In today's video webcast, I analyze the following stocks from my focus list: FSLR, SLT, FCX, DE, RIO, MOS, RIG and TOL. http://flash.revver.com/player/1.0/player.swf?mediaId=504703&affiliateId=93676
My shorts list outnumbers my long list 3:1 right now. I am only considering longs that recently broke out on high volume (usually due to earnings), and have held the breakout point. WFR is a good example:
My last post laid out a game plan for trading in queezy markets, not unlike the one we are currently facing. Here are six stocks from my focus list that satisfy the third point, which tells us to monitor stocks that are doing well in the face of a strong market sell off.
The market is now in extremely overbought territory, which is why I actually deployed a short today (DHI- a housing stock at the top of it's downward trend channel). It's seems like ages since I've shorted a stock, and believe it or not, I love shorting!Along with my primary long watchlist, which consists of weaker... Continue Reading →
I will be watching the following sectors closely this week:Industrial Metals recently broke out to new highs and is now consolidating gains. I am looking for low volume weakness in the sector's strongest stocks, which include FDG, BOOM and BBL.
I took a small position in BIDU on weakness this morning, buying 70 shares at an average price of $284.26. My initial target is the recent high at $300. Stocks I'm monitoring closely include: FCX, SLB, NOV, BHP, AEM, EWZ, DGIT, DWSN, NILE and TBSI.
Stocks with a low float (number of shares outstanding) have propensity to make explosive post breakout gains. For this reason, I like to sort my focus list by float and study these stocks very closely. Here are the stocks from my focus list with the lowest float:
NOV is one of my favorite energy sector plays. If the first, weaker support line breaks down in the upper $130's, the next buy point is at $125. I'd like to see the stock work off the overbought readings a bit.CROX looked like it might be ready to end it's amazing run, but has persevered.... Continue Reading →