Review 01/24/11

ENER hit a minor support level from late August and bounced. I missed the dip and never entered the stock, but would have exited a few points above the previous close for a small loss.

LLEN posted its reversal today, but I am not confident in it. It opened and closed with in the previous days candle. It also failed to break resistance again for the second consecutive day. I believe there could be more downside here especially if markets become weak.

MPWR had a nice day with a run to 15.50. I entered around 15.08 a little late as I would have liked an entry of 15.03 or so. It is not exactly a piecing pattern, but I am happy it closed above midway the previous candle. Will see how it plays tomorrow and may take profits in this shaky market.

MTSN had a nice run as well. Entry was 2.33. It posted a nice green candle but I would have liked to see it at least piece the previous red candle's high.
Volume also wasn't that high. Will be watching closely tomorrow and may take quick profits.

STZ had a pretty boring day. Little price action on decent volume. Staying away from this one.

XRX is another snoozer with boring sideways action.

WINN bounced off support of 6.15 from early December. I missed this play, but would exit on a dip below 6.15.

CPST another snoozer, but it posted a little green candle today, almost a doji. I never entered but would hold my long and exit on a dip below today's low.

ALTH posted a nice reversal here. It formed a nice bullish engulfing after a bottom hammer formed the previous day. Two good signs. This could run to above 3.80.

EGLE dipped and reversed as predicted. However it did post a big ugly red candle on lots of volume. There could be more downside coming before fully reversing. This may test the lows and then reverse. Be careful.

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