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Sal of Trade Radar Sep 7, 2008 Email this article to a Friend  Printer friendly page

This post is to announce that the latest list of free stock alerts is up and available at Alert HQ. Each week we scan over 7200 stocks and ETFs looking for fresh BUY and SELL signals. We apply a combination of proprietary and standard technical analysis techniques to identify those stocks that are beginning to move.

And plenty of stocks sure moved this week! Unfortunately, the move was mostly downhill. Volume picked up this week and economic news was not comforting to the bulls. Retailers reported lackluster same store sales. Employment was down again and the unemployment rate jumped to 6.1%, surprising most analysts and economists. Talk of hedge funds getting shaky due to bad commodity bets didn't help the atmosphere on Wall St either. It was no surprise to see the major averages turn in losses ranging from 2.8% to 4.7%

Against this backdrop, Alert HQ still managed to find some BUY signals: 10 based on daily data and 15 based on weekly data. In an indication of how the pendulum is swinging, though, SELL signals by far outnumbered BUY signals. This we week we have 35 SELL signals based on daily data and 33 based on weekly data.

Stop by Alert HQ and download your free lists. The lists based on weekly data show those stocks that have exhibited some good follow-through after a recent trend reversal. If you want to be early in identifying the newest trend reversals, the lists based on daily data are for you. No matter which preference you have, there are bound to be a few stocks you will want to add to your watch list.

by Sal (Trade Radar)

Disclaimer:

Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests.

Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk.

There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital.