Allstocks.com's Bulletin Board: Art's picks for Thursday

This is topic Art's picks for Thursday in forum Swing Traders at Allstocks.com's Bulletin Board.

To visit this topic, use this URL:
http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/3/t/002458.html

Posted by Art on :

ART'S PICKS - OVERSOLD STOCKS THAT COULD MOVE UP SOON

May have to hold for more than a week to get benefit. Listed at interest price for buy consideration. Low interest price means the price is above recent support and may well drop to that support point. Actual buy price will depend on stock behavior and market conditions at the time of buying. Check news, etc. before buying.

2/5

AUGT 16.5

AXL 38.5

MNDO 4.95

PACR 18.9

RCG 1.7

SCLD 3.4

TEU 18

WEDX 2.87

WORK 4.8

Posted by TraderTom on :

I'm glad your screener is working again, Art. Here's some quick feedback:

AUGT - it dropped right to the 38% Fib of the large upswing, so may find some support.

MNDO - I like it; looks like it found support at 5.

PACR - seems to be on the upswing, but potential gain seems limited to about 5% (EMA50 at $20).

RCG - I like it, and might buy it in a better environment. Over the past 3 days, it's been drawing an ascending tringle on the hourly chart, though, and it the bottom may drop out tomorrow.

SCLD - I like it also. Dropped right to multiple support (EMA200, 50% fib, prior S/R) - perhaps it'll bounce off.

TEU - seems totally oversold on high volume.

WEDX - falling knife entry - don't have the guts to do it - may fall further, IMHO.

As a general comment, I noticed that "support" and "broken" have been synomymous a lot over the past days, so I'd be very careful

Posted by Art on :

Great observations.

Thanks.

I like WEDX as a nano play and don't care if it doesn't go up immediately, or goes down more, by the way. It will return.

Posted by TraderTom on :

Thanks for the tip on WEDX, Art. I just got in at 2.82. Will buy more if it drops more.
===
T2