Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: 2013-05-19

Saturday, May 25, 2013

Johnson Outdoors - Barchart's Chart of the Day

Summary:

Johnson Outdoors (JOUT) is the Chart of the Day. The outdoor recreational equipment manufacturer has a Trend spotter buy signal and 72% technical buy signals. In the last 20 trading session the price advanced 15 times for a 5.33% gain.

Article:

The Chart of the Day is Johnson Outdoors (JOUT). I found the stock by sorting the New High List for frequency and then used the Flipchart feature to find the charts I like. The stock has both a Trend Spotter buy and 72% technical buy signals. The Relative Strength Index is 57.08%.

The Company global outdoor recreation company that designs, manufactures and markets a portfolio of consumer brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Brands include Old Town canoes and kayaks, Ocean Kayak and Necky kayaks, Lendal paddles, Escape electric boats, Minn Kota motors, Cannon downriggers, Humminbird, Bottom Line and Fishin' Buddy fishfinders, Scubapro and UWATEC dive equipment, Silva compasses and digital instruments, and Eureka! tents.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

72% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 5.33% in the last month
Relative Strength Index 57.08%
Barchart computes a technical support level at 23.89
Recently traded at 24.32 with a 50 day moving average of 23.58

Fundamental factors:

Market Cap $241.50 million
P/E 15.28
Earnings estimated to increase 92.20% this year and an additional 19.20% next year
A Wall Street analyst has issued a strong buy recommendation
Financial Strength B+

Since this company is in the highly seasonal outdoor equipment sector I would advise watching the 50 day moving average closely.

Thursday, May 23, 2013

TrueBlue - Barchart's Chart of the Daay

Summary:

TrueBlue (TBI) is the Chart of the Day. The temporary labor force provider of blue collar workers has a Trend Spotter buy signal and 96% technical buy signals. The stock gained in 16 of the last 20 trading sessions and is up 16.13% in the last month.

Article:

The Chart of the Day is TrueBlue (TBI) and was found by sorting the New High list for frequency and then using the Flipchart feature to find a chart I like. The stock has both a Trend Spotter buy signal and 96% Barchart technical buy signals. The price advanced in 16 of the last 20 trading sessions for a 16.13% gain. The Relative Strength Index in 79.26%.

The Company provides general labor, light industrial and skilled trades services to small to mid-sized businesses in the construction, warehousing, hospitality, landscaping, transportation, light manufacturing, retail, wholesale, facilities, sanitation, and aviation industries.

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 16.13% in the last month
Relative Strength Index 79.26%
Barchart computes a technical support level at 22.55
Recently traded at 23.25 with a 50 day moving average of 20.98

Fundamental factors:

Market Cap $944.18 million
P/E 29.09
Revenue projected to grow 18.30% this year and another 6.90% next year
Earnings estimated to increase 19.00% this year, an additional 27.00% next year and continue to compound annually at eh rate of 10.00% for the next 5 years
Wall Street analysts issued 1 strong buy and 6 hold recommendations
Financial Strength B++

Hold until the stock drops below its 50 day moving average.

5 Mid Cap Winners

Today's list comes from using Barchart to sort the S & P 400 Mid Cap Index to find the stocks with the best technical indicators and charts. The list includes MEMC Electronic Materials (WFR), Lender Processing Services (LPS), Bally Technologies (BYI), Bill Barrett Corp (BBG),Waste Connections (WCN):

MEMC Electronics Materials (WFR)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 50.84% in the last month
Relative Strength Index 74.59%
Barchart computes a technical support level at 6.13
Recently traded at 7.26 with a 50 day moving average of 5.01

Lender Processing Services (LPS)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signals
Above its 20, 50 and 100 day moving averages
8 new highs and up 28.53% in the last month
Relative Strength Index 78.70%
Barchart computes a technical support level at 28.05
Recently traded at 32.63 with a 50 day moving average of 26.39

