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TradeTechnical.ly

Watchlist July 7th 2011

HOV

HEK

GLUU

DANG

GA

RDN - like above 50ma after some consolidation

ADK - maybe a bit more consolidation... previously thin trader with nice vol recently.

EEE

OCZ

Stocks to Watch 07/06/2011

REDF

SIFY

PTIE

CIGX

PCYC - waiting for short confirmation.

Congrats to those with stinky fingers!!

Congratulations to everyone who picked their bottoms last week!  The SPX held and bounced beautifully of the 200MA spurring a 5 day bull run with almost all days being triple digits days for the DOW.  I put my IRA to work on the second day so my fingers were a bit dirty.  I didn't get to chance to put much to work trading and missed out of the biggest rally this year in that aspect. 

SPX: Rule # 1 - Double Tap!!

McClellan Oscillator showing overbought conditions > 50.  I'd like to see the market rest here before blasting off to new highs for the year...

Don't Fight the Trend!

Don't fight the trend:

Attempting to go against the trend will usually get you no where and you will most likely incur loss of time, money and effort.  I have been watching some of these stocks below to initiate short positions but they have yet to break down.  I was lucky enough to close out my short position in JVA today just before it started to squeeze.  I attempted a short position in ONTY when it breached the low of the morning at 9.10 but it only bounced back and I stopped out.  To short stocks like these, you just have to sit on your hands and watch them constantly until they are ready to break down and confirm a change in trend by making a lower low and a lower high.  The reversals in these stocks are so quick and if you are not watching closely, you will miss out on the perfect short.

Still trending higher (for now):

JVA

ONTY

Possible short term reversals in trend:

PCYC

YOKU

 

In the meantime, Lesson to me: don't fight the trend, trade the trend until it stops or wait for the perfect short opportunity to present itself!  Trade what you see, not what you think.

Trade Ideas Tuesday June 28, 2011

Trying to start posting again as I have been busy with the day job...  Here are some possible movers from my scans for Tuesday:

SQNM - Sitting  on some support and could get a bounce as the Bios have been strong recently.  Would need to break above the 50 and 20 again to gather more strength.

KKD - broke out of resistance on recent strength and still holding strong.  Break of yesterday's highs could take this fucker higher.  Volume showing good accumulation recently.

AIG - Possible bottom play although it could just be a bear flag.  Cracked above the 20ma and has a few higher lows.  RSI might be about to cross into positive territory after almost 6 months.  On watch of any signs of life in this turd.

TNAV - Nice accumulation recently and still a strong mover. Has a good .70 in it to its recent highs and could break out above 18.  Worth keeping an eye one.

RENN - China social ding-a-ling networking stock that has taken an anal pounding with a side of shrimp fried rice might be ready for a bounce.  Had a crazy strong 12% day on Monday and closed at the highs on higher than avg volume, not to mention the 25% short float.  Definitely worth keeping on the watch for any bounce towards 8 beans.  This could squeeze hard!

Remember... If the turds don't move... Flush'em!

Setups and Plays for Valentine's Week

CRM - Reports earnings on Feb 24.  I think the stock should probably break out here into earnings and I will probably play the Feb 145 Calls and/or March 150 Calls.  If we hit near or above the 52's will take most off the table and hold a few into earnings (Feb calls) or convert it into a spread (sell the feb 150's or 155's).

AKAM - Gonna keep on watch to see if we get a technical bounce here from the sell off after earnings.

LONG SETUPS - Below are a few that look ready to break out:

SIMG - held support last week. Looking for retest of 9.5

MPAA - Nice consolidation here within wedge. looks good over 15.

XXIA - Looking strong, Long over 19

CLFC - Bounce off 50MA and closed above 20MA. Looks good above 7.70

OPK - nice bounce off morning sell off on friday and closed at 52 highs on good vol... should see higher from here!

POL - Made new 52 week highs. Keep an eye on it for continuation.

KNL - Nice flag formed after having broken out, could keep going here.

EMAN - Holding up well here at highs within tight flag consolidation.  Watching for further upside.

NCT - tight consolidation here. break of 7.10 takes it to 7.90 then boooooom!!!

MDR - High and tight flag... could break higher next week. definitely worth the watch above 22.66

1 Short setup... Lmao...

AVNR - Short Setup.  This looks ready to crack lower.

New short position

SGMO - short at 8.47, I think this could hit a 7.5 the way the markets looking.

Few Setups to watch on Tuesday Jan 18th

ATW - Trading in a range here, looks good over 38

BDSI - holding 1/2 position

GRRF - Looking for retest of recent highs

KIRK - Right at break out point!

MGIC - breaking out already, further upside after 8.5

THO - Broke through resistance and flagging... On watch for further upside.

Penny Stock with Potential

PCFG - have 30k shares and will probably buy some more if it dips...

Just wanted to stop by and give an update... Haven't been doing much trading lately due to alot of training going on in the Day Job (which I hope to keep for 5 more years and retire at 35 Ha!).

I have been doing a few swing trades and have a few positions on at the moment including ATPG (which attempted to break out but pulled back on friday, even theough the market popped to almost break even which is a positive)  I expect ATPG to continue its move and sold off a bit on profit taking from the previous day's move up and no one wanted to hold  over the weekend.  I expect ATPG to hold above the 50SMA and continue higher... IMO.

Also holding some SHLD calls which have stalled out on me and expected it to move higher already.  Sold a few  for a profit but holding 2/3d's pos which I expect to sell before earning date (At least most).

Below are a few stocks I've checked out which I think might have potential in the coming week for a move higher.

DCTH - In a short term uptrend and currently above all SMAs.  Lurking around a key resistance level which it has currently failed to get over.  Current wedge formation is starting to tighten and I think it has a good chance to break to the 11 area, 12.50 second target.

VHC - Long term fav of mine which I recommended at 7.50 and unfortunately ended up selling in the 12's, but hey, profit is profit.  I am liking the pattern here for a continued break out as it has been holding up very well and creating a new wedge formating as well.

TSTC - Longer term wedge formed here and right under the 200SMA but above the 50 and 100.  I pop over this descending trend line forming the wedge and 200ma should take this one higher. Could be looking for a 14.80 to at 15.50 target.  Keep an eye on it.

ALTH - a bottom picking / bounce off support play with a flat-lining 50ma and potential to break this downtrend due to good price movement on high volume friday.  1st target would be about 4.80 which is a good prior support/resistance area.  Both Stochs and MACD turning up on this past move.  Could continue its recent momentum.

I Hope to be back in action by the end of November so just trying to start to get warmed up again.  Trade em well and thanks for reading!

BT