A few more of my stocks have made it to, or almost to, the selling block with today’s action. I haven’t updated the models for the last two days of market movement, but at the last check, the models were all positive, so I will be looking for replacements.
Uranium Resources (URRE) is right at the cusp of getting sold. Not only did it close right at support at $9.00, the downdraft since the last shares were added has occurred on reasonably high volume. However, the 2-day RSI is a bouncy 7.21, so I won’t sell tomorrow.
Universal Forest Products (UFPI) closed below the bottom of its earnings-day range, but significantly is also at support with a reboundy 2-day RSI of 7.77, so again, I’m not sure this is the time to sell.
TeleTech (TTEC) seemed to have a good earnings report, but a downgrade sent it down for the count on Monday. While it bounced off support, there is a lot of overhead supply north of $37, so I will send this stock down to the minors and take a loss.
OYO Geospace (OYOG) not only broke support to close below my sell line, it broke $72.50 on a bearish 15-minute candle that traded about 10.5K of the 68.8K total shares traded today. This is another stock that behaved badly after earnings, so I will take profits on it.
After these two sells tomorrow, I will be somewhere around 10% cash, give or take a percent or two.
