Monday, May 2, 2011

That Was Ugly

DNS -3, -9.5, -2. It doesn't sound bad but there lots of hits for 2, 3, and 4%. Watchlisters clobbered 5% or more were SLV, LOCM, CELL, SIGA, ANAD, WATG and HOV. Up 5% or more, OMN and FMCN.

I'm surprised trailing stop loss orders didn't start firing off. If we get another day or two like this, they will be.

Trades: none.

Reversal alerts: (7).

There's EXM which I'm already in.

For the contrarians  out there, there's Brazilian telecom TNE with negative analyst sentiment, with earning estimates adjusted down for the next two quarters, but recently revised upward for this year and next, yielding a forward P/E below 7. I do like the looks of the reversal pattern - I may invest based on the indicators alone.

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