James Taulman
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Market Sharply Lower – Watch Those Extended Stocks

Dow futures off -140 at 8:30AM.

As far as our individual stocks…

Strength…

After just breaking out for us last week RTEC (P/L:+4.3%) continues higher with volume conviction this week.

LYTS (P/L:+7.1%) made some nice gains (+2.3%) with a pickup in volume (+35%).

CYNO (P/L:+12.9%) continued with its positive reaction to earnings, closing at a new all-time high. Volatility may not be over. Watch for downside action.

LKQ (P/L:+6.7%) also closed at a new all-time high yesterday, yet volume was only about average as shares are extended from support. As I noted earlier in the week, this holding should be watch very closely for a pullback.

Weakness…

SINA (P/L:-1.4%) had some concerning action yesterday as it pulled back more than -3% with a +88% increase on volume.

Also See…

CONTINUE REPORT HERE