Low Volume Rally Runs Right Into Major Resistance: THE FED!; Stocks Selloff On Higher Volume Possibly Ending This Recent Rally

December 11, 2007 | Leave a Comment

What more can you say but WOW!? There is no doubt in my mind that this was one of the worst intraday selloffs I have ever seen in my trading life. Now, I am sure I probably have seen one this nasty before. In fact, in all honesty, I know I have. But it hasn’t been since at least 2000-2002. Since then, I know we have never seen anything like this so late in a day destroying the market like this.

Posted by Joshua Hayes | Filed Under Free Commentary

One New Speculative CANSLIM Long Position, Two New Very Speculative Long Positions, And One New Speculative Long Position For Monday’s Stock Market Session

December 1, 2007 | Leave a Comment

None of these will be large at all as they are ALL WAY TOO THIN AND ALL HAVE EXTREMELY LOW AVERAGE DAILY VOLUME. NOTHING HERE TRADES MORE THAN 41,000 SHARES A DAY ON AVERAGE. That makes all of these longs horrible for newbies. If you are a newbie (and I mean a “what is CANSLIM” newbie) stay away from all of these and don’t even take another look. Your play of Monday is to do nothing. As for the most seasoned professional, if any of these interest you, please keep all of them very insignificant when it comes to the dollar amount invested. KTII is by far the best with a 98 EPS and 94 RS but with an average daily volume of only 3,500, do you really want to risk getting stuck in this one. All of these are LIMIT ORDER ONLY, if you decide to take them.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

November 29, 2007 | Leave a Comment

Anyone that has been a subscriber for longer than two months knows that I am a big fan of DAR’s chart and fundamentals. Sadly, it hasn’t succeeded from any of its past breakouts (there were two the past month) it appears that the third time is the charm as the direction of the market is in its favor now. This bounce/breakout is coming right off its 50 dma and from a longer base than the move two weeks ago giving it higher odds of succeeding. The BOP is very strong and green and the price/volume action has been exceptional the past year, making this a fantastic long. My second favorite tonight is AGX with all that max green BOP all over the chart along with the solid price/volume action. This is easily one of the prettiest charts out there. The first problem with this one is that it is not bouncing directly off the 50 dma but instead a bit above it–that makes it a bit riskier. Second, the stock only averages 11,500 shares a day. That makes it way too thin to acquire a huge position. The EPS has jumped into positive ground with a 500% increase the most recent quarter and sales have grown 463% and higher the past three quarters, making this one of the most exciting stocks out there (just like its max green BOP filled chart) in the stock market universe. This is a limit order only kind of stock. Do not use market orders and do not take too much of it. SWIM’s chart isn’t the best but since the July lows the accumulation has been huge and can not be ignored–just like the EPS and sales growth the past two quarters. This has a potential to be a great stock but the technicals are not strong enough for me to load up, yet. But the weekly sure is near-perfect looking. SHEN used to be a great CANSLIM long but the sales are going the wrong way. However, the chart is bouncing off the 50 dma perfectly on good volume giving us a safe strong trade. CCC and PSMT are two very nice looking longs that I am already a happy owner of and both have very green BOP filled charts going back for a long time giving them extremely strong looking long term charts. As long as their trend is up, that 50 dma is a great area to get CCC and PSMT again. CSIQ is by far my least favorite long but even then it is a very pretty long with max green BOP for the past three weeks straight and all that huge accumulation after the gap higher in November. All of this green all over the chart makes it too nice to pass up but with the fundamentals being horrible and this stock being volatile I am going to keep it very tiny–just for fun. DAR and AGX are my favorites. All the rest are pretty equal, minus PSMT and CSIQ which don’t really float my boat.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

