Sunday, January 9, 2011

Stock Market Video - Long Setups for the Week of January 10, 2010

Hi, traders.  This market may top tomorrow.   It may top in two weeks.  It may top in two months.   I have no idea when it will top, but as of now, it looks like it wants to keep going higher, and as such, you should be continuing to look for longs until that caution signal pops up.   The two videos below share some ideas for long plays this week.

Part one deals with long setups that have had a period of consolidation and would be buy candidates on a move of 3-4% or higher on heavier volume.  My scans showed a LOT of stocks that are in consolidation patterns where they have not had any big moves over the past three or four weeks.   This should bode well for further upside in the overall market, but we'll have to see.  This video deals with larger stocks that are more well-known.
Part two goes over some smaller-cap type names that are worth watching.  These are typically the ones I pay more attention to and trade more often because they can move fast.  You also have to watch them more carefully as well.

Last week's "top 11 stocks for 2011" had some nice winners so far but also a few losers.  Only two of those losers flashed potential buy signals (MKSI and ES), and with prudent stop loss levels, the losses would have been reduced significantly in most cases.  There was really no reason to enter the others (LEDS, EXPR, LIWA) so really there should be no losses there.  Here are their performances for the past week (sorted by 5 day percent growth in Telechart)...

JKS - +16.90%
YOKU - +11.11%
AOSL - +10.68%
CCME - +10.35%
GMXR - +8.7%
REDF - +5.29%
ES - -2.87%
MKSI - -3.47%
LEDS - -3.99%
EXPR - -4.47%
LIWA - -6.14%

Hope you find the video helpful and informative.   As always, feel free to email me with questions or comments - I enjoy hearing from my readers.

To see the videos in HD, please click "720p" and "Full Screen" on the video bar - HD will be available after processing.


Anonymous said...

heads up- VRGY is the target of a takeover proposal, so that is affecting the chart/pricing - just be aware, it's an arbitrage situation so not really a "true" chart reading

Mac said...

Good to know - thanks for the heads up.