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02/18/2013 Weekly Stock Scans

02/18/2013 Weekly Stock Scans

Postby Cobra » Fri Feb 15, 2013 10:21 pm

There're 18 long watches this week. Some of them are inherited from the last week's scan. Those last week's picks that had breakout or the chart pattern became bad are not listed here anymore because they're no longer Base and Breakout setup, in which the weekly scan is focused. It doesn't mean they're not worth trading anymore. Also the scan includes Canadian stocks, they're rare though.

Because of Non-Stop Model is officially on the bull side, so this week's scan is long watches only.

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The major criteria for picking either long watches or short watches is base and breakout setup. So again, let's be crystal clear, before the breakout or breakdown, it's not buy or sell.

BaseAndBreakoutSetup.png


LONG WATCHES:

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HERE explained why most stocks chosen are at or near 52-week high. Generally you should buy 52-week high not 52-week low. HERE is my simple explanation if you don't want to read the lengthy link I provided.
HERE explained how to determine your position size. Generally you cannot simply all in on one stock.
HERE explained Base and Breakout Setup and how to trade, which is the major criteria most stocks were chosen.
All long watches must have 3 month average volume above 500K and the current day volume above 200K and price above $2.
All short watches must have 3 month average volume above 1M and the current day volume above 500K and price above $5.
No consideration of the broad market trend, the ER time. Those long watches may sell off hard if the broad market corrects, those short watches may rebound sharply if the broad market rallies. So when trading those stocks, be sure always bear the trend of the broad market in mind. Stocks a tiny wave while the trend is tide, there's no way a tiny wave beats the gigantic tide.
It's auto scan. Not a stock recommendation, trade with your own risks!

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Re: 02/18/2013 Weekly Stock Scans

Postby tkvprasad » Mon Feb 18, 2013 5:22 pm

Thanks for the scans.

I liked OCN and wondering how would you recommend for a mid-long term trade on this stock ?
For a moment, it kind of feels like this stock finished its run from May 2012 and the current highs with lowering momentum /RSI is probably suggesting a sell would be less risk trade than buying here, but we never know :D :D ; Can you advise ?

also, i am looking SNDK, this stock is challenging its 2010, 2011 and 2012 highs now and poised to breakout and make new highs !! i was wondering what's your thoughts on this stock !?
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SNDK Weekly chart
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Re: 02/18/2013 Weekly Stock Scans

Postby Cobra » Wed Feb 20, 2013 10:16 am

tkvprasad wrote:Thanks for the scans.

I liked OCN and wondering how would you recommend for a mid-long term trade on this stock ?
For a moment, it kind of feels like this stock finished its run from May 2012 and the current highs with lowering momentum /RSI is probably suggesting a sell would be less risk trade than buying here, but we never know :D :D ; Can you advise ?

also, i am looking SNDK, this stock is challenging its 2010, 2011 and 2012 highs now and poised to breakout and make new highs !! i was wondering what's your thoughts on this stock !?


My guess for OCN.
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Re: 02/18/2013 Weekly Stock Scans

Postby Cobra » Wed Feb 20, 2013 10:18 am

tkvprasad wrote:Thanks for the scans.

I liked OCN and wondering how would you recommend for a mid-long term trade on this stock ?
For a moment, it kind of feels like this stock finished its run from May 2012 and the current highs with lowering momentum /RSI is probably suggesting a sell would be less risk trade than buying here, but we never know :D :D ; Can you advise ?

also, i am looking SNDK, this stock is challenging its 2010, 2011 and 2012 highs now and poised to breakout and make new highs !! i was wondering what's your thoughts on this stock !?


SNDK looks great. A huge consolidation area on the weekly chart which usually results in an upside breakout.
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Re: 02/18/2013 Weekly Stock Scans

Postby Cobra » Fri Feb 22, 2013 9:20 pm

Broad market red so inevitably individual stocks weren't good. Several false breakouts (not big losses though especially on the breakout day if you took partial profits), 2 eliminations, only one breakout (also faded). The rest, the chart patterns seem not bad yet, will compete with our new scans in order to be listed in the next week's list.

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Green cycle means a successful breakout/breakdown, so the pick won't be in the next week's list anymore.
Red cycle means a false breakout/breakdown, the pattern in this case may not go bad yet, so still could be in the next week's list.
X means the pattern is gone bad, so the pick won't be in the next week's list anymore.

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