COF, GPRO, PH, ROK Among Charts to Watch

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We’re going to go over some Boxer Shorts as promised. There is some reason to be concerned because the market had a big week last week, another up day on Monday, and we’re getting close to a zone where a lot of stocks have gotten crushed, the Boxer Short list came down and just got hammered, and then bounced back sharply. But that’s partially because of bargain hunting and short covering. We’ll see how far that goes.

Capital One Financial Corp. (COF) is an example of a topping pattern that broke down hard, and then got slammed hard from about the 47-48 zone down to about 35 in a very short time, and then snapped back with a vengeance about 10-11 points. It’s right up against resistance now near 47, so any additional up side here will be an opportunity to get in on the pullback towards the 42 area, at least.

Gen-Probe Inc. (GPRO) with a distinct down trend, snapped back at price resistance, the 21-day moving average, and the top of the parallel channel. The 61 zone is potentially an area to get short at, and then down toward the low 50s. However, if it does break out, secondary resistance is up around 63, and then 65.

Parker Hannifin Corporation (PH) has a massive top formation. It had a big break down, all the way from the 80s to the low 60s. Finally, it snapped back through the first resistance zone at 71.09. Secondary resistance is at the gap around 74. 73 1/2 – 74 would be a better place, but this stock could very well fail right here and rollover.

Rockwell Automation Inc. (ROK) rolled over hard, got slammed all the way down to 57 from the 90 range in just four weeks, and snapped back to the four-month channel bottom. Expect it to pull back in that area.

Other stocks in our Charts for the Day are Bio-Rad Laboratories, Inc. (BIO), Cabot Microelectronics Corp. (CCMP), Charter Communications Inc. (CHTR), Capital One Financial Corp. (COF), Dolby Laboratories, Inc. (DLB), F5 Networks, Inc. (FFIV), Graco Inc. (GGG), Gen-Probe Inc. (GPRO), Informatica Corporation (INFA), IPC The Hospitalist Company, Inc. (IPCM), Kraton Performance Polymers Inc. (KRA), Moody’s Corp. (MCO), Netgear Inc. (NTGR), OpenTable, Inc. (OPEN), Parker Hannifin Corporation (PH), Royal Caribbean Cruises Ltd. (RCL), Rockwell Automation Inc. (ROK), The Scotts Miracle-Gro Co. (SMG), Timken Co. (TKR).