Monday, February 25, 2008

Trading for 2/26/08

The market had a good day today, rallying late in the day. IBD has just changed their outlook back to a confirmed rally. So do we go higher? Who knows. But a few of my picks broke out today, but some just barely. Let's look at them:

CMED was a pick from last week that broke out on Friday. It had a nice follow through today.

CF was a pick from last night, and it broke out today and finished strong.

JRCC also broke out. It was apparently downgraded in the morning, and gapped down. I wrote it off then. But it rallied hard all day long and broke the buy point on good volume.

I had two buy points for ILMN, and it broke through both of them, resting just above the top one. I have a stop at the first buy point.

BZP was also a pick from last night, and had a similar day to JRCC. It gapped down then rallied hard. It broke the buy point slightly, then pulled back. Volume was weak though. I would try a breakout tomorrow if volume is there.

I didn't have HES on last nights list, but I did post it last week. It broke out today.

Here are some of the stocks I will be watching tomorrow. Remember, volume is needed to confirm these buy points:


A previous pick, CNX:


KGC is a gold stock, and gold broke out last week. If gold goes higher, this stock should do the same.

PCLN looks like it's building a base, which could launch it higher.

Good luck and good trading!

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