It is nice to see a few stocks show up as possible future longs again after just losing a lot of the stocks that were looking strong. Stocks that I have on the radar as possible future longs sometime soon include TCBK, ANSW, ORH, WPP, PW, AIPC, AWK, CFL, HTS, HITT, ACM, QSII, PSMT, RMBS, MAXY, IAG, FRD, CMN, and SLW. All of these stock have strong starts and are either building bottoms or right side of bases that we all need to watch for possible future longs if this low volume rally does continue to move higher. If volume comes in to the rally it would be a lot more healthy than what we have now. But at this point in this market I will take whatever we can get. There is no way that I am investing a lot of money in any long right now, until I see a market rally on strong volume and/or top Featured stocks setup and breakout of beautiful bases. When this happens I will be ready to go full margin long. But that probably isn’t going to happen any time soon so I must continue to urge caution on the new longs that you take. Be careful out there and even though the Dollar is getting killed in the currency market, it is still better to be in cash and lose a little buying power than take a massive loss in a stock like FHC. I know some that jumped the gun too early. They are paying for it now after yesterday. Cash is still king.
new long position: LOPE
LOPE is breaking out of a cup base, on average volume. Cut your final loss with a close below the 13.52 level, if the stock does not move higher immediately.
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