Bally Technologies (BYI)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
4 new highs and up 13.85% in the last month
Relative Strength Index 69.26%
Barchart computes a technical support level at 54.68
Recently traded at 55.79 with a 50 day moving average of 51.67

Bill Barrett Corp (BBG)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 20.96% in the last month
Relative Strength Index 65.22%
Barchart computes a technical support level at 20.82
Recently traded at 23.26 with a 50 day moving average of 20.61

Waste Connections (WCN)

Barchart technical indicators:

96% Barchart technical buy signals
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
8 new highs and up 12.95% in the last month
Relative Strength Index 73.90%
Barchart computes a technical support level at 39.81
Recently traded at 40.53 with a 50 day moving average of 37.07

Wednesday, May 22, 2013

5 Large Cap Winners

Today's list comes from using Barchart to sort the S & P 500 Large Cap Index and then sorting for technical buy signals. I then take that list and use the Flipchart function to find the charts I like. The list includes US Bancorp (USB), Mead Johnson Nutrition (MJN), JP Morgan Chase (JPM), Home Depot (HD) and Bristol-Myers Squibb (BMY):

US Bancorp (USB)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 8.93% in the last month
Relative Strength Index 76.13%
Barchart computes a technical support level at 34.40
Recently traded at 35.37 with a 50 day moving average of 33.62

Mead Johnson Nutrition (MJN)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
3 new highs and up 5.12% in the last month
Relative Strength Index 72.18%
Barchart computes a technical support level at 79.20
Recently traded at 85.90 with a 50 day moving average of 78.33

JP Morgan Chase (JPM)

Barchart technical indicators:

100% Barchart technical buy signals
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 13.26% in the last month
Relative strength Index 75.40%
Barchart computes a technical support level at 52.29
Recently traded at 53.63 with a 50 day moving average of 49..02

Home Depot (HD)

Barchart technical indicators:

100% Barchart technical buy signals
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 7.89% in the last month
Relative Strength Index 77.20%
Barchart computes a technical support level at 77.76
Recently traded at 79.69 with a 50 day moving average of 72.85

Bristol-Myers Squibb (BMY)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
3 new highs and up 10.66% in the last month
Relative Strength Index 75.61%
Barchart computes a technical support level at 43.60
Recently traded at 46.40 with a 50 day moving average of 40.92

Energen - Barchart's Chart of the Day

Summary:

Energen (EGN) is the Chart of the Day. The diversified energy holding company has solid support on Wall Street. The stock has a Trend Spotter buy signal and 100% technical buy signals, plus 16 new highs and a gain of 18.26% in the last month alone.

Article:

The Chart of the Day is Energen (EGN). The price advanced in 16 of the last 20 sessions while gaining 18.26%. The stock not only had momentum but also positive recommendations from Wall Street. The stock was near the top of the New High list when sorted for frequency.

The Company is a diversified energy holding company engaged in natural gas distribution and oil and natural gas exploration and production activities. The Corporation's utility subsidiary, Alabama Gas Corporation, is the largest natural gas distribution utility in the State of Alabama. The Corporation's oil and gas exploration and production activities are conducted by its subsidiary, Taurus Exploration, Inc. and its subsidiary.

100% Barchart technical buy signals
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 18.26% in the last month
Relative Strength Index 75.48%
Barchart computes a technical support level at 52.91
Recently traded at 54.98 with a 50 day moving average of 49.60

Fundamental factors:

Market Cap $3.97 billion
P/E 18.00
Dividend yield 1.09%
Revenue projected to grow 13.10% this year and another 10.80% next year
Earnings estimated to increase 4.90% this year, 18.70% next year and continue to increase by 12.00% annually for the next 5 years
Wall Street analysts issued 6 strong buy and 5 hold recommendation on the stock
Financial Strength A

Exit if the price drops below the 50 day moving average

Tuesday, May 21, 2013

Forest City Enterprises

Summary:

Forest City Enterprises (FCE.A) is the Chart of the Day. Although the stock is followed by 2 analysts they make no projections. The stock has 96% technical buy signals and has advanced 20 times for a gain of 17.77 % in the last month.

