Using TriggerPoint Research’s proprietary algorithm we have identified some of those stocks with the potential to breakout. While they have not quite hit that point, these stocks are on our watch-list for a TPR Equity ALERT!
Markets have dropped down since our last edition of the TriggerPoint ALERTS! Highlights and Summary with a low established on May 18th at 1,291.98 in the S&P 500. In our previous update, we warned subscribers of further downside and cautioned increasing or adding any new long positions. Despite this word of warning two TriggerPoint Breaking Up ALERTS! were alerted which included United Therapeutics Corp. (UTHR) and Rangold Resources (GOLD). We will provide more in depth detail on these positions later on.
Pandora Media (P) has been hard hit and is showing some potential short-squeeze potential. The shares are off 50% since the high back in June 2011. There is 7.5 days short to cover. The overall trend has been down, though the recent break above key resistance has triggered the Breaking Up ALERT!
Since the last summary, many ALERTS! expired due to the 30-Day holding period “rule” and there was a slight lull in the number of ALERTS! during the sloping markets between April 20th – April 30th. TriggerPoint Research did however host a very exciting live blogging eventwhich highlighted some great intra-day trades for those who are active in the market. Check out the Latest ALERT! section for a summary of the action. As markets tumbled over the last week, many of our Breaking Up ALERTS! were hit hard. There were 8 ALERTS! from the last period with 7 of those being Breaking Up ALERTS!. The ALERTS! managed to stay positive on an average basis over a 1-day holding period but have lagged slightly on a 5-day and since inception. Some stops were reassessed on existing positions to give some further guidance during this market downtrend.