Cree, Inc chart

Over the weekend I was scanning some charts and I stumbled upon Cree, whose stock has shown remarkable strength over the last 5 months. In the above chart the 3 moving averages are 5, 15 and 50 day. The 5 DMA has just crossed the 15 DMA and both are above the 50 DMA.

This stock did get affected by the market sell off last year but its 52 week low was on 12/05/2008, way before rest of the market. Since then it has steadily climbed and the close price on Friday was $27.71, very close to the 52 week high of $29. The chart also shows cup with handle formation which is a bullish sign. The MACD is also showing a possible buy signal coming up. Zack's Investment Research mentioned CREE as Bull of Day on May 1.

Disclaimer: No current position in the mentioned security.

Weekly Asset Returns and New SMA Crossovers (05/01)

Given below are the asset class returns for the week, courtesy of Wall Street Journal:

And here are the sector returns for week measured using sector SPDRs:I have updated the stock scanner to looks for 5 and 15 SMA crossover and use 50 day average volume of more than 1million shares as the first filter. Here are the results of the scan over S&P500:

Bullish: AA AMD BTU CMS CL D DTE EXC GIS GNW HIG HNZ HUM ICE MDT MCHP PEG PGN PKI SRE T TE VRSN WFR WIN XOM

Bearish: AIZ AVB CA CCL CTAS DFS EQR GLW HCBK KSS MMC MO MYL PAYX PGR SPLS VMC

Please note that moving average crossovers usually happen on up days and majority of stocks pullback somewhat after that. Timing the buy/sell decision will probably require further analysis (technical and/or fundamental) whether you are looking for short-term trade or a long-term position.

Disclaimer: No position in any of the mentioned securities.

Bullish and Bearish SMA cross overs (04/29)

Given below is the result of my stock scanner, which I usually run at night. Please note that the scanner uses simple moving average cross over, which is a trend following strategy. This strategy may result in losses in a trendless market:

Bullish: ASA CNP DF EW ITRI BLT CSA HLS HGSI IPCM IDIX IART KRG LNCE PQ RVI SGK SJI TDG ULBI WAL TBT

Bearish: INTU KEY WMT KCLI NNI TLB THRX UNCA

Disclaimer: No position in any of the mentioned securities