We are in a state of indecision right now. It seems like big players want it to go up, as they try and lock in profits at the same time. How else can you explain target increases all over the place and then the stocks start spinning their wheels (ie, aapl and goog)? Last two days have had attempted rallies at the end of the day, so we may not be in for a correction just yet. If you are shorting these markets lock in at least partial profits sooner then normal, as bulls haven't thrown in the towel just yet, and that leads to a choppy environment.
Here is a quick chart on PWR. With the markets pulling back the past few days, I am looking for stocks that are close to support and where sellers may be done. PWR has a few support areas here, so I will keep an eye on it.
Others that turned up on my list:
mrvl: keep an eye on semi's tomorrow afternoon. They will open weak on intc guidance, but may turn around later.
osur
hal: see previous post.
int: see previous post
rbak
mnst
smtc
vclk
intu
rmbs
sbac
Good Luck,
DT
Sorry for the lack of updates. Blogspot was down a couple nights ago and I was out last night. I'm working through a new system for my nightly scans so the updates will be a little lean until I work out the kinks in my new system.
We will start off with a chart of boom that most probably don't look at. The daily looks pretty messy, specially with the last two volatile days, but take a look at the weekly on boom. It sure is a pretty chart. Notice that boom has held above the triangle breakout.
Next up is BCON. If you're a regular reader, then you know I've been looking for BCON to bottom out around here. Volume is ticking up again and it just needs a little kick in the pants to get over the 50sma. Formed a doji today which could be a warning, but keep in mind that we are bottom fishing here, and patience is required. It won't run to 5 in one day.
I happened to pull up the SIRI chart last night, and noticed an almost perfect inverse head and shoulders. Check it out in light blue. I want to buy near the lower trendline, but may not get the chance. With XMAS around the corner and Stern right after, there may enough catalyst to kick start SIRI soon.
How long can the bull rally keep it up... a little longer I suspect. I re-established myself to 100% long Thursday and Friday. The market will stop me out when it's ready to correct, so I feel comfortable right now.
On my watchlist for tomorrow
PWAV, NTAP, QDEL, WM, WB, BBY, MLNM, AMTD, CFC, AGN
I entered the following Friday, but they may still be playable
NDAQ-I'm pretty excited about this one. If it makes a new 52 week high, watch out. It could be forming a double top though, So I will prob. take half off the table soon and just add it back if it breaks out.
NBIX-This has been a good performer recently and after selling out over 62, I just re-entered after the pullback.
NITE-Looks like it may want to test 52 week high.
FDRY-Hit a new 52 week high and cleared the recent consolidation.
RHAT-See Chart for comments.
Here is the NDAQ Chart:
RHAT:
Here is a chart for PWAV:
and NTAP:
Here is a chart for NBIX.
Looking to close
KOMG-It's had a good run from 30, so I want to lock in what I have left in them.
Good Luck,
DT
