Mike's Top Picks!
- Thread starter michaelscott
- Start date
Let the buyer beware. Not all of what you see here comes true. Make sure to do your own homework...
I have another speculative pick where I am not entirely sure what is happening. Its a high risk stock.
That is ULBI. The chart is ugly and it appears this stock is in a bear market. So far I have covered all stocks in a bull market, but this one is a definate bear.
This is a low floater and a hedge fund has bought over 4 million shares on the dips in the last 2 years. It appears that most of the shares they bought are now trading at a loss, but they relentlessly keep on buying.
Back in February, the company reduced its outlook, warned of wider losses.
We are going to put this one on our monitor list. There will be time after the call to buy the shares.
This is a great stock to trade, but never to hold.
When the stock is in a wild uptrend, it usually stays that way for several days. When it hits a notable low, then it usually bounces up.
When its going down, it drops like a rock. Typical low floater.
If the conference call is good on May 3rd, then I suggest buying in the next day in the morning. Hold for a few days and then get out with cash in hand, dont look back.
The investors that got in too late or did not take profit back in October were burned.
I have another speculative pick where I am not entirely sure what is happening. Its a high risk stock.
That is ULBI. The chart is ugly and it appears this stock is in a bear market. So far I have covered all stocks in a bull market, but this one is a definate bear.
This is a low floater and a hedge fund has bought over 4 million shares on the dips in the last 2 years. It appears that most of the shares they bought are now trading at a loss, but they relentlessly keep on buying.
Back in February, the company reduced its outlook, warned of wider losses.
We are going to put this one on our monitor list. There will be time after the call to buy the shares.
This is a great stock to trade, but never to hold.
When the stock is in a wild uptrend, it usually stays that way for several days. When it hits a notable low, then it usually bounces up.
When its going down, it drops like a rock. Typical low floater.
If the conference call is good on May 3rd, then I suggest buying in the next day in the morning. Hold for a few days and then get out with cash in hand, dont look back.
The investors that got in too late or did not take profit back in October were burned.
One last post for the day.
Take a look at both AMR and AKAM as short candidates. There is a big head and shoulders on both charts. Sure wish I shorted AMR at 40...I think AKAM goes to 32 and AMR goes to 19.50.
AMR is the most obvious one and I want AKAM to get down a little further.
Take a look at both AMR and AKAM as short candidates. There is a big head and shoulders on both charts. Sure wish I shorted AMR at 40...I think AKAM goes to 32 and AMR goes to 19.50.
AMR is the most obvious one and I want AKAM to get down a little further.
I maybe wrong, but the ultrafunds are the only "leveraged" funds out there.
I think the market is going to rise significantly in the next 3 years with some corrections on the way. I say to get in on these funds on any dip and hold. Use it as a core holding rather then holding stocks. That will guarantee an excellent base return. Ultrafund midcap up 19% YTD, not a bad return. Thats like a 10 dollar stock going to 12.
Of course, the disadvantage is that any gap down in the market will be magnified by 2. Thats the one disadvantage. So you know there will be 1-2 dips per year in the market. You get in when the market dips.
I say there will probably be one correction this year most probably in September/October and then a rally into Christmas. There is a slight possibility it will come in June/July. The key is getting in the funds at the low and that requires waiting patiently for the dip for getting in.
I think the market is going to rise significantly in the next 3 years with some corrections on the way. I say to get in on these funds on any dip and hold. Use it as a core holding rather then holding stocks. That will guarantee an excellent base return. Ultrafund midcap up 19% YTD, not a bad return. Thats like a 10 dollar stock going to 12.
Of course, the disadvantage is that any gap down in the market will be magnified by 2. Thats the one disadvantage. So you know there will be 1-2 dips per year in the market. You get in when the market dips.
I say there will probably be one correction this year most probably in September/October and then a rally into Christmas. There is a slight possibility it will come in June/July. The key is getting in the funds at the low and that requires waiting patiently for the dip for getting in.
Update on some stocks that I am either in or tracking...
Solar stocks TSL, FSLR, JASO, SOLF.
The line in the sand is today for all of these stocks. If they cannot rebound from this point then they might have a funeral. TSL is right at the trend line, so is FSLR. JASO and SOLF appear that a handle has formed on the big cup. JASO appears slightly more bullish then SOLF. SOLF double bottomed at 15. I wouldnt attempt to fade any of these, but look in the morning for an uptrend in all of them. Wait for the trend up and then jump on. Getting in today is a *gamble*.
