Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Keep it Simple....
Although there are a few new stocks on my radar, I am choosing to keep it simple. There are already plenty of longs in portfolio that are performing well. Stocks such as BKR, SILC, BW, SYNO, BCSI, CVGW, LNOP, ARCI, SLI did well even with though the market took a beating.
Of course, there are others that have not done well, such as: JNPR, SIMC, DCO, MOS, CF, MPWR, TOD, SHEN and MEAS. If they do not improve, I will simply let them go. I have been adding to stocks that continue to perform well. This strategy helps me take advantage of strength, while my cut loss strategy ensures that I keep my losses as small as possible.

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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor
Another Boring Down Day Is In Order...
I had to drink an extra cup of coffee just to keep myself awake from the boring, negative end of the week action. I have no new buys planned for today as most of them are messing up their technical setups and therefore becoming unattractive buy candidates. There are several stocks that I am thinking of adding to but I 'd rather wait and see what happens with the market first. One stock that is certainly bucking the trend is CVGW. A defensive food-related stock, CVGW is nearly immune to sharp drops in the market. My other favs such as BW, SILC and BKR have taken a light beating. I may add to BKR near the market close if it holds on well. For now, we'll just have to wait and see how everything plays out....


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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor
Despite The Weak Market Action, Several Stocks Seem Resilient
Here is a tentative list of some stocks that seem to be bucking today's negative market action: CVGW, ARTW, BKR, SILC, ALVR, JNPR, PRKR, MPWR, NUAN, MFE

BKR


Very positive breakout action with robust volume to back it up. This is exactly what I like to see in a strong stock.

SILC


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Stocks to Watch and Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Several Things....
This week is a bit busy for me so do not be surprised if my posting is not as frequent as other weeks. There are several things to keep an eye on. If we close at the HOD today, the DJIA will be in good shape to head higher as we have faced some resistance at the 13,200 level. If it can't close above this level, we may head down a bit to retest the area between 12,800-13,000. The NADSAQ needs to close above 2,550 in order to continue its short-term uptrend. If it faces resistance at that level, it may retest the 2,500 level. Likewise, the S&P also needs to close at levels near the HOD (which is slightly above its 200 day MA). Otherwise, it may run into some trouble and take another nasty dip. The Russell 2000 Index needs some more work in order to reclaim its 200 day MA. If it faces resistance and can't climb above the 200 day MA, it may be a good idea to initiate a short-term short position
in it.

As far as stocks are concerned, there are many stocks that have found support and pivot points off of their 200 day MA.

Some interesting stocks that are heating up the charts...


SVT

PLX- Avoid this stock if you are afraid of heights. This is undoubtedly a momentum play and a potential future high, tight flag candidate.

SHEN

VSEC (comeback?)

ACP

CCOI

VMW- Expect the stock to pullback a bit as it has had a quick run-up

SLI

ARTW

CVGW


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Stocks to Watch Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Stocks to Keep an Eye On...
Here are several stocks that you should simply keep an eye on. Buy them up if you would like at your own risk. Remember to keep any new buys small. Technically, one should be patient and not risk cash on either the long or short side at the moment, but sometimes several bullish charts emerge when you least expect them...

Keep an eye on:

NUAN
VMW (recent IPO)
VII (already recommended)
MPWR ( already recommended)
CVGW (good add on point)
CCOI
WLDN
FOSL
SURW
KOP
PLX (very volatile...risky play)
ETC (bottoming out)
PEGA
ARTW (bouncing off of the 50 day MA)

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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Trade Journal

Market Comments: Despite the overall market indices weakness, many of my holdings held up well. The problem with subprime is not a new one, but quite frankly, its one that I've becoming sick of hearing.

New Buys:

Add Ons: VII, CVGW

Sell Profit:

Sell Loss:

Futures: Short Dow, NASDAQ, S&P 500 (e-mini)- In retrospect, I shouldn't have covered my first short position in the first place. Oh well. With the current market action I had plenty of time to re-initiate my short position. Hopefully I'll make an actual profit instead of breaking even.

My Ambitions as a Trader and Investor is not a registered investment advisor. Please read the complete Small Cap Stocks Blog Disclaimer

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Trade Journal Sumbitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Trade Journal

Market Comments: Despite the overall market indices weakness, many of my holdings held up well. The problem with subprime is not a new one, but quite frankly, its one that I've becoming sick of hearing.

New Buys:

Add Ons: VII, CVGW

Sell Profit:

Sell Loss:

Futures: Short Dow, NASDAQ, S&P 500 (e-mini)- In retrospect, I shouldn't have covered my first short position in the first place. Oh well. With the current market action I had plenty of time to re-initiate my short position. Hopefully I'll make an actual profit instead of breaking even.

My Ambitions as a Trader and Investor is not a registered investment advisor. Please read the complete Small Cap Stocks Blog Disclaimer


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Market Comments by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

...I still have many stocks doing well and others not doing so well. This is not usually a positive thing. Still, I have to work with the trend that the market gives me. I have already closed my mini futures for a slight profit/break even. I should have done that yesterday, but I didn't get a chance. For now it is not worth being short unless a definite trend emerges. So lets see which stocks fared well, which didn't and which ones ended up mixed for the day...

Stocks Doing Good: GNET (by the way, GNET makes a good buy even at the current level as the stock is still within a proper buy point), IIN, CVGW (CVGW provided a small buy point on today's dip. After today's strong action, I am convinced that CVGW is shaping up to be a powerful mover), SHMR (a good time to buy SHMR is when it trades near its 10 day MA), SPNC, SYUT


Stocks Not Doing So Well: KTEC ( I should've sold it all yesterday. I got rid of the rest of my position and I still made a profit of over 20%). BOOT (ugly reversal...if it doesn't shape up tomorrow, I'm selling), LGTY (finally got rid of this pos...I failed to follow my own rules. I should have sold this one a few days ago), SYNP

I've been looking for any new longs and think that I may have found a few. If you choose to play them, play them at your own risk. Do not put a crazy amount of money in any new position. It is far better to just keep adding to your top performing stocks and getting rid of stocks that are performing poorly. In tonight's search I have found many past stock picks and holdings. I will try to post some either later or early morning. Today was a long day and I'm getting a bit tired.....

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