May have to hold for more than a week to get benefit. Actual buy price will depend on stock behavior and market conditions at the time of buying. Check news, etc. before buying.
2/23
APAC
ATS
BLSI
CTIC
CTRA
EQTX
INTC
LJPC
MZ
NETC
OSTE
REMC
SMD
SQNM
SSYS
TG
VLGC
APAC - great find; might be good LT play also!
ATS - ditto.
BLSI - ditto. Very high weekly volume. Would wait another day or two to make sure it stopped dropping.
CTIC - not sure if it reached the bottom - would observe for a few days.
EQTX - seems overbought & ready for a bounce. The longer I look at it, the more I like the chart - drew rising triangle over past 2 days (intraday). Price target would be the upper BB / MA50 (1.2). I put an alert on it, since it may rise quickly once it starts (probably shorted heavily).
INTC - my gut feeling is that INTC may bounce back to the MA50 (31.4 - small gain for a swing trade), but then drop further into the 27-28 range (MA200 & 32% fib), especially if the overall sentiment remains poor. The chart is close to completing a cup & handle formation on the weekly chart, though, with resistance at 34.5, so this may also be a good LT play.
LJPC - falling knife entry. I'm worried it may drop all the way to 3 before reversing. Put an alert on it.
MZ - I like it.
NETC - has multiple support at 2.0 (MA200, 62% fib, prior S/R). I'd wait for some technical confirmation of reversal before buying. Volume is still relatively low.
OSTE - not sure if it'll bounce quickly or just move sideways for a while
REMC - may make a dead cat bounce. Held up pretty well during on overall weak Friday. I'm always worried that there are plenty of eager sellers after such a large gap down (-20%), who may limit the bounce.
SMD - falling knife, not sure if it hit rock bottom yet.
SQNM - another falling knife entry; may (or may not) bounce. Will watch for a day or 2.
SSYS - dropped right through the MA200s. High volume suggests it may have found a bottom, but next solid support is at 16.5 (62% fib).
TG - totally oversold; ready for bounce. Would watch a day or 2.
VLGC - another falling knife entry. May retest the 3.0 mark before bouncing.
Thanks, for these great picks, Art!
I tend to like TG and SSYS.
I go for the really beaten down stocks but sometimes get burned buying them when they go down much further (SCLD is one of my worst recent mistakes).
Sometimes stocks are beaten down simply because people holding them are tired of waiting on them to go up, and thus sell out. These are jewels to buy. You don't want to use a stop loss sell order here because if it falls further after you buy in, you want to buy more and not sell.
Sometimes stocks get beaten down because smart investors see poor earnings eport coming. If you buy one of these, and then the poor earnings report comes out, you take a beating. This is a good argument for using stop loss sell orders after you buy, and for paying careful attention to fundamentals and news before you buy.
ABMC 1.35
KVHI 15
LENS 6.1
MED 3.9
I like these. Comments?
ABMC - 1000 @ 1.37
EQTX - 1000 @ 1.00
ARTG - 1000 @ 1.47 Not on your list but it looks good to me!!!!!!!
Comments Welcome. Thanks Art- TraderTom and everyone.
NFLX (temporary drop over after split, strong stock, oversold in an uptrend)
BKHM
MZ (you already know why!)
DCEL (Dead Cat bounce play, already made a nice profit on the first day, sold out, now waiting to re enter)
However, you never know if dollar is strong tomorrow, then this is my short play.
WTZ (silver stock, nicely overbought, with a strong dollar I'll short it if it violets 30-min low)
I know you guys normally don't short (because you don't say you do). But if Nasdaq breaks through 50 MA (God forbid!) then these 2 are my short plays for general market.
WDC (I'll consider shorting on a bad general market open, and only if the stocks trades below 10.71, overbought at resistance )
IPAS (confirmed downtrend, finding a gap resistance)
Just keeping my options open! Let me know if you guys like it.
[This message has been edited by azircon (edited February 22, 2004).]
quote:
Originally posted by stockguyDD:
hey art... ive been following BLSI for a long time now and found it interesting that you posted about it... for what reason do you see potential here... any1 else feel free to answer
I remember trading BLSI couple of months back. Not sure what would be good entry, but it has REALLY REALLY STRONG SUPPORT at $1.15
quote:
Originally posted by stockguyDD:
hey art... ive been following BLSI for a long time now and found it interesting that you posted about it... for what reason do you see potential here... any1 else feel free to answer
BLSI is becoming oversold and showed strength last Friday.
Does this strength indicate an upswing?
Maybe.
Could it trade sideways here?
Sure.
Could it drop as low as 1.15?
If it did I would buy all that I could buy.
It is on my pick list as becoming oversold and worth watching.
EQTX -2yr downtrend - 2yr consolidation - Over 1 mil. reported insider buying at these levels. Should be big!
Next I like ATS - 5yr consolidation and there is a very nice triangle formation about to end.
finally some good buys again!
Good luck guys!
-Greg
GAIA is another stock in consolidation for nearly a year, and the finances are pretty solid, IMHO. I just got some shares at about 5.40.
LUV also seems to be oversold at current levels ...
[This message has been edited by TraderTom (edited February 22, 2004).]
Thanks for sharing your excellent thoughts and picks.
That is how we all help each other here.
quote:
Originally posted by azircon:
Great picks guys! I'll be watching 4 stocks very closely tomorrow. If Nasdaq bounces off its 50MA then these are nice long entries. I like relatively high vol stocks (above 1 million daily volume).NFLX (temporary drop over after split, strong stock, oversold in an uptrend)
BKHM
MZ (you already know why!)
DCEL (Dead Cat bounce play, already made a nice profit on the first day, sold out, now waiting to re enter)
However, you never know if dollar is strong tomorrow, then this is my short play.
WTZ (silver stock, nicely overbought, with a strong dollar I'll short it if it violets 30-min low)
I know you guys normally don't short (because you don't say you do). But if Nasdaq breaks through 50 MA (God forbid!) then these 2 are my short plays for general market.
WDC (I'll consider shorting on a bad general market open, and only if the stocks trades below 10.71, overbought at resistance )
IPAS (confirmed downtrend, finding a gap resistance)
Just keeping my options open! Let me know if you guys like it.
[This message has been edited by azircon (edited February 22, 2004).]