Sunday, February 26, 2006

Watch list for week of 2-27-06

Highlights from my market homework software this weekend:



Not a whole lot has changed during the past week maybe in part to it being a 4 day trading week, but I should say that I am encouraged by the nice "bull flag" type of consolidation we are seeing on the nasdaq composite daily chart. I am carrying a lot of stocks long right now in anticipation of a market breakout to new highs. As always, I don't know what will happen but I'm always positioning my equity to be on the right side of the market trend on the daily and weekly charts. Right now, that is up.

Wednesday, February 22, 2006

RURL triple cup base


RURL triple cup base

Monday, February 20, 2006

Watch list for week of 2-20-06

Here are the highlights of my market homework software this weekend:



Some of those stocks are near new highs, but most of them look like they might be trend reversals where the stock has been below its 50 day SMA for a long time and has recently been able to hold its ground above it. The most interesting chart in my opinion is the first one, RURL. RURL is consolidating near multi-year highs, and is towards the end of a triple cup base on its daily chart. I don't know if RURL will break out or not, but it is one of my favorite chart patterns to trade because support and resistance in the pattern are so obvious.

Monday, February 13, 2006

Watch list for week of 2-13-06

The list from my market homework software this weekend is quite small again. With all the stocks that have pulled back lately, you'd think there would be more attractive bases and consolidations than there are. For any new readers, let me explain that my market homework software has been written to identify stocks that are near technical price support and shouldn't fall much from their current levels if they are healthy enough for me to be interested in owning. Because it doesn't take much of a drop in price to tell me whether the stock is good or not, it presents a low risk buying opportunity for me. However, usually I just watch the stocks that I list here without buying them, so just because I list a stock doesn't mean that I recommend buying or selling it. So here's this week's list:



Gorden Gekko at the Knight Trader sent along a handful of stocks that he's watching right now, and the most interesting one I saw was ABP.

On another front, it has been very interesting to read the systems development blog posts over at The Taylor Tree and Dayve Johnson's blog. If you haven't seen these yet, head on over.

Monday, February 06, 2006

Watch list for week of 2-6-06

There's nothing from my market homework software this weekend that I'm too excited about. Here's the list:



Some of these stocks look to me like they may be putting in bottoms, and others are nicely consolidating in such a way that leads me to believe that higher prices are ahead. The quantity of stocks is noticably smaller this weekend, and it may have something to do with fewer stocks hitting new highs. There is a chart several people have posted to their trading blogs over the past week or two and I'll post a link to it too because it is worth looking at:

$NASI weekly chart

$NASI is a breadth indicator, and is currently near the top of a contracting range. I don't know if it will keep going higher or not, but if it starts to turn down, it will be because the market is getting hit with broad selling. I'll also be closely watching GOOG, AAPL, and SNDK to help guage market strength. I may ease back on the margin if these leading stocks start to really fall apart. I have a big position in NTRI, which is a very strong stock that has also seen a lot of significant selling lately, but fortunately is still holding at the "50 day moving average" support.

Wednesday, February 01, 2006

The quick 'n dirty on INCX.




Sorry for the delay. I forgot about posting this yesterday.