One Stock I Am Adding To My Existing Very Speculative CANSLIM Long Position For Tuesday’s Stock Market Session

December 3, 2007

Like I said this weekend, I love this chart, however with today’s huge surge in volume it still ONLY traded 14.2k shares. This is simple too thin a stock to load up on. The only good news about it is that it does have some good fundamental qualities making it a higher quality stock thus allowing it to carry a $40 plus handle–much better than the cheap junk. The max green BOP and heavy accumulation is just beautiful but the low volume is still more important as this juncture of the market calls for defensive play rather than aggressive trading. Aggressive trading comes when the market is in a clear uptrend with TONS of leaders with nice charts moving up out of great patterns, vise versa for shorting. We definitely do not have that right now and thus you should take caution here. Limit orders only if you decide you want this pretty thin thing. Thin is not hot in the market–fat is.

adding to existing very speculative CANSLIM long position: DIT

DIT is breaking out of this three-week tight base on base pattern, on strong volume. Cut your loss with a close below the 38.90 level, if the stock does not move higher immediately.

dit123__Large_.PNG

Last 5 posts in Free Archives Longs

Posted by Joshua Hayes | Filed Under Free Archives Longs 

Comments

RSS feed | Trackback URI

1 Comment »

No comments yet.

Name (required)
E-mail (required - never shown publicly)
URI
Subscribe to comments via email
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.
StraightStocks Authorized Contributor Best Way to Invest ExpertSeeking Alpha Certified FeedTheBull - Top Stock market and Finance SitesTIMlinks
Disclaimer: Big Wave Trading and all services provided herein are for educational purposes only. Nothing contained within this Web site should be interpreted as a recommendation to purchase, sell or hold a security. All visitors and subscribers should always do further research before making a final investment decision. All subscribers must read and agree to the terms and conditions within Big Wave Trading.com. Any questions or comments may be directed to admin (at) bigwavetrading.com.