Steckler's Star Studded Stock Picks

[DSteckler]

Two to watch

SMSC in a congestion zone. The daily technicals are pretty overbought but the weeklies are not, suggesting there's still soom room to run if the market behaves itself. ERG = 252 and estimates for the upcoming quarter are +172.73% compared to last year. Action the past two days has been bearish.

There's a very strong rising support line around 29 1/2. If that gets taken out, a test of the 200DMA is likely. If it holds, that could be a good place to start buying.

URI looks very overbought. The SEC is investigating them and three executives were fired for accounting irregularities. The NYSE has taken action to delist them. I don't understand why this one hasn't cratered yet.

[DSteckler]

Float < 7 million, ERG > 250

ICOP made a stochastic pop a few days ago, proceeded to pull back, and yesterday bounced sharply off the 50DMA/20-day EMA confluence.

CECE made a bearish engulfing bar yesterday on 1.5X ADV. A pullback to the 50DMA is probable.

[DSteckler]

A few more to watch

TRN has been pulling back with heavier volume on the down days than on the up days. The Volume Flow Indicator turned bearish yesterday. If the 20-day EMA gets taken out, a test of the 50DMA is likely.

ARD pulled back to the 50DMA and is bouncing between this MA and the 20-day EMA, a couple of points above the MA. Low ADX (17.63) and the RSI is holding around 45, which is a positive as long as it doesn't fall much lower. Daily technicals are close to bottoming out but the weeklies suggest downside pressure is still out there.

DO - above average volume the past three days and yesterday it closed below the 20-day EMA. It's fighting to stay bullish but you can see it rolling over on the daily chart.

BUCY - another one that's rolled over but it's holding above the 20-day EMA. If it consolidates around its current price, that would be a positive.

KWK - closed right on the rising trend line (using the 11/8 and 1/26 lows), which is also right on the 50DMA. Connect the 10/3 and 2/1 highs for a resistance line and you're looking at a rising wedge in an uptrend. If the support line is taken out the 200DMA isn't far below (3 points) but that MA hasn't acted as support when tested in the past.

NIHD - still bullish and climbing in a rising trend channel.

[RL]

Dave what Is your take on gold Is the run over?

[DSteckler]

Well, I hope it runs a little longer...I went long the Rydex Precious Metals fund on Tuesday <g>.

The fundies suggest there's still room to the upside but gold has made a helluva run since May. Some profit taking seems inevitable. A pullback to the 50DMA (currently $520; I'm looking at the spot gold chart) would be a good place to start buying but that's a $40 pullback; hard to say whether gold will come back that far.

[DSteckler]

I am so pissed!

I had a stop limit buy order in from yesterday on IIJI. Today it jumped the stop by a huge margin and I never got in.

DAMN!!!!!!!!!!!!

[spikefader]

..URI looks very overbought. The SEC is investigating them and three executives were fired for accounting irregularities. The NYSE has taken action to delist them. I don't understand why this one hasn't cratered yet.

Dunno bout the fundies, but techs show what happened, and still in a 3?? Probably due for the 4 down soon....

[DSteckler]

Can't help but think that someone(s) is holding this up.

[DSteckler]

Gigm

Breaks out of the falling flag pattern, retracing 50% of the drop. It needs to move higher still or this is an opportunity for a short.

[IIC]

Dave what Is your take on gold Is the run over?

You didn't ask me Ray...But my comment is "All that Glitters...Is not Gold"

[DSteckler]

<< "All that Glitters...Is not Gold" >>

Sometimes it's pyrite!

[DSteckler]

LGTY constructive consolidation

LGTY is consolidating around the 50% retracement level since its gap open higher on 12/5. Note the bullish divergence between price and stochastic.

http://www.ttrader.com/mycharts/display.php?p=38622&u=dave&a=MyCharts&id=690

[DSteckler]

Bow tie candidates for next week

Hopefully, these work out better than last week's candidates!

USNA
EXBD
SHRP

1. The MAs shift from proper downtrend order (10-SMA < 20-EMA < 30-EMA) to proper uptrend order (10-SMA > 20-EMA > 30-EMA). What you're looking for is for the MAs to converge and then spread out again, giving the appearance of a bow tie.

2. Today's low must be less than yesterday's low.

3. Tomorrow, place a buy order 1 - 2 ticks above today's high good for tomorrow.

4. If not filled, continue to work the order above the prior day's high good for the next trading day until either filled or the stock trades below its 20-day EMA.

5. If filled, place a protective stop below the lowest bar in the setup.

[DSteckler]

Zumz

Climbing a rising trend channel. Estimates for the next two quarters are up 113.56% and 665% respectively, YOY.

[DSteckler]

Cooper 1-2-3-4 candidates for next week

JOYG (sitting just above its 20-day EMA).


Cooper candidate are stocks that have a high RS rank (95 or greater) and make a three-day pullback, either three consecutive lower lows or a combination of lower lows and inside days. Enter long on Day 4, 1 - 2 ticks above the Day-3 high.

The trade can be worked one additional day (lower low or inside day on Day 4, enter long on Day 5 one - two ticks above the Day-4 high). If it doesn't pop on Day 5, abandon the trade.