Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

In Play: APPY, SLI, SSRX

APPY is in the midst of working on its pivot point. SLI has a nice bounce off the 50 day MA. Cut your loss with a close below the 50 day MA. SSRX has formed a decent pivot point. Notice how it has bounced off today's low. The stock was down over 7% earlier and it has regained some strength. Cut your loss on it if it drops 7% from the new buy point.


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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 (September 21, 2007)
New Buys: ASTI (finally decided to rebuy. So far so good), HSVLY, INXI (finally rebought...so far so good)

Added To: AEY, APPY, ARTW, BKR, BW, EHTH, SGU, SLI, TOD

Sell-Profit: MHJ (some of my position for an 18%+ return), SIMC (some of my position for a 65%+ return)

Sell -Loss: SILC (some of my position for a 8.7% loss)

Still Not Touching: JRJC (give me a nice pullback first)

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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

In Play: BKR, SLI

Today's In Play Candidates: BKR and SLI

BKR and SLI are two of the top AMEX stocks at the moment. They are CANSLIM in quality and have strong technicals as well as fundamental qualities. I will post charts of both of these stocks after the market close.


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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Add-Ons, Sells, etc
Stocks one should Add To: (Note-One can also initiate a new position in the stock at these points as well.)

BCSI



CMED



FALC



NWK



SHEN



SLI



STRL



TOD



TWTI



WRLS



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Sells: Stocks which one should or already should have sold to either take profits or cut losses. Also includes stocks which are on the verge of being sold if they do not continue to show improvement in their chart pattern.


ARTW (if it continues to show weakness and fail to bounce off the 50 day MA)

DBTK (correct sell point would have been a close below its 50 day MA)

DCO

JNPR

LKQX (sell if it can't continue to bounce off of its 50 day MA)

MFE (sell if it can't climb back on its 50 day MA)

MOS

NUAN (if it can't bounce/hold itself above its 50 day MA)

PAS (chart is starting to deteriorate. Time to take profits)

PEGA (sell if it can't bounce off of its 50 day MA)

RGEN (failed breakout. Take Profit and Sell)

SCLD

SPNC (sell and take profits if it can't bounce off its 50 day MA)

STAR

SURW (this one has been a sell since it closed below its 50 day MA. I have already sold it. Sell it as well, if you haven't already done so. This was a failed trade for sure)

SYNO

UA ( sell if it can't bounce off of its 50 day MA)

VII (Sell/take profits since the stock has closed below its 50 day MA on heavy selling volume)



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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor


Almost...
Today was almost the continuation of the next leg/chapter of the primary uptrend that began back in the early spring of 2003. I say "almost" because although we closed right above the 50 day MA (the DJIA), we still didn't end up breaking out on high volume either. Also, there still aren't that many healthy bases appearing in stocks either. There are a few breakouts here and there, but nothing that exciting. Most of my stocks did just fine today and for the whole week. There were a few of them that did act up though. MHJ and HMSY did not act as well as I would have liked. Still, others such as NWK, SIMC, SLI, and TOD did just fine. Some of my top winners are taking short breaks and consolidating for a little (such as BKR and MPWR). Still, even their charts still look good and as long as the market doesn't flop and break down again, I'm sure they will fare just fine. For now, enjoy the weekend. I will try and post a few new longs for the weekend. I will also try to do some further analysis on some current holdings and see which ones I should add to and which ones I will sell.


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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Indecisive Market Action...
Today's market action pointed towards as state of indecisiveness among investors and traders. It seems that although there were quite a few bargains in the stock bargin bin for investors to pick up, many were still a bit weary and cautious about the recent red-hot sale on Wall Street. Of course everyone is looking for a bounce. Without it, these so-called bargins were really not bargins at all, but instead, empty bags for foolish speculators to hold. The fact is, no one wants to be a bag holder. With that in mind, it is easy to forgive todays mixed action. Despite this, there were a few stocks that still look promising. SLI, NWK, VMW, SIMC and a few others.

NWK



A great time to initiate a position or to add to an pre-existing position. I've been long NWK for a while now (since the beginning of the year) and up over 100% so far...



SIMC



A fairly recent long, SIMC has been trending beautifully right along its 10 day MA. So far, I am up over 18% on it.


SLI



A recent fave, SLI has a similar trend to SIMC. Notice the stock is trending right along its 10 and 20 day MA.


VMW


VMW is my favorite IPO at the moment. Today's breakout helped catapult VMW to new heights...


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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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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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