Two New Speculative CANSLIM Long Positions, Three New Speculative Long Positions, And Two Longs I Am Adding To My Existing Positions
June 26, 2007 | Leave a Comment
NONE OF THESE ARE PERFECT; ALL ARE GOING TO BE SMALL POSITIONS OVERALL, JUST LIKE ALL THE RECENT LONGS HAVE BEEN. MY TWO FAVORITE CHARTS ARE THE ASTI AND ELN CHARTS. ASTI WILL BE LARGER THAN THE OTHERS BUT WILL STILL BE SMALL OVERALL DUE TO THE MARKET AND THE VOLATILITY IN THE STOCK. I DON’T RECOMMEND NEWBIE EMOTIONAL INVESTORS GO LONG ANY STOCK THAT IS NOT NEAR THE 50 DAY MOVING AVERAGE, WITH THE MARKET AS CHOPPY AS IT HAS BEEN THE PAST FOUR WEEKS.
Subprime Worries Hit Stock Indexes As A Nasty Reversal Kills The Intraday Rally
June 26, 2007 | Leave a Comment
An ugly reversal hit stock indexes today, after more worries over the BSC subprime hedge-fund investments came to light. The selling was broad and hit everything in its path. The SP 600 led the way lower by .7%, the Nasdaq dropped .5%, the SP 500 lost .3%, and the DJIA lost .1%. Theses losses though they don’t seem that bad overall are indeed bad when put in the context of earlier gains.
The IBD 100 even did something it hasn’t done in a while: lead the market lower. The IBD 100 lost .8% as leading stocks finally got hit with some selling. However, honestly, it wasn’t that bad as most are still holding their 50 day moving averages or key support. However, some indexes have now violated their 50 day moving averages and that officially puts them into mixed trends, with longer-term trends up and short-term trends now down in the SP 500, SP-600, and the NYSE. Read more
No New Short Positions For Tuesday
June 25, 2007 | Leave a Comment
The market is starting to show signs of cracking, despite leading stocks still holding very well. If the market falls further, rallies on lower volume to the 50 dma, and then sells off again on higher volume, you will definitely want to get more cautious. If that is the case we may be able to start probing some shorts. But it is still way too early to be getting too excited on the short side. There are still plenty of stocks making very large overnight gains (short killers) that make shorting this market still not the right play as we are still too early.
One New Speculative Long Position And One Long I Am Adding To My Existing Position
June 25, 2007 | Leave a Comment
As I have said over and over, keep all longs either small or not at all. Neither one of these two longs are perfect. What is nice about both is that they both have great risk/reward ratios, with the stocks so close to their 50 day moving averages.
Stocks End The Week Full Of Red; NYSE And SP 500 Barely Close Below Their 50 Day Moving Averages
June 24, 2007 | Leave a Comment
A slow but constant selloff hit stocks on a rebalancing day for the Russell indexes, as stocks closed near their session lows, closing lower for the first Friday in sixteen sessions. The losses came despite the debut of private-equity firm Blackstone Group. At the close the DJIA led the way lower with a 1.4% loss, the SP 500 took a 1.3% haircut, the NYSE and Nasdaq lost 1.1%, and the SP 600 held up the best only losing .9%. The blame on the losses were contributed to the subprime problems announced by BSC. Read more
Stocks End The Week Full Of Red; NYSE And SP 500 Barely Close Below Their 50 Day Moving Averages
June 23, 2007 | Leave a Comment
A slow but constant selloff hit stocks on a rebalancing day for the Russell indexes, as stocks closed near their session lows, closing lower for the first Friday in sixteen sessions. The losses came despite the debut of private-equity firm Blackstone Group. At the close the DJIA led the way lower with a 1.4% loss, the SP 500 took a 1.3% haircut, the NYSE and Nasdaq lost 1.1%, and the SP 600 held up the best only losing .9%. The blame on the losses were contributed to the subprime problems announced by BSC.
No New Shorts For Monday
June 23, 2007 | Leave a Comment
There is still way too much bearishness out there for me to even think of getting nervous about the current market. There are problems, but there are still so many stocks that are acting perfectly like the market is still in an uptrend. However, until we start seeing severe breakdowns in leading stocks, there is nothing to fear but fear itself.
If this was a bear market, TWPG would make a good short.
TWPG Read more
Three New Speculative Long Positions And One Speculative CANSLIM Long I AM Adding To My Existing Position
June 23, 2007 | Leave a Comment
The market may be very choppy. But those who read my postings on daily market analysis know that this was coming. I still have very few stocks giving me complete sell signals and most of my longs continue to act very well. Therefore, I don’t think there is any reason to panic with the recent selling. Saying that, however, I would not want to load up on stocks here. None of these are of superior quality–minus ASIA–and most longs should be kept small with the way the market is acting. ASIA is your best one of the bunch, in terms of total quality.
new speculative long positions: GEOY AWH ALVR
GEOY is putting in a solid intraday reversal, bouncing off of strong support, near the June breakout pivot point, on extremely strong volume. This chart is very pretty but nowhere near a perfect long due to how short the base is and how far away the 50 dma. However, the max green BOP on this chart since the end of April, the heavy accumulation since the beginning of this stock’s life, and the very tight bases this stock forms makes this a very nice chart. The max green BOP is very pretty and the huge surge in volume is why I like this chart. The fundamentals are good but not great, with EPS growth going negative after growing between 108% and 278% the past four quarters, sales growing between 19% and 313% the past seven quarters, ROE of 16%, and a debt load of 151%. Estimates for YOY earnings growth for 2007 and 2008 are for gains of 11% and 37% respectively. This is probably why fund ownership has grown from 1 to 2 to 5 the past four quarters. This stock chart is not perfect so I would not load up. However, there are clear cut loss areas that make the stock not too risky. Cut your first loss with a close below the 21.77 level and your final loss with a close below the 20.64 level, if the stock does not move higher immediately. Read more
Stocks Rally On Mixed Volume; SOX Index Hits 52-Week Highs
June 22, 2007 | Leave a Comment
It was, once again, another day of stocks rolling over the perma-top callers as a noon rally helped stocks rally till the close where the indexes end near their HOD. Thanks to the Philadelphia Fed Reserves manufacturing activity in the mid-Atlantic region climbing the highest since April 2005, stocks managed to produce strong gains. The Nasdaq led the way with a .7% gain, the NYSE and SP 500 rose .6%, the DJIA gained .4%, and the SP 600 rallied .3%.
The most obvious bright spot, today, came from leading stocks and technology stocks. The IBD 100 outperformed the broad market, once again, with a 1.3% gain. The Philadelphia Semiconductor index gained 3%, hitting a brand new 52-week high. Not to be forgotten, the Nasdaq 100 put in a strong showing, thanks to some strong computer related stocks, with a 1% gain. Read more
No New Short Positions For Friday
June 21, 2007 | Leave a Comment
Do you see why it is not smart to be short at this stage of the bull market. We could easily squeeze 20% higher from here. Don’t believe the LIES the media feeds you about the economy. It isn’t true. The shorts and perma-bears are only making this all the more easier a wall-of-worry to climb.
If this was a bear market, LHCG would make a good short.
LHCG Read more
- No New Short Positions For Monday’s Stock Market Session
- No New Long Positions For Monday’s Stock Market Session
- No New Long Positions For Friday’s Stock Market Session
- One New Short Position For Friday’s Stock Market Session
- No New Short Positions For Thursday’s Stock Market Session
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