GROW
I would have to say to buy in now. There is a cup/handle on the chart. The handle retraced perfectly and bounced off of the 50 day moving average. This is very bullish and you should buy it today, set a stop at the 50 day moving average. There is a lot of room for this to go up. If it breaks past the rim of the cup then its up up up from here probably to the 40s.
WFR
I think its going to 45-50 before any bounce is realized. There is an old trend channel that I have a feeling it will revisit. I would wait until it hits 47 before touching it.
FTEK
Moving up as planned. However, my style isnt to hold into the conference call. Beware the conference call coming up soon.
JBLU
Moving lower. I would not consider buying this at all until there is a bounce. I expect it to go to at least 9.50. 9.95 right now.
AMR
My target is 19.50. Huge head/shoulders on chart.
NILE
If the conference call is bad, then short it. Wait for the downtrend, no fading here.
NYX
This has bounced twice off of the 40 WEEK moving average. Thats 40 WEEK moving average. I believe it should go to 95. Set stops because this security has been making lower highs.
The 20 WEEK moving average is at 92.89. Somewhere in the 90s will be the pivot.
BIDU
Lets wait a little longer until we get into BIDU. This chart make it self explanatory. Look at the weekly chart with Bollinger Bands and 40 week moving average. mid bollinger set at 20 week moving average. The chart tells me that BIDU tends to pivot around the 20 week moving average and is supported by the 40 week.
It could go two ways from here. The price could go up or it could consolidate for a time until it gets back to the 20 week. I say wait just a little longer to see where the price goes. Use the chart.
http://stockcharts.com/h-sc/ui?s=BIDU&p=W&b=5&g=0&id=p36893310587
RVBD
Look at our famous weekly chart with Bollinger Bands. The chart tells me that RVBD isnt a buy until it hits the 20 week average at 30.44. Thats about a buck and change down from the current price. Watch for the pivot. Note the top Bollinger at 34.14.
I bet you could put in your order right now. Place a buy order at 30.50 and then once it executes, set the sell order at 34. Too easy.
http://stockcharts.com/h-sc/ui?s=RVBD&p=W&b=5&g=0&id=p36893310587
The dollar
Watch the dollar. The Dow chart is tracking the dollar chart exactly. As the dollar grows weaker, the dow gets stronger. What happens if the dollar grows stronger? Looking at the dollar/euro chart, honestly, it appears the euro is at a top. Im not up on the fundamentals, but thats what it appears to me.
If the dollar strengthens, then money will be coming out of the DOW. Not sure where it will go, but it will flow out of the DOW.
IBM
I think you can get long IBM with a price target of 130.
http://stockcharts.com/h-sc/ui?s=IBM&p=W&b=5&g=0&id=p27763548468
Perfect cup/handle. It just broke above resistance. To 130 we go.
Solar stocks TSL, FSLR, JASO, SOLF.
The line in the sand is today for all of these stocks. If they cannot rebound from this point then they might have a funeral. TSL is right at the trend line, so is FSLR. JASO and SOLF appear that a handle has formed on the big cup. JASO appears slightly more bullish then SOLF. SOLF double bottomed at 15. I wouldnt attempt to fade any of these, but look in the morning for an uptrend in all of them. Wait for the trend up and then jump on. Getting in today is a *gamble*.
GROW
I would have to say to buy in now. There is a cup/handle on the chart. The handle retraced perfectly and bounced off of the 50 day moving average. This is very bullish and you should buy it today, set a stop at the 50 day moving average. There is a lot of room for this to go up. If it breaks past the rim of the cup then its up up up from here probably to the 40s.
WFR
I think its going to 45-50 before any bounce is realized. There is an old trend channel that I have a feeling it will revisit. I would wait until it hits 47 before touching it.
FTEK
Moving up as planned. However, my style isnt to hold into the conference call. Beware the conference call coming up soon.
JBLU
Moving lower. I would not consider buying this at all until there is a bounce. I expect it to go to at least 9.50. 9.95 right now.
AMR
My target is 19.50. Huge head/shoulders on chart.
NILE
If the conference call is bad, then short it. Wait for the downtrend, no fading here.
NYX
This has bounced twice off of the 40 WEEK moving average. Thats 40 WEEK moving average. I believe it should go to 95. Set stops because this security has been making lower highs.
