One New Very Speculative CANSLIM Long Position For Monday’s Trading Session

November 10, 2007 | Leave a Comment

This market is no longer rewarding longs like it used to. The fact that FNDT and EXLS got taken to the woodshed yesterday proves that the time to go long has passed. I am not for sure that the bull market from the 2002 lows are over but I would not be surprised if it is. For the first time, that I can remember from the March 2003 follow through, there are no leading sectors that are taking over from an old leading sector. All the old-leaders have been hit and all the current big-cap tech leaders are now hit also. The last group remaining was solar stocks. And after the stunning move by FSLR, it appears the juice might have been squeezed out of these stocks as SPWR and JASO have put in very significant reversals. So, to sum it up, I do not recommend anybody going long stocks until you see me freaking out over how pretty the chart is and how strong the fundamentals are. Until we get a perfect looking chart setting up and breaking out from a proper base, I recommend staying away from longs. It has been an amazing five year run and this pullback looks much more vicious than the pullback in 2004, 2005, 2006, and in February and August this year. This pullback is hitting all the leaders and now there is nowhere to hide. R.I.P. bull market October 2002-November 2007. I hope I am wrong but to be honest a big fat bear is what we need to get the VIX at a level to where our new longs from hot pretty chart patterns will produce 300% plus gains in six months.

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; Bull Market Appears To Be Near An End

November 7, 2007 | Leave a Comment

The time to make big money in longs has passed. There are a lot more short candidates that are setting up in better short patterns than there are long candidates setting up in great long patterns. It appears the tide has finally changed. Granted most indexes are still in a very strong uptrend but all the new long candidates have recently been shit and after today’s action in the indexes it is time to say so long to the big money on the long side. If FNDT can not follow-through today with that near-perfect chart then it definitely is not time to be loading up on longs anymore. It is so disappointing how few perfect charts appeared this year. But what is even worse is that when the near-perfect ones show up only a few work (APPY is the only one recently). DGC and XPL are both too thin and speculative for new investors and experienced investors should keep them small as the market has turned in favor of the bears, even though we are still close to new highs. The extremely horrible breadth, the large amount of stocks hitting 52-week lows, and the amount of large cap stocks breaking down (C MER GS LM WM etc…) are all clear signs that the market is nearing an end to its bull run. This isn’t the August 29th follow-through anymore, Toto!!

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

November 7, 2007 | Leave a Comment

Obviously I do not like going long this many stocks in one day but after reviewing the charts and the fundamentals of everything it would be foolish to pass up on any of these. You have to remember that I am not very good at picking out the best of the bunch most of the times when I have a lot of longs to choose from. Therefore, I just take all of them, cutting the losers fast and adding to the winners as they move higher. That is what I am doing, once again, to FNDT. FNDT is, once again, my favorite stock tonight. The chart is very pretty and well constructed and the fundamentals are very strong making it a great long. If you have daily graphs you can see its beauty for yourself as most numbers and letters are very high. Out of the new CANSLIM longs WFR, ATLS, and ABAX are the strongest with all of them breaking out of short consolidations on top of bigger consolidations or in ATLS’s case breaking out of a great saucer with handle pattern on a big ascending base pattern. These higher priced stocks are the best bets for steady consistent gains. TSCM is a strong stock in one of the best industry groups but the company is too well known on my end and I don’t know if it is worth loading up on. PRO is too new to be a big position but the chart is very pretty for an IPO with the green BOP and the fundamentals are very strong so it is still worth a poke for everyone. PRO is very thin so make sure a limit is used. PTT has a hot chart and was once a big winner for me. It’s fundamentals are starting to increase at a much more rapid pace and estimates are very strong so it is worth starting a position here especially with BOP max green. GSB has a strong chart but the fundamentals are growing at a very rapid rate making the chart look that much nicer subconsciously. SQNM is the prettiest and greenest chart tonight but sadly the EPS is horrible. Also the chart loses its perfect beauty as BOP fell from the max green level two days ago. After rebounding back to max green, it fell today on the very strong bounce. That shouldn’t have happened. As I said earlier, FNDT is my favorite of all the stocks. CYBS and TSL are both of excellent quality with CYBS with a beautiful max green BOP filled chart (second favorite chart after FNDT) during this base and an EPS rating of 92 and TSL with a very well formed chart and extremely powerful EPS and sales growth (over 100% growth in EPS and sales in all but one EPS quarter–15 for 16). So they are all great and all have excellent selling points. All I know is that FNDT is my personal favorite. Doesn’t mean it is going to be the fastest mover. But it is as close as I can get to feeling like it should be a “for-sure” play (yes!, I know nothing is for sure).

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

November 3, 2007 | Leave a Comment

FNDT is my favorite chart in the bunch, with its max green BOP, heavy accumulation, and bullish intraday reversals the past two days. It would be a “perfect” chart if BOP would have been max green the entire month of October leading up to the current action. STRN trades too few shares a day for me to get excited about it. New investors should stay away. Everyone knows I love the ASTI chart and its most recent quarterly sales. But its EPS is bleeding red ink and the BOP is not and has not been max green from mid September to now. Without that max green BOP, there is no way I can fall in love, pound-the-table, and recommend ASTI for everyone. But, damn, that is a very pretty chart. Very pretty. SMBL is a very pretty chart but the fundamentals are horrible so there is no way I can get too excited over this one either. However, there is no doubt this is a very green and pretty chart with a very low risk to possible high reward ratio.

Posted by Joshua Hayes | Filed Under Free Archives Longs

One New CANSLIM Long Position, One New Speculative Potential CANSLIM Long Position, And One Stock I Am Adding To My Existing Position

November 1, 2007 | Leave a Comment

I am not a big fan of the chart of CPLA but the fundamentals are so strong and the breakout is to a new all-time high that I have to poke some. Still it is not going to be big. BIDZ has some incredible growth in the most recent quarter and the breakout came with green BOP so that is good enough for me with the market being as weak as it was today. My favorite chart is FNDT. The max green BOP with the huge surge in volume and the bullish intraday reversal right off the 50 day moving average makes this chart a very near perfect candidate. Too bad BOP was not max green during the whole month of October. If that would have been the case, I might have loaded up.

Posted by Joshua Hayes | Filed Under Free Archives Longs