Skiracer's stock slopes

[skiracer]

Here's a weekly chart on HUN. it's been in an upward trading range for several month since back in 3/09. i have the elliot wave count at the b wave down in the abc 3 wave down corrective series of waves which usually occur at the end of the 5th wave up and before another series of 5 waves up begins. i could be wrong on this count and it could be just finishing up it's 5th wave up which would mean that it would now be getting ready for the beginning of the abc corrective pattern instead of close to finishing that corrective series. either way i am going to wait for the corrective abc series to finish up with the ensuing c wave down or the complete series of abc to start and finish before i would consider an entry. and either way i am still very bullish on HUN as the 20 ema has crossed back above it's 50 ema in 11/09 and it's 100 ema in 1/10 which i consider bullish signals. moving average crossovers to the upside are only signalling one thing. price action has to be moving up and when they are recent happenings like in HUN's case the indication is that there is still plenty of gas in the tank. as i stated i am definitely looking for an entry but will wait it out to see which way the wind is going to blow next week and for the expected corrective action to take place first. i would love to see it fall to $13 or lower levels and get in as cheap as i can. fundamentally speaking things are good. here something on their 4th qtr. report and here is the chart:

Fourth Quarter 2009 Highlights

* Revenues for the fourth quarter of 2009 were $2,096 million, an increase of 2% compared to $2,048 million for the same period in 2008 and a decrease of 1% compared to $2,108 million for the third quarter of 2009.
* Volumes for the fourth quarter of 2009 increased 13% compared to the same period in 2008 and decreased 7% compared to the third quarter of 2009 consistent with historical seasonal patterns.
* Adjusted EBITDA for the fourth quarter of 2009 was $165 million compared to $51 million for the same period in 2008 and $200 million for the third quarter of 2009.
* Net income attributable to Huntsman Corporation for the fourth quarter of 2009 was $66 million or $0.26 per diluted share, impacted by favorable year end accounting for taxes of approximately $79 million. This compares to net income attributable to Huntsman Corporation of $598 million or $2.53 per diluted share for the same period in 2008 and a net loss attributable to Huntsman Corporation of $68 million or $0.29 loss per diluted share for the third quarter of 2009.
* Adjusted net income for the fourth quarter of 2009 was $70 million or $0.27 per diluted share, impacted by favorable year end accounting for taxes of approximately $79 million. This compares to an adjusted net loss of $91 million or $0.38 loss per diluted share for the same period in 2008 and an adjusted net loss of $55 million or $0.24 loss per diluted share for the third quarter of 2009.

[B]HUN will very likely be my next trade. I have been patiently waiting for it to comeback to the range I was looking for which was somewhere around the $13 / 13.25 range or lower. anything lower will be a gift and a great bargain. getting very close. nothing has changed with the chart and my annotations or with the stocks fundamentals that would change my opinion. just looking to get in as close to the bottom of this recent correction as possible. this is going to be a very nice play and i'm looking for it to go to somewhere around $20 range maybe even as far as $25 which is the area of previous highs. worth keeping an eye on for sure.
These are pretty solid picks and you could do alot worse. these are my last 4 trades:
WBS: In @ $13.05 / exit $16.10: + 3.05 = + 23.4 %
VSH: In @ $7.75 / exit $10.75: + 3.00 = 38.7 %
NYB: In @ $15.75 / open - close today @ $15.99: + .24. this one still a great entry and i'm looking for it to go to somewhere between $20 / 25 range.
ADAT: In @ $1.00 / 1.03: open - close today at $1.01: - .02. this stock and trade is starting to show some momentum. this is still a great time to get into the position. this stock is for real and is going to be selling it's product line to every doctors practice / medical clinic / hospital across the country and in europe.
A full position for me by myself would be approx. $20000 / 25000 thousand. with a stock like HUN selling at $13.25 i would extend the gross position to $26000 + to get a full 2000 shares. if the stock goes to $20 that's 6 points x 2000 = + $12000 on the trade for approx 2 - 3 wks. the most i would lose on the trade would be 7 % from my entry of $13 or $.91 or the stock would have to drop to around $12.10 or so and I would exit the trade automatically.

[Invested Central]

CPSL - China Precision Steel Inc.

CPSL is a $122 million basic materials company that engages in the manufacture and sale of high precision cold-rolled steel products in the People's Republic of China. CPSL has been downtrending for months after making a huge run higher in the middle of 2009. On Monday, the downtrend was broken on massive volume. This will likely lead to further gains, although CPSL is slightly overbought with an RSI already piercing the 70 level. We would expect any pullback to the $2.40-$2.50 area to represent a solid entry point. A close below $2.30 would be an initial warning sign, but the big closing support level is $2.14. In time, CPSL could challenge the 2009 highs near $3.30.

[skiracer]

CPSL is a $122 million basic materials company that engages in the manufacture and sale of high precision cold-rolled steel products in the People's Republic of China. CPSL has been downtrending for months after making a huge run higher in the middle of 2009. On Monday, the downtrend was broken on massive volume. This will likely lead to further gains, although CPSL is slightly overbought with an RSI already piercing the 70 level. We would expect any pullback to the $2.40-$2.50 area to represent a solid entry point. A close below $2.30 would be an initial warning sign, but the big closing support level is $2.14. In time, CPSL could challenge the 2009 highs near $3.30.

