…CONTINUED PART 2 – I just spent 3 hrs writing part 2 and lost it when my laptop shut down & auto installed updates! Deep inside I actually feel down-hearted & though I’m pretty mild tempered, I am feeling a little of this right now. ARGH!
I have to start over ( Thankfully all the charts are saved, just the Writing , explaining, & organizing of this report remains). Unfortunately I have less time, so Its likely going to be a little more hurried.
I simply started by mentioning that in Part 1 of this report and in my past 2 report, all of the strong action displayed by the stocks discussed (see the report GIANTS AMONG US) happened, not while the NASDAQ, QQQ, SPX, RUT, IWM , etc were rocketing higher, but while they were going sideways. Those stocks have been exploding on Good Earnings Reports. I also pointed out that SPX, DJIA , RUT, IWM are at all time highs, but the Nasdaq isnt…(YET). If it is trying to play catch up here…I have to wonder if it’ll just continue on this somewhat parabolic path?
Anyways , I wanted to review some more of those LONG BASE SET UPS that are breaking out and also a few other set ups.
RADA popped to $2+ Before earnings..I felt like someone knew something.
THEN EARNINGS came out for for RADA , I missed his one $1.50 to $6?? WOW
HPJ – Long base, exploded out and now in an uptrend type move roughly $1 to $8.
This WEEKLY CHART shows UP to new highs , SIDEWAYS, UP to new highs , SIDEWAYS, and now UP (to new highs?) – Could it run to $12, the top of the wedge?
DAILY CHART – SEPT 11 – I pointed out that it was at a good entry point at $6 reversing on the 20sma
SEPT 12 it has started moving up, Now $6.88, but will it RUN strongly? OR go sideways from here? Watch the volume, needs more buyers so far
PRAN Dropped on 2 drug trial fails (OUCH! $10 to $3 ) but is forming a tight base on a smaller time frame, but had a nice POP recently on a drug approval
Pran looks about ready Close up , PRAN Daily charts have 2 possible BUY TARGETS on the 2 charts below (Now on the 10sma or 20sma gap fill)
ALNY had a long base & now has been in an uptrend. Under $10 to $110! It pulled back 50% to near $50.00
ALNY has pulled back & I pointed out Thursday an entry and this ‘broadening wedge’, BUY the break out or a drop to the bottom of the wedge , target to “D”
ALNY Friday – broke out
Now let me show you a different type of set up, its more like the PRAN set up, that way you can see what I am looking at with PRAN.
Like PRAN, a stock gets slammed for whatever reason, investors are disappointed and move money elsewhere (SELL) , then sellers dry up & it forms a small Base. The next company news can flood in the buyers (POP & Run) , or disappoint & More Sellers dump it. With PRAN, their news on their new drug for Huntinton disease POPPED it, and sellers are drying up.
This is BLOX, another bad news / Good news story? It got slammed , and is basing out. It has actually gone from under $12 to almost $16. Recently when Earnings came out – it popped and is now Bull Flagging. Sellers seem to be gone, I like it here.
THIS IS FUEL from last Thursday – another similar example of a smack down & possible base then recovery. It stalled Friday, however, when it was revealed that it made fraudulent claims and may miss future earnings projected. Its worth watching, but So this needs time to prove itself, and caution.
On SEPT 8 a friend (G-Bones) mentioned the base & Pop in Sprint to me.
This is it a few days later (Sweet!)
THATS why I think its worth watching PRAN. Its similar in set up to Sprint.
Lets go back to LONG BASES that could grow into GIANTS. Last week when I wrote that report I expected more to pop up, and I was trying to show what to look for.
Did any more POP up last week? Yes, and we were able to catch a few. Lets look at a few here that popped after my report came out & then discuss a bit.
SCOK WKLY, mentioned in the report near $3. Popped big time- I missed it waiting for more pullback.
NETE – Popped Wednesday, pulled back Thursday, Popped again Friday
LUNA – actually could be a buy after that pullback ( do your own D.D. please)
OTIV – This was in my report, and I got a few emails that a couple of readers followed me in . Thats makes my day! They had good earnings and thats why it went up the first time & I got in on the pullback . THEN It popped on a news release ( I made a statement on Twitter about OTIV having great earnings & a deal with AAPL… it was pointed out to me that what I heard about “A deal with AAPL” wasnt entirely true. I said that I heard they had a deal with AAPL, but the report was from OTIV that AAPl can now use an approved service that they provide & that could really boost earnings even further. I apologize for misunderstanding, but the POP came on that news from OTIV anyways. Imagine the upside that could come if revenues are driven by the kind of increase that AAPL could bring?
Here was why I loved OTIV…
OTIV LONG BASE, DEC HUGE POP, HUGE VOL.- This has HUGE potential longer term. I.M.H.O.
SEPT 8, I loved this wkly chart and had entered already. 1 day volume was already showing up HUGE on a weekly chart ...someone knew something!
OTIV POPPED BIG… From $3 to $5. I did a follow up report & mentioned that I sold 1/2 & re-bought the Gap fill.
This looks good to me, with strong earnings and potential on that MONTHLY chart above .
I owned VIMC & discussed in my report too…Love That Base. Breaking above $5 is huge I.M.O.
Vimc – Buying the 10sma, add on light volume dips for now. (Eventually it will have a steeper drop, say to the 50sma)
VIMC Sept 10..pointed out a buy point coming up near $5.
2 days later it hit $6.50 . Yes, it could be a tad extended here, but sometimes they just keep running.
Maybe another buy opportunity on another pullback if it acts correctly on a pullback.
So thats REFLECTIONS PARTS 1&2 . I thought it would be a good review of various things I’ve been looking for in the charts when stocks are acting as they are now. It helps to look for different “Set ups” in different types of Markets. There may be what we’ve seen here, beaten down stocks, undervalued, and then when they pull an ‘earnings beat’…they fly. Sometimes you look at stocks in an uptrend, and I look for different ‘set ups’ in those stocks, buying pull backs at certain “Fib Levels” or moving averages and so on. Bull Markets and Bear Markets have varying opportunities.
I am going to try to do another report Monday, but it may be after the bell or end of the day.
I am going to just do a couple of “Set ups” on that one, that are currently on my watch list.
Also I was asked by RIC in the comments section of Part 1 to chart SILVER.
I expect a bounce, it looks overdue – but right now its a tough call from here. I need a little more time , a reversal, something to tell me what its going to do. Here are some charts-
Thanks for reading along! Fed week ahead, anything can happen, stay alert!! I know its a LOT to take in all at once, maybe come back later & read it twice to better absorb it? .
And if your following me on TWITTER and you re-tweet my report, I thank you! I do notice and I know several that have, and I appreciate it ( Thx to Frequent re-tweeters Edward Gofsky, whom I do not know & Bob Loukas – a friend )