HOTT (Hot Topic Inc.) looks ready to reverse soon. It posted a harami reversal today and needs confirmation tomorrow. Note this may go sideways before it goes up. A push above 5.50 is a good long entry.
MHR (Magnum Hunter Resources Corp.) looks like it will ride the 50sma. Look for a little pullback to that level, 6.71, for a long entry.
ELN (Elan Corp. PLC) held at the 20sma today so an entry was made at 6.73. The 20sma has been a good support recently so a bounce here is expected. Stop set below 6.68.
RDN (Radian Group Inc.) posted a possible harami reversal. Confirmation is needed. An ideal entry would be 7.00, but in the teens will do. Be wary of gaps up.
FORM (FormFactor Inc.) has more downside. Will be watching for a reversal pattern.
XIN (Xinyuan Real Estate Company LTD.) looks like it just formed an inverted hammer along a support level of 2.40. Indicators show more downside is possible so watch for signs of reversal.
DEJ (Dejour Enterprises LTD.) looks oversold. There may be some more downside to .29, but it seems support of .296 has held.
DENN (Denny's Corp.) can breakout above 3.84. A move above 3.80 is significant and may be a good entry for a break above 3.84.
DHY looks ready to breakout. Watch for a break above 3.05 or a reversal signal.
DRL (Doral Financial Corp.) shows signs of being oversold and posed an inverted hammer. Look for confirmation on the inverted hammer and signs of a reversal.
FAF again
FAF (First American Corp.) dropped today and posted a nice bearish engulfing pattern. I called the top today on twitter.
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A play at open would have netted almost 3%. I believe there is more downside, but the market definitely needs to be watched.
allCityTrader The allCity Trader
FAF looks toppish
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A play at open would have netted almost 3%. I believe there is more downside, but the market definitely needs to be watched.
Review of 01/26/11
BQI (Oilsands Quest Inc.) support held and this finally made a significant move. This could start trading above the 200ma.
BPAX (Biosante Pharmaseuticals Inc.) finally traded below the low of 1.93 posted on the 25th. It has since traded downward and is testing the 1.84 support today.
CAK (CAMAC Energy Inc.) never pushed past 1.96 so was never in play.
DPTR (Delta Petroleum Corporation) never made a significant move to the upside. Still on watch though since it is basically trading sideways. A move above .76 will be significant.
ANO (Anooraq Resources Corporation) never made a strong move. A push past 1.5 is what was needed.
ANDS (Anadys Pharmaceuticals Inc.) made a nice move on the 26th and tried to sustain it on the 27th. The weakness on the 27th would have meant it was time to exit since it could not continue or form a significant move to the upside. Didn't play this but it would have been a nice ovenight play.
BPAX (Biosante Pharmaseuticals Inc.) finally traded below the low of 1.93 posted on the 25th. It has since traded downward and is testing the 1.84 support today.
CAK (CAMAC Energy Inc.) never pushed past 1.96 so was never in play.
DPTR (Delta Petroleum Corporation) never made a significant move to the upside. Still on watch though since it is basically trading sideways. A move above .76 will be significant.
ANO (Anooraq Resources Corporation) never made a strong move. A push past 1.5 is what was needed.
ANDS (Anadys Pharmaceuticals Inc.) made a nice move on the 26th and tried to sustain it on the 27th. The weakness on the 27th would have meant it was time to exit since it could not continue or form a significant move to the upside. Didn't play this but it would have been a nice ovenight play.
EGLE (Eagle Bulk Shipping Inc.) Trade
EGLE (Eagle Bulk Shipping Inc.) was another stock that couldn't breakout. It's trading in a tight pattern where I entered at 4.03 and exited at 4.13. I thought there would be more of a bounce yesterday, but nothing happened. Still happy to exit up.
MPWR (Monolithic Power Systems) Trade
MPWR (Monolithic Power Systems) was frustrating. Expected more from this stock and never got it. Entered at 15.08 and exited at 15.15. Blah. Whatever. Don't like the fact that it can't break near resistance.
MTSN (Mattson Technology) Trade
MTSN (Mattson Technology) is trading in a tight range. Rode it up and down and took profits yesterday at 2.40. Not a big gain, but better than a loss. Will watch for a breakout.
FAF (First American Corp.) trade
FAF - First American Corp. was entered on the 21st at 15.25. On the 22nd half the position was sold at 15.90 for a quick 4% gain. The rest was held and since the near support of 15 was never broken, the position was never exited. Exited today at 16.40 for a gain of 7%. Indicators show it may be topped out and with a possible market correction looming there is no need to be greedy. Over 5% gain in a few days!!
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