Wednesday, June 2, 2004
Issue Contents:
| 09:07 | Stock Scan Lists Something new. |
| 09:15 | The Day Ahead U.S. Market Calendar |
| 16:15 | TrendVue Trader Talk Today's transcript. |
| 16:15 | TrendVue Active Trader Today's transcript. |
| 20:55 | Symbol Lists Input source for our scans. |
| 21:22 | Symbol Scans Scan output for June 2 |
| 22:54 | Swing Trade setups for June 3 Featured setups from June 2 EOD scans. |
Something new.
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Tuesday, June 2
- 7:00AM MBA Purchase Applications
- 7:45AM ICSC-UBS Store Sales
- 8:55AM Redbook
- 4:00PM Motor Vehicle Sales
For earnings highlights, please see today's WSJ Earnings Calendar. For a list of speeches, congressional testimony, Federal Open Market Committee material, and statistical releases, please visit the What's Next page of The Federal Reserve Board website.
Today's transcript.
Click on the title above to expand this document.
Today's transcript.
Click on the title above to expand this document.
The input source of symbols for our scans is determined on a monthly basis, and is based upon the following criteria:
- Stock trades on Nasdaq or NYSE exchange with the exception of AMEX based Exchange Traded Funds (ETFs)
- Closing price > $1
- Average daily volume of 1 million shares or more for stocks; 500 thousand shares or more for ETFs.
The current list - 594 at June 2 - suitable for cutting and pasting into most charting applications, can always be found here:
http://www.trendvue.com/library/symbol_list.txt
A tab-delimited list with symbol descriptions included is here. You may wish to bookmark these files.
Scan Output for June 2 2004
Statistics
- Symbols in Up Swings 372 (63%)
- Symbols in Down Swings 222 (37%)
- Total Symbols Evaluated 594
Retracements and Pauses in Up and Down Swings
This scan :
- determines if the swing direction is up or down
- identifies retracements and inside bars within still-intact swings
| Down in Up Swing | Inside in Up Swing | Up in Down Swing | Inside in Down Swing |
| ISON AGR.B LVLT(HB) HUM VRC NSM KKD(HB) RDC MACR A RIG ESV ADTN N MCK BHI UCL ANF NBR WFT BJS ETR GTK OIH | MCDTA ARRS CPWR EWJ EMC KG AV JNS ADM VRX CNO NI ELN HNT ROST MCD DLTR PTEN HOV YUM BBT FNF SINA PHRM(HB) ED AVP CTSH LNC ONXX MERQ FD MRK OHP FRX UNH CECO CAH IMCL | AYE BBBY BRL CCU COF COMS CSCO CVS DHI ERICY EWH EWZ FDX FRE GE HON IBM LUV MSFT NTRS NYB PCG RX S STT SYMC T TEVA TNE(HB) VRSN | DAL(HB) TIBX ORCL TE(HB) NOK FON BMC APCC DG NTAP SNDK VRTSE WMI KEY VIA.B FISV WPI TXU NFB FE HOT PRU OXY GIS SPG BBY TLT(HB) |
Candlestick & Range Patterns
This scan:
- uses rough pattern matching technology to find potential Bullish or Bearish harami patterns as well as Inside days and Narrow Range 7 days.
- Bullish/Bearish Harami patterns require visual inspection for confirmation.
| Bullish Harami | Bearish Harami | Inside Bar | Narrow Range 7 |
| IPG RX FNM | UCOMA GPS COCO SINA BSX MRK AHC | CORV(HB) Q GTW ARRS CPWR DPH TNE(HB) TE(HB) AMTD IGL EWZ AV ADM FON BMC CNO NTAP NI TSN MYL ELN LPX IVX GPS SDS KEY GE PTEN AEP BAX SFA NCC FNF S NAV PHRM(HB) CCU AFL ACE HOT XOM ADP PRU OXY ADBE GIS MO MDT BBY GDT MBG GTK APC PCAR GILD CAH UPS CVX PG | MCDTA ARRS DAL(HB) TIBX CPWR EWJ ORCL EMC TE(HB) KG NOK AV JNS ADM FON BMC APCC VRX CNO DG NTAP NI ELN SNDK HNT ROST VRTSE MCD DLTR WMI KEY PTEN HOV VIA.B FISV WPI YUM TXU BBT FNF NFB SINA FE PHRM(HB) ED HOT PRU OXY AVP GIS CTSH LNC ONXX MERQ FD MRK SPG BBY OHP FRX UNH CECO CAH IMCL TLT(HB) |
From these working lists one or more charts will be highlighted each day.
Note: (HB) = Hard to Borrow
These are selected setups from June 2 EOD scans.
Retracements in intact upswings
LVLT
LVLT presents a 2 bar bull flag at a previous swing high; initial target is Friday's high.
Long setup
Buy stop 3.80 day order only
Initial Protective stop if filled: 3.61
Retracements in intact down swings
SYMC
SYMC put in a marginal up bar after quickly hitting Tuesday the target of the 3 bar bear flag. We can stalk this for continuation with a short below Wednesday's low - on continuation of the move the primary target is the measured move in the mid 40$ range.
Short setup
Sell stop 44.18 subject to up tick rule, day order only
Initial protective stop if filled 45.60
Candlestick and Range Patterns
RX
RX ends Wednesday with a 3 bar bull flag and a harami, just in side the upper range of a descending triangle. While we generally prefer to avoid trading within triangles, aggressive intraday traders may wish to stalk this for a surprise push up. End of day only traders should pass on this one.
Long setup, aggressive traders only
Buy alert level 24.96
IPG
IPG presents a 3 inside up / harami setup and a potential high ADX buy setup. On the weekly chart we see potential for a bull flag forming in that time frame as well but caution that continuation of the downtrend could easily be the outcome on this one.
Long buy setup off the daily chart
Buy stop 14.30, day order only
Initial protective stop if filled 14.05
Note: Buy/sell and protective stop suggestions assume a passive end of day approach to swing trading. Aggressive / experienced intraday traders may wish to use the techniques found within the Knowledge Base to obtain price improvement by entering swing trades intraday.
Disclaimer: The information provided is for general informational and educational purposes only and should not be considered as a recommendation to buy or sell securities. Use of this information indicates unconditional acceptance of our terms of use.