No New Swing Shorts For Wednesday As The Market Is Still Holding The March 14 Lows

March 27, 2007 | Leave a Comment

3 out of 4 stocks follow the trend. And since we are not getting any distribution days and most of my longs continue to do very well, despite the rough market, it is still not time to short yet. The trend, even though it is HORRIBLE, is still up. Until we crack the lows and get some more distribution days, I don’t think it is wise to go short yet.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

Stocks Reverse Intraday Losses, With Most Indexes Closing Higher On A Slight Uptick In Volume; Housing Market Continues To Swoon

March 26, 2007 | Leave a Comment

Stocks started the day pretty drift-less the first half hour, but soon the excitement started. After a report on new-homes sales falling 3.9% to 848k in February to new seven year lows (June 2000), a report on the months supply of homes on the market rising to 8.1 months which is a 16 yr high (January 1991), and a revision of new-home sales being lowered in November, December, and January, stocks were slammed. On top of that, Citigroup announced plans to cut 15k jobs and take a $1 billion charge to earnings, and oil rose to over $63 a barrel, closing at $63.30. Despite all of this, after the selling was over in the morning, stocks rose the rest of the day closing near their highs. This was a very positive bullish intraday reversal. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

One New CANSLIM Swing Long, One New Speculative CANSLIM Swing Long, One New Speculative Swing Long, And One Speculative Long I Am Adding To My Existing Position

March 26, 2007 | Leave a Comment

new CANLSIM swing long: SMSI

SMSI is breaking out of a cup with handle pattern, on extremely strong volume. This stock, as you can see via the chart, has been in a nice steady uptrend since the market lows in 2002. Since then, you can clearly see, until the middle of 2006, this stock moved higher on huge volume and pulled back on ligher trade, with BOP spending a lot of time in the green zone. The stock started an ugly pullback last year, rallied on lower volume, and then had a nasty reversal at the beginning of November. This sell-off, on very low volume during the final part of the trend, lasted until the beginning of March. Then the stock jumped on huge volume and with a surge in BOP back to the green zone. After a very low volume pullback this month, SMSI has now broken out past multiple resistance points. Today’s breakout, along with the overall action of the stock since the 2002 lows, makes this a pretty chart. The fundamentals are very strong, with EPS growing between 22% and 999% the past six quarters and sales growing between 7% and 387% the past seven quarters. Fund ownership has increased from 21 to 58 the last four quarters also, showing that the big boys like this stock. However, the only problem with everyone going long is the fact that this is a very volatile stock. New emotional traders should probably stay away from this one as the chart is not perfect and has too much risk for you guys. If you are experienced, cut your final loss with a close below the 15.46 area, 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 Still In An Uptrend Following The Follow-Through Day Last Wednesday

March 26, 2007 | Leave a Comment

No new swing shorts for Tuesday, as I do not bet against the market; None of the greatest traders-of-all-time ever bet against the trend. Three out of four stocks follow the general trend of the market. That trend, right now, after the follow-through day is up.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

A Boring Day Of Trading Ends With Stocks Mixed On Lower Volume; Best Week For Stocks In Six Months

March 24, 2007 | Leave a Comment

A boring, erratic, and overall lame session came to end Friday, after a week of surprises on many fronts. The only thing not boring today was the post-1pm EST action in the Nasdaq; up, wedge up, down, wedge down, and up. Still, that only led to a flat close. Today’s headlines were much more subdued than the previous four days, but we still had some important numbers to digest. Existing-home sales were up 3.9% in February to an annualized 6.69 million. That was the fastest growth since April and above economist estimates. This was a welcome report, after all the thrashing we received last month. The other news item making its way around was the 15 British sailors and marines that were captured by Iranian kidnappers. However, as expected, this was not market moving news. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

No New Swing Shorts For Monday As The Stock Market Is Still Consolidating The Gains From The Follow-Through Day On Wednesday

March 23, 2007 | Leave a Comment

No new swing shorts for Monday as 3 out of 4 stocks follow the general trend of the market. The trend of the market is up, after Wednesday’s follow-through day. While the markets are in an uptrend it is silly to go against the trend when so many of the longs that I have been taking are working so well. Until these longs start failing or rolling over, it is not wise to against this trend.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

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

March 23, 2007 | Leave a Comment

new CANSLIM swing long: SXC

SXC is bouncing off support, in the middle of a flat base pattern, on very strong volume. This chart has been in an overall uptrend since the July lows with the stock finding steady constant support at the 50 day moving average along the way up. All of the rallies are coming on very heavy volume (accumulation) while the pullbacks that follow happen on very low volume. BOP has been strong since the July lows, with it staying around the zero line, except for a short time in late December. Since the powerful move in January, BOP has been green almost the entire way since. Today’s strong bounce with a surge in price and BOP to max green, along with the overall price and volume action, makes this a very pretty chart. The move today appears to be a tip off of what will hopefully be a strong breakout to the upside. The fundamentals are very strong on this stock, with EPS and sales growth consistently increasing. EPS growth has been 47%, 6%, 13%, and 100% the past four quarters; sales growth has been 37%, 43%, 45%, and 19% during the same time. Fund ownership has increased from 48 to 56 funds the past four quarters. Even with this nice chart and fundamentals, this stock still is not the best for new emotional traders as the stock is very thinly traded and the final cut loss is a little over 10% away. The fact that the stock has not broken out yet puts its at a higher risk of failing. Cut your first loss with a close below the 26.92 level and your final loss with a close below the 25.44 level, if the stock does not follow-through and breakout immediately. Read more

Posted by Joshua Hayes | Filed Under Free Archives Longs

Stocks End Mixed After A Narrow And Choppy Session; Indexes Hold Up Well After Follow-Through

March 22, 2007 | Leave a Comment

Stocks traded in a narrow and choppy range today, digesting the gains from yesterday’s follow-through. That action was overall very positive considering that there were a couple of news items that could have sent stocks lower. Oil rose $2 to close over $61 and for the third week in a row, jobless numbers came in lower; this time by 316,000. However, stocks held up well, consolidating the gains from yesterday’s follow-through. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

Two New CANSLIM Swing Longs And Eight New Speculative Swing Longs For Friday

March 22, 2007 | Leave a Comment

new CANSLIM swing longs: RVSN LHCG

RVSN is breaking out of a very nice base on base formation, on extremely strong volume. This stock first moved out of a very long round cup pattern in October, on strong volume. That led to the next base that RVSN broke out of in February. On that breakout volume jumped significantly after a very low volume base, and BOP made a surge into green territory. This base was very good, considering the market we went through. There were many days where you can see huge surges in volume, indicating support, at the 50 day moving averages. On the days where you see the stock breaking below both moving averages, it always rebounded to close in the upper half of its intraday price range. During this base, with all that movement, BOP stayed a high level to max green. Today’s breakout, along with the overall price/volume/BOP action, makes this a very pretty stock. The fundamentals are very impressive, but they are slowing. EPS has grown between 17% and 267% the past eight quarters. Sales grew 11% to 26%, during that time. The only problem with this stock is the fact that as of right now the stock is a bit extended from the pivot point and 50 dma, for a newbie. However, a low volume pullback, would make it perfect to jump on. Cut your loss with 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 As The Market Is In An Uptrend Off Of Yesterday’s Follow-Through

March 22, 2007 | Leave a Comment

There are no new swing shorts for Friday as 3 out of 4 stocks follow the general trend of the market. That trend, right now, is up. Until we get more distribution days and fail this rally, there is no safe reason to short.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

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