There are 2 stocks in the IBD 100 that have been highlighted in the Monday edition of Investors Business Daily as being near their buy points.
They are WDC & NOK
Sunday, February 24, 2008
Thursday, February 21, 2008
Trading for 2/22/08
A light volume down day today, but that didn't stop a couple of my picks from last night performing well today.
PTEC was the big performer. I told you it had to do something. Today it broke out and rallied +7.47%.
DAR also broke out nicely.
I didn't have this stock on last nights picks, but I posted the chart on Monday. It's VNUS and it moved nicely today. If you missed it, don't feel bad; so did I.
MON broke above the 120 mark that I was watching. In fact, it gapped over it right at the open, and again later in the day, but it ended up being a disappointment. That's ok. Can't win them all. Maybe tomorrow.
BUCY gapped up over the buy point, but quickly sold off. I don't buy gap ups if I can help it, and fortunately, I didn't have a buy stop for BUCY. It closed down -1.3%.
I still think the market will go much lower at some point soon. But as long as stocks are breaking out, I plan to trade them. Until then, I'll just keep playing the stocks with the most mo'.
Here are some stock's I'll be watching.
BZP was a past winner, could be a future one too.
CMED, come on, I'm pulling for you!
CPHD:
ILMN. Looks kind of like a cup and handle.
OI is another past winning trade, and is holding up after 4 down days in a row. I will need to see some heavy volume with a breakout on this though. I am skeptical.
Still waiting for YTEC.
Thanks for those who commented last week. Nice to hear your feedback.
Good luck and good trading!
PTEC was the big performer. I told you it had to do something. Today it broke out and rallied +7.47%.
DAR also broke out nicely.
I didn't have this stock on last nights picks, but I posted the chart on Monday. It's VNUS and it moved nicely today. If you missed it, don't feel bad; so did I.
MON broke above the 120 mark that I was watching. In fact, it gapped over it right at the open, and again later in the day, but it ended up being a disappointment. That's ok. Can't win them all. Maybe tomorrow.
BUCY gapped up over the buy point, but quickly sold off. I don't buy gap ups if I can help it, and fortunately, I didn't have a buy stop for BUCY. It closed down -1.3%.
I still think the market will go much lower at some point soon. But as long as stocks are breaking out, I plan to trade them. Until then, I'll just keep playing the stocks with the most mo'.
Here are some stock's I'll be watching.
BZP was a past winner, could be a future one too.
CMED, come on, I'm pulling for you!
CPHD:
ILMN. Looks kind of like a cup and handle.
OI is another past winning trade, and is holding up after 4 down days in a row. I will need to see some heavy volume with a breakout on this though. I am skeptical.
Still waiting for YTEC.
Thanks for those who commented last week. Nice to hear your feedback.
Good luck and good trading!
Wednesday, February 20, 2008
Trading for 2/21/08
It didn't look like much was going to happen today, but the market took off around noon, and took some of last nights picks with it. Most of which were stocks that broke out yesterday but then pulled back under the breakout point.
CALM was a pick from Monday night which broke out yesterday, and had a fantastic day today.
I have been watching AKS for awhile. It broke yesterday but pulled back under the breakout point, and I said I would try again if it broke the blue line, and it did...nicely.
RRC also broke out yesterday but pulled back, and was worthy of a try again today.
The same goes for MOS
And one of my favorite stocks, CMO, offered a a buying opportunity today.
WLT was a pick from last week. It offered a profitable trade then, and I am not longer in it. But congrats to anyone who bought and held, you had a good day.
Here are some stocks I will be watching tomorrow.
ALC: Volume on the recent down day is a bit concerning though.
BUCY:
BZP:
CMED:
CPHD:
DAR: A past winner, may try again.
IMLN has two buy points, depending on how conservative you are:
JRCC: Another past winner, consolidating here.
MON handing out under 120
OI:
PTEC has to do something very soon.
As does YTEC:
Good luck and good trading.
CALM was a pick from Monday night which broke out yesterday, and had a fantastic day today.
I have been watching AKS for awhile. It broke yesterday but pulled back under the breakout point, and I said I would try again if it broke the blue line, and it did...nicely.
RRC also broke out yesterday but pulled back, and was worthy of a try again today.
The same goes for MOS
And one of my favorite stocks, CMO, offered a a buying opportunity today.
WLT was a pick from last week. It offered a profitable trade then, and I am not longer in it. But congrats to anyone who bought and held, you had a good day.
Here are some stocks I will be watching tomorrow.
ALC: Volume on the recent down day is a bit concerning though.
