I love most of the new longs tonight as they are all close to the 50 day moving average, minus ALTH, and those are my favorite setups. I would not be cocky here as the market is clearly not in a bullish phase as the market was having a great intraday session until the last hour when it gave up the gains and turned red. This is bearish action and is not the action I like to see in a market that I want to get very long. I like how bearish it is out there but the charts are not lined up yet telling me to go all-in. When that time comes I will let you know. But for now the ANSS type charts that are right at the 50 day moving average are the stocks that I will be putting more money in than the other candidates. While the market remains below the 50 day moving average, prepare yourself for the time when it is ready to rally again by studying my ‘past big winners.’
new Featured long positions: ANSS UTHR
ANSS is retaking the 50 day moving average breaking out above it, on extremely strong volume. Cut your final loss with a close below the 44.02 level, if the stock does not move higher immediately.
UTHR is breaking out of a very long saucer with handle pattern and bouncing off support near the 50 day moving average, 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 speculative long positions: ALTH GOAM
ALTH is breaking out of a tight continuation pattern from an ascending base, on very strong volume. Cut your final loss with a close below the 8.81 level, if the stock does not move higher immediately.
GOAM is bouncing right off the 50 day moving average and breaking out from a flat base pattern, on strong volume. Cut your final loss with a close below the 6.90 level, if the stock does not move higher immediately.
adding to existing speculative medical long position: VRUS
VRUS is bouncing right off the 50 day moving average and breaking out of a three month flat base pattern, 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.
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