Previously Highlighted Stocks
On this page I have listed quite a few stocks that were highlighted on the web site for the members to review. I quickly realized that there are numerous places where you can find stocks that are ready to make a move. There is even on site where the operator throws out a lot of "picks" each night, and is pleased as punch when any of them make a very small % move, whether or not they presented a good trade opportunity.
Here at ItsInTheCharts, I try to present charts that can be used by all types of traders. The daytraders can take advantage of the sharp intraday moves, and the med to longer term traders can take advantage of the multi-day moves. But I realized that just having a stock to watch is not enough. If you don't get a good op for an entry, and if you don't place a good trade, then you don't gain from it. That is why I have shifted my focus more towards support and resistance, and away from stocks that have already gone into a momentum play.
In the members area, I set up an account (the rules and details about the account are in the members area) and I am using it to show how I would place trades based on my TRADING STRATEGIES (including the new rules for for traders that will take affect this fall) and only using the stocks highlighted on the web site.
Here is an email I sent to the members on July 24th about the status of the "account".
I waited over a week on the positions that I was holding, and today we
have
a seriously oversold intraday charts, so I decided it was time to lock in
some profits. It is possible that I acted too soon on this, but the gains
were getting large, and I feeling GREED moving in.
I will summarize the trades here to show what I did, and the results of
them.
On the q's puts. I closed them early today, and did get shaken out and
missed some profits. But did make 1.40 on 3 contracts. When I saw it
was
clear that I had been shaken out, and that we were going to see a bit more
downside, I did get some different puts on the q's. So I am
"short" on the
q's again.
THQI - The puts bought at 9.80 sold for 16.70. This was the real gainer,
and pretty close to being a home run. Its holding tough on the intraday
chart, and I am happy with these gains.
EBAY - Bought at 8.00 sold for 9.70 Looks like some bullish divergences
forming on the intraday chart. Might have moved too soon on this one,
today
was a nice breakaway gap to the downside. Am considering a new put
position
on it, will just watch and see.
PAYX - Originally went with calls on this one. It moved against me on the
day I entered, so I bought puts to "stop" the loss. The calls
lost $160,
and these puts made $200, so I turned a stop loss into a $40 gain, and that
is after commissions.
As I mentioned above I have the new puts position on the q's, and I am still
concerned about the oversold condition of the intraday charts. I will keep
a tight stop on it, and will look for calls for a relief bounce. It is
likely that we will soon bounce back to test the nas 2k area. Have to just
be patient and see how it plays out.
Today I did enter a new position on SNPS. On the daily chart it did drop
and give a sell signal, then bounced back. As a tight stop I am
considering
51, for a looser stop would view 52.50. Will just watch it and see how it
acts, and then decide which to use if it doesn't continue to follow thru to
the downside.
As to the performance of the trades account, the profits I locked in, put
the account UP by 20%.
This was done WITHOUT daytrading, and by using the stocks highlighted on
ItsInTheCharts.
And this gain has been made in less than 2 1/2 weeks! ALSO, this was done
WITHOUT using margin!
To me, this is PROOF POSITIVE that you can continue to trade once the new
rules come into effect.
The first week I did over-trade, and the second week I am debating if I
under-traded. I do feel that I am getting more into the swing of this
account. I am not forcing trades, and am concentrating on placing good
trades. The hardest part is the waiting, and placing the stop loose enough
to not get shaken out, and to give the stock room to make its move. I am
very pleased with how the stop worked out on payx, so that does tell me that
the options play as a stop is one to keep in the arsenal.
Even though the account is up by $2000. I am going to continue to use the
$500 figure as my dollar stop limit. I don't feel comfortable taking on
more risk, and will continue to place the trades as I have been.
Also, I can say that there has been less stress this past week by waiting,
that from when I am doing the much shorter term trades. Yes the fast
trades
are more "fun" but you can't argue with results like this. I am
also going
to start looking at incorporating more of the support and resistance plays
into my strategy, I am seeing that is where you can get better prices on the
options, and even though it may take a few days, the gains are well worth
it.
The last I have to say is that I am considering using even smaller positions
so I can get into more of them. That may help with the waiting issue, by
having more positions, that should spread out the trades and not have all of
them happen near the same time.
Jim.
www.ItsInTheCharts.com
These are stocks where TA is used to show what to look for on a stock to know how to treat it.
