A Sturdy 45

Top ES/RS This Week – and bases, oh joy.

AER Aercap Holdings Nv Two month base
AKRX Akorn Inc New High
ALK Alaska Air Group Inc
AMAT Applied Materials Inc
ANET Arista Networks Inc Three month base
ATHM Ads Autohome Inc Cl A New High
BCEI Bonanza Creek Energy Inc
BIIB Biogen Idec Inc Five month base
BITA Bitauto Hldgs Ltd Ads New High
CAVM Cavium Inc New High
CGNX Cognex Corp
CNK Cinemark Holdings Inc
CNQ Canadian Natural Res Ltd
FB Facebook Inc Cl A One month base
FRGI Group Fiesta Restaurant Six month base
GBX Greenbrier Companies Inc New High
GRUB Grubhub Inc
GSJK Compressco Partners Lp
HCA H C A Holdings Inc New High
HUN Huntsman Corp
JACK Jack In The Box Inc Five month base
LOGM Logmein Inc
LRCX Lam Research Corp
LUV Southwest Airlines Co New High
MEI Methode Electronics Inc
MONT Montage Technology Group
MPWR Monolithic Power Systems New High
NGLS Targa Resources Prtnrs
NVGS Navigator Holdings Ltd Three month base
PAGP Plains GP Hldgs LP Cl A
PANW Palo Alto Networks
QIHU Qihoo 360 Technology Ads Distribution
RH Hld Restoration Hardware Two month base
SIMO Silicon Motion Tech Ads
SLXP Salix Pharmaceuticals
SMCI Super Micro Computer Inc
SNX Synnex Corp
STZ Constellation Brands A
SWKS Inc Skyworks Solutions
THRM Gentherm Inc
TRGP Targa Resources Corp
TTM Tata Motors Ltd Ads New High
VIPS Vipshop Holdings Ltd Ads
YY YY Inc Ads Five month base

Recovery Zone


The broader market is a recovering patient. Recovering from a steep fall that has it south of its 50-day moving average and wondering if it’s next stop may be down to its 200-day average.

Leadership is shot. Breakouts aren’t happening. Bullish setups are few – though we do like Tesla TSLA – because we’re long with it.

So what’s a stock player to do? How about nothing. You could have gone short a couple weeks ago. Let’s wait and see what kind of steam the bull can gather.  It’s likely going to be more sluggish sideways action favoring the Bear.