One New CANSLIM Long Position And One New Speculative CANSLIM Long Position For Wednesday’s Trading Session

November 27, 2007 | Leave a Comment

new CANSLIM long position: EGN

EGN is bouncing right off the 50 day moving average, on strong volume. I really like this stock’s chart since 11/8 when the stock put in a very bullish “spinning top” candlestick pattern bullish session on huge volume with BOP going green. Since then the stock has pulled back very quietly to the 50 day moving average, with green BOP steadily growing to the potential max green BOP level, and the RS line has held up very well even making higher lows while the stock consolidated. The intraday support this stock has received, also, the past fifteen sessions has been very impressive in a market that has seen its high fair share of late-day reversals with some market sessions coming with the indexes closing near the LOD. Those slight bullish technical attributes is what will make the difference in this stock being a great long compared to a stock with weak closes that has a higher chance of failing. Obviously, if BOP was max green since the 11/8 move and the RS line was hitting new highs ahead of the price, I would be pounding the table on this one as it is a Utility stock which is a sector that does very well in weak markets. On top of the nice chart, the fundamentals are great, with EPS growing from 22% to 43% the past three quarters, sales growing between 1% and 45% the past eight quarters, an impressive ROE of 33%, a strong cash flow of $5.32 a share, 48% debt, an EPS growth rate of 31%, a timeliness rating of A, a sponsorship rating of C, a composite rating of 96, an Acc/Dis rating of B, an SMR rating of A, an EPS rating of 95, and YOY earnings estimates fro 2007 and 2008 for a gain of 32% and a loss of 3% respectively. Fund ownership has been growing the past three quarters from 145 to 150 to 155, showing increasing interest by the smart money. That can be directly contributed to the weakening market and rising EPS/sales. The stock also has a dividend yield of .7%, giving it just one more bonus to all the goodies it already has. If this stock fails, so be it, our cut loss is very close. However, I really like this stock in this horrible market and this will be my biggest long position since my failed venture into FNDT on 11/1. And that right there, my friends, should prove to you that the best traders wait for the right moments to go long. Cut your loss with a close below the 50 day moving average, if the stock does not move higher immediately.

Posted by Joshua Hayes | Filed Under Free Archives Longs

Two New Short Positions For Wednesday’s Trading Session

November 27, 2007 | Leave a Comment

new short positions: MDU IMO

MDU is breaking down at the downtrending 50 day moving average, on very strong volume. Cut your first loss with a close above the 50 day moving average and your final loss with a close above the 200 day moving average, if the stock does not move lower immediately.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

Selloff Continues As Bottom Callers Continue To Look Foolish; Adding/Establishing Short Positions In The Stock Markets Former Leaders

November 26, 2007 | Leave a Comment

The selling we saw on Wednesday continued today, after a slight one day oversold bounce. The bounce we had on Friday was on a half day and was on no volume so obviously the selling today can’t be too surprising to trend followers as it was very clear the low volume rally would probably not hold. And it definitely did not as some indexes hit new 52-week lows like the Russell 2000. The index that led us up from 2002 is now leading us down as we continue to selloff. This index is now almost 15% off its highs for the year and the major indexes are off between 10% and 11% officially putting us back in a correction mode.

Posted by Joshua Hayes | Filed Under Free Commentary

Longs and Shorts for November 27th

November 26, 2007 | Leave a Comment

New Longs: ARD WATG II

New Shorts: ARE WR NHP WABC CINF WTNY

Posted by MarketSpeculator | Filed Under Free Email Picks Archive

Six New Short Positions And Six Stocks I Am Adding To My Existing Short Positions

November 26, 2007 | Leave a Comment

There are three shorts that must be kept a bit smaller due to them being down so much already and that is WABC, WTNY and CINF. However, these have so much room to possibly fall that you shouldn’t be too worried about keeping them too small. It is really just something to be aware of. The other candidates have not had quite the selloff that those three have. But really it doesn’t matter. When you look at a weekly of all of these, you can clearly see that all of these have a long way to possibly fall before they find a bottom. They are all rolling over and breaking down on huge distribution. All of them. I am blessed in that I am very comfortable holding hundreds of positions but if you can’t trade them all just make sure you adhere to my cut losses on the ones you do choose.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

One New CANSLIM Long Position, One New Speculative CANSLIM Long Position, One New Speculative Long Position, And Two Stocks I Am Adding To My Existing Positions

November 26, 2007 | Leave a Comment

Absolutely none of these are going to be large position. Unlike most traders, I can handle hundreds of positions and still handily beat the market which is why I am going long all of these stocks. However, for those that are new to investing or who have been having a rough time in this market, I recommend that you remain in cash or continue to work on the short side ever so vigilantly. Going long right now has not been the right play in the overall trend of the market but some have been doing well and all of these are set up in strong enough patterns to move higher despite the rough market. However, nothing here is perfect and three of the five are too extended and the other two are too volatile day-to-day to make good longs. Keep them small, professionals. Newbies stay away. I know all of this might sound like it is getting old but trust me this is the way the best traders trade. There are very few MUST BUY moments where you get a perfect chart. We only got two that worked this year and it could be months before we get another one. Being patient and waiting for the next TASR is what you have to do so that you have a lot of money to put to use when you find the next TASR. That is when it is time to load up. Until we find another TASR, every long must remain small until we get another perfect chart like HRZ AFSI and TESO were.

Posted by Joshua Hayes | Filed Under Free Archives Longs

Longs and Shorts for November 26

November 25, 2007 | Leave a Comment

New Longs: No New Positions

New Shorts: No New Positions

Due to Holiday shortened session on Friday the scans were empty. BITI Can still be taken as a new long as it only closed 2 cents above Wed. close.

Posted by MarketSpeculator | Filed Under Free Email Picks Archive

No New Long Positions For Monday’s Market Session

November 23, 2007 | Leave a Comment

Enjoy your extended Thanksgiving weekend. There were only 9 stocks that showed up in the long scans and the IBD scan was near empty of anything with volume over the 50 day volume average. Out of those few stocks to choose from, none of them would make good longs at the point they are at on their charts. Therefore, we only have BITI from Wednesday to still work with. It still makes a good long here as it closed just .02 cents higher than on Wed. Those who went long this stock were given a blessing as the stock opened lower and gave us great fills and a quick 6% gain. The only poor action to report on was that the BOP went from max green (100) to green (88). Enjoy your long weekend! Aloha!

Posted by Joshua Hayes | Filed Under Free Archives Longs

No New Short Positions For Monday’s Market Session

November 23, 2007 | Leave a Comment

Enjoy your normal extended Thanksgiving weekend! There was only one short in the one scan and only four in the other short scan. None of those will make good shorts where they are at so we are left with what we had on Wednesday. Once again, enjoy your long weekend. Aloha!

Posted by Joshua Hayes | Filed Under Free Archives Shorts