One New CANSLIM Long Position, One New Very Speculative CANSLIM Long Position, And Four Stocks I Am Adding To My Existing Long Positions

December 4, 2007 | Leave a Comment

Nothing here excites me so much as I am going to fall over myself in accumulating it but if I have to say which one is my personal favorite out of the bunch I would say FFH is. I definitely know that I want to accumulate more FFH here and only wish that it had better long-term fundamentals so I could add more. However, only the most recent quarter shows any strength and the average daily volume is small so despite the beautiful green BOP filled chart I simply can not “load up.” ININ’s pattern is a bit tricky for me to want to establish a large starter position. If the base was longer and a bit more flat I am sure I would like it more. But that is not what happened so I am not going to get too much. INOC is very pretty on the short term but has way too many things wrong with it to make a great long. The best bet is to keep these small and most should completely avoid CSIQ.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

December 3, 2007 | 1 Comment

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.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

November 26, 2007 | Leave a Comment

Absolutely none of these are going to be large position. Unlike most traders, I can handle hundreds of positions and still handily beat the market which is why I am going long all of these stocks. However, for those that are new to investing or who have been having a rough time in this market, I recommend that you remain in cash or continue to work on the short side ever so vigilantly. Going long right now has not been the right play in the overall trend of the market but some have been doing well and all of these are set up in strong enough patterns to move higher despite the rough market. However, nothing here is perfect and three of the five are too extended and the other two are too volatile day-to-day to make good longs. Keep them small, professionals. Newbies stay away. I know all of this might sound like it is getting old but trust me this is the way the best traders trade. There are very few MUST BUY moments where you get a perfect chart. We only got two that worked this year and it could be months before we get another one. Being patient and waiting for the next TASR is what you have to do so that you have a lot of money to put to use when you find the next TASR. That is when it is time to load up. Until we find another TASR, every long must remain small until we get another perfect chart like HRZ AFSI and TESO were.

Posted by Joshua Hayes | Filed Under Free Archives Longs

No New Long Positions For Monday’s Market Session

November 23, 2007 | Leave a Comment

Enjoy your extended Thanksgiving weekend. There were only 9 stocks that showed up in the long scans and the IBD scan was near empty of anything with volume over the 50 day volume average. Out of those few stocks to choose from, none of them would make good longs at the point they are at on their charts. Therefore, we only have BITI from Wednesday to still work with. It still makes a good long here as it closed just .02 cents higher than on Wed. Those who went long this stock were given a blessing as the stock opened lower and gave us great fills and a quick 6% gain. The only poor action to report on was that the BOP went from max green (100) to green (88). Enjoy your long weekend! Aloha!

Posted by Joshua Hayes | Filed Under Free Archives Longs