AGP, CPLA, FLS, TCLP Among Charts to Watch

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It was another ugly day on Wall Street on Monday, and it’s hard to tell when this will end. So, we’re going to go over some of the Boxer Shorts that have ugly patterns, and give you an idea as to what is going on here.

AMERIGROUP Corporation (AGP), which got crushed at the end of July, came down really hard in early August, finally bounced, and then rolled over. Until downside momentum is ceased, or lows are tested and reversed, it may very well reach the mid to high 30s before it’s over.

Capella Education Co. (CPLA) is in a very negative declining channel. Even the parallel channel has been broken. It’s accelerated downward, broken through several layers of support, and has moved all the way from the 90s to 30. Yet, this stock doesn’t appear to have bottomed yet. Although this is less likely a short, there's more downside than some of the others that we've looked at here.

Flowserve Corp. (FLS) cracked, formed a big bear wedge, broke hard, came down to key support and bounced, and now has made lower lows. Be careful with this one. There’s potentiality that if it cracks 81.77, it could slide down toward the 61 zone to test the key support level there.

TC Pipelines LP (TCLP) broke down from a little head-and-shoulders top, snapped back to resistance, rolled over to test key support, bounced, and has rolled over to retest. If the 39 – 40 zone is taken out, this stock could see the mid 30s.

Other stocks in our Charts for the Day are ADTRAN Inc. (ADTN), Akamai Technologies Inc. (AKAM), arss, ASM International NV (ASMI), Bio-Rad Laboratories, Inc. (BIO), EMC Corporation (EMC), Cabot Microelectronics Corp. (CCMP), Charter Communications Inc. (CHTR), Coherent Inc. (COHR), Cree Inc. (CREE), Diodes Incorporated (DIOD), Dolby Laboratories, Inc. (DLB), The Ensign Group, Inc. (ENSG), F5 Networks, Inc. (FFIV), Graco Inc. (GGG), Gen-Probe Inc. (GPRO), IHS Inc. (IHS), Informatica Corporation (INFA), IPC The Hospitalist Company, Inc. (IPCM), Itron, Inc. (ITRI), Kraton Performance Polymers Inc. (KRA), Moody’s Corp. (MCO), National Presto Industries Inc. (NPK), Netgear Inc. (NTGR), OpenTable, Inc. (OPEN), Parker Hannifin Corporation (PH), Royal Caribbean Cruises Ltd. (RCL), Rockwell Automation Inc. (ROK), SuccessFactors, Inc. (SFSF), Tenneco Inc. (TEN), Timken Co. (TKR).