Hot Pick Of The Day

[New-born baby]

Dear NB,
Please be so kind as to let me knwo what the TA looks like on the Uranium stocks FRG and URZ.

Sorry I was so slow to post an answer. I was out of the office all trading day, and that's a shame seeing the Dow moved up 123 points.

FRG: Did you see today's candle? Although the price moved up and down, FRG finished about where it started the day. That means the market is undecided which way to go with this stock. Looking at the supports, you have strong support at $5.31. Today's low was $5.34, which would have been an excellent entry if you are a believer in FRG. And officially FRG is still in a bull trend, although she received a high pole warning on the PnF on Sept 20. There is something of the look of a symmetrical triangle about this one: ie, market indecision. When the triangle breaks out, trade the direction of the break. The bias is bullish in that the bull trend has not already been broken, but today's candle shows just how much indecision the market has with this stock.

[New-born baby]

Dear NB,
Please be so kind as to let me knwo what the TA looks like on the Uranium stocks FRG and URZ.

URZ "weakly" looks like she is going to roll over (bearish). Note those lower highs and the head and shoulders look at it. The short term is surely bearish on this one. If you love it and want it, I'd be looking to enter around $1.67 with a fairly close stop. That would make a double bottom, and if that support fails, fu-git-it.

[New-born baby]

NB Looking at 4 prospects .....RMTR, MCZ, PHMD and ACTU......I seem to like ACTU........which do you like? Thanx Peter

Hello Pete.
All I can say is that you are a very good stock picker. Thanks for posting these for me to look at.
ACTU: I know why you like this one; cup forming that shows the possibility of a 25% move from here. Pete this one has some support at $4.41 (pretty close to today's close). The strongest support is down low at $3.81.

RMTR: the inverted head and shoulders targetted the $3.40, and it reached the target yesterday, i.e. "late to the party." Still the chart is very bullish and may, over time, work its way up to $6.00 again.

MCZ: another inverted head and shoulders blast off. Nice chart, esp. if it can make it over $.60. That's resistance at this time.

PHMD: has nice support at $1.58, and being now $1.70, it isn't too far away. But it has a lot of overhead resistance to overcome before she can really do much.

All of these have bullish potential. Some are still fighting underneath their 200 day, so they are bottom fishing candidates. I like the cup best: ACTU.

[Runner]

Can't argue with the bull here. Notice the perfect tag or retest. All this talk about the DOW makes me nervous on the long side. NB how many stocks does the DOW have????? What about the other 10,000....haha

[Runner]

What can I say this market has been stronger then I thought. I feel it is now to late to get long and by the look of my short today it's to early to get short. might get stopped out of wal-mart...hehe.. Anyway I'd suggest moving into management mode and or trail mode to lock it in... Who knows where we run from here. I did see some sweet gains in the Apparel Store group today. In fact it was very strong...

NB, what is your game plan for current conditions?

[New-born baby]

What can I say this market has been stronger then I thought. I feel it is now to late to get long and by the look of my short today it's to early to get short. might get stopped out of wal-mart...hehe.. Anyway I'd suggest moving into management mode and or trail mode to lock it in... Who knows where we run from here. I did see some sweet gains in the Apparel Store group today. In fact it was very strong...

NB, what is your game plan for current conditions?

Runner,
My game plan is to wait for several reasons: 1. I am by nature a bear, and I like shorting stocks and options better than taking longs. My time will come. 2. My mind questions how the market can run up when we have had two consecutive months of slowing economic activity. The 'negative divergence' cannot last forever. 3. Now is the time, imo, to look for shorts to take when the worm turns.

I am almost entirely in cash; I have only a handful of short options on AMLN. Also I noticed that SU put in a double bottom today and bounced higher. Your opinion?

[Runner]

Runner,
My game plan is to wait for several reasons: 1. I am by nature a bear, and I like shorting stocks and options better than taking longs. My time will come. 2. My mind questions how the market can run up when we have had two consecutive months of slowing economic activity. The 'negative divergence' cannot last forever. 3. Now is the time, imo, to look for shorts to take when the worm turns.

I am almost entirely in cash; I have only a handful of short options on AMLN. Also I noticed that SU put in a double bottom today and bounced higher. Your opinion?

NB, I think it is to late to go long and to early to go short. I can not argue with the bullish trend that has been taking hold over the Indices. For now the trend is up. I think the hype over the news channels will possibly bring up some very good shorts in the not to distant future. Many Johnny-come -latelys will be hearing the news and running to the nearest broker to get in on the action.

Having said this here is another possible thing to consider. Many fund managers that have not impressed their clients might be trying to get some end of year gains. This way they look like hero's and can brag how good they are in managing the fund. They got some weight to throw around. maybe several on the street thought oh my God the Dow is at new highs. I better start looking good. This way they keep some job security for awhile longer.

[peanuts]

NB, I think it is to late to go long and to early to go short. I can not argue with the bullish trend that has been taking hold over the Indices. For now the trend is up. I think the hype over the news channels will possibly bring up some very good shorts in the not to distant future. Many Johnny-come -latelys will be hearing the news and running to the nearest broker to get in on the action.

Having said this here is another possible thing to consider. Many fund managers that have not impressed their clients might be trying to get some end of year gains. This way they look like hero's and can brag how good they are in managing the fund. They got some weight to throw around. maybe several on the street thought oh my God the Dow is at new highs. I better start looking good. This way they keep some job security for awhile longer.

Interesting thoughts, I like it. Where do you think we are on this chart:



I think we are just past "excitement". I think we were at "capitulation" during the second week of July. "optimism" was only a week ago when everyone started to watch the DOW creep to all time highs...

[New-born baby]

Interesting thoughts, I like it. Where do you think we are on this chart:

I think we are just past "excitement". I think we were at "capitulation" during the second week of July. "optimism" was only a week ago when everyone started to watch the DOW creep to all time highs...

Here's some peanuts for you to chomp on, Peanuts

http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm

It ought to be clear that the Dow is out of balance. But the optimism pushed the NAZ higher today. Should find quite a few shorts in the NAZ soon.

[skiracer]

Here's some peanuts for you to chomp on, Peanuts

http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm

It ought to be clear that the Dow is out of balance. But the optimism pushed the NAZ higher today. Should find quite a few shorts in the NAZ soon.

How can you go wrong when you state that it is going to be one or the other depending on the circumstances.

[New-born baby]

How can you go wrong when you state that it is going to be one or the other depending on the circumstances.

Ski,
You can't. I think that the man is saying, "Wait and see if the other indices begin to catch up to the Dow before you put the entire wad down on the barrelhead."

[New-born baby]

Crude

Runner, et al:
Here's the crude futures for the next six years.

http://www2.barchart.com/dfutpage.asp?sym=CL&code=BSTK

[peanuts]

Here's some peanuts for you to chomp on, Peanuts

http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm

It ought to be clear that the Dow is out of balance. But the optimism pushed the NAZ higher today. Should find quite a few shorts in the NAZ soon.

What? The DOW isn't allowed to lead? I think it can, as we have been witnessing a broad "industrial" boom.

I think that the glass is half full, you must see it as half empty...

as a side note, here's how engineers see it- "the glass is twice as big as it needs to be"

[New-born baby]

Amln

AMLN had an emotional retest of the $43.77 support and pulled back. What I see happening is investors feeling pretty good right now (euphoric, Peanuts?) and that rising tide floating all boats, including this one. In other words, you short the dog at resistance.

[New-born baby]

ANNie baby!

I like this morning as a great time to buy ANN. I jumped in.

They are selling the news. Same store sales projection was 3.9% increase;
it came in at 5.8% increase.