New book by Larry Connors Click here Improve your trading - See how
DryShips (DRYS): The stock has had a very powerful thrust off the lows. A nice bullish consolidation above the moving averages has taken place, particularly in the last 4 days when the volume was extremely low. The moving averages held, the stock then broke on Wednesday and followed up on Friday, when it gained another 1.83 on 24 1/2 million shares. That volume was the heaviest in 2 weeks. The mid-December level was around 13.30, so a very strong chance we may test or exceed that and head up to the 17-18 area, perhaps as high as the 22-23 zone, depending on market conditions.
Sequenom (SQNM): With tops in the 21-21 1/2 area continually being pressed and tested, and with a current flag pattern underway, I think it's very possible that a takeout may occur very quickly and a thrust to the 24 1/2-25 range could be imminent, not to mention a further test and a run-up to 28-29, the Sep-Oct highs. But what Iâ??m really looking for is a move that takes this up to 38-40, the top of the channel, over the course of the next few weeks.
------------------------------------------ +45% Annualized Per Trade: Join Now!
Sign up for a Free 15-Day Trial to Harry Boxer's Technical Trading Diary!
Closed 2009 trades are DRYS +51.20%, UEPS +45.25% and SPWRA +34.81%. ------------------------------------------
Cogent (COGT): The stock has moved out of a long base. Over the last few days it's edged up quietly on low volume. It's right around the 21-day moving average. If it can get a little burst here, it could make a run at the top of the channel and get up to the 16 3/4-17 range, which would be my next trading target.
China Sky One Medical (CSKI): This is in a beautiful rising bull flag on low volume, with great technicals. There's no reason why it can't move higher. It's currently about to be testing the June all-time high up in the 16 range. Iâ??m expecting that to break out and then move up towards the 20 area or thereabouts.
Harry Boxer is an award-winning, widely syndicated technical analyst and author of The Technical Trader (www.thetechtrader.com), which features a real-time diary of Harry's minute-by-minute trading ideas and market insights, plus annotated technical charts & stock picks (including his "Top 10 Picks for 2009"), based on Harry's 30 years experience as a Wall Street technical analyst. Plus NEW Member Chat Room!
Sign up for a FREE 15-DAY TRIAL to Harry's Technical Trading Diary.
advicetrade.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
