Another Wild Intraday Session Ends With The Big-Cap Technology Stocks Leading The Nasdaq To Small Gains
August 31, 2007 | Leave a Comment
Well, you can’t say it isn’t exciting for the intraday traders who like to trade the index futures and e-minis. However, if you have any time frame longer than a few hours this market is definitely a very crazy market to have to sit through indeed.
One New Short Position For Friday
August 31, 2007 | Leave a Comment
There is nothing special about this short and this will be a very small amount in my portfolio.
new short position: RJET
One New CANSLIM Long Position And One Long I Am Adding To My Existing Position
August 31, 2007 | Leave a Comment
I REALLY LIKE CELG. IT IS NOT PERFECT, BUT IT IS A TOP QUALITY CANSLIM STOCK. ALL IT IS MISSING IS THE GREEN BOP.
Russell 2000 and Nasdaq Leads Stocks Higher As The Market Produces A WEAK Follow-Through Day
August 30, 2007 | Leave a Comment
Stocks started the day off on the right foot and kept climbing higher all day long as the Nasdaq closes at its HOD up an impressive 2.5% and the rest of the indexes close just ticks off the highs. There was no doubt that today was very bullish and good for stocks. The best index was the Russell 2000 with a 2.54% gain. And the best sector index was the Philadelphia Semi Index which put in a really strong 2.79% gain.
One New CANSLIM Long Position, One New Speculative CANSLIM Long Position, And Four Stocks I Am Adding To My Existing Long Positions
August 29, 2007 | Leave a Comment
Once again, the best, are ROS and FALC. MCRS makes a great long only because it is a CANSLIM quality stock. But it still has a lot of risk in it for new investors. The better choices continue to be ROS and FALC. Because, if they work they should produce some strong gains. If they fail, we will not lose much money at all with the cut loss area so close to the purchase point.
No New Short Positions For Thursday
August 29, 2007 | Leave a Comment
There were no stocks in my short scans that would make a good short for tomorrow. They are all either too extended or finished well off their lows.
Selling Hits All The Indexes On Higher Volume; Stocks In My Portfolio Outperform
August 29, 2007 | Leave a Comment
Anyone who has been reading this blog for more than one day should have seen this coming. Today’s selling was expected and the writing was on the TA wall since the rally off the 8/16 lows. However, the timing was off. I was expecting this after Labor Day. Instead it looks like we started some selling early.
One New Short Position And Two Shorts I Am Adding To My Existing Positions
August 29, 2007 | Leave a Comment
The two largest shorts in my portfolios are BNI and ATI. They have both setup great short patterns, again, failing and reversing right at the 200 day moving averages. What makes both of these stocks better shorts than others is that they were clearly both old leaders of the rally off the 2002 lows. Second, both stocks are setting up and breaking down on heavy volume right at a key technical inflection point of the moving averages called a “death cross.” This is when the 50 day moving averages crosses down below the 200 day moving average with the stock trading below both averages. ATI and BNI should both be great shorts. Remember, don’t get crazy with these two. We are waiting to short the hell out of GOOG AAPL RIMM FWLT BIDU BCSI and the other parabolic big-cap tech/leading growth stocks.
One New CANSLIM Long Position And Two New Speculative Long Positions
August 29, 2007 | Leave a Comment
None of these chart patterns are really perfect and warrant a large investment, especially in this kind of market. RADS is nice but the chart is very choppy and goes through some extreme moves, making it a poor long to load up on. FLT is just way too thin to be more than a very small limit order. The best one in the bunch is NUVA and that chart also has its wild and volatile problems. The great thing about that chart is all the green BOP and max green BOP in the chart. If this stock did not have max green BOP and instead had yellow BOP, this stock would not be a long. So, remember, the best one is NUVA and even that one is not that special.
Final 20 Minutes Tell The True Story Of Today’s Action; Volume Continues To Vanish As We Head Into The Labor Day Weekend
August 27, 2007 | Leave a Comment
There really is not a whole lot to talk about when it comes to today’s action. About the most significant thing I could find underneath all the data today was that there were more new highs than lows in the market where the SP 500 and Nasdaq both closed lower. This is positive divergence in a day where the market did not appear to have anything positive going on.
- Two New Short Positions For Friday’s Stock Market Session
- No New Long Positions For Friday’s Stock Market Session
- Two New Short Positions For Thursday’s Stock Market Session
- One New Speculative CANSLIM Long Position And One Stock I Am Adding To My Existing Speculative Long Position For Thursday’s Stock Market Session
- No New Short Positions For Wednesday’s Stock Market Session
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