Remember, these are primarily highlighted at night, so the date is for the next trading day.
This list shows when these stocks were highlighted. The current list of Stocks To Watch is located in the members section. You can review the charts of these stocks to see what they have done since they were highlighted.
This grid shows both long and short candidates, and also shows some pivot areas to watch for.
| Date | Stock | Sup | Dip | Bnc | Res | Comments |
| 6/26 | SIRI | 9.88 | 10.09 | Hit 12.19 on 6/29 | ||
| 6/28 | AETH | 7.40 | 8.05 | This is a one or 2 day only watch. We have had major
volume on this, bullish divergence on RSI, and 2 days of closing above the
open. Not much to go on, but as a bottom for a relief bounce, worth
watching.
On 6/29 hit a high of 9.23 |
||
| 7/2 | ESCM | 27.40 | 28.65 | 30.35 | Highlighted for 6/25, since it had a false breakout, and has set up a another good bounce signal. | |
| 6/25 | ESCM | 27.40 | 29.35 | 30.35 | Very high volume, intraday spike to the upside, couldn't hold it. Likely reversal in the making. But, we do have the b.o. level to watch for upside potential. | |
| 6/28 | IWOV | 14.60 | 17.10 | A blast from the past. IF we have a higher low on the nas, then so will iwov, and there is some good upside potential to it. | ||
| 6/20 | BSML | 8.40 | 8.00 | 10.00 | This one has shown some good upside potential, but is stuck between 8 and 8.40 | |
| 6/22 | NOVL | 5.00 | If this can't break thru the resistance, its not worth wasting time looking at any other signals. | |||
| 6/26 | ALTR | 26.95 | 25.28 | Tight consolidation, the break from here is the direction it will travel. | ||
| 6/26 | GSPN | 11.50 | 12.16 | 13.10 | Breakaway gap, should only go up from here, closes the gap and not interested. | |
| 6/28 | BRCD | 35.65 | 40.35 | 38.50 | This is an unusual situation, the dip signal is a short term resistance area, and shows a sell the bounce signal between the dip and support. | |
| 6/28 | MPS | 6.25 | 6.75 | The weekly chart on this looks spectacular. May have to let it form a daily chart dip to around 5.90, but for an IRA account, I like the very long term outlook here. | ||
| 6/25 | OPLK | 2.78 | 2.68 | |||
| 6/21 | DSPG | 17.90 | 19.75 | 19.00 | 22.75 | Very tight coil ready to spring |
| 6/20 | ERTS | 54.83 | 58.80 | 57.22 | 62.30 |
Previous format.
LONG CANDIDATES
| Date | Stock | Supt | Dip | B.O. | Comments |
| 6/20 | UIS | 13.00 | Broke out today, look for a pull back to set up a dip op. | ||
| 6/19 | SBUX | 19.95 | 21.20 | ||
| 6/18 | DMRC | 20.00 | 22.85 | 24.00 | Its started a dip, give it a few days, and see if the b.o. holds as support. |
| 6/13 | FFIV | 14.00 | It closed at the b.o. level, on a mega volume day. Look for continuation if you can get a good entry on it. | ||
| 6/11 | PKTR | 9.10 | |||
| 6/5 | DMRC | 16.90 | 19.15 | 20.00 | b.o. confirmed at 21.15 |
| 6/5 | FIBR | 13.52 | keep a tight stop on this one. | ||
| 6/4 | GGAL | 16.50 | 16.50 | Weekly Dip and daily b.o. | |
| 6/1 | WGRD | 6.40 | 7.20 | 8.50 is the high it really needs to take out. | |
| 5/30 | MICT | 6.70 | 7.55 | 11.50 | Gave a dip signal on the daily chart Tues 29th. On intraday looks like it will dip back to test that signal as intraday support, and then move on up. |
| 5/30 | CDX | 16.45 | 16.65 | 16.75 | How's that for a tight range? |
| 5/30 | PCOP | 18.00 | 19.40 | 21.55 | |
| 5/29 | AMLN | 11.25 | This is a short term b.o. level, but would also be a weekly chart dip signal. | ||
| 5/21 | BRIO | 7.50 | fired up from the dip, now to see if it can follow thru and breakout. | ||
