This is a large amount of longs. For those that are new and do not understand how money management works, you need to know that I AM NOT LOADING up on everything you see me going long tonight. I recommend that newbies ONLY take the Featured stocks. DO NOT PAY ATTENTION to anything else. Professionals that understand how to run money, you know what to do. Nothing here has that “perfect” form to it but CRY, DR, TOWN, and IIVI should all be VERY STRONG stocks with the charts and fundamentals.
I am running out of time so I am just going to rank them and trust that those who are NOT PROFESSIONALS will just be careful. I will fully update this when I get back after late-night sushi (I don’t drink, so I will be awake). But for now I only have time to rank: CRY TOWN DR IIVI TACT LUK ESLT RBCAA GST.
Remember, I use weekly charts FIRST then daily charts. So when you are looking for these chart patterns START with the weekly THEN go to the daily. Also do NOT forget to use LIMIT ORDERS primarily unless volume is over 500,000 daily and then market orders should be OK.
new Featured long positions: DR IIVI
DR is breaking out of a double bottom pattern, on very strong volume. This very short consolidation is just part of the uptrend that this stock is in. This appears to be a better point to get long than on 5/19 when I highlighted it but passed on it. Still this is a strong breakout. Cut your final loss with a close below the 27.07 level, if the stock does not move higher immediately.
_1.PNG "dr (Large)_1.PNG")
IIVI is breaking out above the 50 DMA and beginning a breakout to a new 52-week high, on strong volume. Cut your final loss with a close below the 50 DMA, if the stock does not move higher immediately.
new speculative Featured long positions: ESLT RBCAA
ESLT is breaking out of a saucer with short handle pattern, on strong volume. Cut your final loss with a close below the 59.49 level, or the 50 DMA, depending on your risk tolerance, if the stock does not move higher immediately.
RBCAA is breaking out of a three-week tight base pattern, on extremely strong volume. Cut your final loss with a close below the 23.07 level, or the 50 DMA, if the stock does not move higher immediately.
_1.PNG "rbcaa (Large)_1.PNG")
new speculative long positions: TOWN TACT LUK GST
TOWN is putting in yet another very bullish intraday reversal and closing at its HOD, on extremely strong volume and with BOP staying max green. Cut your final loss with a close below the 18.80 level, or the 18.58 level, depending on your risk tolerance, if the stock does not move higher immediately.
TACT is bouncing off the extremely strong support right near the 50 DMA, on extremely strong volume. This is what I asked for–I did ask for BOP to max green though. Cut your final loss with a close below the 50 DMA, if the stock does not move higher immediately.
LUK is bouncing off the 50 DMA, on very strong volume. Cut your final loss with a close below the 50 DMA, if the stock does not move higher immediately.
GST is breaking out of a shrot base on base pattern, on very strong volume. Look at the sales growth and the EPS hast turned positive from negative. That is why this is moving. Cut your final loss with a close below the 1.74 level, or the 50 DMA, whichever one comes first, if the stock does not move higher immediately.
_1.PNG "gst (Large)_1.PNG")
adding to existing speculative Featured long position: CRY
CRY is bouncing off the 50 DMA, and closing at the HOD–a penny off today, big deal–on very strong volume. This comes after a low volume pullback, that was preceded by a higher volume rally. All the while, BOP was green. Beautiful chart but I wished the fundamentals were a little bit stronger to have really loved it. Max green BOP, once again, would have helped. Like I keep saying, nothing is perfect. We take what we can get, for now, while the market has low volume. Cut your final loss with a close below the 50 DMA, if the stock does not move higher immediately.