BUCY:
BZP:
CMED:
CPHD:
DAR: A past winner, may try again.
IMLN has two buy points, depending on how conservative you are:
JRCC: Another past winner, consolidating here.
MON handing out under 120
OI:
PTEC has to do something very soon.
As does YTEC:
Good luck and good trading.
Tuesday, February 19, 2008
Trading for 2/20/08
I threw out my rule yesterday about not trading the first hour, after a buy stop I had from last week triggered at the open. I also saw two other picks from last night acting very frisky, so I tried to go with it. Here's how some of the picks did:
The biggest was performed was MTL. My caution kept me out of this one though. What a breakout! It even closed strong.
CLF was also a pick from last night that started quick and ran until later in the day where it started to sell off. It reports earnings on 2/21, so be careful if you are holding this. As a general rule, I try to be out before earnings.
GLD also broke the shoulder I mentioned last night, so it looks like it will go higher from here.
POT broke out today, I did take this one for a day trade. Will try again later if it looks good.
I didn't post CF last night, but I did have it as a pick last Wednesday, and I had a buy stop order in for this one, which was triggered right at the open. I didn't expect it to trigger. or I probably would have canceled the order. Good thing! This was why I threw out yesterdays plan to not trade the first hour. I left this order open and was in it, so what the heck. May as well trade.
AKS also broke out finally, but sold off. Would try again if conditions are right.
Here are some picks I will be watching tomorrow:
Waiting for CMED
I like CREE , but not if it goes any lower.
There is some resistance just above 85. If HES can break that, then it could go higher.
I mentioned last night that MON could be a buy after it breaks 120. Today it reached 119.99. There is clearly some resistance there. Let's see if it can break it tomorrow. Would try just above 120.
May try MOS if is breaks into new highs tomorrow.
OI
PTEC looks ready to move.
RRC. Technically, this previous winner broke my buy point today, but volume was average. It could try again tomorrow.
YTEC needs to hold support at 17.
I am not posting charts for BMRN and CMO, but they are still on my list. See last nights post.
Good trading.
EDIT: I removed KGC. Earnings are due out on Thursday, so I'll pass.
The biggest was performed was MTL. My caution kept me out of this one though. What a breakout! It even closed strong.
CLF was also a pick from last night that started quick and ran until later in the day where it started to sell off. It reports earnings on 2/21, so be careful if you are holding this. As a general rule, I try to be out before earnings.
GLD also broke the shoulder I mentioned last night, so it looks like it will go higher from here.
POT broke out today, I did take this one for a day trade. Will try again later if it looks good.
I didn't post CF last night, but I did have it as a pick last Wednesday, and I had a buy stop order in for this one, which was triggered right at the open. I didn't expect it to trigger. or I probably would have canceled the order. Good thing! This was why I threw out yesterdays plan to not trade the first hour. I left this order open and was in it, so what the heck. May as well trade.
AKS also broke out finally, but sold off. Would try again if conditions are right.
Here are some picks I will be watching tomorrow:
Waiting for CMED
I like CREE , but not if it goes any lower.
There is some resistance just above 85. If HES can break that, then it could go higher.
I mentioned last night that MON could be a buy after it breaks 120. Today it reached 119.99. There is clearly some resistance there. Let's see if it can break it tomorrow. Would try just above 120.
May try MOS if is breaks into new highs tomorrow.
OI
PTEC looks ready to move.
RRC. Technically, this previous winner broke my buy point today, but volume was average. It could try again tomorrow.
YTEC needs to hold support at 17.
I am not posting charts for BMRN and CMO, but they are still on my list. See last nights post.
Good trading.
EDIT: I removed KGC. Earnings are due out on Thursday, so I'll pass.
Update
I have ignored by plan " I don't plan to buy anything during at least the first hour of trading on Tuesday.", this action is too good.
Monday, February 18, 2008
Trading for 2/19/08
I didn't trade on Friday, as I had mentioned last Thursday. However, one of my picks from last week broke out on very strong earnings. Although it gapped up, it would have provided a nice profit to anyone who bought at the open.
I really don't know where the market goes from here. The SPY has formed a symmetrical triangle.
What this chart doesn't show is the tight consolidation going on right now. The Bollinger bands are inside the Keltner channels, which signifies extreme consolidation. This is usually a good indicator that a big move is about to take place (See Chapter 10 of Mastering the Trade by John Carter). So it appears a big move is coming, but which way, who knows? Buying a breakout or shorting once the SPY breaks the poorly drawn support line I made, could be good trades.
