Monday Sept 22, 2014 HERE AGAIN…once we look at a few possible “Set ups” lining up as possible buy opportunities or we actually take a position, we always have to re-examine our positions. Why? The Markets change daily and we just want to make sure that we are still in a good place. Did I get stopped out? If so, I like to see if the set up is broken entirely or is it possibly still setting up, maybe I was a tad early? At this point I re-read my last report (s)…yes, some things have changed , some became STRONGER, some looking WEAKER. Overall, however, I still get excited looking at the break outs on these LONG BASES! For the sake of time and sanity – I am just going to mention a few from the past, and try to point out a few more I like. To The Charts!
VIMC – Oh how I loved this base! In at $3+ and again at $5 … Posted this weekly a while back
VIMC just kept improving and I sold some near $6.40, but as it exploded higher with Strong volume , I re-bought as it was rising above $7.00 near $7.10 (the amount that I re-bought was only 1/2 than what I had sold near $6.40) above $7 . Now what has it done?
VIMC has still been on a tear! Its moving almost straight up , Bulls make money, Bears make money, PIGS get slaughtered. I sold 1/2 again —
I LOVE that weekly chart, but $3 to $10 and not taking some profit is just greedy. THIS WILL BE A GREAT BUY IN THE FUTURE after a sideways move/ bull flag or pullback. Here it is as of Friday.
Which leads me to OTIV, since the base looks the same as VIMCs base and Prospects seem to be good too. I had posted this MONTHLY of OTIV , but it did the opposite of VIMC so far. It has Popped and Pulled back. Above $4 close on a weekly and I have high hopes for a nice run.
I Tweeted a low risk BUY might be here at $3.60 area (Because it hugged this M.A. so far & you can stop out just below if it breaks down). It did break down the next day.
So I still love the Story, I love the long term charts, but what am I looking at now ? I realized on Thursday Morning that OTIV can drop to $2.75 and drew this weekly close up then
Look on a longer term wkly as of Fridays close…looks fine and could land on the $2.75 area and be sitting on the 10 WMA as it rises
HOWEVER, it dip drop to the 20sma on a daily Friday and stopped…so I am watching how it acts there too.
Notice that the 200SMA is….at $2.75 also, as the 50sma is rising there. These are things that I am watching.
Weeks ago I pointed out this LONG BASE & POP to $12 in JRJC –
As extended as it was, I needed to wait for a pullback . This weekly shows a couple of interesting points. The first break out from that ROUND BOTTOM in 2013 was “TESTED” with a reversal candle. The recent break out was “Tested” with a reversal candle last week. Hmmm?
So JRJC on a daily shows that MAYBE, POSSIBLY, it MIGHT BE…close to reversing here? It also could go lower (50 & 200sma below, but rising)
I have been posting about MOBI and HPJ too…they both broke upward and are pulling back. Very healthy if you ask me.
Since I last posted, this past Wednesday MOBI went from $8.50 to $10.50 in a single pop. Very Nice.
And ALNY was recommended Sept 11 in this bullhorn, target $85 area
Now almost there
I just want to throw up a couple of new trade ideas ( I haven’t studied the financials on these like some of the past ones, so your due diligence is important. When do their earnings come out or have they?).
These are good looking set ups, and I will post weekly and a Daily chart to highlight that.
GLOG – WKLY NICE RUN UP / large consolidation ( A little wide and sloppy) , but regained the 10WMA & is VERY oversold
GLOG DAILY pulled back tho the 200sma, signs of life here
FEYE – I like this wkly chart – Great volume
FEYE Daily – I’ve been watching this for weeks. recently it had a Break out / Test
EPAM daily – after the above weekly consolidation and going no where…
Close up daily we see a break out after price re-gained the 200sma and 50sma. Nice volume surge.
Again, if you formed a watch-list from previous posts, this kind of shows you that most of the weekly charts still look good on many , and the daily charts are either breaking out or still setting up, possibly even finding support after a monster pop & run (for ex: JRJC, DGLY, HGSH, and so on) .
The ones that failed the most out of the previous posts were my thoughts on WEAT and CORN. Solars keep looking very interesting, heating up & then weakening again, then they heat up, then weak. I think this may be constructive longer term, so I remain patient on those. Shippers have also remained dry docked, tho I mentioned some that looked intersting…I am not interested here & now. URANIUMS are also gaining my interest, but they have also popped and pulled back repeatedly (Constructive for future moves possibly)
GOLD & SILVER – Be glad we weren’t trading them. They were not looking right, so I left them alone (unless, as I mentioned in a prior report, you just bought GLL, ZSL, DUST and JDST) . I will be examining them in the future and will write if I see anything interesting. I would expect a bounce, but it may give it up again and $GOLD may need to test those June 2013 lows (Silver has broken its’ lows).
A 2 Charts of interest to me now – This needs to improve soon or we may have a strong correction I.M.O. THIS is getting weak & ugly looking to me .
Yet this crazy Nasdaq (QQQ) is strong & almost parabolic
The above 2 charts (And others) keep me cautious in the back of my mind. As a trader, I take the set ups offered until they stop acting correctly.
Have a great trading week ahead and I will be posting more trade ideas in the coming days if things remain bullish. Best to all!