The 20 WEEK moving average is at 92.89. Somewhere in the 90s will be the pivot.
BIDU
Lets wait a little longer until we get into BIDU. This chart make it self explanatory. Look at the weekly chart with Bollinger Bands and 40 week moving average. mid bollinger set at 20 week moving average. The chart tells me that BIDU tends to pivot around the 20 week moving average and is supported by the 40 week.
It could go two ways from here. The price could go up or it could consolidate for a time until it gets back to the 20 week. I say wait just a little longer to see where the price goes. Use the chart.
http://stockcharts.com/h-sc/ui?s=BIDU&p=W&b=5&g=0&id=p36893310587
RVBD
Look at our famous weekly chart with Bollinger Bands. The chart tells me that RVBD isnt a buy until it hits the 20 week average at 30.44. Thats about a buck and change down from the current price. Watch for the pivot. Note the top Bollinger at 34.14.
I bet you could put in your order right now. Place a buy order at 30.50 and then once it executes, set the sell order at 34. Too easy.
http://stockcharts.com/h-sc/ui?s=RVBD&p=W&b=5&g=0&id=p36893310587
The dollar
Watch the dollar. The Dow chart is tracking the dollar chart exactly. As the dollar grows weaker, the dow gets stronger. What happens if the dollar grows stronger? Looking at the dollar/euro chart, honestly, it appears the euro is at a top. Im not up on the fundamentals, but thats what it appears to me.
If the dollar strengthens, then money will be coming out of the DOW. Not sure where it will go, but it will flow out of the DOW.
IBM
I think you can get long IBM with a price target of 130.
http://stockcharts.com/h-sc/ui?s=IBM&p=W&b=5&g=0&id=p27763548468
Perfect cup/handle. It just broke above resistance. To 130 we go.
Stocks that I am monitoring, but not buying right now...
CHINA
http://stockcharts.com/h-sc/ui?s=CHINA&p=W&b=1&g=0&id=p18468873562
Big deep multiyear cup. Waiting for a double bottom at 8.17 and an established uptrend.
BRLC
Not sure where its going. Has me confused. Its stuck between a big head/shoulders on the chart and a cup/handle. It seems to be consolidating at the same price point. A volatility event should come shortly then we will make our move based on the event. Either it will be through the roof or the trap door.
MRVL
Looking for the pivot. Cramer finally told everyone last week that he cant back the stock. Historically, stocks have found a bottom when Cramer lifts his guidance. The chart is telling me that the bottom is at 11 due to a head/shoulders. We are going to wait and see what will be the next step. TXN came in with good numbers.
ASIA
Looking to see if the 20 week moving average holds. Notice this will make a great long if it can hold above the 20 week and eventually get over the old resistance at 8.84.
http://stockcharts.com/h-sc/ui?s=ASIA&p=W&b=1&g=0&id=p79077210558
GE
Price is being supported by 40 week moving average with the upper Bollinger right at 37.98. If price cant leap over 38, then we might have a good low-risk short. If it does leap over 38, then we might have a good low-risk long.
http://stockcharts.com/h-sc/ui?s=GE&p=W&b=1&g=0&id=p79077210558
EGY
http://stockcharts.com/h-sc/ui?s=EGY&p=W&b=1&g=0&id=p79077210558
Look at the chart. Bounced off of the 20 week and heading south. Head and shoulders at top tells me that this will land at 3.23. Oil moving up, so we cant short it. Lets wait and see where the price goes. This will be an awesome long at 3 and change.
PTR
Failed the 40 week moving average. Lets wait for a double bottom before longing. I had covered this stock previously and its a disappointment. I thought with oil on the move up and the chart looking the way it is, then it would be a good long. Something that I am missing on this one.
http://stockcharts.com/h-sc/ui?s=PTR&p=W&b=1&g=0&id=p79077210558
TTEK
This looks ready for a pullback.
http://stockcharts.com/h-sc/ui?s=TTEK&p=W&b=1&g=0&id=p79077210558
Looking for a price under 20.
ACP
http://stockcharts.com/h-sc/ui?s=ACP&p=W&b=1&g=0&id=p79077210558
Waiting for the price to bounce on the 40 week moving average or the lower Bollinger. Lets see if there is some support.
