Dear Fellow Trader,
Thursday was good for the market as it shaped up nicely and it’s now looking more bullish as the indexes could move out of their respective channel. GGWPQ gave us a 50% return already with the move yesterday and that kind of compensated a bit for the VSTN surprise of yesterday (more on that below). Also many leaders acted very well, showing they want to continue higher, which is always a good sign.
The SPX is pushing back close to the resistance, but it has not yet been able to break over tuesday’s and Wednesday’s highs.
The Nasdaq need to get out of this channel, hopefully to the upside.
GGWPQ
As discussed yesterday this stock accelerated very nicely from our 1.21 entry, this chart looked like it was ready to soar. I received a few emails asking me what i saw in this chart to time it like that and the only thing i can answer is that it’s a few patterns that you need to recognise and i think this is the type of things we will cover in the course that will be launched in about 2 weeks. There is about 12-15 patterns i always look for.
Now VSTN was unpredictable and there really was no way to predict they would file for Chapter 11 protection thursday…It got me mad a bit at first, i did not have a full position on it but nevertheless it was a frustrating loss. (my full position would have been complete on the next strong day..) It will probably bounce back from where it is now, but one of the most important thing for a trader is to keep it’s attitude so i take my loss and focus on other things/stocks. (it helped that GGWPQ was rallying hard also).It’s like when you get a speeding ticket, do you keep moaning and groaning all day or do you put it in the glove compartment and go about your day as if nothing happened ? Happened to me often and believe me i forgot a few speeding tickets in there…The attitude is the most important thing and obviously it goes without saying that money management is also key…
SSLR will have to go back up, and if it break yesterday’s low, we are out…if not we will see if it continue up, which is still possible. We are up nicely on this one as well, we have some room but don’t want to give it all back.
UOMO is showing some green for the first time in days…not much but at least some, so i would expect a move and definitely have shares by now. It’s a great point to buy some, maybe not your full position yet. I started to average my way in.
UNCO was added to the watchlist on the 26th
http://www.hypergrowthstock.com/archives/may26.html
and made it’s move yesterday, had to be quick to get in, the entry was over 0,018.
It’s again a typical pattern of a follow-through on a first big impulse..
SNSR we need to keep watching it as it almost came back to the breakout line and could go if everything line up.
GNBT also could be a buy with this volume, but for the volume it had i didn’t see a large move up and for this stock it’s not a good sign. But it could still happen to be ok.
FIG could be ready soon. It has been consolidating in that tight range for many days, it will have to move out one way or the other soon. But the upside is where i it look the most likely to go.
AET moved as plan yesterday.
Now this one could be another mover, it’s very volatile, had a very very big impulse in April when it gapped up and i would not be surprised to see it go to much higher……
DRYS is looking also ready to go.
This next idea, require some different skills as a trader, you cannot get in this if you do not have experience, because it could still accelerate to the downside as there is obvious selling into CAL. But a turning point is imminent, a bigger selloff might be the catalyst or maybe another type of reversal, but i wanted to show it to you. And you can see the support we are approaching now…….
Have a Great Trading Day !
Dear Fellow Trader,Wednesday was expected to be less powerful than tuesday, as after a big day like tuesday it’s normal to see the market absorb the sudden increase, on the Nasdaq that absorption was not too bad. On the SP500 it was also reasonable, but on the DOW it was almost a 90% retracement of tuesday’s move, which is not a major cause for concern yet….but again let’s see how it does today. |
Dear Fellow Trader,
Tuesday was that big move we needed to resume the uptrend. The real ignition this move has provided will be known only in the next few days, but normally a push like this in the face of some of the bad news (North Korea’s missiles, spending exploding from the governement) starts a move of many days…..
We will see if histroy will repeat itself.. ANd not to brag too much but TTNP is now almost 100% Up, and GRO did also very well yesterday
The 875 support level did resist very well. And yesterday’s move now has shown where we should go, but we also need to break this down trendline in blue on the chart, it will be around 922.
The Nasdaq also had a powerful day, in one day it erased about 3 days of down move, which is very, very good. And it shows that there is still some bullets left for the buyers…
And we do not see it on this chart, but that big day was done on an increase of volume over the last few days. (you can look at QQQQ chart to see the volume)
TTNP
Nothing else to say than WOW…Another 100% pick in 6 trading days. Congrats to those who joined on this one…
MDOR was still on our watchlist even if not mentioned here yesterday and got back in . And for those of you who watch the newsletter carefully, you wil remember that it came right into the buying zone i was talking about over 2 weeks ago….close to $0,75
SSLR is the same thing, on our watchlist and triggered yesterday. I hope that you all have a watch list with alarms to see them pop in real time.
