Just saw this Susan.. About 1/2 dozen earnings plays including CDWC, NURM, DFXI, DLTR, DSPG, ELNT, NSIT NEWH, NVDA, PWER, SDLI, TEVA, TLGD... I've especially had NURM, ELNT, and TEVA for a long time. But great stocks go down as well as good stocks. I got out of NURM, ELNT and TEVA for many weeks and NSIT, NEWH, PWER were swing trades.
NURM is a good case in point it being a longer term hold for 3 earnings quarters but it tanked as others did the end of March. marketgems.com Its recovering now after a good earnings quarter but its corrected for the last 2 days. A break of 16 could be a new buy trigger for the ride back up to 18 and higher.
After breaking out of an symmetrical triangle to the upside NURM fell back down again and succumbed. ELNT is looking the best though. A fast moving dynamite stock in a short term correction before probably breaking 45, a v-cup and handle and capturing older highs.
Could be a longer term hold when the volatility gets back to normal which should be by next week when the focus is not on 'trading buys' but a solid longer term hold once again.
We still need good technical analysis to time entries because you can be entering before big corrections of the market, or even these stocks could correct because everyone sees these lists and they will be overbought causing a correction. I will be watching this list as well as some others for adding to technical buy triggers when applicable but nothing nowadays can be bought blindly. I notice a lot of 'good reviews' we got on stocks in the last few week have been down quite steeply only to rise for 2 or 3 days and then down again. |
