Trading for 2/12/08

Like Friday, today was a good day for me in the market. Actually, a great day for me in the market! I made some good money today. I had some picks from yesterday that broke out, and breakouts some from last Friday that continued to run. Here's how my picks did:

I mentioned yesterday that CREE "could offer another buy opportunity this week". It offered that opportunity today.



CNX was a pick from yesterday. I was hoping it would pull back slightly in the morning. Instead, it took off an ran all day.



BZP broke out in the morning and held strong.



OI, a pick from yesterday, did well today.



CLF was a pick from last week that broke out in Friday and did very well today.



PTEC broke out today as well. Also a pick from yesterday.



JRCC was a also pick from last week that broke out on Friday. I mentioned yesterday that "looks like it wants to go higher from here". It did move higher today.



RRC, another pick from last week that did very well today.



MOS was a pick from yesterday, which barely broke out toward the end of the day. Finished strong though.



Now here are my picks for tomorrow. The buy point is when the stock passes the upper blue line on heavy volume. In alphabetical order by ticker symbol:

AKS



BMRN



CMED



COIN



DAR



FCL



INCY



WLT

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.

ANR:



AUXL:



BMRN:



BZP:



CMED:



CNX:



DAR:



ELN:



KGC:




MOS:



OI:



PTEC:



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.

IBD 100 Stocks Near Their Buy Point for 2/11/08

There are no stocks in the IBD 100 that have been highlighted in the Monday edition of Investors Business Daily as being near their buy points.

IBD Market Pulse: Market is in a correction.

Trading for 2/08/08

Stocks had a decent day today, fighting off the bears on better than average volume. The market is pausing right now, trying to decide where to go. I think it will go down, but I could be wrong.

As mentioned last night, I was looking to short BIDU if I got a good price, and it offered (what I think is) a great entry.



Noen of my stocks from last night broke out, but they held up and I still like them for short term trades if the market does well.







Here are some other momentum stocks that are a bit more risky, but could move:

Trading for 2/07/08

Here we go, the next leg down. From here we should test the January lows, if not move lower.

I entered TWM prematurely this morning. It is my favorite short inverse ETF, and I believe it will go higher.



BIDU broke its 200 EMA and broke a bear flag like pattern. This spells doom for BIDU. I may short this if I can get a good price.



Believe it or not, I found a couple of stocks that look good on the long side. I am sure these will be taken down soon, but if they show some strength, I may try for $1 or $2.

JRCC:



DAR:



CMED:



I will try these only if they breakout on heavy volume, and if the market is moving with them.

I will be keeping stops tight and taking profits early.

Good trading.

Trading for 2/06/08

Well, today was a terrible day for longs in the market. Needless to say, none of my long picks from last night triggered. FSLR though, which I mentioned was looking bearish, proved to be a great short today. DEPO showed why low volume breakouts should not be bought.

I think this is the start of another downward thrust which will test the previous lows. But hey, thats what everyone is saying. I will look to get positioned in TWM or DXD, which are double the inverse of the Russell and Dow.

My buy signal will be when the %K and %D lines of the slow stochastic cross 20.

Stock Picks

Low volume down day in the market, except for Chinese stocks. Some of the stocks I posted here last night broke out today. They were:

PTEC broke out on heavy volume:



DEPO broke out as well, but volume was normal:



COIN ran huge at the open, but sold off the rest of the day. I passed.



Some picks from last week also did well today.

MEE continues to move on nice volume:



As mentioned last night, AZZ broke out on Friday, but gave it back. However, it did nicely today.



Here are some other stocks I am adding to my watch list this week:

Here's a mortgage stock that is up 20% so far this year. Go figure? It looks like it could go higher:



PCLN looks good over 110:



May try CMED at 51:



I like INCY at new highs:



CCC, CLF and LNN are also on the list.

Also, did DRYS get rejected at the 50 EMA?

FSLR is running into resistance in the 200 area, and is forming a bear flag-like pattern.

Good trading.

Watch List

From my picks last week, the best performer has been AUXL:



Another pick from last week broke out on Friday, it was MEE:



AZZ also broke out, but retraced.

A stock I missed, but also broke out last week was MA:



It might be worth a try over $220.

I didn't find many good charts, but here are a few I'll be watching. I will be looking to buy breakouts on heavy volume.

Nice symmetrical triangle on DEPO:



PDGI may be a buy when it breaks into new highs:



I may try PTEC over $15.50, but heavy volume is a must:



The symmetrical triangle on COIN may not be as nice as the one for DEPO, but it has to break one direction or another, and this stock is a mover:



Good trading.

IBD 100 Stocks Near Their Buy Point for 2/04/08

There are no stocks in the IBD 100 that have been highlighted in the Monday edition of Investors Business Daily as being near their buy points.

IBD Market Pulse: Market is in a correction.