This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.
New Buy Candidates: EPCT, LPHI (rebuy)
New Short Sale Candidates:
Add To: ANCI (formerly known as XSI), QCOR, REV
Note: There are a few good longs that are starting to appear on my stock radar. Check back tomorrow morning for updates and a list of new potential longs.
posted by Nick M. @ 1:46 AM
Hello and welcome to my blog. My name is Nick and I am a recent graduate of a top research university. I currently hold a BA degree in Psychology. My main interests are industrial/organizational psychology, HR management and of course, securities and the financial markets. I became interested in trading and investing in stocks a few years ago by pure chance and curiosity. After learning some of the basics in 2003, I began to trade in full force in 2004. Although I've been trading for only a few years, I have learned much about stocks, and analyzing charts in this relatively short time span. My experience and chart reading skills are my edge in successfully navigating the stock market. My strategy and discipline is a blend of trader and stock picker. My style of trading has helped me find some of the current markets top winners in their infancy. In addition to my own personal trading and investing, I also manage assets and portfolios for close friends and family. My goals are to continue to improve and refine my trading/investing strategies in order to further enhance my performance in the market. Eventually, I would like to establish my own investment/asset management firm.
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6 Comments:
Even in some of the roughest trading days seen in ten years, I was holding a positive assumption that this would be a great chance to grab some longs. Are you seeing more opportunity?
Chad,
You are on the right track. Oversold, high volatility market environments are ideal breeding grounds for stocks to go long. I am starting to see a few good ones appear, but it will take some time before they throw out a 100% buy signal. It is also important to note that there are always a (small) handful of stocks that one could go long even in a bear market and still make a killer return. It all boils down to patience. If you aren't patient and try to buy any long that moves, it will be easy for you to get wiped out before the market truly bottoms.
So yes, I am seeing some very small opportunities here and there, but nothing 100% solid as of yet.
I like the chart of EZPW, do not like the insiders unloading. EZPW is in the pawn business and during recession these shops do get busy! Just wanted to get your thoughts Nick... thanks.
Andy,
EZPW's chart looks okay, but I would be hesitant in going long..for now. Keep an eye on it for now and just watch it as shapes up a bit. Wait for it to come down to the 50 day MA. If it is a good potential long it should bounce up from around the 16.50 area and show support at this area. That would be the ideal buy point on this one. As far as fundamentals are concerned, I agree that EZPW can thrive in the current market. These kinds of companies usually do. Also check out the food manufacturers such as THS, CPB, DMND, etc. Best of luck Andy! Let me know how the trade goes.
Thanks Nick. Yes, I agree 16.50 is a good level to pick if support remains. Although it seems we all will do well if we start scouting for potential shorts. Hey one more for you - DMND hitting 52 week highs. I tend to like it due to fundies - strong brand, just acquired Pop Secret, recession resistant (I'd be a couch potato and munch on pop corns and nuts ;))
tc,
andy
No problem, Andy...
Yes, DMND is looking good. Its chart is showing strength and it is a food related stock so it can thrive rather well in this market. Just wait for DMND to dip a bit before you jump in. I wouldn't be surprised if it dips below 28. When it does, it will be a buying opportunity. I would also like it if it shows strength above 28 and forms a pivot point before launching itself higher.
As far as being short this market, I have been short/bearish since August 2007. I jumped in early with some shorts and cashed out many months ago on some of the financials (like MS, BSC, GS, AIG, LM). Its crazy, but these stocks have been flashing warning signs for over a year! I actually recommended BSC, GS, MS and AIG as short positions back in July 2007!
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