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

May 24, 2007

new speculative swing longs: XRA

XRA is breaking out above the May resistance from this short cup pattern, on very strong volume. The breakout is very nice due to BOP being very green during the base and on the breakout, along with the extremely strong volume surge after the very quiet volume in the base. However, the fundamentals are horrible and non-existent. Therefore this is not a good long for emotional inexperienced investors. Cut your first loss with a close below the 2.22 level and your final loss with a close below the 50 dma, if the stock does not move higher immediately.

adding to existing CANSLIM longs: MTOX

MTOX is bouncing off the May support area and putting in a strong reversal from yesterday’s pullback, on very strong volume. This buy should be much smaller after the crazy action on 5/23. The EPS growth has been between 15% and 300% and sales have been between 3% and 16% the past eight quarters, making this one of the top stocks in the stock market. Fund growth has gone from 14 to 17 funds the past four quarters, showing that the big boys want this stock too. However, like I said, the two perfect buys were Monday and Friday of last week, so keep this long here small. EPS estimates are for 52% and 16% this year and next, giving the stock reason to rise. This is a very pretty chart but remember you have a potential big natural pullback to the 50 dma, before you can even worry about this stock. Cut your loss with a close below the 50 dma, if the stock does not move higher immediately.

Last 5 posts in Free Archives Longs

Posted by Joshua Hayes | Filed Under Free Archives Longs 

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