November 28, 2007 | Leave a Comment

When it comes to the longs tonight, there isn’t necessarily one particular stock that blows me away compared to another. Last night, obviously, I liked EGN a lot. Tonight, it still remains within a safe buy area to add to my original position but it doesn’t have the near-perfect quality to it like it did last night. As for the new longs, the best looking one, imo, is SIRT. This stock is bouncing right off the 50 dma area with BOP being green before and on the move. The RS line hitting new highs well ahead of price also gives the final touch on that nice HOD close. My next favorite long is PEGA with all of its growing green BOP on the chart this month to go along with the perfect bounce right off the 50 dma. The only problem with this one is that the average daily volume is a bit light making it a bit of a risky long. The best CANSLIM long tonight is the SRCL chart. SRCL is bouncing off the 50 day moving average perfectly, closing near its HOD, with a pickup in volume, and green BOP before and on the move. So those are my three favorite new ones. EGN and ELMG are the best two I am adding to as both are bouncing off support near or on the 50 day moving average. ELMG is the one I am buying more of since it is showing the giant volume surge today with a bullish candle price bar and a close near the HOD. I already have a lot of EGN and only will be adding a little more here as I feel comfy with what I already have. I am a little beside myself that BOP did not move up and the RS line didn’t go anywhere but it is still going the right way so that is what matters. ANSR is very pretty but the BOP ticked down so that kills the buzz in this chart. It is still pretty but the fact that this important move today came with a downtick in BOP and the price is under $5 makes it too risky a play. My least favorite longs tonight are BR and II. They may be too risky and it is possible I might not add to them.

Posted by Joshua Hayes | Filed Under Free Archives Longs

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

November 27, 2007 | Leave a Comment

new CANSLIM long position: EGN

EGN is bouncing right off the 50 day moving average, on strong volume. I really like this stock’s chart since 11/8 when the stock put in a very bullish “spinning top” candlestick pattern bullish session on huge volume with BOP going green. Since then the stock has pulled back very quietly to the 50 day moving average, with green BOP steadily growing to the potential max green BOP level, and the RS line has held up very well even making higher lows while the stock consolidated. The intraday support this stock has received, also, the past fifteen sessions has been very impressive in a market that has seen its high fair share of late-day reversals with some market sessions coming with the indexes closing near the LOD. Those slight bullish technical attributes is what will make the difference in this stock being a great long compared to a stock with weak closes that has a higher chance of failing. Obviously, if BOP was max green since the 11/8 move and the RS line was hitting new highs ahead of the price, I would be pounding the table on this one as it is a Utility stock which is a sector that does very well in weak markets. On top of the nice chart, the fundamentals are great, with EPS growing from 22% to 43% the past three quarters, sales growing between 1% and 45% the past eight quarters, an impressive ROE of 33%, a strong cash flow of $5.32 a share, 48% debt, an EPS growth rate of 31%, a timeliness rating of A, a sponsorship rating of C, a composite rating of 96, an Acc/Dis rating of B, an SMR rating of A, an EPS rating of 95, and YOY earnings estimates fro 2007 and 2008 for a gain of 32% and a loss of 3% respectively. Fund ownership has been growing the past three quarters from 145 to 150 to 155, showing increasing interest by the smart money. That can be directly contributed to the weakening market and rising EPS/sales. The stock also has a dividend yield of .7%, giving it just one more bonus to all the goodies it already has. If this stock fails, so be it, our cut loss is very close. However, I really like this stock in this horrible market and this will be my biggest long position since my failed venture into FNDT on 11/1. And that right there, my friends, should prove to you that the best traders wait for the right moments to go long. Cut your loss with a close below the 50 day moving average, if the stock does not move higher immediately.

Posted by Joshua Hayes | Filed Under Free Archives Longs

One New Speculative CANSLIM Long Position For Friday’s Holiday Shortened Session

November 22, 2007 | Leave a Comment

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Posted by Joshua Hayes | Filed Under Silver Longs

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

November 20, 2007 | Leave a Comment

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Posted by Joshua Hayes | Filed Under Silver Longs

Three New Speculative CANSLIM Long Positions For Tuesday’s Trading Session

November 19, 2007 | Leave a Comment

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Posted by Joshua Hayes | Filed Under Silver Longs

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

November 14, 2007 | Leave a Comment

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Posted by Joshua Hayes | Filed Under Silver 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