Sunday, February 10, 2008

Trading for 2/11/08

Six of my stock picks from last week triggered this past Friday. With the market as volatile as it is, I am taking partial, if not all profits quickly, even with short positions. If I can pull any money out of this market, then it is a victory.

Before I get to my stock picks for this week, lets take a look at Fridays breakouts:

I mentioned CMO on Monday. All I know about this company is that it's a mortgage company. I wouldn't expect a mortgage company to have a chart this nice.

JRCC was mentioned on Wednesday. It had a nice breakout on good volume and looks like it wants to go higher from here.

Although I didn't post the chart, I mentioned on Monday that CLF was on my list. It broke out on Friday with good volume.

RRC was mentioned here on Thursday. Volume was not impressive, but did offer a small profit.

MEE has been a good performed since first mentioned here on January 27. I had it listed as a buy again on Thursday. It broke again out on Friday, but retraced. Nice for a day trade.

CREE was also mentioned on Thursday. It barely broke out. It could offer another buy opportunity this week.

Now on to the stocks I will be watching for this coming week. I have a lot of them. My buy point is when the stock crosses the upper blue line on heavy volume. These are listed in alphabetical order by ticker symbol.

The first two have earnings due this week. Because of that, I will probably pass on these unless the setup is perfect and I have time to watch them. I will not be holding into earnings.













INCY is still on my list as well.

I am out of my TWM trade for +$2 per share. I didn't have the guts to hold it longer. Any profits is a good profit in this market.

Good trading.

No comments: