Monday, December 30, 2013

Loads and Loads of IPOs (Setups That Is)

One more day of trading left in 2013 and the overwhelming theme for me recently has been the IPO market.  Perhaps this is all due to the overwhelming success (the last two days not withstanding) of Twitter, but my scans have seemingly been overpopulated by IPO bases for a few weeks now.  I have traded some, but haven't held them as I am still wary of a correction to start the year, something I will discuss in my next post on Wednesday.   I really don't know if all of these bases I am seeing in new names is a good thing or a sign of froth.  The biggest problem with most of the charts below are that they are very, very thin and can trade in spastic ways.  

This is a pretty comprehensive list of recent IPOs that are worth watching going forward.   If they aren't on your watchlists, they probably should be, if for nothing else to see how they act.

ATHM
 BIND
 BNFT
 CGIX
 CHGG
 DOC
 FEYE
 FUEL
 EIGI
 JGW
 MKTO
 OMED
 RCPT
 SFXE
 TWTR
 WIX
 WUBA
 XOOM
 YUME
 ZU
All charts from TC200, Courtesy of Worden Brothers, Inc.

If I see lots of these names moving higher AND acting well after potential breakout attempts, then I have to assume that the market wants to still move higher.  If I see lots of fakeouts with these names or patterns failing, I'll take that as a sign that the market is indeed ready to rest.   We shall see.  Best of luck in your final trading efforts of the year. 

1 comment:

Jay Jay said...

That was a lot of work to post. Thanks for the great job. Jay