DGI, the one stock giving a buy signal for a day trade today finished down .62%, a small loss and a small price to pay for very fine week. Although the stock indexes were up again – 6 days in a row – there were more signs of a pullback, or at least a pause, in the rally – only 14 of the 50 stocks on my nifty-fifty stock list were up on the day.
The day-trading stocks for today again scored with the market’s continued rally but a stall may be coming Friday.
Today’s basket of stocks from my nifty-fifty list — BBL, NAV, SKYW, BGFV, YRD, MU and FNSR (the leader highlighted on the chart below) — had five winners and one loser for a net gain of 1.8% for the day. That won/loss on stock day trades for the week stays just above 82%.
However, there is a clue to tomorrow’s possible action since there is only one stock – DGI – on the list giving a buy for tomorrow’s open. Forty-one of the fifty stocks on my list are on buys for the current market upswing (down from 42 yesterday). Often when one runs out of new stocks to buy the swing is ready to stall, and maybe fall. That comes with market indexes up 5 days in a row so a pause here will not be surprising.
Been a very good week for the bulls.
(Right click on the charts for a larger view)