CHINA
http://stockcharts.com/h-sc/ui?s=CHINA&p=W&b=1&g=0&id=p18468873562
Big deep multiyear cup. Waiting for a double bottom at 8.17 and an established uptrend.
BRLC
Not sure where its going. Has me confused. Its stuck between a big head/shoulders on the chart and a cup/handle. It seems to be consolidating at the same price point. A volatility event should come shortly then we will make our move based on the event. Either it will be through the roof or the trap door.
MRVL
Looking for the pivot. Cramer finally told everyone last week that he cant back the stock. Historically, stocks have found a bottom when Cramer lifts his guidance. The chart is telling me that the bottom is at 11 due to a head/shoulders. We are going to wait and see what will be the next step. TXN came in with good numbers.
ASIA
Looking to see if the 20 week moving average holds. Notice this will make a great long if it can hold above the 20 week and eventually get over the old resistance at 8.84.
http://stockcharts.com/h-sc/ui?s=ASIA&p=W&b=1&g=0&id=p79077210558
GE
Price is being supported by 40 week moving average with the upper Bollinger right at 37.98. If price cant leap over 38, then we might have a good low-risk short. If it does leap over 38, then we might have a good low-risk long.
http://stockcharts.com/h-sc/ui?s=GE&p=W&b=1&g=0&id=p79077210558
EGY
http://stockcharts.com/h-sc/ui?s=EGY&p=W&b=1&g=0&id=p79077210558
Look at the chart. Bounced off of the 20 week and heading south. Head and shoulders at top tells me that this will land at 3.23. Oil moving up, so we cant short it. Lets wait and see where the price goes. This will be an awesome long at 3 and change.
PTR
Failed the 40 week moving average. Lets wait for a double bottom before longing. I had covered this stock previously and its a disappointment. I thought with oil on the move up and the chart looking the way it is, then it would be a good long. Something that I am missing on this one.
http://stockcharts.com/h-sc/ui?s=PTR&p=W&b=1&g=0&id=p79077210558
TTEK
This looks ready for a pullback.
http://stockcharts.com/h-sc/ui?s=TTEK&p=W&b=1&g=0&id=p79077210558
Looking for a price under 20.
ACP
http://stockcharts.com/h-sc/ui?s=ACP&p=W&b=1&g=0&id=p79077210558
Waiting for the price to bounce on the 40 week moving average or the lower Bollinger. Lets see if there is some support.
What happened to your MU pick? Still following it? It's fallen back below the 50 DMA...thanks. 
http://stockcharts.com/h-sc/ui?s=$RUA&p=W&b=5&g=0&id=p65893415456
At around 2:30, all of my charts started to take a big dump violating moving averages. I looked for news in all of my individual stocks. No news that would have set this selloff.
Then I turned on CNBC to see if something happened, a world event. Nope.
Then I looked at the above chart. I have not used the weekly chart with bollinger bands before. Notice each time the total market has touched the upper Bollinger Band there was either
1) A correction to the lower Bollinger usually lasting weeks.
or
2) A pullback lasting a few weeks before running higher.
We are now at a point where things are going to get rough either for a week or more and it might or might not get a little rocky.
Hopefully, this is a temporary event. You might consider buying one of the ultrashort indexes.
At around 2:30, all of my charts started to take a big dump violating moving averages. I looked for news in all of my individual stocks. No news that would have set this selloff.
Then I turned on CNBC to see if something happened, a world event. Nope.
Then I looked at the above chart. I have not used the weekly chart with bollinger bands before. Notice each time the total market has touched the upper Bollinger Band there was either
1) A correction to the lower Bollinger usually lasting weeks.
or
2) A pullback lasting a few weeks before running higher.
We are now at a point where things are going to get rough either for a week or more and it might or might not get a little rocky.
Hopefully, this is a temporary event. You might consider buying one of the ultrashort indexes.
Watch the $RUT. If the $RUT can blast through 830, then its party time.
Buy GROW at these levels. Chart tells me we have 30s-40s guaranteed in the coming months. I was waiting for it to bounce off that moving average for confirmation and it did. Get in early.
Im going to have to re-evaluate MU at the end of today and see where we stand with it. It ducked back under the 50 day MA.
Buy GROW at these levels. Chart tells me we have 30s-40s guaranteed in the coming months. I was waiting for it to bounce off that moving average for confirmation and it did. Get in early.
Im going to have to re-evaluate MU at the end of today and see where we stand with it. It ducked back under the 50 day MA.