I am very happy to see that we have two stocks that could be good possible longs tonight. CPHL and OCN are not perfect by far as both have wild EPS and slowing sales growth but the chart is never wrong until it is proven wrong and right now both look like they are ready to run higher. The BOP, volume, and price are very strong recently in both of these stocks and with each breakout. I want to remind you that these are not perfect Featured quality longs. These are stocks that have minor fundamental problems but very strong technicals. So do not go out there and put your life’s savings in either one of these stocks. Instead, continue to step into this current market cautiously as the trend may be up on the short-term but on the long-term and intermediate term it is down and on the sub-intermediate term it is lateral. So we are not in the most bullish condition to “load up” on longs yet. Continue to be careful out there and obey my cut loss rules like they were the 10 Commandants.
new speculative longs: OCN CPHL
OCN is breaking out of a base on base on base pattern (June to now), on strong volume. Cut your final loss with a close below the 7.95 level or the 50 day moving average, if the stock does not move higher immediately.
CPHL is breaking out of a tight flat five-day base, on strong volume. Cut your final loss with a close below the 11.97 level, if the stock does not move higher immediately.
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