Stocks Fall Hard But Find Support Around Mid-Day; Lower Volume Prevents Another Distribution Day.

January 22, 2007 | Leave a Comment

Stocks started the day off rough and only got worse as the LEI was delayed. The delay helped the selloff pick up steam and stocks quickly dropped to their low’s on the day. However, like usual, buyers stepped in to help support a declining market. However, by the close, their buying could not prop the indexes back into positive ground. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

No New CANSLIM Swing Longs, One New Speculative Long, and One Long I Am Adding To My Existing Position.

January 22, 2007 | Leave a Comment

New CANSLIM swing long: NONE

New speculative swing long: NATH

NATH is breaking out of a one month flat base, two and a half months cup with handle, and an eight and a half months base on base pattern on very strong volume. When you have a stock breaking out of a series of three different bases, you know you are looking at a possible great stock. Along with the price action, you have great volume action. If you look at a weekly chart over the past year you can see TONS of weeks of clear accumulation and the down weeks on big volume showed clear support on candlestick charts. BOP has been green almost the entire time for the past year. The great price action, accumulation, and beautiful green BOP make this a very pretty chart. The other encouraging factor is that EPS is growing 100% 125% 22% and 24% the past four quarters with sales growing 8-29% during that same time. This is a strong stock in a strong industry group. However, due to the low average volume (13k daily) this stock should not be traded by newbies. The volatility of this stock should be left to professionals. But, this is a CANSLIM quality stock so you have my blessing only if you have a cut loss plan. Cut your loss w/ a close below the 13.99 area, if the stock does not follow-through on this breakout immediately. Read more

Posted by Joshua Hayes | Filed Under Free Archives Longs

No New Swing Shorts For Tuesday.

January 22, 2007 | Leave a Comment

Even though the market is weakening, it still is not time to short yet. Trust me, I will be all over it, when the time comes. As for now the general trend of the market is up and 3 out of 4 stocks follow that lead so there is no way I would ever bet against the general trend. Stupid speculators do that as history’s greatest traders of ALL TIME have NEVER made that play a practice.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

Afternoon Rally Gives Stocks Support, Off Of Yesterday’s Selloff; Nasdaq Holds Its 50 DMA, SP 600 Regains Key Line.

January 20, 2007 | Leave a Comment

Stocks were able to find some support, yesterday, after a nasty selloff on Thursday did some damage to stocks. IBM started the day off wrong when its stock gapped down over 3.5% and put pressure on the indexes. However, a late afternoon rally, for no apparent reason, helped lift the SP 500 and Nasdaq to a positive close. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

No New Swing Shorts For Monday.

January 20, 2007 | Leave a Comment

The market has not yet broken down and is still in a clear uptrend. 3 out of 4 stocks follow the general trend of the market and the best speculators in history NEVER bet against the trend.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

One New CANSLIM Swing Long For Monday And Two Stocks I Am Adding To My Current Holdings.

January 19, 2007 | Leave a Comment

New CANSLIM Swing Long: AMK

AMK is coiling and starting to make a move out of this flag pattern, on strong volume. This stock had a strong runup from the middle of December to early January on very strong volume and strong BOP. It has since started a basing pattern that has seen the volume come in but still stay above average. That would normally be a bit concerning in a base but the price action looks to still be strong accumulation with all the strong closes the last four days. It is shaping a flag pattern and this move on strong volume appears to be the beginning of a move higher. BOP has been max green the entire month of January and is full of green since early September, making this a very pretty chart. Fundamentals are very strong. EPS has been growing in-between 44%-538% the past four quarters and sales have been between 17%-23% during the same period. Cut your loss w/ a close below 17.37, if the stock does not breakout from this flag pattern to new 52-week highs. Read more

Posted by Joshua Hayes | Filed Under Free Archives Longs

Big-Cap Tech Selloff Hits Nasdaq With Another Large Distribution Day; Pharmaceuticals And Drugs Hold-Up DJIA.

January 19, 2007 | Leave a Comment

Stocks on the Nasdaq simply got nailed today, as a weak outlook by AAPL followed by two downgrades hit the stock with a 6% loss. This along with a weak profit outlook from LRCX with a downgrade simply was too much for the small-cap and tech indexes to handle.

At the close, the Nasdaq fell 1.5%, the SP 600 lost 1.1% and closed below its 50 dma, the SP 500 fell .3%, and the DJIA held like the champ it has been with a minimal .07% loss. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

No New CANSLIM Swing Longs, No New Speculative Longs, And Three Longs I Am Adding To My Existing Position.

January 18, 2007 | Leave a Comment

Adding To Longs: ATX WRLS RENT

ATX is bouncing off the recent support area on very strong volume. This stock is loaded with accumulation coming off that HUGE UP day on HUGE volume at the end of June. BOP has been a high level green to max green since November, making this chart extremely beautiful. However, this stock is too thin for a new trader so be very careful. EPS growth has been 250 and 133% the last two quarters and sales growth has been 12 and 10% the past two quarters. Cut your loss with a close below the 50 dma and/or the 7.34, if the stock does not start showing you gains immediately. Read more

Posted by Joshua Hayes | Filed Under Free Archives Longs

No New Swing Shorts For Friday But…

January 18, 2007 | Leave a Comment

…I will be posting the ticker symbols of possible short candidates that I would love to take if the market is much weaker. I will first post them on the Gold Forums and then post them here. However, I will not be taking any of the shorts as the market is still in an uptrend on 3 out of the 4 time frames. Only the short-term trend of the market is down and until there are more distribution days and the indexes are trading under the 50 dma, it is silly to be short yet. One powerful short squeeze is all it takes right now in this kind of market to change everything. When the time to short is right, trust me, I will be all over it AGAIN, like always.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

Nasdaq Suffers A Distribution Day, As Stocks Fall Across The Board; Big Caps Hold Ground.

January 18, 2007 | Leave a Comment

Stocks suffered a rough day, on Wednesday, as INTC’s pricing battle against AMD weighed heavily on the Nasdaq, with INTC selling off. A weak Fed beige book report and a stronger than expected PPI, more than likely, did not help either.

At the close, the Nasdaq led the way on the downside, falling .75%, the SP 600 and the SP 500 fell .1%, and the DJIA fell .05%. Today, unlike yesterday, the IBD 100 and leading stocks led to the downside, falling .8%. The IBD 85-85 fell .6%. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

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