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Thread: Market Watch for May 15th - May 31st

  1. #1
    candleman is offline
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    Market Watch for May 15th - May 31st

    Check last week's thread to catch up. I am sorry that we had to end the thread for last week. It was a lot of fun and frustration...not to mention drama. Actually, there is some great information there to continue with and unanswered posts.

    Anyway, here is the new thread for the week.

    Anybody that is reading or lurking in this thread is welcome to post. We are a very peaceful investment team here and we all help each other in any way that we can.

    If this is your first time here...then welcome!

    From the crew that resides within these walls...have fun and help each other learn and hopefully succeed!

    Disclaimer for this thread: Always do your own due diligence (research). None of we people in here are investment advisers or brokers, or anything that resembles a professional when it comes to dealing with stocks. If you have any questions about any stock or anything said in here, check it out with your broker. We are just a bunch of people trying to make some money, just like anyone else. What you do is your sole responsibility and not mine or that of anyone else that posts in here. This is simply a discussion group and nothing more. Stocks are very risky and you could lose all of your money. Seek professional advice before doing anything whatsoever. We are amateurs in here and are wrong most of the time. Do not take any chances with our advice to each other or our self-seeking and self-fulfilling comments.

  2. #2
    candleman is offline
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    I would like to suggest that we keep an eye on the following stocks this week.

    NRG
    S
    QASP
    BCLE
    OCNF
    EVXA
    KATX

    All of these have been on the move in the last week. So, it's worth doing some DD and sharing it here with us.

    Gold has been on a strong rally lately. Perhaps Dr. Dave could give us some pointers as to what to expect in that arena this week.
    Last edited by candleman; 05-16-2010 at 11:24 AM.

  3. #3
    Los Tiburones is offline
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    Quote Originally Posted by candleman View Post
    I would like to suggest that we keep an eye on the following stocks this week.

    NRG
    S
    QASP
    BCLE
    OCNF
    EVXA
    KATX

    All of these have been on the move in the last week. So, it's worth doing some DD and sharing it here with us.

    Gold has been on a strong rally lately. Perhaps Dr. Dave could give us some pointers as to what to expect in that arena this week.
    Good morning Chuck!

    KATX - Appears that the drilling is slightly delayed due to permit issues. I am finding this a bit tricky as far as strategy goes ... Although I am in this long term, the recent run up would net me a couple grand. What's interesting to me is the slow, steady move without any real volume to speak of.

    In a perfect scenario, I would love to cash out, and buy back up on what I would presume should be a pullback, increasing the share count. I am practically paralyzed to do it though ... They could spring other news at any moment, (re: JV, or up-listing).

    Just as well, I would like to avg. down a bit more on the great "Q". With SIRI giving better guidance this morning, might have to shave again to feed these guys.

  4. #4
    candleman is offline
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    KATX and BCLE are both up 10% on the day right now.

    The other stocks on the watch list aren't worth mentioning at the moment.... LOL

  5. #5
    Alaska Guy is offline
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    Not sure what to think about OCNF...that used to be a good money maker for me? EVXA looks tempting, but not sure what to make of that last PR. Doesn't sound like they can compete for any of the oil cleanup work out in the Gulf.

  6. #6
    candleman is offline
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    Katx

    Hey LT,
    It looks like you made a great call on KATX. It's up 3 cents this morning. I think that makes it up over 100% in the last 5 days.

    That was a great pick! I was so busy playing with QASP that I've missed the ride altogether.

    Speaking of QASP, today at 4 is the CC that could bring us the news that could spark the next run.......notice the use of the word could...LOL

  7. #7
    SiriuslyLong is offline
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    How does this work? The euro is gaining on the dollar, but EU fears are weighing on the stock market.

    I'm no economist, but if everybody were bearish on Europe, would the euro continue its slide?

    Maybe this mixed signal tells us that the stock market is acting emotionally?? I mean, we continue to get good economic signals and corp reports.

    Yes, there is cause for concern, but companies are performing pretty good.

  8. #8
    Alaska Guy is offline
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    Qasp

    Up then Down??? I'm not sure my stomach can handle this anymore, how much more you buy today Chuck?

  9. #9
    Dr. Dave is offline
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    Hey guys, market is pretty ugly. As you can see, I'm not holding much... can't really count spng, since it's worthless, and I have to call in to sell it, can't do it online, but I only have like $7 worth anymore, as I had sold out most a long time ago.

    Leaves me with 2 gold stocks.

    If you look at gold stocks, and gold trading, it rides little waves. For normal stocks, I buy on breakouts out of patterns, ie. when there is a big move up on volume. For gold stocks, you try to see the overall intermediate/long term pattern but play the dips.

    I bought AUY and NSU on a couple of dips, but rather than swinging out, I was hoping for another dip and a further move up. So right now, I'm down a couple percent today, as gold futures pulled back to the 34 ema.

    So far it bounced off of that line, now looking for a reversal candle. At this point, the chart is a little predictable, so not sure if we'll get another rally here or not. So, keeping my stops pretty tight. Last time the GC (gold futures) pulled back to this level, there was the same type of volume, and a pretty good bounce. Entry would be after some reversal candles, and the first sign of moving up.

    But in all honesty, the market is really tricky, and I'm pretty bearish. Germany I guess put in a halt on short selling some stocks. This removes liquidity, and as one of the guys I followed pointed out, when the US did it around the week of sept 15-22, when the sp500 (please look at a chart here) was at about 1200, it rallied for about a day or two to 1250... from there the market hit it's supreme downtrend to the 600's. You remove liquidity and the ability for people to trade one way, and also introduce fear into the market - ie. things are so bad, we have to ban short selling, then the smart money is left with the option of getting out of their longs (or go long, but who would do that after all these gains and with all the volatility).

    Therefore, for me, I'm just basically kind of sitting out.

    Regarding penny stocks, these of course aren't really linked to general market action, but I've also heard that buying has subsided a little - but who knows how credible that is, in pennies.

    Right now, there is a decent bounce of off some fibs for the GDX (gold miners) and $HUI (gold bug index), so I'm looking to hold one more day.

    Anyway, in 2008, I didn't have the market awareness that I do now, and that year hurt me, until I learned more on how to play with the general direction, and then I recovered in terms of trading stocks, hurt myself a little more with options, lol. But this time, I'm just sitting out, I won't really be going long any stocks. Maybe an odd OTCBB swing trade or a penny here and there, but with very small positions. That and keeping a close eye on these gold stocks.

    It's easier when there is a less volatile trend going. When it's all crazy, I'd rather sit out.

    Sure, there will be massive rallies, and such, but I'm not confident in my ability to time them at this moment, and also, I have a different trading style than you guys... our styles are different, so the way to play is different. Anyway, all the indicators that I use for the general market are bearish at the moment.
    Positions: Change so often, it's no longer useful to update this...

  10. #10
    Dr. Dave is offline
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    I'll add, what I use is bearish, but there is no official bearish trend yet, but heavy reversal signs.
    Positions: Change so often, it's no longer useful to update this...

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