Tuesday, February 26, 2008

Charts to Watch

After going through my scans, here are some charts to keep an eye on:

Long: NTES, TKC, PHM, PCLN, MDC, LEN

Suprising to me that I found three housing charts that are looking good on a short-term basis. The housing sector is top gainer over the last week according to my Telechart scans. I don't know that I will be going long any of these - my conscience may not allow it and they are not IBD-type stocks - but they do look bullish. Not a lot of new charts here because most of what I was watching are now a bit extended or need to rest in order to be candidates (i.e. the oils and metals) TKC could use rest as well but might just continue higher based on today's volume. NTES has not given any of its gap back the past two days and if it gets over $21, would likely run higher.

Short: DRYS, FWLT, CAS, SJR, TBSI, CMI, FLR, SLAB, NOV, SLB, NSR

I am not planning on taking any of these shorts due to way the market looks right now, but I always want to be prepared just in case the unexpected happens and we totally breakdown here. The past three days has put these stocks back into position to be shortable with resistance nearby. DRYS and FWLT had big volume drops today and if we do get weakness over the next day or so, I would guess they are headed lower. FWLT in particular looks done - I was stopped out of this short at $75 but the weak-volume rally caught up to it today.



1 comment:

Stock Speculator said...

A disciplined speculator never buys a stock under the 200 day moving average. Your conscience seems to know whats up, stick with it, it'll keep you from breaking your rules and losing capital on silly mistakes.