Two New CANSLIM Long Positions, Two New Speculative CANSLIM Long Positions, And Two New Speculative Positions For Friday’s Stock Market Session

January 31, 2008 | Leave a Comment

Today was indeed a follow-through day but everyone you must realize that this happened no less than five times (could be more but a quick glance shows five) during the bear market from 2000-2002. When the GDP, stock market, and Fed interest rates are all falling, the stock market is in a bear market. Period. However, you will always get rallies that last a little while that do help bull stocks in bear markets do well. If you look at the volume today on the follow-through and compare it to the volume on the selling earlier this month you can see that it isn’t necessarily encouraging and hinting at a “for sure” bottom. So all of these longs are going to be small due to the prevailing trend and lack of perfect charts in this group. I would buy a LOT more of INFA if it would have closed up anywhere from 5% to 10% but instead the 12% gain makes it a bit risky to load up here. Therefore, I will be waiting for a low volume pullback before putting too much capital to work in this diamond in a mine of rough charts. GILT, TNS, and APOL are all HOT and very pretty charts but they are not perfect and the big trend is still very much down in this market so I must suggest, one more time, caution with these longs. I would prefer it if newbies stay away from XTLB and CLHB as the fundamentals do not make them safe enough for you guys. Remember, folks, I am still around 50% cash and I plan on staying that way until a few more CANSLIM quality longs show up (if you don’t know what CANSLIM entails, get your butt over to investors.com).

Posted by Joshua Hayes | Filed Under Free Archives Longs

No New Long Positions For Thursday’s Stock Market Session

January 30, 2008 | Leave a Comment

Despite what the FOOLISH Cramer, Marcin, and Kass tell the public, the public NEEDS TO STAY FAR AWAY FROM LONGS, right now. Tell Cramer, Marcin, and Kass to shove it!!!! and save yourself a lot of pain. You need to realize YOU DO NOT NEED TO BUY STOCKS FALLING DOWN. You can wait till they are moving up again in a larger uptrend and THEN buy them. You newbies that are making life hell for me and my chat room members with your ignorance need to realize Cramer and the rest of the fundamental only FOOLS have gotten you to this position in your life where you are coming to my site to make money. Some people need to realize the BS they are being Fed by boys with insiders as their BEST FRIENDS on Wall Street and start listening to the analysis of the greatest traders of all time and what they say about markets like this. Do you know what THEY ALL SAY? STAY AWAY FROM THE LONGS UNTIL WE HAVE A FOLLOW-THROUGH DAY ON HIGHER VOLUME WITH A LOT OF LEADING STOCKS SETTING UP IN GREAT BASES WITH PERFECT VOLUME AND PRICE CHARACTERISTICS. Until we have one of those, you newbies need to learn to stop trading and just wait. If you are new to the stock market and the gains of the last bull got you to this point, you need to realize you are showing up at the end. If you don’t understand what I am talking about, you, my friend, are going to be in big trouble by the time this downtrend plays out. Do you think the Fed cuts like this with everything going well in the market? OF COURSE NOT!

Posted by Joshua Hayes | Filed Under Free Archives Longs

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 | Leave a Comment

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.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

January 28, 2008 | Leave a Comment

The two new longs are both Medical stocks which to those reading this site for a while should be no surprise. Neither one are perfect and both show some heavy volume on the pullback leading to this bounce. So that could end up being a problem. But considering where these stocks sit at relative to their 50 day moving average compared to the gains they could return if they work it seems like both are worth a poke. Especially with them both being over $40. It is not like they are trash $5 stocks. CZZ is a great IPO Ag stock with a nice green chart but it has gotten very wild and the sector seems toppy so be careful with that one.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

January 25, 2008 | Leave a Comment

We have the exact situation as we did on Thursday night as the only stock that has a very nice chart is LSR and if this chart had green BOP the past six months I would go ahead and call this thin stock a perfect chart. It simply doesn’t get as pretty with the nice price action, volume, and max green BOP in this thin one. Most thin stocks have a tough time making such a nice round base in such a dangerous market but this stock is the exception to that rule. This purchase is going to be a bit bigger as the stock is breaking out to an all-time high and now it is clear skies ahead. It is very thin, like I said, so make sure you use a limit order ONLY on this one.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

