strategies that can make you money.

NOW Happy Trading!!!
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