Monday, 5 April 2010 --
We continue to like many of last months stock ideas... on pullbacks, or course. Here are a few update observations from this morning:
Energy slowly getting better this spring; crude oil making a move recently.
Attractive recent trends appear solid, worth ideas on pullbacks-- CLF, WLT, GD, FLS, EWZ, and CLB, PRGO, CREE, RS, CNQ, PRU, SLX, CMI, TNA, GWW, SLAB, BXP, SPG, ROST, XME, WYNN, NFLX, PNRA, UPRO, CMG, AYI, BGU, keep rockin...
Seems like Gold is slowly (selective stocks) inching up again. TSL,HP,
Steel, some metals stocks acting well. ie, RTP acting well, newer high
Wednesday, 7 April 2010 *** --
Some are already on my favorite list, but some of the stocks below are new... momentum plays to track closer this month for dips or pullbacks:
Tractor Supply (TSCO),
EOG Resources (EOG),
AutoZone (AZO),
Goldman Sachs (GS),
W.W. Grainger (GWW),
Chipotle Mexican Grill (CMG),
Priceline (PCLN),
Triumph Group (TGI),
Panera Bread (PNRA),
Netflix (NFLX)
kind would like a little bigger pullback on these as they get extended...
Apple (AAPL)
Deckers Outdoor (DECK)
*** Theses stocks are just things that stand out today for whatever reason. This is not an all-inclusive list. Also, remember, our US stock market has not had a pullback of any meaningful way in a long time. Someday we will get a surprise, so any new trades you have to factor in those kinds of risks. I just feel confident that any sudden, "unexpected" good pullback is to be expected and still should lead to many interested still in buying these stronger momentum play stocks I mention in recent posts the past couple months as buy opportunities. I am not recommending people chase things, just use their own discretion, due diligence, own judgments. My comments are simple 'quick look' only comments based on pattern matching and Elliott Wave observations. Over the years I have noticed when trading gets too easy, that is when the surprises show up. Things have been way too easy for the past two months.
Tuesday, 13 April 2010 --
Looks like some real estate and education related stocks performing well today: DRN, ESI, DV, VNO, SPG, BXP, APOL, AVB, CECO, REG, DLR, KRC, ICF, RWR, BRE
OTHERS Performing Well: EW, OSK, TYH, WBMD, AAWW, FOSL, AB,
Wed 14 April, 2010 --
I still am having a hard time believing this market is topping out. The BULLS seem to still attract buyers even on limited good news... or at least the very strongest stocks the past six months are... Today's Best Performers (as of 10AM): ISRG, BIDU, TYH, GS, FAS, RTP, BLK, EDC, CREE, MA, AAPL, SNDK, DB, AMZN, FDX, PCLN, RIG, PKX... to name some.
The US stock market just keeps climbing despite an ever growing crescendo of negative press and occasionally a little interspersed good news. Whenever-- if we ever-- get any kind of a decent pullback I am still inclined not to panic near-term and will keep trying to find something setting up for a buy opportunity.
When NY Crude Oil starts to get above $100 - $120 later this spring or early summer than I will start to slowly grow more defensive and, over time, will begin to prepare eventually for another market top or really good pullback. It seems like that could be the possible catalyst for economic slowdown again over the next 12 months.... it just may take some time to get that really good pullback the way things are currently acting.
I am not a guru or anything... I just look for the obvious and try to anticipate the unexpected. It looks like the big money guys are determined to get back all the money they lost on the last market selloff of 2008.
Friday, 16 April, 2010 --
It is a Friday, which in itself can cause position squaring into a weekend. However, after a very good month or so of solid individual stock rallies, it is not surprising we see some overreactions today-- ie, Goldman Sachs (GS), Google (GOOG), Intuitive Surgical (ISRG) showing bigger than normal declines this morning. Periodically that is what happens when institutional investors are involved.
I would anticipate there are still some bulls out there eventually willing to try and take advantage of some of this weakness. You don't normally rush back in and try to buy into this type of weakness immediately because large institutions have ways of punishing little investors who have limited staying power... but if you are patient, and do your due diligence work, don't be surprised if in three days to two weeks you might very well be able to identify relatively lower risk buy setups that should develop once all this selling momentum settles down.
Monday, 19 April, 2010 --
We lightened up positions Friday, trailing stopped out about 50% now with locked in profits on tighter stops. Not rushing back this time but will wait for deeper pullback this time and much cheaper prices for some high-flying stocks. Will let you know later this week what am starting to track more closely for ideas.
Tuesday, 20 April, 2010 -- Today is a good day for Bulls after two hard down days. It confirms there are day-trading and short-term Bulls hanging around ready to act on a quick oversold opportunity. I lightened up Friday and think it was a good idea to lock in some good profits. Nothing has changed my opinion since yesterday. I still think odds favor some of us who are more conservative will get another chance to buy something cheaper over the next week or two.
Thursday, 22 April 2010 --
ICE and CME finally making mini-breakout type moves that suggest they could keep trending more near future. Makes them attractive again for Bulls tracking for dips and pullbacks.
Earnings announcements and NFLX, CMG, acting very well. AMZN acting well too going into its earnings announcements.
Friday, 23 April 2010 --
So far the best stocks prior to earnings continue to live up to expectations and are responding well to earnings news. Odds favor the Bulls still are interested in holding or adding to their positions and Bearishness is not building.
Tuesday, 27 April 2010 -- A little over a week ago we posted the following post (see below) telling how we lightened up the Friday before, how we were not rushing back in until we saw a bigger pullback. Today's weakness could be the beginning of that bigger pullback. We will be tracking key stocks in coming days and into May to see if we can identify safe buy windows some time over the near future.... at lower prices. Still no hurry to get back in... only if quality buy windows develop.
(04-19-2010 12:05 PM)Marc Rinehart Wrote: [ -> ]Monday, 19 April, 2010 --
We lightened up positions Friday, trailing stopped out about 50% now with locked in profits on tighter stops. Not rushing back this time but will wait for deeper pullback this time and much cheaper prices for some high-flying stocks. Will let you know later this week what am starting to track more closely for ideas.
Thursday, April 29, 2010 -- When I said I was in no hurry to get back in I meant I was not going to chase things. What I am doing now is buying Calls to limit my risk but I still desire to buy things rather than going short, per say. I did not want anyone to think I am Bearish. I am not. I am still Bullish overall. I just recognize currently their can be higher risk buying new things at higher prices like they currently are.
Friday, 30 April 2010 -- Two New Things...
(1) One thing I would be willing to buy PUTS or go short in the next month would be some of the bigger Energy stocks affected by the Gulf Coast oil spill. While I still think energy futures prices will go higher the next few months, I thinks some of the stocks like RIG, etc, are showing bigger topping actions. I would not be afraid to do some Puts on the next big rally in some of those energy stocks currently getting beat up because they look very vulnerable to more weakness the next couple months....
(2) Goldman Sachs (GS) and Blackrock (BLK) stocks (maybe others in this area that could be affected by pending legislation in the works) appear to be more vulnerable near-term for downtrends.
(Extra)... while overall Bullish these are some new observations I wanted to share to add clarity to what I posted yesterday. One more thing: Monday I said in our live class I once again am liking Gold futures and related stocks. I never recorded those comments in the Forum so wanted to post them here as well since Gold stocks are rising well this week.
(Extra, extra)... DNDN and ISRG really catching my eye the past two days... I hesitated buying a little of DNDN on an internal day-trade pullback yesterday and regretting it today. Trading these guys are not for the faint at heart. Do your one due diligence.