In the Wrong Stocks??
I will need to take some time this weekend to reassess my portfolio and some trades that I put through. It seems that industry groups and stock favortism is changing with the recent jump in volatility. I do not want to be in the wrong stocks, so it is best that I fix this issue before it becomes a bigger problem.
Battery/Alt. Power Stocks:
Wrong Stock: HPJ (not down bottoming. Will take time to build a base. Rebuy on a breakout pivot once base forms)
Right Stocks: ACPW, POWR, PWER
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Construction/Mining Machinery:
Wrong Stock(s): CAT, JOYG, MTW, TEX
Right Stock: BUCY
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posted by Nick M. @ 4:20 PM
35 Comments:
Stocks to Keep an Eye on Next Week:
BIDU, V
Large Cap stocks, can make big moves and you can build a large position with them.
Happy Monday, Nick.
Anything on your radar. Things are not working for me today. MTW and BUCY are the only things I see moving well. ACLS was a poor trade; HPJ is freaking drowning the longs!
I bet you're happy with AMZN! Looks like large caps are behaving better...
Hey Chad,
There definitely seems to be a shift from spec to growth stock favoritism.
BUCY and the construction stocks are good, as are all retail/clothing stocks.
Also watch BIDU and V for earnings
I also like DDRX, GMCR, KPPC, PWER, POWR
AMZN, DDRX and NFLX, so far so good. HPJ may bounce and begin building its base. Look for high volume pivot upwards.
Yeah, PWER looks nice.
One day, (if the markets hold up), HPJ will finish basing and create strong breakouts like POWR and PWER. They all started like HPJ, initially bottoming, creating a lateral move and then beginning to form a base...
HPJ is good to go again on the long side. Good for an add on or new position.
SNDK looking like a strong big cap. Probably wont double, but a good low risk stock to park your money in...
Good call on HPJ, thanks! The volume really picked up on this pivot attempt. I'm back in a position with them.
XRTX also showing strength, finally
Overall, I feel as though the market is attempting one last shakeout or an attempt for institutions to load up. I mean, look at AMZN, NFLX, MSFT, etc. All these companies are reporting better than expected earnings. It doesn't make sense. Also, VIX hit near my target resistance of 25 and the DJIA closed right above support. Tomorrow, we may have another dip, bringing the VIX into 25 territory, and lowering the indexes, followed by a mid day to late day bounce to the HOD. Don't ask me if I know or how I know, I just have a funny feeling. Of course, I could be wrong. Lets see how the next batch of earnings come out....
Yeah. I'm reading that one weird though. There's less volume today on the attempted rally than the last two days of selling. What do you see?
Sorry; the comment above was about XRTX, not the market in general.
That may be true about XRTX's volume. I attribute it to the overall market in general. I didn't expect it to be super high. The important thing is that it is still above average on a crappy day and the fact that the hedge fund selling has subsided. BTW, I am amazed at how well AMZN and MSFT closed. All near the top of their range. Keep BIDU and V on your radar...
HPJ up to 4.08 AH...
That's a great point about XTXR; I wasn't thinking of that for some reason. Trading from the iPhone, I don't get to see all of my other quotes. A stock making the gain that XRTX did on a crap day is a great sign.
Interesting about HPJ. I may start to like this position ;) I didn't see any news just now.
I've got BIDU and V saved on my watch list. Since I started trading heavily again, I've really fallen in love with StockCharts' service! You can throw up 10 charts per page, with realtime data and full quotes. It's like reading the paper in the morning ;) you just scroll down and absorb all the info... BIDU looked really good today.
BTW, when you start charging for *your* service, you should call it Nick's Pix and give me a discount for recomending the name ;)
Good night,
Chad.
Here's some news:
http://finance.yahoo.com/news/USChina-TagTeam-Could-indie-148102894.html?x=0&.v=1
Small stocks getting popular with the masses is a crowd psychology gold mine!
Thanks for the link.
We'll see how XRTX performs tomorrow. It needs some more buying pressure in order to further stabalize itself above the 20 day Ma. And as you mentioned the volume situation, I would also like to see even higher vol, like 500k or higher.
HPJ should do fine in the next couple of days. The stock has become very over extended and was due for a bounce. I am just not sure if will be enough for a longer term move. But it may have enough strength for a move to 4.70.
Looks like BIDU reported poor outlook for the upcoming quarters. Stock may take a hit tomorrow. V is reporting as well.
I am not planning on having a paid service in the forseeable future, but if I do, I'll make sure I give you a discount! I've had this blog as a free service from day one and I do not have the time to add consistent premium content to warrant a paid service. I simply enjoy what I do and like to share stock picks, trade ideas and market commentary and insight.
Check out LULU. I've been talking up retail stocks for weeks now. They are one of the strongest movers in the market (at the moment).
Also: CR, CTDC, KOG, PODD, PURE, UCTT
Very freaky market move today, but if you have been reading, I had a feeling this would happen. I would like to see more strength on the NASDAQ though. BIDU earnings are not helping with the situation....
market gauge: Bulls feel like throwing in the towel. Bears/shorts feel like it is the perfect time to short = a positive reversal?
Everyone that I spoke to feels as if the market is going to crash and burn. When does the market ever go the way everyone expects it?
Haha... I'm looking at it this morning and feeling the same way. I just keep hitting stops!
Did you see QTM's gap up?
Market has fallen more than I had expected and the NASDAQ is really pushing it to the limit. We will be in a real down trend if the markets do not bounce from current levels, so keep a close eye on everything.
I saw QTM. Unfortunately, although I mentioned it, I never had a chance to buy it. I would wait for a pullback before jumping in..
It looks very bleak. Now I'm starting to get very bearish!
Since I'm starting to get bearish, maybe we are getting closer to that reversal point that I was talking about...
It does look bleak...only a couple of stocks look worth entering, and even those, I want confirmation tomorrow before I jump in.
What are you thinking? Turn for bearish, or things look so bearish that we turn for bullish?
It is starting to look bleak. I am usually super bullish until the end and I am starting to get very bearish..what does that tell you? So, I think we are do for a bounce. But...I would be very worried if the NASDAQ and Russell finish at their lows, as that would signify more pain to follow. So far the VIX has spiked up as I thought it would, but I am not sure if it has truly bottomed. Anyhow, I would still sell and pick off individual stocks bases on their weakness instead of just liquidating everything in a rush. For instance, even though the market is tanking, certain stocks are holding up (such as AMZN, NFLX, etc), while others are taking a hit. I've noticed that the "old" winners (such as DTG), are taking a hit and selling off. This happens when the tide changes. I expect new hyper-momentum stocks to emerge after this correction. The deeper the correction, the larger the move that these "new" winners will make.
Don't like how the market looks nearing the close...
I didn't either. I pulled out of HPJ yet again, and am all in cash right now waiting for tomorrow.
As crazy as it may sound, don't be surprised if we have a bounce or positive reversal by EOD, tomorrow. The market is hinting that it is in oversold levels and everyone is 100% sure that shorting is the right way to go. Things are never so obvious or easy. Still, even if the market bounces upwards for a few days, most likely, we will hit resistance again. The only way this bull market can continue is if all the indexes bounce back to the highs and create a new high (which they should then be able to hold).
I may start shorting a bit once we reach overbought levels again....
I'd like to see a short rebound, short as it might be. I didn't intentionally go to cash; I just got stopped out of all my attempts and wasn't in a big rush to throw out more capital. Stops are like punches to the shoulder; after a while they really start to hurt and/or piss you off ;) ...but I guess it's better than getting hit by a bus.
Definitely better than getting hit with a bus!
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