New Stocks on Watch List

Well, with all of the talk about swine flu, I guess I’ll look for a morning scalp up on one of the following:

GNBT, AVII, and DVAX.  DVAX looks like a big mover tomorrow. Thanks, @buysellshort.

Gold still looks strong.  GLD broke through trendline resistance on Friday and is starting to get some chatter.  Most gold related charts look fairly bullish now and will get some of my attention in the morning. IAG – good looking gold chart.  GBG – triangle gold setup that hasn’t moved yet.  Thanks, @BuyOnTheDip.

Others:

FMCN – Nice volume Friday. Approaching breakout resistance – target $9

VSTN – nice RSI14 bounce at 50, volume, DAX. Target .3

NVE – triangle setup. Indicators show a breakout down more likely, but I’ll go either way.

WIN – testing trendline resistance with narrowing bollinger bands.

WMA – testing horizontal resistance.

IM – testing MA200.

TK – testing trendline resistance. Looking to go long soon.

Gotta go. I’ll be back Monday for more fun.

Tags: AVII, DVAX, FMCN, GBG, GLD, GNBT, IAG, IM, NVE, TK, VSTN, WIN, WMA

What a Great Day!

Man, oh, man… the Watch List had a big day and continues to perform.  However, just because I post a list of stocks that I’m watching, doesn’t mean that I’ll take a position.  Instead, I like to watch the action of each and then try to pick a few that breakout.  For the stocks I do jump in, I immediately set a stop below the previous resistance/setup.  As it moves up, I raise my stop or set a trailing stop. I try to avoid as much risk as possible…

Watch List Thoughts:

ICO – good day, but not a breakout. I have a position  at $1.94 with a crazy tight stop. I’m hoping for a move on Monday to follow the great move in PCX (also on my watch list)

PLD – looks like MA20 might be the new support.  I might buy and hold for swing with eye on MA20 support.

AES - I’m really interested in a possible swing trade through trendline resistance.

PCX – nice move through horizontal resistance with volume. May have more upside.

FIG – removing FIG from Watch List after major breakout.  There may be more upside, but I’m not looking for entry right now.

GNCMA – still doing the rain dance for a $7.50 breakout.

GLD – yes, GLD moved up today as I hoped, but where is the volume.  CDE or HL was the way to go for a quick scalp.

DIG – watching at $25 horizontal resistance.

ALD – hitting against the top of an ascending triangle – might go long above.

BEE – I’m starting to really like BEE. Accumulation volume and seeing a lot of support on MA50.  Might see an MA20/50 crossover Monday.

LJPC - I’m giving up on this one, for now. I’ll watch from a distance.

NEXM – still strong

MPEL – great move today. Check out the volume accumulation.

BC – BBBBBBBBBBBBBBBBBBBBOOOOOOOOOOOOOOOOOOOMMMMMMMMM.  My play of the day.  Moved well through horizontal support and never looked back.

ALTU - KAAAAAAAAABOOOOOOOM.

Tags: AES, ALD, ALTU, BC, BEE, DIG, FIG, GLD, GNCMA, ICO, LJPC, MPEL, NEXM, PCX, PLD

Thursday Night Update

Hello, all.  How was your trading day?  Did you enjoy the choppiness of the markets or is it driving you crazy?  It’s a tough world.

Watch List Thoughts:

PMI – COME ON!!! When are you going to break through MA50?  I’m still hopeful?

CT – removing from Watch List, for now.  It is sitting on MA20 support and there has been some accumulation.  OK, I’ll watch it from a distance.

ICO – my coal play. Coal moves, I’ll likely pay ICO.

AES - watching to see what happens at MA20/MA50 crossover.  Heavy resistance at $7

PCX – top of channel. Watching at $5

FIG – KKKKAAAAAAAAAAAABBOOOOOOOOMMMMMMMMMM . I’ve have been sitting around waiting for the trendline resistance breakout. Finally got it.

GLD – My thoughts are on the chart.

ALD really tightening up on MA20

CIM – had a good day. I like the volume and trendline resistance test.

CTRP – nice accumalation today and sitting on MA200. I might find an interest as close to MA200 as possible

NEXM – nice MA20 bounce today. I would like to have jumped in lower, but what a great move.  May have more.

ACAS – Needs volume, but it still has my interest.  Watching above $3.

NOVL – It just feels like a move soon. consolidating down near MA50. Definitely worth a watch.

MPEL – starting to form a symmetrical triangle with great accumulation.

SPF - watching $1.8 resistance line in hopes for a breakout.

BC – looking for $4.5 breakout.

New Watch List stocks this weekend.

Tags: ACAS, AES, ALD, BC, CIM, CT, CTRP, FIG, GLD, ICO, MPEL, NEXM, NOVL, PCX, PMI, SPF

A Few New Additions to Watch List

After a few bullish weeks, it really feels like next week will be a big test for the overall market.  My gut tells me we’ll see a lot of profit taking and  traders will move back into cash while we wait for the next leg up.  I may be totally wrong, but I have a hard time believing that the financial stocks, in particular, will be able to push through resistance levels seen in many big movers lately. So, where does the money shift?  There are always individual plays, but will an industry take the lead?  Will we finally see a recovery in gold.. maybe basic materials? The earnings reports will likely shape the direction.

I am entering the week 95% in cash with a long position in EVC.. On Friday, I booked great gains in CHTRQ (maybe should have held this one), FCEL, and, OCNF.  I took small profits in CENX and ARIA.  BTW – CENX and ARIA are still breakout candidates and I’ll re-enter if we finally get a move.

(more…)

Tags: ALD, ARM, ARNA, BEE, DIG, GLD

Golden Week?

On my last post concerning GLD, I suggested that the chart looked bearish and a fall could happen if trend line support was broken (see March 24th chart). At that time, GLD was at 90.95 and sitting just above trend line.

Today, GLDis priced at 86.31 and seems to be struggling (congestion) around horizontal support at 86.  I haven’t had much interest in GLD since its fall below trendline support, but it’s catching my eye again – at least enough to see how it handles 86.

If gold and silver move up, I might take a long position in GLD or look at related stocks/ETFs.  UXG is consolidating nicely around MA50 and MA20. Others include ANV (approaching 52 week high), CDE,  and  HL.

Tags: ANV, CDE, GLD, HL, UXG