Domestically, markets are shut down as Hurricane Sandy approaches the Northeast. We are already beginning to see some of the effects of this storm despite the fact that the bulk of it has yet to hit land. Our thoughts and prayers are with those in these areas.
It is predicted that the markets will stay closed for tomorrow, Tuesday October 30th as well but as of right now Wednesday the markets will re-open. As we watch some of the markets abroad along with some of the commodities trading, it appears that the markets could move lower on the re-open.
We have had quite a few winners over the past several weeks during the month of October. Below is a summary of some of those winners along with the ALERT! date:
Teradata Corp. (TDC) – Breaking Down ALERT! on 9/26/2012 resulted in a gain of 7.28%
Western Digital Corp. (WDC) – Breaking Down ALERT! on 10/3/2012 produced a total return of 13.36%
Hain Celestial (HAIN) – Breaking Down ALERT! on 10/9/2012 returned 8.97%
Baidu Inc. (BIDU) – Bouncing up ALERT! on 10/9/2012 jumped 7.92% in only a few short days.
There are still several positions outstanding, and while we have seen some of the Breaking Up ALERTS! thin out due to market conditions, we are still finding plenty of set ups for when and if the market should turn. As of right now, broad based markets both domestic and abroad are in downtrends with the exception of Emerging Markets which continues to stay relatively strong.
In this edition of The Rundown, we continue to look at the more recent ALERTS! and their various performance measures as well as highlighting some of the newest ALERTS! that have recently triggered.
Below is a table showing the ALERTS! that are still active.
(Please note that the ALERTS! do not contain our positioning, stops or target points as this is for members only. Members, please login and click see more details below for the full report.)
In yesterday’s post, we discussed the retail sales numbers and how we were beginning to see quite a bit of weakness entering the department stores and clothing brands. Our suspicions were proven founded as earnings from several retailers and more specifically, JC Penney (JCP) and Abercrombie and Fitch (ANF) would come in worse than expectations. We saw JCP finish on the lows of the day down almost 20% and we witnessed ANF slip to -13.5% to finish off the trading session.