Stocks surged into the close on Friday, no doubt due to short covering. The S&P 500 has broken out of this triangle pattern, and looks like it has a destiny with the 200-Day MA. From there, it could meet some resistance, but there is good support at the 875 area.
There were some triggers from Friday, as well as some from Thursday that I havent posted. Let’s look at some of the triggers from the last two trading days:
CXO moved, as oil stocks surge higher.
GOOG also gained.
AAPL looks similar to GOOG, it triggered on Thursday.
Also triggering on Thursday was NTES.
Not all triggers have held on. Both TTM and DLTR triggered but gave back their gains.
There was a fantastic move in a recent trigger, IMGN. As I have mentioned in previous posts, I have been trailing my stop just below the 50-Day MA.
Another recent trigger that moved bug on Friday was RBY. This may become my biggest regret in 2009, as I sold this for a 20% gain, leaving a lot of money on the table.
Another recent trigger that has been doing well, although started slow like IMGN, is LXU.
TNDM, VPRT, SYNA, MFE
Good luck and good trading!
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