Tuesday, March 29, 2011


It was a one way street on Wall Street today. If it ain't broken, don't fix it. In that spirit, here are a few long setups that I will be watching tomorrow. Out of these, I took positions in CLNE and IRM today.
PNM - Nice bounce off MA(50). Watch out for break of 15.

CLNE - Volatile stock with high short float. Bullish volume pattern. My stop is below MA(200).

IRM - Showed signs of coming back to life today after two days of solid consolidation.

RYN - Basing for over a month now.

BGCP - 9.50 is the key.

BLC - Seems to have room for one more push.

LPSN - Close above 12.25 today was crucial. Like the volume pattern.

SLB - Watch out for break of 95.

SOHU - Watch out for break of 90.

Take care and good luck!


ppmoore said...

Thanks for the list PT.

How do you scan for these? For example, BGCP, which seems to be setting upu nicely.

positiontrader said...


There are numerous scans that I run depending on the market conditions. If I remember correctly, BGCP showed up in a scan with price over MAs 20, 50, 200 and RSI under 70. I was basically looking for a stock which was performing well but was consolidating, and that's how I ran into BGCP. Hope this helps!

PhoenixTrader said...

Good picks !

PhoenixTrader said...

Very good picks !

positiontrader said...

Thanks! I have to admit CLNE turned out much better than I had expected!