January 24, 2008 | Leave a Comment

My long scans continue to be nothing but an empty mess of sloppy and choppy mess. The only long worth a position tonight is LSR. All I am doing with this stock is adding about the same amount that I just covered at the start of Thursday’s trading session. Since it came back and put in a bullish intraday reversal the very next day on very strong accumulation, I feel that I have to take it back in. Besides that, the fact that the stock’s BOP remained max green yesterday and today is a clear sign this stock’s condition is still bullish.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

January 23, 2008 | Leave a Comment

This is the oversold bounce that we have been anticipating. The bounce today came on huge volume and with a very bullish intraday reversal therefore I think it is safe to start looking for some longs to play in the short term. I could only find two tonight as most stocks have been DESTROYED, but at least we have something to play. ALNY is a strong stock with a good stock price over $30 and CPHD has not been effected at all by the bear market and is now, once again, rising with max green BOP. So they are both worth a little poke. However, there is no way either one of these stocks should be a large position of your portfolios as neither have great fundamental growth or perfect charts. So be careful out there and don’t get too cocky that we have put in a real bottom here. To me, it looks like a typical bounce after a nasty selloff. This happened all throughout 2001 and 2002 and if you did not live through that period I suggest you backtest your Nasdaq and SP 500 charts to realize just how powerful these short term bounces can be. There is money to be made on the long side, when you have a bear market bounce, but don’t overextend your stay. When it’s checkout time, it is checkout time.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

January 22, 2008 | Leave a Comment

I see that a TON of amateur traders are now all of a sudden bearish so I think it is safe to say we can expect some longs to work here if that is the case. Even though I do not think we are going to hammer out a bottom any time soon considering how few of stocks that are out there with nice chart patterns, it is still possible we can get a tradeable oversold rally. We may have some early morning pressure but since the daytrader crowd has just NOW turned bearish and since we do have a couple of charts that look good it is possible that we could see a rally. However, don’t count on it lasting that long. We still have not seen any fear from any of the retail crowd. SUNH is a good long since it is in the Medical group with CANSLIM traits and ABX is good because it is a gold stock. That is all I have to say about these, other than keep them small.

Posted by Joshua Hayes | Filed Under Free Archives Longs

One New CANSLIM Long Position And One New Speculative Long Position For Tuesday’s Stock Maret Session

January 19, 2008 | Leave a Comment

CVH is a good stock in a horrible market and if the indexes can start moving up again this stock should outperform. The best part about this stock is that its fundamentals have been steadily growing the past eight quarters. This is a very strong stock but the chart is a bit “whack” so it is best to not load up, just in case it provides us with a whipsaw. As for FFH….F FFH. I hope this time is the right time. I am getting SICK-to-my-stomach over the lack of HOT charts in this bearish phase and the poor action that the few nice charts are providing. This is unlike anything I have seen before. Normally, if FFH is the only stock looking like that, no matter what market we are in, that stock ends up moving higher like it should. But in this market….nothing makes sense. And I lived through the 2000 crash and following rally that gave way to the real selloff. Be careful out there and remember cash is king! I should have more of it raised than just 25% of the accounts.

Posted by Joshua Hayes | Filed Under Free Archives Longs

One New Speculative CANSLIM Long Position And One New Speculative Long Position For Friday’s Stock Market Session

January 17, 2008 | Leave a Comment

Obviously, I do not want anyone buying a lot of any stock in this market environment. But if we have to go long any kind of stock in this environment a food stock is a good place to be. The move on this stock is very strong in a very weak market and can not be denied. As for the speculative stock, I just recommend everyone stay away. This is not a market environment for buying speculative stocks. For instance, I am only going long 50 shares of DVAX. This is probably a stock you should forget about. Be careful out there with this bear market. If you are looking to get long, wait for a medical stock breaking out of a nice base or pulling back to the 50 dma. Until you see that, stay out of the longs.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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