Forgot to post this chart in the previous post. DLB had a breakout move and has been consolidating. Formed a doji at previous resistance (which shoud serve as minor support). Keep an eye on it as the breakout move was strong.

Happy Thanksgiving to everyone. Haven't been able to post much lately, as I've been pretty busy outside of trading. I will probably not trade much tomorrow, if at all, but I have a few interesting setups for swing trades.

First, though, I would like to comment on the overall market. Wednesday, there was a late day reversal although it was on low volume. This was dismissed as people closing out trades before the holiday weekend, but as short term traders we need to keep in mind that the markets have been overbought for a while now, and there should be another reversal coming soon. Bull markets close strong, not weak, and when there is weakness at the close, it could be a hint of anxious holders wanting to start locking in profits. We are still in a rally, but I say start protecting some profits.

I've read in a few places about oil and energy stocks looking to find support soon, and a possible rebound in oil prices with colder weather starting to set in. The oih etf has been rebounding and it seems like money is flowing back into the big cap energy stocks. I will play this a little differently though. When oil was running recently, alternative energy stocks had some pretty good runs. With that in mind, I think it's time to start nibbling at some of the alternative energy plays out there. Keep an eye on BCON, CPST, BLDP, DSTI, etc. If anyone has other idea's on these plays, please leave me a comment and I will try to chart it.

With that in mind, here are a few charts that look promising including BCON and BLDP.

ANTP: First today is ANTP. I though this had failed a few days ago, but the action after the failure to break out was promising, so here we are again trying to break resistance. This could be a nice move if it breaks out, so keep it on your watch list.



BLDP:Still under resistance but indicators are trending up. MACD divergence on the recent low.


BCON: Possible triple bottom here. I think this is a retest of support and it should rebound here. Next higher high without faliure of trendline would be confirmation IMO.

RNWK: Broke out of pennant formation and is consolidating. Looks positive.

DLB chart looks very intriguing. Doji at support may give us an early signal here.

I noted a few days ago that IPII was on support. Support was confirmed and now the trendline is what remains to be broken.

I'm having blog issues tonight so I will try to post the following charts tomorrow morning.
CHK: possible swing setup
NGPS: broke resistance, may follow through tomorrow
SLB: may push to 100
RNWK: possible swing setup
IPII: testing previous support and 200 sma

These are some of the stocks on my watch list for this week.

REDF: I am long this already, but I think it can still be entered with a reasonable stop. This has a chance to just close gap, or really explode through upper resistance.
KOMG: This stock is already overbought and may end up pulling back, however, after the bullish candle, the second day barely penetrated into the body of the prior day. Bulls are strong here and this could take out resistance band in one move.


CPST: We are now in day 4 post Cramer hype and CPST has yet to fill the gap. This is showing me that a lot of people are willing to hold this. I think that if it holds up above the gap, the next leg up will eclipse 5 easily.

QDEL: Very steady uptrend which keeps breaking into new rectangle bases. A higher high here and we may break into a new range.

Biotechs are flying lately and I've made some pretty good gains on SVA,NBIX,an DNA. Here are few others on my watchlist.


BCRX has had a pretty deep pullback, and violated the previous trendline. It reclaimed the 50 days sma and held. With Bird flu hype once again perking up, I would keep an eye on them. Could retrace as per chart.
GILD has had a rocky few days, but has managed to hold the upper channel it just recently broke in to. This show me there are a lot of buyers waiting. This can be a very risky play with the controversy surrounding tamiflu, so I would not jump in head first. I am debating the entry on this, but a clear stop is the trendline.

This was a hot IPO earlier this year. People were happy with earnings here, and this could very well follow through. I will keep an eye on this, but it is a little overextended. I'm thinking this will resolve itself into a bull penant.