Jan 4 – New to My Watch List

First, a look back at last week’s setups.   Some worked, some failed, and some are still worth watching.

HYTM – Come on, man!  Do something!  HYTM keeps building on the pennant formation on decreasing volume.  Indicators are slightly bearish, so I’m not going to take a bull position until we see a convincing volume move through .47.

NZ – This was a winner.  Been swinging up with volume since added to Watch List.  

CPST – Still in the triangle pattern from last week.  Like HYTM, I will not swing or scalp until it breaks out of the pattern with volume.  Once a position is taken a trailing stop is often a decent approach out of a triangle breakout.  

RDN still setting up a nice little pennant. Worth watching for move.

FBC tried to turn back up last week. Still worth watching, but really needs to move strong with sector support.

DARA was a great winner for me – I scalped 1/2 of this move and sold the second 1/2 the next morning for some good gains.  I do like that it held on to MA200 support on Friday – there might be another move up if this support holds.

LJPC was the perfect scalp on Thursday.

SGMO – Big winner last week on strong moves Wednesday – Friday.

DVAX tried to move on Wednesday, but ultimately failed.  Still worth watching, but chart doesn’t have the attractiveness it had last week.

Few new to my Watch List:

DYAX – bouncing off bottom of channel with nice looking Full Sto/MACD. I might swing long with move over 3.40 : http://tweetphoto.com/7892039

BPAX – testing 1.45 with very tight bollinger bands / RSI14 at 50. Watching for breakout and move through 1.50.  

KMKCF – low volume mineral play that has seen a lot of volume accumulation over the last few months.  We’re experiencing a small consolidation here setting up for what looks like a possible move soon. I might take a small position on a move above 2.07 – swinging.

NGAS– channel trading right now. I’ll wait around and look for a move out of top of channel at 1.82 and play it long from there.

LOOK – A lot of chatter and plays from the Boom Factory around LOOK.  There were definitely some great scalp opportunities.  At this point, I’m playing this as a swing AFTER it moves out of channel only. Until then, it’s a scalp in my books.  Watching closely tomorrow.

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Also watching $GNVC.  Have a great week and keep an eye on the  BULL$ Blog – more trading ideas and stocks to watch are added almost every day.