New Buys
New Buys: AMD (in at 7.23), CGA (in at 14.14), CML (in at 21.00), GNV (in at 3.07), GRO (in at 3.02), KERX (in at 2.37), KOPN (rebuy, in at 4.72), RURL (in at 5.89), SCVL (16.49), TMI (12.98), TWLL (in at 11.59)
Check out micro/small cap miners/precious metal stocks and energy stocks
KGN, MPET, QMM
I know that I mentioned that I wasn't looking for any new longs, but a few new buys popped up on my radar so I decided to go ahead and grab them.
Market is acting very strong, and is exceeding my expectations...As I have always observed, as long as you keep finding high quality stocks, keep buying them...
posted by Nick M. @ 12:28 PM
16 Comments:
VIX is pushing dreadfully close...
Yes, but until it hits low 20, we still have a chance to make some gains, so hold on tight. Even after it hits 20, uptrend should resume again after a brief consolidation period. We are in a raging bull market and dips should be expected. As long as the overall trend remains, we should be fine.
I'm glad you're bullish.
I know it's cliche', but Jim Cramer was screaming for the bulls last night and that usually makes me uneasy as the market seems to trade against his enthusiasm out of spite, lol!
There were really strong breakouts, though, today, you're right.
Take care,
Chad.
Even a broken clock is right twice day. Jim Cramer is allowed to be right once in a while. j/k. But seriously, I don't want you to misinterpret what I meant. I am super short term bullish (until vix hits 20). Then small correction (just like the last one we had a few weeks ago) and then a resumption of the uptrend (hopefully).
Well I was wrong. Keep a tight stop on your position as to not loose all of your profit and in order to lessen your losses.
I understood you...and I still do my own homework with my own stops, so they're there ;)
I think things are holding today, though. I put in some tight stops to keep profits, but a couple of positions are holding on. I took on in RURL today.
...however, some bear stocks are looking appealing. A couple of the oil plays particularly. Joey Fundora writes a good weekly news letter for ChartAdvisor.com; have you read it?
Scratch that... It's pretty damned down today!
lol, yeah, today is pretty crappy. I'm still interested to see how we close and how much volume is behind this downward move. Agree, so stocks are holding up. I added a bit to CATM as it's showing some support. I've never heard Joe Fundora. I'll check out ChartAdvisor when I have a chance. Thanks for the info!
Wow, I am surprised at some of the resilience to todays action. Lets see if it continues...
BTW, if you are still holding JOEZ, I would sell some for profit. Stock has high chance to fail since it has not made a jump out of its range.
Thank you, I was just evaluating that position!
The weekly chart looks good on JOEZ, but I am usually not this patient...it's been killing me.
I like to think of charts such as JOEZ as wooden planks or diving boards. The longer the lateral trend continues, the longer the board gets. The longer it gets, the less structurally sound it gets as well. It has to either breakout of this trend or it will breakdown. The stock did not break out of this lateral consolidation the last few days when the market was making new highs. If the stock didn't break out then, when will it? I just don't want to be that guy all the way at the end of that shaky long board with the crack in the middle...
That analogy was beautiful, and makes fantastic sense! Thank you.
The next best thing that I like to tell myself is that if I got out to early, I can usually get back in on the breakout... So now I'm going to step off the elongated diving board and watch it for a bit ;)
to=too
no prob, thats just how I like to think about it. Simply put, it should have broke out when the markets broke out to new highs...
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