Hot Pick Of The Day

[Gwhiz]

NEW born,
I've been watching gld for a while, could it have formed an inverted head and shoulders?

[peanuts]

NBB,

I know you're busy, dude, but can you take some time out to look at GNA for me? I'd appreciate your input. I entered a position and now I'm thinking that the MT potential makes GNA worth holding longer than a week and maybe even months...

Thanks!

[New-born baby]

THE DNA on GNA

NBB,

I know you're busy, dude, but can you take some time out to look at GNA for me? I'd appreciate your input. I entered a position and now I'm thinking that the MT potential makes GNA worth holding longer than a week and maybe even months...

Thanks!

Sure, Peanuts. Anytime

Looking at the weekly, the longterm chart says that IF GNA can bust the $10.68 resistance, we are looking at a nice $3+ pop on it. $9.93 is an excellent entry in that it is support--massive support. What troubles me about GNA right now is that it has risen the last four weeks--on lower volume. That's bearish in itself. I'd be setting a stop just below the $9.93 level. Or maybe not. It has huge, MM sized support along the $8.82 line.

Looking at the daily, it shows a long upper wick today: that's bearish. She's going to pull back from that weak advance on low volume, I think.

Conclusion: if she busts the $10.68 resistance, it looks very strong to $13+. Right now I am thinking she is headed back down to the $9.93, or $9.68 levels before that happens. At least, that's my best guess.

[New-born baby]

Qsii

Ninner,
What's the deal with QSII selling off today? Taking near a 10% hit.

[peanuts]

Sure, Peanuts. Anytime

Looking at the weekly, the longterm chart says that IF GNA can bust the $10.68 resistance, we are looking at a nice $3+ pop on it. $9.93 is an excellent entry in that it is support--massive support. What troubles me about GNA right now is that it has risen the last four weeks--on lower volume. That's bearish in itself. I'd be setting a stop just below the $9.93 level. Or maybe not. It has huge, MM sized support along the $8.82 line.

Looking at the daily, it shows a long upper wick today: that's bearish. She's going to pull back from that weak advance on low volume, I think.

Conclusion: if she busts the $10.68 resistance, it looks very strong to $13+. Right now I am thinking she is headed back down to the $9.93, or $9.68 levels before that happens. At least, that's my best guess.

Thanks. I'll be holding the position and watching for the price levels you've mentioned. You're the coolest... forget that skiracer dude

[New-born baby]

Hello NB, been awhile anyway I’m looking at a past winning stock named Urban Outfitters Inc. Could it be possible that this guy is attempting to change character from a down trending stock?

I notice a 3-day bar chart in a possible weak up trend. Now having said this I wonder how this one would perform during a broader market P/B. URBN is surely not a leader in the group at this time. The sector has been in gear as of late. I was wondering if your chart reading has a possible target on this one to around 23.00. I’m thinking 17.00 needs to hold. URBAN has been in a very strong downtrend and so we also could be seeing a pullback in the direction on the longer-term trend. NB what are your comments on URBN?

Runner,
My sincerest apologies for missing your post. DRAT! I hate ignoring anyone, most of all you, because you really know how to dig out those potatoes!

Anyway: URBN
I want that $17.18 support to hold. If it doesn't, I don't want any part of URBN for now. The wicks on the last two weekly candles show that she is still selling off, but the bulls are trying. URBN could return to the $14 or $15 levels should $17 not hold the line. My gut says she might turn a corner here.

Therefore I conclude that any entry here needs a stop around $16.99. Long targets would be $18.88 and $20.00 and (gulp!) $27.00 USD R/R is pretty good, isn't it? And it has an option chain, too!

[Runner]

No problem NB. I have not done anything with Urban. Thanks for your chart read!

[Runner]

NB, take a look at BA. I'm thinking it might be in a possible P/B for a short play. Daily shows some drifting or wedging up.

[rickflyboy]

Ma

NBB,

How about MA its on fire, is there any gas left ?

[New-born baby]

NBB,

How about MA its on fire, is there any gas left ?

Yes, I think so. Tragically I didn't buy a call on this one three days ago. It came up on one of my scans, but I was going to be gone and couldn't watch it, so I let it go. NICE POP!

MA is in the Twilight Zone, i.e., no overhead resistance, and nothing to hold it back anywhere. Very strong day today, too. Still--there is always danger in the market. Use stops. If you are in the stock already, I would say that I would use the gap up as my exit line. In other words, $81.75 is the top of the gap, and I would put a stop in at $81.55 or so. If you are not in the stock already, I would be looking for a pullback to enter, and a pullback to $82.50 on down to $81.90. MA also sports an option chain. Targets? RSI is already approaching 70 (overbought). The bull flag says $95+. So if you entered at $82.50, and risked $.95, with a target of $95 (reward then being $12.50), your r/r is 13, which is good. An entry at $81.90 is even better, of course. Good profits with it.

[New-born baby]

NB, take a look at BA. I'm thinking it might be in a possible P/B for a short play. Daily shows some drifting or wedging up.

Runner,
First, great, great call on FMD. You really know how to scan and pick stocks!

BA:if she busts the $79 level, I am looking for $73. What do you say? And how about the sector? Weakening? I really expect the entire market to weaken even more than it has these last five days.

[Runner]

NB it was Skiracer who brought FMD to my attention. He mentioned it on his thread and took a short position the other day. I was not at the screen all day and missed the trigger line.

Here is a chart with trigger point on BA it did trigger today and I did not take it. The red line is the sector action and seems to be in a little trouble. I still like commodity stocks on the long side. Even though I got kicked out of BTU. I still like it and also ACI and a copper stock PCU over yesterdays fake out. Many oil related issues are showing possible C/W/H's and in pullback mode. If the market does lose ground I still feel commodity stocks might trade independent of the broader market. We shall see!

[rickflyboy]

Ma

Thanks NB

I have bot and sold 3 times since IPO, for some very nice gains. Looking to get back in.

[New-born baby]

NB it was Skiracer who brought FMD to my attention. He mentioned it on his thread and took a short position the other day. I was not at the screen all day and missed the trigger line.

Here is a chart with trigger point on BA it did trigger today and I did not take it. The red line is the sector action and seems to be in a little trouble. I still like commodity stocks on the long side. Even though I got kicked out of BTU. I still like it and also ACI and a copper stock PCU over yesterdays fake out. Many oil related issues are showing possible C/W/H's and in pullback mode. If the market does lose ground I still feel commodity stocks might trade independent of the broader market. We shall see!

Runner,
Any opinions on VLO?

[New-born baby]

Thanks NB

I have bot and sold 3 times since IPO, for some very nice gains. Looking to get back in.

Okay. Like I said, I'd be looking for that pullback to retest the gap. An entry there with a protective stop would be good (imho). One thing you know: she's going to retest the gap support. MA sports a nice option chain, too, so you can make a play that way also.