Trend Day Trading Stocks on the Breakout for Feb 28

Feb 28, 2014: 12:17 PM CST

It’s the last day of February 2014 and US Stock Market indexes are breaking to all-time highs.

Which stocks are leading the pack and topping our daily “Intraday Trend Day” scan list?

Let’s focus our attention on the bullish/uptrending names today:

Bullish Uptrending Intraday Trend Day Trading

The four stocks that top our algorithmic and visual scan list include Estee Lauder (EL), Halliburton Co (HAL), National Oilwell (NOV – which appeared on our February 21 Downtrending List), and Dover Corp (DOV).

We tend to use this scan as a potential “Trend Day Continuation” candidate list, while aggressive traders can use these names to trade any reversal or “Trend Day Failure” outcome which can happen.

We tend to trade intraday in the direction of the overall market as opposed to against it.  For the moment, this would suggest trading bullishly as the market breaks out to new highs in is own trend day development unless the S&P 500 itself failed and reversed intraday lower.

If you can’t resist a short-seller list on a day like this, then our top four stocks in an intraday downtrend at the moment include SanDisk (SNDK), Fossil Group (FOSL), Iron Mountain (IRM) and Family Dollar Stores (FDO).

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Follow along with members of the Daily Commentary and Idealized Trades summaries for real-time updates and additional trade planning parameters as we watch a “hold and bounce” or “break and retrace” scenario play out in the near future.

Corey Rosenbloom, CMT
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Corey’s new book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


2 Responses to “Trend Day Trading Stocks on the Breakout for Feb 28”

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