The current 9mo chart for ION Geophysical Corporation [[IO]] displays exactly what I look for when I screen for stocks. Notice all moving averages below price with a nice bounce of the 200 day moving average. I am long as of 2.82, and will place my stop right underneath the 200 day moving average.
The man, the myth, the legend, Mr. Henry Fool, aka. the biotech king, seems to think DVAX goes higher. I happen to agree, take a look at this flag developing:
The chart of [[DENN]] is a great example of what you want to look for in finding a stock before an explosive move.
One of the most important things I look for before entering a trade is where the moving averages are located. In the case of DENN, they are all trading below price, this is something I want to see if I am thinking about buying– this provides great support for the trade.
Another thing I see in [[DENN]] is this nice flag pattern developing:
A breakout in the flag pattern would also spark a move above it’s 61.8% retracement level on a 9mo chart.
And, when you zoom out a little further to a 5 year chart, it also shows the stock stuck right below it’s 23.6% retracement level. So again, a breakout in the flag pattern would also cause a break in it’s long term fibonacci level
How will I play it? Simple, watch for a breakout in the flag pattern supported by volume. This is a recipe to find “BTFO” stocks.
Comments »Monday:
Tuesday:
Wednesday:
Thursday:
The truth is, as much as you guys dislike Mr. Kneale, he nailed the market for a few hundred S&P points. It’s funny to see bloggers bash the guy when the market continues to go up on a daily basis. I know, I know, it’s not the direction of the market, it’s his actual call on the recession being over. Understandable, but this site is about making money, and if you bet on the side of Dennis then you’re rolling in coin.
However, I do have a small beef with Mr Kneale, he said that all the bloggers were bearish and calling for the end of the world. Dennis, do you read iBC? The Fly nailed the turn in the chips as well as the market. So next time you decide to generalize all financial blogs, make sure you exclude iBC.
One more note Mr. Kneale: Anybody can make a general call on the market, how about you prove your credibility a little bit more and give us a few picks. I’ll even go head to head with one of your picks, if you win, well, you name the terms.
Comments »Before I get into a few names, I would like to warn viewers that these stocks are not investments, rather vehicles we are looking to trade to bank coin.
If you’ve been asleep at the wheel, then you probably missed powerful moves in stocks like Fifth Third Bancorp [[FITB]] , The South Financial Group [[TSFG]] , Capitol Bancorp Ltd. [[CBC]] , just to name a few.
Today, we caught Huntington Bancshares Incorporated [[HBAN]], before the breakout, and I think the stock still has a lot of juice left in the tank.
So who’s left? Well, with the help of the all mighty PPT, I decided to screen the regional banks. The stocks below represent high probability technical setups that can be bought on strength. Remember, you want to see volume come in once the resistance level is broken, to confirm the move. Here are my results:
List your favorite in the comment section.
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