“Charts Are For Idiots” Part 59

If you caught my short setup post from last week then you might be rolling in coin, but judging by the comments on that post, it seems many just chose to ignore the post, like I’m some internet junking who has all the time in the day just to post random shit.

I highlighted 3 picks that had a high probability of breaking down, all of which popped up on my mo-mo short screen in The PPT last week. I took 2 out of the three trades, both for big wins, but was it just the chart that was the final decision to take the trade?

Answer: No.

American Superconductor Corporation [[AMSC]] & STEC, Inc. [[STEC]] both had negative notes come out leading up to the initial breakdown. The negative notes, coupled with the almighty PPT, along with the beautiful looking charts, gave me the confidence to take the trades.

Here are my notes on STEC listed in the user note section inside The PPT (read from bottom to top)

STEC was MURK’d after the close and my puts will pay dividends.

Let’s move on to American Superconductor Corporation [[AMSC]] , another huge win, only one I took profits on a little too early. I will post the chart again today so you can witness the power of the bear flag:

Let’s review Henry’s epic win [[PEIX]] to drive home a point. It was not just the chart that gave him confidence to hold, it was the RBOB prices that had him convinced the stock would breakout.

So what am I really saying here? First, join The PPT. Second, Don’t just pay attention to the chart, pay attention to other factors that could be a catalyst to a breakout/breakdown.

__________________

Here is an update on the brackets. It looks like Actionable is showing that he is a contender with his pick in [[NVLT]] .

Long live The PPT and the 3.00 top!

Comments »

Here is a screen I have saved inside The PPT that screens for stocks that have room for further downside. This is my starting point when looking to short stocks, here are today’s results:

Note: PPT members click here and to save Mo-Mo short screen to your user profile.

The overall hybrid reading is 2.40, which leads me to believe we have further downside. We want to get aggressive on the buy side in the low 2.20s, but not until then. Here is a current chart of the S&P 500:

Comments »

First off, let me take my hat of to Henry for his ongoing call on [[PEIX]] . A lot of money was made in The PPT, and we salute you sir.

The March Madness stock tournament is off to a great start. The north looks to be the toughest division this year, while the South looks to be the weakest (Surprised?).

In the North, Drewdog take the #1 spot with his pick in [[PEIX]] , up a cool 18%.

In the South, Shrooms takes the lead with a Chinese printing company [[DYP]] .

In the West, Chris takes the lead with [[LTXC]] , I like this semi play.

In the Eest, Blamegame comes in at the number one spot with his pick in A-Power Energy Generation Systems, Ltd. [[APWR]] .

Here are an update on the brackets.

Comments »

American Superconductor Corporation [[AMSC]] was a stock I highlighted last week as a possible short setup. The stock was flagging near the 200 day moving average, which is exactally what we are looking for as the moving average did not create a bounce (bearish). The stock broke down today, and I covered, though probably a bit too soon.

Here are some more setups I have on my short watchlist: CSIQ, FSLR, FIG, FSYS, FUQI, GT, LAZ, PALM, SNDA, & SOHU

Comments »

The futures are looking favorable for the whistle of March Madness. My pick is Research In Motion Limited (USA) [[RIMM]] and I’m looking for an easy 10 points over the next few weeks.

_______________

Here are the finalized brackets, everyone check your pick to ensure accuracy. The brackets were setup up on a first come, first serve basis, with Fly on top of the North and RC on top of the South. Just a quick reminder of the rules: You will face your opponent for a week straight, the highest % score will advance to the next round. Scores reset each week and do not carry over, so every weeks starts as a level playing field. Should be another great year, thanks to everyone who signed up.

Top pick: Research In Motion Limited (USA) [[RIMM]]

Comments »

Monday:

• [[CAR]]
• Flowserve Corporation [[FLS]]
• Genco Shipping & Trading Limited [[GNK]]
• James River Coal Company [[JRCC]]
• MercadoLibre, Inc. [[MELI]]
• [[JWM]]
• salesforce.com, inc. [[CRM]]
• Saks Incorporated [[SKS]]
• Sears Holdings Corporation [[SHLD]]
• Steven Madden, Ltd. [[SHOO]]
• TASER International, Inc. [[TASR]]
• Texas Roadhouse, Inc. [[TXRH]]
• True Religion Apparel, Inc. [[TRLG]]

Tuesday:

• Barnes & Noble, Inc. [[BKS]]
• Bill Barrett Corporation [[BBG]]
• [[BSCI]]
• Century Aluminum Company [[CENX]]
• DreamWorks Animation SKG, Inc. [[DWA]]
• GrafTech International Ltd. [[GTI]]
• [[M]]
• Orient-Express Hotels Ltd. [[OEH]]
• Stone Energy Corporation [[SGY]]
• Target Corporation [[TGT]]

Wednesday:

• Cameco Corporation (USA) [[CCJ]]
• Clearwire Corporation [[CLWR]]
• Dana Holding Corporation [[DAN]]
• First Solar, Inc. [[FSLR]]
• Garmin Ltd. [[GRMN]]
• Petrohawk Energy Corporation [[HK]]
• The TJX Companies, Inc. [[TJX]]
• Transocean Inc. [[RIG]]
• Wynn Resorts, Limited [[WYNN]]

Thursday:

• [[CDE]]
• Continental Resources, Inc. [[CLR]]
• Fluor Corporation (NEW) [[FLR]]
• Foster Wheeler Ltd. [[FWLT]]
• The Gap Inc. [[GPS]]
• OmniVision Technologies, Inc. [[OVTI]]
• SandRidge Energy Inc. [[SD]]
• Sociedad Quimica y Minera (ADR) [[SQM]]
• Southwestern Energy Company [[SWN]]
• The Steak n Shake Company [[SNS]]
• Vonage Holdings Corp. [[VG]]
• W&T Offshore, Inc. [[WTI]]

Friday:

• GMX Resources Inc. [[GMXR]]
• Hansen Natural Corporation [[HANS]]
• Petroleo Brasileiro SA (ADR) [[PBR]]

Comments »