Four new swing longs for Wednesday

December 31, 2006

AOI is breaking out above the recent December highs and is near breaking out from the earlier December highs on good volume. This is a third time I am adding to this stock from my initial entry. This chart is very beautiful with all the accumulation and strong BOP. However, BOP is starting to weaken and volume is not as strong on this move up. Therefore, I am not adding as much as before. Cut your loss w/ a close below the December lows, if the stock does not continue to move higher.

CAAS is breaking out of a very deep cup w/ handle base on EXTREMELY strong volume. This chart is loaded with accumulation all over the place. Looking at the January-February uptrend you can see all that accumulation. The pullback created the cup was done on very tiny volume. When volume did pick up it was accumulation. The right side of the base was then loaded with accumulation. The handles pullback in December was on low volume. And now you have this breakout. BOP has been max green many times in this chart and makes this chart look nice. The stock is more than likely too volatile to new investors. Cut your loss with a close below the handle’s lows, if the stock does not move higher immediately.

AZL is breaking out of a tight three-week pennant formation on very strong volume. This chart is extremely beautiful, minus the red BOP episode in October. But notice during that time, the stock rose. This chart has had a 300% run-up in 2 ¼ months, then pulled back on very quiet volume, and is now breaking out again. This is a very pretty chart that has had max green BOP since the second day in December. Cut your loss w/ a close below the tight three-week pennant’s base, if the stock does not follow-through on the breakout.

GOAM is bouncing off recent support and near the breakout’s pivot point in early December, on above avg. volume. This chart is one of the prettiest charts I have seen in a while. There is no red BOP at all on this chart going back to October of 2005. The accumulation on the right side of this MASSIVE two-year cup base was HUGE. Since all of that massive accumulation, the stock has pulled back now on very quiet volume. The bounce off this support was on much higher volume than any day since the pullback started. BOP has been green since mid-October of 2006 and has been max green for the past 11 days and for all but three days in December. A very pretty chart. Cut your loss w/ a close below the 7.81 level, if the stock does not move higher immediately. More experienced traders can use the lows made that day of the powerful gap-up in early December (around 7.00), if they have a higher risk tolerance.

Last 5 posts in Free Archives Longs

Posted by Joshua Hayes | Filed Under Free Archives Longs 

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