VSTN too triggered yesterday, but you could still buy here or on weakness by averaging down…
UOMO first sign of reversal happened yesterday with this bottoming tail, around 0,25-0,27 area. So i started to buy some slowly and we will see if the short term downtrend is effectively turning.
GGWPQ is under chapter11 protection i think, but the trading looks good and by the chart’s look it could be ready for something so watch it.
HOT had a very good move yesterday and obviously with a good market like yesterday and it was one to move…Just remember there could be some resistance around 24 from that last peak in december, but i think most of the selling has been absorbed…
GRO kept going strong yesterday, we are up almost 55% on this one.
ITRI is a typical bullish flag, i wanted you to see it and i think it could move strong soon…
Finally keep an eye on FIG..
It never broke under this support line around $3,70 and it could be ready to go now..or soon.
Have a Great Trading Day !
Dear Fellow Trader,
Welcome back after this long week-end. Friday, our last trading day, was full of Gaps. While some of the Ag’s tried to come back most oil and coal stocks didn’t do much and that tell you the market was out of sync. TTNP continued it’s move, we are now up 56% in a few trading days.
The 2 small tops similar to February are not usually good to see and i mentioned them last week. The SPX needs to hold 875 or we could see lower prices near term…
TTNP Did well friday, this stock we entered at $0.83 could have been also bought the next day in the $0.95 area for now a move of over 30% to 50%.
SPNG is consolidating in the high of it’s move which is positive. We need to get ready with this one, it could move any day if it will not pullback lower…
LVLV had a little shakeout friday and i like to see the fact that it was bout back and that this tail proves there are buyers even when some sellers force it. This sometime happen just before a strong move, as if some traders/buyers want to force out the weak hands…
CTIC might be ready to resume it’s uptrend has it did not breakdown or pullback much and the fact it stayed there for many days is indicative of strong hands…A possible Bull Flag in formation, but do not jump in before you see strong volume to the upside, as it could breakdown as well…
UOMO, here is my post of last friday and i wish i could call all the stocks like this all the time, i still do a good job but this was a clear and obvious pattern for me…
Friday:Someone sent me an email thanking me for my comment on UOMO where i advised to hold on before buying it, because it looked way extended for me. This stock could go back as low as 0,35 (lowest blue line)on this pullback, so i am in no rush to buy it now….need to see some reversal action.
By the way i will need some type of reversal pattern here to get in UOMO, as it came down very quickly…
Below are a few nice looking charts to add to your watch lists.
STZU had very strong volume out of nowhere on friday so we need to watch it more before doing anything…
VTSS is a stock i remember trading in the 30’s, 40’s , 50’s and more at the turn of 2000 and i picked it up while screening for stocks….
You can see some clear accumulation with a nice volume surge…so we need to watch this for sure…
UNCO had a very large buying impulse on friday, if this is to continue, i still want to see it come back to level where we can buy it safely.But it goes to the watchlist for now…
Finally PAYD is a stock i missed on friday but with this type of pattern we should see it higher soon. The best entry was friday but we could venture in now but need to be ready to average it down on the pullback and this is a strategy for the people who understands it.
Here is one of the rare large cap stock that still has a positive pattern holding the top of it’s recent move.
HOT
GRO had a very good move friday with all the AG, i did not post it friday morning but was a buy on pullback since last week. The only problem was that i had not yet accumulated my full position on the pullback…but still this stock exploded friday.
Have a Great Trading Day !
Dear Fellow Trader,Please note that due to the Memorial Day long week-end, the report of today will be shorter and i will comment only a few of the stocks we have been active in recently. And i take the opportunity to wish you a great Memorial Day week-end and do not forget that volume might be lower than usual due to this long week-end….therefore it makes it tougher to trade…also we will be back here for tuesday morning. |
Dear Fellow Trader,
Another good start for stocks today with numerous stocks up big until the Fed’s Beige book came out and that’s when the selling started. Once again stocks gave back most of their early gains in the day which we have seen more than once recently. Constant selling into strength at some point is going to lead to a much lower market. |
