I actually like both of the new longs tonight via fundamentals and technicals and have some positive comments for these longs. DTLK is beautiful and if this was a turning bull market with a confirmed Follow-Through Day (I am speaking of a real FTD; not the crap we have now), I would actually want to get very long DTLK. But there are some problems. First off the base leading up to the last base on base came with some red BOP in it and some distribution–It wasn’t completely quiet. The second problem is that the BOP was not max green the entire way from the July rally to the breakout today. There are a few max green BOP bars but not enough to be “perfect” and deemed “safe” for a “for sure” long. It still is very pretty and nice to look at for now. PMC is bouncing right off the 50 day moving average on extremely strong volume and if you combine the past three days together you can see a very bullish reversal on very heavy volume. Today’s move is very bullish but once again with the stock bouncing right off the 50 DMA with strong volume you would think we would have max green BOP on the move. But instead it is just green. This isn’t bad but it isn’t “perfect” and “perfect” is what I am looking for before I get extremely long this market. As I watch the Nasdaq hit resistance and watch China rollover to new lows, do I really want to be getting very long here? I just can’t. I don’t mind poking a few 100 shares but there is no way I am putting out a large line in either stock. DTLK is pretty and has some great growth and PMC is bouncing right off the 50 DMA but in this market I just can’t trust much without the chart being perfect. Great fundamentally sound companies are being hit left and right. Did you see STJ or AMED today? No thank you.
new speculative Featured long positions: DTLK PMC
DTLK is breaking out of a base on base formation, on very strong volume. Cut your final loss with a close below the 5.81 level, if the stock does not move higher immediately.
PMC 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.
Dear Josh !
i have been looking at “ORIT” for a long time.according to your system these stock looks super to me. it looks like it is ready to explode one of these days. but i would not buy it without your opinion?????.
Your verry patient pupil !
Erwin Rinder.
ORIT’s action yesterday wasn’t ideal and look at BOP, negative yellow BOP . Odds just aren’t in your favor at the moment with this one.