No New Swing Shorts For Thursday As The Market Showed ONCE AGAIN Why Being Short Here Is Plain Stupid!
January 31, 2007 | Leave a Comment
3 out of 4 stocks follow the general trend of the market, and unless you are looking at your charts upside down, all those trends are higher.
Two New CANSLIM Swing Longs, Four New Speculative Longs, And One Stock I Am Adding To My Existing Position.
January 31, 2007 | Leave a Comment
New CANSLIM swing longs: LDSH HOLX
LDSH is breaking out of a saucer with handle pattern, on very strong volume. The stock has many volume spikes in the base but all of them have the stock finishing off the lows of the days, showing support. As the end of the base wrapped up, volume dried up. As it built the right side, volume picked up again and after a week of quiet trade the stock broke out today on heavy volume. BOP has gone back to the green territory making this chart look much better than what it might have been without it. This stock has strong fundamentals to go along with this chart. EPS has been growing 82%-283% the past six quarters, and sales has been growing 25%-46% during the past eight quarters. Cut your loss w/ a close below 38.20, if the stock does not follow-through on this breakout. Read more
Stocks Finish Green Across The Board, As The Fed Begins Its Two-Day FOMC Meeting; Crude Oil Jumps 5.5%.
January 30, 2007 | Leave a Comment
As is usual on a day where the Fed meets to decide interest rates, stock pretty much did nothing. However, the overall trend of the market is up and stocks followed the path of least resistance, closing green across the board. Even a gigantic jump in oil could not stop the market from throwing up positive gains.
At the closing bell, the SP 600 rose .7%, the SP 500 rallied .6%, the Nasdaq gained .3%, and the DJIA closed higher by .25%. Read more
No New CANSLIM Swing Longs And Four New Speculative Swing Longs For Wednesday.
January 30, 2007 | Leave a Comment
New Speculative Longs: SPRT NTLS IOMI KNXA
SPRT is breaking out of a perfect two week flat base and a perfect two month cup with high handle, on above average volume. This chart you are looking at is very beautiful, with the tight base building pattern, accumulation, and green BOP all over this chart. Volume was not as strong as I would have figured with this amount of move. But it is possible that it was so coiled up that that is obviously all the volume it needed. The fundamentals are horrible, but the chart is very green and very sound. That makes this stock strictly a speculative stock. Cut your loss w/ a close below the 6.45 area, if the stock does not follow-through on this breakout immediately. Read more
No New Swing Shorts For Wednesday As The Market Is Still In A Long-Term Uptrend.
January 30, 2007 | Leave a Comment
The market still can not get much going to the short side and if you have been paying attention to all of my recent buys you can clearly see that the big money is to be made on the long side. Let’s just look at facts: Stocks up over 10%: 24; stocks down over 10%: 8. Three out of four stocks follows the market and those three will ALWAYS outperform that one stock that does not go with the trend. DON’T FIGHT THE TREND!
Stocks End The Day Mixed But Flat From Friday, After A Wild And Volatile Session.
January 29, 2007 | Leave a Comment
Stocks ended mixed, after a wild day of trading, as traders positioned themselves ahead of the Fed meeting. To me, it just showed that the bulls and bears are both being very stubborn here and are evenly matched.
At the close, the SP 600 was up .4%, the Nassy finished up .2%, the DJIA ticked higher by .03%, and the SP 500 diverged closing with a .1% loss. The IBD 100 finished up .4%, keeping pace with the SP 600.
Volume was lower on the Nasdaq and higher on the NYSE. The higher volume on the NYSE does not make today a distribution day because the index was not down .2%.
Read more
Two New CANSLIM Swing Longs, Four New Speculative Longs, And Two Stocks I Am Adding To My Existing Positions.
January 29, 2007 | Leave a Comment
New CANSLIM swing longs: MFW FNDT
MFW is bouncing off support of this high tight flat base, on very strong volume. This bounce comes after a very quiet downtrend that was preceded by a very powerful uptrend full of heavy accumulation and a lot of green BOP. Price, volume, and BOP all moving higher, after a very tight basing pattern makes this chart very pretty. What also helps its cause is the EPS and sales growth. EPS has grown 68 33 and 77% the past three quarters and sales have grown 118 677 620 and 624%. I am not sure what there isn’t to like about that. Basically EVERYONE has my blessing on this one. Cut your loss w/ a close below the 29.93 level and if you have a higher risk tolerance you can use a close below the lows of the short base in Dec/Jan ($25), if the stock does not move higher immediately. Read more
No New Swing Shorts For Tuesday As The Market Is Still In A Long-Term Uptrend.
January 29, 2007 | Leave a Comment
There is still no reason to go short, as the market is holding the 50 dma’s, here on the Nasdaq and SP 600. 3 out of 4 stocks follow the general trend of the market and that trend is up. Therefore, there is no reason to short.
Stocks End Mixed On Lower Volume, As A Big Merger Rumor Helps Lift Stocks Off Their Lows.
January 27, 2007 | Leave a Comment
Stocks started the day off very strong but soon started selling off, after strong durable goods orders, strong new-home sales, and bond yields ticking higher sent signals to traders that the Fed would not be cutting rates any time soon. Thankfully, a rumor of Bank of America and Countrywide Financial merging and more positive earnings helped lift stocks well off their lows. Read more
One New CANSLIM Swing Long, Two New Speculative Longs, and Two Stocks I Am Adding To My Existing Positions.
January 26, 2007 | Leave a Comment
New CANSLIM swing long: SF
SF is bouncing off support of this flat base it is creating, on very strong volume. The flat base you see in this chart is also a handle of a 10-month saucer with high handle pattern. This chart has rounded out very nicely and with this tight handle it becomes even nicer to look at. Volume on the right side of the saucer was very large, indicating strong accumulation, the flat base started off on quiet volume, and now the stock is starting to drift up on very strong volume. Take that action, along with BOP going max green this month and staying max green, and you have a very pretty chart. The fundamentals are also very nice, with EPS growth of 91, 9, and 77% the past three quarters; sales have been growing between 85, 65, and 76% during that time also. Cut your loss w/ a close below the 45.45 level w/ a last resort cut loss at the 50 dma, if the stock does not follow-through on this breakout. Read more
- Two New Short Positions For Friday’s Stock Market Session
- No New Long Positions For Friday’s Stock Market Session
- Two New Short Positions For Thursday’s Stock Market Session
- One New Speculative CANSLIM Long Position And One Stock I Am Adding To My Existing Speculative Long Position For Thursday’s Stock Market Session
- No New Short Positions For Wednesday’s Stock Market Session
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