Hi, Rande and Thread: the following is my "TA for Boneheads" (with myself as a self-admitted Bonehead extraordinaire). This rambling piece is a continuation and update from last Saturday's post #29167. All the usual caveats apply and I do greatly appreciate feedback and constructive criticisms, both public and private. Note: I have positions in some or all of the stocks listed below.
For purposes here, fundamentals are either ignored or are presumed to be reflected by current price and movement (all data from market close 7/14/00). These are my opinions only, fwiw, so do your own dd. Again, responses and comments from any and all would be greatly appreciated!
I believe the following stocks have given new or recent "position buy" signals (NOT daytrades) based upon bullish chart formations and conservative slow-moving stochastics (from Askresearch.com). I have also determined what I believe are resistance/breakout points (abbreviated below as RBOP) that can be consistently good entry/exit points for position trades (again, NOT daytrades):
A-trendline support held at 66 for solid buying opportunity. Next RBOP at 80.
AETH-trendline support held at 150 for buy opp, next major RBOP at 218.
ANAD-RBOPs at 34 & 50 with trendline support at 30.
AOL-major RBOPs at 58, 75, 95
ARTT-RBOPs at 14, 18
ATHM-RBOPs at 18, 23
ATML-RBOPs at 37, 48
CNQR-Buy signal at 3 3/4, RBOPs at 4 3/4, 10
CNXT-Buy sig at 48, RBOP at 60
COVD-Buy sig at 17, gap to fill at 25, RBOP at 30
CS-Buy sig at 22, RBOP at 27, gaps to fill at 38 & 47
CSCO-Buy sig at 63, RBOP at 70
CTXS-Buy sig at 19, gap at 40
DISH-Buy sig at 35, RBOPs at 46, 51, 65
DITC-Buy sig at 82, RBOP descending tops line at 92
ENGA-Buy sig at 12, RBOPs at 17, 21
EXDS-Buy sig at 41, RBOPs at 56, 72, 88
FBCE-Buy sig at 4 5/8, RBOP at 6
FNSR-Buy sig at 23, RBOPs at 30, 35, Major RBOP at 40 Caution, FNSR nearing short term overbought.
GBLX-Buy sig at 26, RBOP at 32, Major RBOP at 35
GSTRF-Buy sig at 6 1/2 and 7 1/2, RBOP at 13, Major at 15
HATH-Buy sig at 5 7/8, RBOP at 13
HEAR-Buy sig at 5, RBOPs at 7, 10, 15, 21
HLIT-Buy sig at 22, gap at 36, just broke long descending tops line from 150
HLTH-Buy sig at 15, RBOPs at 22, 30
IATV-Buy sig at 15, RBOP at 20
IBM-Buy sig at 103, RBOPs at 110, 116, 121
IFCI-Buy sig at 15, RBOPs at 20, 26, 29, 37
IFMX-Buy sig at 4 1/2, gap at 7, RBOP at 10
INPH-Buy sig at 13 1/2, next RBOP at 28
INSP-trendline support at 43, RBOP at 60
ISLD-Broke downtrend at 42, aggressive buy, RBOP at 58
JDSU-Buy sig at 100, gap at 111, RBOP at 130
JNIC-Buy sig at 25 and 31, RBOPs at 35, 45, 65. Caution, JNIC appears short term overbought.
LCOS-Buy sig at 44, RBOP through declining tops at 46, RBOPs also at 57, 66, 71
LPTH-Recent buy sig at 39, RBOPs at 42, 48, 57, 60, 70
LU-Buy sig at 56, RBOPs at 65, 70, 75
METHA-nearing trendline support at 42 1/2. Possible entry point with a close stop.
MMPT-Buy sig at 12, RBOPs at 19, 23, 25, 35
MOT-Buy sig at 30, RBOPs at 42, gap 43, RBOPs at 45, 53
NBCI-Buy sig at 11, RBOPs at 18, 29, 40, 51, 60
NETP-Buy sig at 16, RBOPs at 20, 28
NT-Buy sig at 53 and 66, RBOPs at 57, 63, 70, 73
NTRO-Short term overbought, trendline support at 62
NXTL-Buy sig at 57, RBOPs at 68, 83
OMKT-Speculative buy sig at 8 3/4, gap at 12, RBOP at 15 and 20---use extreme caution with this one!
PALM-Buy sig at 30, RBOPs at 42, 50, 60
PSFT-buy sig at 15, nearing overbought, support at 20 or exit
PSIX-buy sig at 20, RBOPs at 23, 30, 35
PUMA-buy sig at 24, RBOPs at 30, 40
QCOM-buy sig at 55, Major RBOP descending tops line from 160 broken at 60, RBOPs at 74, 85
QQQ-buy sig at 94, RBOPs at 100, 108, 120
RSAS- nearing trendline support at 68
SCMR-buy sig at 110, support at 121, RBOP at 155
SCON-spec buy if support at 29 holds
SVNX-buy sig at 39, RBOPs at 43, 50, 60
TFSM-buy sig at 14, RBOPs at 16, 21, 25, 31
TGNT-buy sig at 22, RBOPs at 31, 41
VNTR-buy sig at 17, RBOPs at 27, 33, 37
WCAP-buy sig at 13, RBOPs at 15, 20
WCOM-buy sig at 39, RBOPs at 44, 46, 53, 55
WFII-buy sig at 50, RBOPs at 58, 69, 95
WRLS-buy sig at 11 1/4, RBOPs at 12 1/2, 15, 20, 25, 32
Short term neutral or down:
ADIC-may reverse to upside at any time but chart indicates it wants to test 12. Strategy--aggressive speculative buy now or set buy stop above descending tops line to buy in on new strength.
CICI-weak but trendline support is close, at 3 1/2.
EGAN-topping out short term unless it moves strongly back above 15.
GNSL-Topped out, broke uptrend at 25, has minor support at 18, major support at 11. Like all ipo bios, though, this can change directions quickly.
MSFT-mild downtrend, may fill gap at 75, wait for confirmed bottom or major RBOP at 83.
PBSC-buy sig at 17, falling to support at 21 1/2...caution, appears short term overbought.
IONN-"sleeping with the fishes" at 3. I still have some shares from about 6...and I don't know why!
PNLK-this "fish" just woke up!
RDOC-still sleeping, but....will continue to watch for buy.
Hope everyone had a great weekend. I think we'll have a very, very busy and profitable week. I'll be looking especially for those plays that offer good percentage gains as opposed to just sheer dollar gains and I'll be taking profits when targets are reached.
For example, JNIC is a near 100% gain for me as it went from 25 to almost 50. To get another 100% from JNIC would require it to rise to about 100 from here which I don't think it will do as quickly or as easily. So I take some profits, keep some "free" or heavily discounted shares and put some of the money to work elsewhere. This allows me to exploit other opportunities while reducing risk (JNIC could now fall to zero overnight and at least I will not have lost anything). Having stepped on a few "landmines" in recent months, reduction of risk has become a more important factor in my investing and trading strategies (something Rande has repeatedly warned me about, btw).
See y'all in the trenches...and don't forget to check over my work and tell me what you think. I'll respond as quickly as possible.
Best Regards, Mark Konrad |