Invested Central,
thank you for posting your chart on my thread. Please feel free to do so right here anytime you have a setup or chart you would like to bring to everyone's attention. i always say the more the better and if it encourages more stock and trading dialogue that's even better. i took a look at the fundamentals and althought not exactly strong they are encouraging and it looks as if the stock could be coming around. i also took a look at it's weekly chart on which there are a few items that i found interesting and positive. i'm going to post it's weekly chart to supplement your daily. once again thanks and anytime you have a stock or chart you want to post on please feel free to post right here. and nicely done i might add. ski.

[skiracer]

here is a look at CPSL's weekly chart. there are some nice things going on with the stock and it could have put in it's bottom at $1.75. could easily go higher than previous highs at $3.49. filled all of it's gaps up and only resistance left is at it's 100 ema at $2.92. with an entry here and a stop at 7% around $2.25 you're risking .17 to gain 2.08 at $4.50 and more at $5.00. since it looks like it already has put it's bottom in at $1.75 the possibilities of seeing 7% below an entry at $2.42. or $2.25 is minimal. the risk vs reward is 12:1. not bad r/r at all. here's the chart:

[billyjoe]

Ski,

Here's a 6 month comparison of some of our favorites courtesy of Yahoo Finance.

What I'm really interested in is the behaviour of CTEL. If this is a healthy pullback there's good money to be made.

http://finance.yahoo.com/echarts?s=CTEL#chart1:symbol=ctel;range=6m;indicator=volume;charttype=candlestic

[billyjoe]

Maybe this will work.

http://finance.yahoo.com/echarts?s=CTEL#chart2:symbol=ctel;range=6m;compare=adat+hun+nyb+njr;indicato

[riverbabe]

Marty Chenard

Since I don't have my own thread here, I am borrowing Ski's. Hope that's okay Ski.

Marty Chenard is a well known superb technical analyst to those of us in this Forum. You newcomers might not know about his free analyses each day. The following is today's example. His is always a learning experience for me and others here. Some of us subscribe to his site because he is simply amazing.

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

Disclaimer: I don't know him and have nothing to gain from this endorsement, altho I have called him occasionally with questions funneled thru his wife, with clear answers from him on the spot. Our dear friend Newborn Baby also swore by him. But I certainly do not have a vested interest in his views or his site and I don't believe NBB did also.

Where is Newborn anyway?

Just wanted to share this with the newcomers here.

[riverbabe]

This is part one from yesterday.

http://us.mg203.mail.yahoo.com/dc/launch?.partner=sbc&.gx=1&.rand=banjqci807ord

[billyjoe]

River,
Why do I get my e-mail when I click on your link?


------------billy

[skiracer]

Since I don't have my own thread here, I am borrowing Ski's. Hope that's okay Ski.

Marty Chenard is a well known superb technical analyst to those of us in this Forum. You newcomers might not know about his free analyses each day. The following is today's example. His is always a learning experience for me and others here. Some of us subscribe to his site because he is simply amazing.

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

Disclaimer: I don't know him and have nothing to gain from this endorsement, altho I have called him occasionally with questions funneled thru his wife, with clear answers from him on the spot. Our dear friend Newborn Baby also swore by him. But I certainly do not have a vested interest in his views or his site and I don't believe NBB did also.

Where is Newborn anyway?

Just wanted to share this with the newcomers here.

River, you can use my thread for anything that you want to post anytime. but just for the record and everyone else's who might read your comments regarding Marty Chenard here on my thread i would not be promoting him in any fashion or do I use his analysis in any way. since we are good friends if you mentioned a stock to me that you got from Marty Chenard I would look at it like I would look at any other stock that anyone might mention to me and draw my own conclusions thru my own DD. and not to slight you because i know and you are making it apparent here that you like his analysis and picks, I have personally told you how I feel about him and do not want anyone to drawn any conclusions that I would promote him here. but no one should ever overlook any possibilities that could prove positive regardless of where they come from.

[riverbabe]

River, you can use my thread for anything that you want to post anytime. but just for the record and everyone else's who might read your comments regarding Marty Chenard here on my thread i would not be promoting him in any fashion or do I use his analysis in any way. since we are good friends if you mentioned a stock to me that you got from Marty Chenard I would look at it like I would look at any other stock that anyone might mention to me and draw my own conclusions thru my own DD. and not to slight you because i know and you are making it apparent here that you like his analysis and picks, I have personally told you how I feel about him and do not want anyone to drawn any conclusions that I would promote him here. but no one should ever overlook any possibilities that could prove positive regardless of where they come from.

For the record, Marty Chenard never mentions any individual stock picks. His expertise is in market trends and institutional buying/selling trends plus much more with respect to trading of indicies.

And, I thank you for the use of your thread. You are most gracious.

[riverbabe]

River,
Why do I get my e-mail when I click on your link?


------------billy

huh? sorry billy, don't know what you are talking about

[riverbabe]

River,
Why do I get my e-mail when I click on your link?


------------billy

I have no idea! But I have to get to the bottom of it. Sorry billy.

[riverbabe]

I have no idea! But I have to get to the bottom of it. Sorry billy.

Some aberration occurred. My inbox has just shown emails I deleted eons ago. This is really wiered. I apologize for the inconvenience to anyone who has experienced this. I am now doing a total wipe clean.

[steelman]

Hun

Ski,

Thanks for bringing HUN to our attention. It does look like there was a good buying opportunity around $12.25 or so on 2/16. I am with you, it does look like it will correct some. Last week stochastics went below 75 and MACD went negative. If you think it's a good one, I will keep watching and wait until stochastics and MACD turn the other way. You might want to take a look at TJX too. It has some good momentum right now with good fundamentals.

Best,
Steel