| 5/18 | SONS | 31.75 | It closed the gap, and fired right back up. Now to watch for the b.o. | ||
| 5/18 | MCDT | 38.10 | same as sons | ||
| 5/18 | MRVC | 9.50 | |||
| 5/17 | RDWR | 18.70 | |||
| 5/17 | ANSR | 5.30 | Long consolidation, don't want to wait on support, watching for dip signal for entry. | ||
| 5/17 | MCDT | 38.25 | Closed the gap, bounce up from the daily 50ema, and gave a dip signal Wed. | ||
| 5/17 | OTGS | 7 | |||
| 5/17 | RMDY | 20.10 | The weekly chart showed a major bullish divergence on the long term double bottom that if formed. This would be a continuation of the bounce from the d.b. | ||
| 5/16 | APW | 10 | This is also a weekly dip signal on it. | ||
| 5/16 | PCTL | 4.54 | |||
| 5/16 | XXIA | 20 | This would also break the resistance of the WEEKLY 50 and 200 ema's | ||
| 5/16 | PXLW | 22 | Over the next few days, watch this one to form a dip, and then it should retest the recent highs, and maybe breakout. | ||
| 5/16 | BRCD | 39.75 | 43 | 47.75 | |
| 5/15 | GILTF | 12 | 13.50 | 16 | This one is setting up a nice dip on the support of 12, so there is the dip, and then the support plays to watch. If the support breaks, its off the list. |
| 5/15 | JBHT | 18.75 | This is right on a short term b.o. level. I was surprised to see a trucking company come up on my scan. A little follow thru here and it could take out the long-term highs of 20.50. | ||
| 5/15 | ORCH | 4.80 | 5.20 | 4.80 is a b.o. now to see if it holds as support, and the follow thru will be if it takes out the 5.20 level. | |
| 5/15 | MCD | 27.95 | Ok, a NYSE stock, on the weekly chart this 30 level was a breakdown area. If we get the short term breakout, that cancels the long term breakdown, and gives you the upside potential to go with. HOWEVER, if this 28-30 holds as resistance, then it becomes a short candidate. | ||
| 5/14 | ASGN | 21 | |||
| 5/11 | CTRA | 10.50 | |||
| 5/7 | EBAY | 55 | Still going |
SHORT CANDIDATES
| Date | Stock | Res | Bnce | B.Dwn | Comments |
| 6/20 | CIMA | 85.00 | 75.75 | ||
| 6/18 | SYMC | 64.00 | It broke, and broke hard. Now to watch for a bounce, possibly to test the break down as resistance. Then watch for a sell bounce signal to form. | ||
| 6/18 | BRKS | 50.00 | 48 confirms it. | ||
| 6/14 | ENZN | 80.00 | 66.00 | ||
| 6/13 | APWR | 44.60 | |||
| 6/11 | NWAC | 25.84 | 24.15 | ||
| 6/4 | SYMC | 71 | 67.18 | 62.45 | |
| 5/29 | LEH | 75 | Daily breakdown, and weekly chart bounce signal. | ||
| 5/16 | DPMI | 52.50 | 50 | This would be a break of the weekly 200ema. |
Some of the stocks mentioned in April, before the grid format was adapted.
AMZN Mentioned while under 15, hit a high over 18 on Apr. 18th.
EBAY Resistance of 43, broke out to 48.
EXFO Breakout at 32, ran to 37.90
LTXX Resistance 20, it gapped on the open to 21.10, and has hit a high of 24.35, and is still going. Over 25.50 now, and still going
ATMI Resistance 21, it has hit a high of 23.35 and is still going. Hit 25.65, and still going.
FMX resistance 36, went to 39 1/4. It'll be back as soon as it consolidates.
IRIC resistance 6 went to 6 9/16
IGEN res. 18 went to 19 3/4 this one will come back too, looks like
HDWR res. 6 1/2 went to 7 3/8 looks strong still.
DORL 30 went to 30 3/8 historically a slow mover, and I won't waste time with this one again.
OCLR still moving slowly up to 18 3/8 from the 17 1/2 support mentioned. this looks like its got more potential. Has made a couple of runs now, using 17 1/2 support as buying point. April 9, closed at 18.88
PDII resistance 63, went to 70.40
EAS 19, went to 19.81 so far
VPHM 30, went to 34