Article:

The Chart of the Day is Forest City Enterprises (FCE.A). The stock has both a Trend Spotter buy signal and 96% technical buy signals. The stock is rising rapidly with 20 gains for 17.77% in the last month. The stock was found on the New High List.

The Company is a national real estate company which acquires, develops, leases and manages residential properties; owns, acquires, develops and manages retail, office and urban entertainment projects; acquires and sells both raw land and developed lots to commercial, industrial and residential users; as well as acting as a wholesale lumber trading company.

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
20 new highs and up 17.77% in the last month
Relative Strength Index 84.71%
Barchat computes a technical support level at 20.00
Recently traded at 20.25 with a 50 day moving average of 18.16

Fundamental factors:

Market cap $3.66 billion
P/E 19.35
Although analysts issued 1 strong buy and a hold recommendations they have not issued revenue and earnings projections

Due to incomplete information this stock is highly speculative and you should sell immediately if upward momentum falters.

Progress Software Buy Signal

Today I added Taracept (TRGT) to the Barchart Van Meerten Speculative portfolio for positive price momentum:

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 28.27% in the last month
Relative strength Index 78.85%
Barchart computes a technical support level at 5.38
Recently traded at 5.58 with a 50 day moving average of 4.58

Gentex Buy Signals

Today I added Gentex (GNTX) to the Barchart Van Meerten New High portfolio for positive momentum:

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
20 new highs and up 22.67% in the last month
Relative Strength Index 84.43%
Barchart computes a technical support level at 25.01
Recently traded at 25.32 with a 50 day moving average of 21.62

Monday, May 20, 2013

Phoenix Companies - Barchart's Chart of the Day

Summary:

The Phoenix Companies (PNX) is the Chart of the Day. Personally, I wouldn't buy it but I'm using it as an illustration to point out a frothy stock from the New High List.

Article:

The Chart of the Day is The Phoenix Companies (PNX). It seems on the surface to have some pretty good technical indicators buy I want you to read them all so you can see when a stock seems just too good to be true.

It is a provider of wealth management products and services offered through a variety of select advisors and financial services firms to serve the accumulation, preservation and transfer needs of the affluent and high net worth market, businesses and institutions. The company refers to its products and services together as its wealth management solutions. The company offers a broad range of life insurance, variable annuity and investment management solutions through a variety of distributors.

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
20 new highs and up 51.07% in the last month
Relative Strength Index 89.87%
Barchart computes a technical support level at 38.32
Recently traded at 40.79 with a 50 day moving average of 30.12

Fundamental factors:

Market Cap - $236.58 million
P/E 6.68
Revenue predicted to decrease 18.50% this year and decline another 6.00% next year
Earnings are estimated to shrink 212.20% this year but turn around and increase 214.60% next year and continue to increase by 15.00% annually for the next 5 years
Wall Street analysts issued 1 hold and 1 sell report
Financial Strength C

Summary: Although the stock is on the new high you have to look beyond the chart and look for red flags. The stock shot up by 51.07% in the last month and has a Relative Strength Index approaching 90%. Too much, too fast. No analysts have a buy recommendation and the Financial Strength in only a C. Revenue has a negative trend. I hope you look at all the signals and decide this stock just has too much risk and probably not enough upside potential. Always look at all the numbers before you buy.

Give ETFs Some Consideration

I've gotten some questions about using the Barchart New High List to find Exchange Traded Funds (ETFs) that have as good a momentum as stocks. Today I used the ETF column in the New High List and then sorted them for frequency. Then I used to Flipchart feature to go through the sorted list to find charts I think reflect consistent momentum. The list includes China Technology ETF (CQQQ), S & P Technology North America IShares (IGM), Fidelity NASDAQ Composite Tracking ETF (ONEQ), KLDS 400 Social Index IShares (DSI) and Vanguard Growth ETF (VUG):

China Technology ETF (CQQQ)