3/29/2010 Additions to the Watch List | Bulls on Wall Street

3/29/2010 Additions to the Watch List

 
 
Hello, fellow Bulls.

The SPY does not lie?  We’ll see..

Do you have your watch list together and a plan of attack for tomorrow? If you haven’t read this blog, then check it out – you’ll understand where I am right now.. leaning bearish, but playing what the market gives me.  Even with the negative vibe, I still managed to trade long on Friday and am holding a few positions headed into tomorrow’s open: HEV, SBLK, and SAY. However, I’m also very heavy cash just in case we do get the drop in the SPY down to the 114.75 range. I’m still bullish through the summer so a pullback here would be healthy.

Monday:

Tomorrow, I’ll approach the market the same way as Friday – i’ll look for more scalps, fewer swings, and hold fewer positions into the close.  If I do pick up long swings, they better look really good on the charts with minimal risk – nothing under $1 will stay in my pocket after hours. 

Here are the latest stocks on the radar for Monday: 

UEC – Holding on to SMA200. Looking for possible reversal swing play here. here – Entry above 3.34 – first soft target at 3.44 with 3.99 next target.

DEER – Interesting chart.. We have somewhat of an inverse head and shoulder. That’s bullish with entry over 13.  We’re also looking at a trading range between SMA100 and SMA50.  I feel like we’re going to see a bullish move soon, but not interested until it gets above SMA100.

EXTR – Holding trendline dating back to November… makes for a pretty good swing candidate if it can hold.  Would like to see an entry in the 3.00 range with stop just under trendline.

FMER  – Somewhat of an ascending triangle happening here. But, I’m most interested in the horizontal resistance at 21.5.  A move above that will likely bring in some swing traders up to 23.

XING – Keeps testing SMA100.  It’s a sucker’s buy until it gets through those levels.  I’ll wait for 2.10 before swinging long.  I think we’ll see a move this week, so keep an eye on it.

SEED – Another swing candidate – nice support on SMA100.  I’m considering a long position over SMA50.  Would love to see this thing move to 15 within a week, or so.

CXM – High risk penny.  Careful!  I like how the MACD is shaping up for a crossover with steadily improving volume over the last 3 days.  I might scalp as it moves through .50 (heavy resistance).

FSII – Lots of high volume accumulation days over the last 4 months… time for the next breakout?  3.91 is thte magic number.  Over that and we could be off to the races.  Earnings on Tuesday.

PWER – I mentioned this one last week and am kicking myself for not buying on Friday.  Great trendline resistance breakout Friday with strong volume and positive MACD crossover.  Looking for more on move to 4.75

 
 
See you in the boom factory!

 

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