One New Speculative Long Position And One Stock I Am Adding To My Existing Long Position For Wednesday’s Stock Market Session

January 29, 2008

The new long tonight is too erratic and choppy really to be considered a strong long in this market. However, if HA is coiled here it should breakout and produce some decent gains. If it don’t the loss is not going to hurt that much. But I am only investing around $250 in it out of a $xxx,xxx account which should show you that it is a play on the chart. If it works, it sure beats cash. FFH is the hottest chart in the market right now and is my largest long holding in my accounts. Good thing I purchased back on 1/18 what I sold at the start of the year or else I would be pretty upset right now. Despite it not being a CANSLIM stock, it is still the hottest chart I have in my portfolio and that is why it is the largest holding. Right now, it is too extended to be worth anything of size. Therefore, I am going to buy a little here with a limit at $310 and $300. FFH is about as nice as it gets right now. If you get a pullback it is worth getting some. I can’t recommend loading up because I think only “balsy” fools should load up here. This market is still nuts. Be careful.

new speculative long position: HA

HA is bouncing off the 50 day moving average and closing at its HOD, on above average volume. I find this chart very nice as it has been in a strong uptrend off the August lows with very strong accumulation and a lot of green to max green BOP along the way up. The stock is probably looking better because EPS grew 156% the most recent quarter with sales up 18% also. I am sure that has helped this stock immensely. Trust me, there is no bias due to the stock having the word “Hawaiian” in it. LOL. Cut your loss with a close below the 50 day moving average, if the stock does not move higher immediately.

adding to existing speculative long position: FFH

FFH is breaking out of a very nice cup base and bouncing off the 50 day moving average, on very strong volume. This stock is very beautiful with all the strong price action, huge accumulation, and green BOP all over this chart since September 2006. The beauty of this long term chart can be seen below in the second chart. The first chart shows how well the recent base has been constructed as the previous uptrend had plenty of accumulation and green BOP that led to a nice quiet base that was formed with green BOP. As the stock started to rise out of the base, a lot of accumulation entered the stock, with BOP remaining green and the RS line leading the stock well into new high ground. The strength of the RS line is more impressive than all the green BOP all over this chart since the selloff in November started in the stock market. I recommend to buy it on pullback to the $310 and $300 level but you could take a small market order. Cut your loss with a close below the 50 day moving average, if the stock does not move higher immediately.

One New Speculative Long Position And One Stock I Am Adding To My Existing Long Position For Wednesday’s Stock Market Session

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