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PEET and QTM
Bought a bit of both before the market closed as both stocks broke out on high volume and closed near the top of their range on an otherwise truly depressing market action kind of day. While they both may pullback from this point, odds are, they should head higher.
PEET (in at 32.05), QTM (in at 1.98)
Looking at: HPJ (rebuy on a bounce), CLFD (rebuy on a bounce)
posted by Nick M. @ 9:20 PM
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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19 Comments:
ACLS and HILL also showed signs today of a possible pivot, like HPJ.
Good entry in QTM! I was just looking through all of the day's charts and put an asterisk next to QTM for strength. I also noticed KOG and PWER, among a few others.
Take care,
Chad.
yeah, I couldn't help but notice QTM lingering near its high all day long while the rest of my positions were getting whacked left and right, so I figured, why not buy a little.
Yes, our old friend ACLS looks ready to finally bounce. My only concern is the magnitude of its correction. A drop from a high of 1.75 to 1.00 is quite steep. If it aims to start climbing again, ACLS has its work cut out for it. HILL may have a healthier bounce than ACLS. HPJ will work if it can pull off another upward pivot on high volume, with a close near the HOD.
In any case, good luck tomorrow. The recent action is making me a bit uneasy and uncomfortable...
That retail just keeps proving resilient! PSUN, DBRN, JOEZ...
I took a position in PSUN, and PWER looks really tempting today. It's definitely been outperforming POWR.
Yep, retail is chugging along. Has shown tremendous strength before the minor correction and still showing strength during the attempted bounce.
PSUN: I would keep for a few days if it closes near the HOD. Don't be shy about selling when you notice the momentum fading.
PWER is acting great. It is the last decent looking battery stock. HPJ is very close to the bottom of its range and presents a safe long term buy point. Looks like POWR is showing strength above its 20 day MA. If it can hold itself above it, it should do fine...
AKAM at good buy point
There were a lot to choose from! I grabbed KKD because it looked like the volume was picking up for a short term trade. Don't know about it now. I'll dump it if it's not near HOD later. ...seems to be the plan today. Grab a few and watch the close.
I don't trust HPJ as far as I can throw it, at this point! ;) I'm biased on it now, took it personal, and will wait for confirmation. The pivot on the 26th was a better signal than today's and that one turned.
Dow and S&P are really pumping out some volume today!
KKD seems good. Of course needs to stay above 3.50 and preferably close near the HOD. HPJ is certainly stinking. I may rebuy if it can make a pivot higher near the HOD.
Nothing crazy about the volume just yet. The nail in the coffin would a low volume bounce...I'd watch out if this becomes the case. In order for this bounce to follow through, we need above average vol.....
Keep CATM on the radar. Reported stellar earnings. A close near the HOD would seal the deal. I also like the volume. Yesterday's chaos muted the stocks move, but today's bounce is allowing it catch up.
Not very impressed with volume at all today! PSUN pulled it out for me though; it wasn't the strongest, but enough for me to see what happens tomorrow.
Take care,
Chad.
Today is nothing to brag about either. Yesterdays bounce was not strong enough to pull us out. We'll have to see if we'll have a follow through next week...
Kind of a hum-drum day today, you're right. A couple of stocks showing support that I took note of. And CATM holding up strong.
Take care,
Chad.
There goes yesterdays bounce. Keep AHC, CATM, MOT, and PODD on your radar as they are bucking the trend.
feels good to be in 97% cash!
Probably better to watch from the sidelines. I'm always on the look out for new setups and will most likely find some great ones after the dust settles. The longer the down trend, the greater the profit potential is later on. It is all about being patient and sitting on the sidelines and being a spectator when these trend train wrecks occur.
Agreed! It's a great feeling! My PSUN position is still riding, although it looks like a lot of distribution today so I might let it go to feel things out on Monday.
V is doing really well today.
yes it is. I'm waiting for a bit, but it is a decent buy point. I would say cut your losses if it reverses and closes near the LOD.
Look at this market. The market is not even able to post an oversold bounce. If we close near the LOD, expect another dip tomorrow am, followed by another bounce attempt.
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