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Tuesday, March 29, 2011

Watchlist

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!
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5 comments:

  1. ppmooreMarch 30, 2011 at 2:03 AM

    Thanks for the list PT.

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

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  2. positiontraderMarch 30, 2011 at 4:13 AM

    Thanks!

    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!

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  3. PhoenixTraderMarch 30, 2011 at 10:34 AM

    Good picks !

    ReplyDelete
  4. PhoenixTraderMarch 30, 2011 at 10:34 AM

    Very good picks !

    ReplyDelete
  5. positiontraderMarch 30, 2011 at 2:08 PM

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

    ReplyDelete