Troubled Stocks?

Are these stocks headed for more trouble? If so, are they setting up ideal short opportunities? Are they past their ideal shorting opportunity? Take a look for yourself.

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I was running a basic screen this morning looking for stocks above $15 per share that were violating their 200-day moving average on above average volume. The daily volume must be at least 50% larger than the average over the past 50 days. The current price must be within 5% above the 200-day moving average or 15% below the 200-day moving average.

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Top Ten Price Declines (Monday morning trading):

  • (NVR) N V R Inc
  • (MMP) Magellan Midstream Ptnrs
  • (WPZ) Williams Partners Lp
  • (FTEK) Fuel Tech Inc
  • (PAA) Plains All Amer Pipe
  • (TPP) Teppco Partners Lp
  • (BPT) B P Prudhoe Bay Rylty Tr
  • (JLL) Jones Lang Lasalle Inc
  • (KMP) Kinder Morgan Energy Lp
  • (GSF) Globalsantafe Corp

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Top Ten Decliners on Largest Volume (Monday morning trading):

  • (FTEK) Fuel Tech Inc
  • (NRGY) Inergy L P
  • (MMP) Magellan Midstream Ptnrs
  • (IJJ) Ishares S&P Mdcp 400 Vl
  • (BTE) Baytex Energy Trust
  • (BPL) Buckeye Partners L P
  • (XOP) Spdr S&P O&G Expl
  • (EPD) Enterprise Products Ptnr
  • (TPP) Teppco Partners Lp
  • (PGH) Pengrowth Energy Tr Unit

The most interesting stock on the list for me is JLL as it has been a market leader for years. The beginning of the end of all great bull runs can be pinpointed to the collapse of many of the great leaders during that period. I have watching many of the top stock leaders of the past year starting to reverse their fortunes and correct back down towards their 200-day moving averages and in some cases, violate the line for the first time several years. Is this a correction or the end? I don’t know but I’ll trade the setups!

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Interesting times!

Comments

  1. Interesting rally the market had yesterday – but it makes me think of something Elder says in Trading for a Living, he says that “Mondays are typically the best day in a bear market.”

    I’m interested to see what happens over the rest of the week.

  2. Kris,
    You are correct and I don’t buy into the hype yesterday as my latest post explains.

  3. Tom Kirby says

    Hi Chris, I,ve been reading your blog for a month now. Any who, There are two things I don’t understand. 1. In the stock chart JLL you refer to the violation of the 200 MA, but when I look at the top left of the chart I see your plotting a 10 MA & 40 MA. 2. I see you refer to the 50 day MA a lot so why are you using the 40 ma?

    Thanx, Tom

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