There are a LOT of new longs tonight but unless you run a porftfolio over a few hundred million there really is not too much too pick from here. I suggest that all newbies ignore EVERYTHING that has the word speculative in it. While this market remains in a very choppy overall environment it should become clear to everyone that making money just is not easy. Now, I promise you all that one day makign money will become much easier. If you study 1985 and 1986 in the SP 500 you will see that a TON of stocks made huge 200% to 500% gains, in 1991 the Nassy rallied 67% producing tons of 300% to 600% winners, in 1999 we had 500% to 1000% winners EVERYWHERE, and in 2003 we even had the almighty TASR that produced a 2500% return for me at the top. So if you can stay patient and not lose your capital in markets like this you can come out a champion. I am not going to tell you what to buy as I am not a lemming maker. However, I have posted over 50 charts of some of MY PERSONAL BIGGEST WINNERS EVER!! If you have studied those you will know exactly what I want to see in my longs for me to load up. First they must be as green as the moutains on Maui and second they must have the fundamentals that only a Featured type of stock can produce. So if it is has the fundies to make it a Featured stock and the color of the chart is as green as AEHR was (can you believe that stock failed??????!!!!!–shocking and proof the market was not ready to fly). The next time you see an AEHR chart setup on 6/3 like it did, and instead of having a 6/12 moment where the stock fell 8.6% it flies 25% on higher volume while BOP remains max green then YOU KNOW it is time to be loading up on your FLIR, ACM, XCO, ANSS, IPI, and PDO beautiful setups. For now, since the Russlell rebalancing played such an important role in today’s volume I must recommend that all longs stay relatively smaller and that you do not load up on anything. However, we still have some pure Featured beauties and volume or no rebalancing volume I don’t see the harm in buying a lot of it. To make it easier for you guys I will make this pretty clear. For the pros, as you all know, it is all good. For the newbies, you need to avoid completely IDRA, BCON, PEGA, PLCE, ABP, and CAEI. PLCE might be the only one in here that is questionable as it is a $36 dollar stock which shows you quality. But the other speculative stocks I listed are trading under $20 a share. Now, since we know a Mercedes, Lexus, and Bentley cost what they do, why do you think the other stocks I am telling you not to buy are so cheap? You get what you pay for. These stocks all show some sort of real growth that could make them all great stocks (mutual funds are getting involved in all) but still we need to make big money now and the only way to do that is by going long quality. So my suggestion to all the newbies is to stick to the winning Featured quality longs like CFX, GLRE, V, ANSS, and ACM. Trust me, this is where most of my professionals, including me are going to be focusing their money; you should be also. Be very careful out there, remember to keep the buys small since volume was probably rebalancing related, and enjoy your weekend. Hopefully next week will be just as good as the way this week ended. And not as bad as how it started. ALOHA!
new Featured long positions: CFX CAEI
CFX is breaking out of an ascending base, on very strong volume. Cut your final loss with a close below the 23.76 level, if the stock does not move higher immediately.
CAEI is putting in a very bullish intraday candlestick pattern, closing at the HOD, and is bouncing off the 50 DMA, on very strong volume. Cut your final loss with a close below the 50 day moving average, if the stock does not move higher immediately.
new semi-Featured long position: GLRE
GLRE is putting in a very bullish intraday candlestick reversal pattern, closing at the HOD, and is breaking out of a two-and-a-half week tight flat base pattern, on extremely strong volume. Cut your final loss with a close below the 22.04 level, if the stock does not move higher immediately.
new speculative Featured long position: V
V is breaking out through the 50 day moving average, on very strong volume. Cut your final loss with a close below the 78.02 level, if the stock does not move higher immediately.
new speculative long positions: IDRA BCON
IDRA is bouncing off the 50 day moving average and is breaking out from this long flat base, on extremely huge volume. Cut your final loss with a close below the 50 day moving average, if the stock does not move higher immediately.
BCON is breaking out of a nice DEEP cup with handle pattern, on extremely strong volume. Cut your final loss with a close below the 1.77 level, if the stock does not move higher immediately.
adding to my existing Featured long positions: ACM ANSS
ACM is bouncing off the 50 day moving average as it comes out of a nice round base, on extremely strong volume. Cut your final loss with a close below the 50 day moving avergae, if the stock does not move higher immediately.
ANSS is putting in a tight bounce right off the 50 day moving average, on extremely strong volume. Cut your final loss with a close below the 50 day moving average, if the stock does not move higher immediately.
adding to my existing speculative long positions: ABP PEGA PLCE
ABP is putting in a very bullish intraday candlestick reversal pattern and is bouncing right off the 50 day moving average, on extremely strong volume. Cut your final loss with a close below the 50 day moving average, if the stock does not move higher immediately.
PEGA is bouncing off support within a handle of a nice cup with handle pattern and appears ready to breakout as it is coiling on extremely strong volume. Cut your final loss with a close below the 12.86 level or the 50 day moving average, if the stock does not move higher immediately.
PLCE is bouncing off support near the 50 day moving average, on above average volume. Cut your final loss with a close below the 50 day moving average, if the stock does not move higher immediately.
With such a down market , I have sold the laggards and kept only 3 of your stocks. Flir,acm and dr. I took profits mind you a little late with titn and ipi and have lost some but profitted some back. Despair may be a day away but I like your system and the 3 up have incredible volume with blue sky ahead. u still the man Josh
Wrong chart for ANSS…you have GLRE’s chart.
New Longs : CFX , CAEI , GLRE , V , IDRA , BCON
Adds: ACM , ANSS , ABP , PEGA , PLCE