I prefer playing the inverse ETF's, so I am looking at buying SDS if the market makes another downward move:
In addition to SDS, the DXD, QID and TWM all look similar. TWM is closer to the 50 day EMA, so a breakout in TWM could also be a good opportunity too.
I missed a great breakout of GLD, the gold ETF, around Christmas. It made a huge run after breaking out of a symmetrical triangle.
It has formed another one, but not as clean. It could also be a bearish Head and Shoulders pattern. So I would only buy if it broke the right shoulder.
If the market doesn't sell off, then I will be looking for opportunities to buy these stocks. I am going to enter this week with some caution though. I don't plan to buy anything during at least the first hour of trading on Tuesday. Then, I will need to see these stocks break above their buy point on heavy volume. THIS IS A MUST. So just because a stock is listed here, doesn't mean that I will buy it. I will continue to be early in taking profits, scaling out as the stock moves higher, and being aggressive with my stops.
Here's the watch list:
Still waiting for AKS to breakout.
I will only add to this on very heavy volume.
Nice bull flag on CALM.
CLF was first mentioned here on 2/4, and it broke out and ran strong the following day. It looks like it could go higher, but earnings are due on Thursday. I won't hold into earnings.
A lot of medical stocks are doing well, and I like CMED the best. A previous breakout that I am looking to try again.
As I mentioned in previous post, I am fascinated by how well CMO is doing, a mortgage stock. I may have an emotional attachment to it, so realizing that, I may pass.
CREE was an earlier pick that broke out strong. I am no longer in this, but would try again at new highs.
ISRG is consolidating at the 50 day MA.
I would try MON for a quick trade if it breaks 120
Would like to see MTL build a fuller bull flag before ot breaks out.
OI is another previous breakout I had. I am no longer in this either, but could try again at new highs.
As you can see by the lines, I really don't know what to do with POT here, but I will be watching it.
RRC is another previous breakout. It held support on Friday.
Another medical stock, and nice bull flag.
And finally YTEC
Be careful out there and good trading.
I really don't know where the market goes from here. The SPY has formed a symmetrical triangle.
What this chart doesn't show is the tight consolidation going on right now. The Bollinger bands are inside the Keltner channels, which signifies extreme consolidation. This is usually a good indicator that a big move is about to take place (See Chapter 10 of Mastering the Trade by John Carter). So it appears a big move is coming, but which way, who knows? Buying a breakout or shorting once the SPY breaks the poorly drawn support line I made, could be good trades.I prefer playing the inverse ETF's, so I am looking at buying SDS if the market makes another downward move:
In addition to SDS, the DXD, QID and TWM all look similar. TWM is closer to the 50 day EMA, so a breakout in TWM could also be a good opportunity too.
I missed a great breakout of GLD, the gold ETF, around Christmas. It made a huge run after breaking out of a symmetrical triangle.
It has formed another one, but not as clean. It could also be a bearish Head and Shoulders pattern. So I would only buy if it broke the right shoulder.
If the market doesn't sell off, then I will be looking for opportunities to buy these stocks. I am going to enter this week with some caution though. I don't plan to buy anything during at least the first hour of trading on Tuesday. Then, I will need to see these stocks break above their buy point on heavy volume. THIS IS A MUST. So just because a stock is listed here, doesn't mean that I will buy it. I will continue to be early in taking profits, scaling out as the stock moves higher, and being aggressive with my stops.
Here's the watch list:
Still waiting for AKS to breakout.
I will only add to this on very heavy volume.
Nice bull flag on CALM.
CLF was first mentioned here on 2/4, and it broke out and ran strong the following day. It looks like it could go higher, but earnings are due on Thursday. I won't hold into earnings.
A lot of medical stocks are doing well, and I like CMED the best. A previous breakout that I am looking to try again.
As I mentioned in previous post, I am fascinated by how well CMO is doing, a mortgage stock. I may have an emotional attachment to it, so realizing that, I may pass.
CREE was an earlier pick that broke out strong. I am no longer in this, but would try again at new highs.
ISRG is consolidating at the 50 day MA.
I would try MON for a quick trade if it breaks 120
Would like to see MTL build a fuller bull flag before ot breaks out.
OI is another previous breakout I had. I am no longer in this either, but could try again at new highs.
As you can see by the lines, I really don't know what to do with POT here, but I will be watching it.
RRC is another previous breakout. It held support on Friday.
Another medical stock, and nice bull flag.
And finally YTEC
Be careful out there and good trading.
Subscribe to:
Posts (Atom)
