The Ambitious Trader: Stocks, Trading, Investing..My Ambitions as a Trader and Investor

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Monday, October 05, 2009

Stock Picks and Trade Ideas for Monday

New Buy Candidates:




New Buys:


Stocks acting well: AM, AXL, CMLS, CPBY, IPXL, MPG, RGCI, ROIAK, SBSA, SCSS, SPRD, TA, UCTT, VG, WWWW, XJT, ZHNE

posted by Nick M. @ 1:54 PM

8 Comments:

At 11:21 AM , Blogger Nick M. said...

ACLS (in at average of 1.27)

 
At 11:47 AM , Blogger Chad said...

Definitely was a good time to pick up more of it. Had a really strong bounce off of its low today. I'll probably be sitting on ACLS for a few weeks, as long as the trend keeps up.

-Chad.

 
At 12:19 PM , Blogger Nick M. said...

Definitely, hope it goes higher. Wondering what is wrong with HPJ. Either someone is in the know or their lowering the price for institutions to jump in. We'll know by how it closes at the EOD.

 
At 2:32 PM , Blogger Nick M. said...

I guess I jinxed ACLS! Looks like it may trade sideways for a few sessions before attempting to make a new high.

 
At 2:44 PM , Blogger Chad said...

LOL! I thought the same damn thing, Nick! The moment you announce to took the position, it turned on me. HPJ did throw me for a loop today but it still looks like it's setting up. The price action didn't knock me out yet. ACLS is trading down on lower volume, so I'm not really scared of it yet, either. Both are not acting like I'd like today though ;)

 
At 2:58 PM , Blogger Nick M. said...

lol, I should have given you a warning so that you could have cashed out!
Seriously though, it's become very tough trading this market. The indexes are up quite nicely, but even so, most of my position are lagging behind. This is why I am not crazy about the current market environment. HPJ may have support at its 10 day, so should be fine. HPJ has the potential for a big move but it may take a little longer to set up the chart than I previously anticipated...

 
At 3:42 PM , Blogger Chad said...

I'm glad you pointed that out too, about the indexes. Same with yesterday and it baffled me. Normally, the indexes flying high is a great indicator and I enjoy seeing it in the morning, but today and yesterday they were enjoying great gains and my positions were treading water.

I agree that HPJ is setting up and will take a little time. HPJ is at a big cash-in point since its last run started about 1.50, IMO that's why we're seeing so much selling up in the 3.60s, 3.70s, traders are cashing in on that 100% gain! I would too! ...we'll see.

I'm ok with ACLS sideways for a few days. Seems normal enough from its previous movement.

Not as action packed as I would have wanted it (I can only be in limited positions right now), but it keeps me in the market :)

-Chad.

 
At 4:12 PM , Blogger Nick M. said...

A few good buys popped up during the last leg of today's session. Still, the majority of the move seemed lethargic. Despite this, volume was not on the low side. Maybe tomorrow will give us a better indication on whether this was just a reflex bounce or something more. In any case, I have found a few stocks that I feel comfortable with posting later on in the evening...

HPJ was a bit of a disappointment, but as you have mentioned, this is to be expected given its run from its recent bottom. What is impressive is that the stock is still showing more accumulation than distribution in its chart. If tomorrow goes well with the market, I can see it retesting its highs...

I am comfortable with ACLS as well. As long as it has support (and treads) above its 10 day, it should be fine.

 

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