Stock Indexes Erase Early Morning Losses, Rallying Into The Close, Closing Near Their Highs Of The Day

February 17, 2007 | Leave a Comment

Stocks fought off morning weakness, caused by a revenue warning from MSFT, and rallied the rest of the day to close flat and near the highs of the day. This bit of news from MSFT particularly hit the Nassy the hardest as MSFT represents 6% of this index. The strength in the indexes in the face of the selling in MSFT shares can only be seen as impressive. Many traders expected much worse, considering that the news came on top of a report showing Housing starts falling 14%. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

One New CANSLIM Swing Long, One New Speculative CANSLIM Swing Long, Four New Speculative Longs, One CANSLIM Stock And Two Speculative Stocks I Am Adding To My Positions

February 17, 2007 | Leave a Comment

New CANSLIM swing long: AYR

AYR is breaking out of a short flag pattern that is part of a bigger base on base, on very strong volume. This stock broke out of a double bottom w/ handle base in early February and rocketed straight up on huge volume and max green BOP. Then the stock pulled back on very quiet trade, with BOP staying green, and with prices showing strong intraday reversals to close in the upper portion of daily price range. Combine that with today’s breakout with BOP going max green and you have a very beautiful chart. The fundamentals are great also, with the past four quarters EPS growing at 300-999%; sales growth has been 999-575% the past four quarters. The estimates for 2007 earnings are for an 82% gain. This is one of the nicest stocks I have seen in a while. Cut your first loss w/ a close below the 33.21 level (unless it is on high volume. then that is your final cut loss) and your final w/ a close below the 32 level, if the stock does not follow through on its breakout immediately. Read more

Posted by Joshua Hayes | Filed Under Free Archives Longs

No New Swing Shorts For Tuesday As The Market Is In A Powerful Uptrend; 3 Out Of 4 Stocks Follow The General Market

February 17, 2007 | Leave a Comment

If this was a raging bear market, however, there are two chart patterns I would love to be short. As it is, this is a powerful bull market and anyone shorting this market is asking for an ass-whooping (pardon my French).

Posted by Joshua Hayes | Filed Under Free Archives Shorts

Stocks Indexes Keep Rallying; New Buy Candidates Drying Up As Most Are Extended Beyond Proper Buy Points

February 16, 2007 | Leave a Comment

There was plenty of economic data for the market to feast upon, on Thursday. However, neither that or continued testimony by Ben was able to really move stocks one way or the other. Though industrial output fell by the largest amount in 17 months, stocks didn’t mind and were able to close higher across the board, for the third straight day. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Stocks Indexes Keep Rallying; New Buy Candidates Drying Up As Most Are Extended Beyond Proper Buy Points

February 16, 2007 | Leave a Comment

coming now…

Posted by Joshua Hayes | Filed Under Free Commentary

Two New Speculative Swing Longs And One CANSLIM Stock I Am Adding To My Existing Position

February 15, 2007 | Leave a Comment

New speculative swing longs: DTPI SGIC

DTPI is breaking out above a short flat base, on very strong volume. This stock has been in a steady uptrend filled with accumulation, low volume pullbacks, and green BOP. That action, with the current base basing with BOP going and staying max green makes this a very pretty chart on the short term. The fundamentals are a bit mixed with EPS positive now with a 367% gain in the most recent quarter. Estimates are for 175% and 95% growth next two years so that is a positive. Sales growth is rising to 28%. This stock is a bit speculative due to the weak EPS growth, the short base it is breaking out of, and it being a laggard in its Comm Serv-Consulting group. Cut your loss w/ a close below the 50 dma, if the stock does not follow-through immediately. Read more

Posted by Joshua Hayes | Filed Under Free Archives Longs

No New Swing Shorts For Friday

February 15, 2007 | Leave a Comment

If the market was in an uptrend, however, this would be the kind of chart pattern I would want to be short:

Posted by Joshua Hayes | Filed Under Free Archives Shorts

DJIA, DJTA, DJUA, NYSE, And SP-400 Hit All-Time Highs; The Giant Wall-Of-Worry Proves Easy To Climb, For Stocks

February 15, 2007 | Leave a Comment

Today stocks showed, ONCE AGAIN, why shorting a market that is in a long-term uptrend is an unprofitable and low reward/high risk proposition. All it took today was positive comments from Mr. Bernanke about the economy to ignite a very powerful rally that helped five key indexes hit all-time highs and another one hit six and a half year highs. In front of the Senate Banking Committee, Mr. Bernanke stated, “…the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing of core inflation.” Those words right there ignited the rally that we saw today. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

One New Speculative CANSLIM Swing Long, Three New Speculative Longs, And Three Stocks I Am Adding To My Existing Positions

February 14, 2007 | Leave a Comment

New speculative CANSLIM swing long: CGV

CGV is breaking out above the 50 dma on very strong volume. This comes after a previous uptrend loaded with accumulation, off the October bottom. The bounce off the lows in mid January saw a giant surge in trade show up in this stock followed by a lower volume basing period. The BOP went and stayed max BOP during this period making this overall chart very beautiful. This stock is speculative because it is a wild ADR, is not breaking out of a quiet base, and is in a weak industry group. Therefore, it is a good long for newbies but I would keep this small. The EPS growth has been over 266% the past four quarters and the sales growth has been over 18% during that same time. Cut your loss w/ a close below the 50 dma, if the stock does not follow through on this breakout over the 50 dma. Read more

Posted by Joshua Hayes | Filed Under Free Archives Longs