The following stocks are showing momentum based on recent tape.Please use tight stop to limit loss.Also do FA to monitor changes.
AAPL,BIDU,RIMM,MA,LDK,FSLR,ASTI,TSL,SOLF,DRYS,AMZN,
AGU,CCJ,ICE,POT,CTRP,ABX,ISRG,WFR,SNE,GOOG,IFN,EWY,
STP,NDAQ,BG,GLD,GG,KGC,AUY.
Please do your own due diligence as there are many many stocks which are poised to move UP which I do NOT follow.
I normally restrict my watch list to about 100 stocks MAX...and try to sift through for inclusion in any list.
I expect STOCKS to outperform indices in 2008.
Focus should be on stocks to buy & trade...instead of worrying as to where Dow or NASDAQ will go on a day to day basis....this is exactly what I am doing.
I am NOT in the business of predicting where the markets will go in 2008.....I do NOT think anyone KNOWS.......
But we all CAN spot stocks which are ON the move or GOING to move.....charts & fundamental analysis steers US in the right direction......
Repeating & Repeating......buy strong stocks ONLY in 2008 with 80% $$ other 20% can go to 2nd tier...but NEVER bargain hunting from 52 week LOW list.......
Hope your plans are all set for a nice 2008 welcome party !!!!!
Happy New year in terms of health ,Happiness & almighty $$$.....
For the MOST part...we DO control the outcome for 2008.....it is ALL in how hard we try to IMPROVE things.....NO magic WAND in the world I live in.....
Hoping for a great finish to 2007 on Monday !!!!
Impatiently waiting for 2008 !!!!
Happiness is MORE important than anything...usually it does NOT cost anything to have an ATTITUDE which EMBRACES happiness...no matter what !!!!!
Thanks for sharing your precious time in my BLOG...It means a lot to me......
Ever Grateful for everything which I have been blessed with !!!
Saleem
21 comments:
I like CTRP. Looks like strong support on the 10 Week MA.
I am wondering about CCJ. Excellent fundamentals. But the ride from 35 to 40 was not supported by heavy volume. So technicly, I am less confident about this one. Worth watching to see if a base if forming. (SLT looks more tempting at this point)
I hope you don't mind my comments. Trying to learn here :-)
test.
I was having problems logging in. I had to reset my password. Otherwise I have been lurking. I really think you are on to something here Saleem. I have been associating with the billcara.com board which dictates one buy strong stocks at the lower band of the daily,weekly,monthly RSI 7 once the daily moves above 30. Other technicals must align and fundamentals as well. But your concept of buying strong momentum players seems to be gold. My only question is how do you do your fundamental analysis? What sources do you use if you are willing to share. I am trying to home school myself in an effort to get an edge that I believe few have. The new generation of traders have been taught to believe that it is all in the charts. After reading "Warren Buffett Speaks", I bought "Security Analysis" by Graham amd I am going to buy "The Prudent Investor" by the same author so that I can trade more intelligently and learn to hold longer.
Frogvest,
You might want to accumulate PNP.TO or PNPFF which is the ticker for US exchanges. It is trading near a low but moving with a vengance lately. I bought 500 shares on Friday. It is a form of a mutual fund in the sense that it buys Uranium, gold and oil stocks. Mostly Uranium. You can go to pinetreecapital.com to see more info and the stocks that they own. CCJ is in my opinion to volitile due to the fact that it has problems with their MacArthur Lake project and its leaking water problem. I would not buy it at anything above $34 usd.
Hi Frogvest,
Comment section is very useful for all readers including me.
So keep sharing your ideas for all of us.
Any critique of any of my listed stock is also encouraged.
Collectively we are better than just my take on any stock.
Saleem
Hi Stktrader,
I do all my FA through Yahoo Finance & MSN Moneycentral.
I have setup my current portfolio on yahoo finance & aeperately 50 trading stocks on another portfolio.
This way I get all the news in almost real-time ...I DO read all the news on all of my current stocks & potential purchase.
Peter Lynch has two good books on Amazon.com and is priced $10.20
On UP on Wall Street
Beating the street
Peter Lynch was the-most successful mutual fund manager for Fidelity Magellan.....he retired @ age 50.....
Momentum stocks have made more money than any system ..I have been exposed to......
This year I have made MOST money from momentum stocks......
Good luck on your pursuit of a profitable trading strategy....it is ALL in your own take on stocks.
Saleem
Hi Saleem, This IH buy alert came this morning, so I thought I would share it with you to serve as another confirmation of your BIDU play. (not that you need it). LOL...
Play Date: 12/29/2007
BIDU (Baidu.com--$398.87; -10.33; optionable): Chinese internet
http://biz.yahoo.com/p/b/bidu.html
EARNINGS: Third week of January
STATUS: Test breakout. We exited BIDU Friday out of an abundance of caution, not wanting to ride our options back down. We could have done so; the pattern is still solid. It looks as if it is going down to test at least to the 10 day EMA (389.50) before it turns back up. We want to use that test to get back in and then catch a new explosive breakout to start the new year.
Volume: 6.103M Avg Volume: 7.638M
BUY POINT: $391.31 Volume=10M Target=$454.00 Stop=$387.65
POSITION: BPJ BR - Feb. $390c (60 delta)
Hi Doug,
Thanks for your BIDU IH take.
As they are PURE TA oriented...they are trade oriented.
For me BIDU is a long-term bet...like 2008 star pick.....
I tend NOT to worry about 1 or 2 stock in my portfolio of 5 to trend temporarily down.....that is the life on wall street.
You will notice a MAJOR change in my trading strategy for 2008.....
I will try to reduce my trading cost substantially...those $7 can add up.
Saleem
Hi Saleem. A couple things. Thanks for the LDK update, I plan to add some next week. Second, why change your trading style for 2008? You had a banner year. Third, look at MAN. They are a global staffing firm which may have gotten unfairly beaten up. They staff mostly in france and italy where the economies are booming. They beat earnings in october and guided up for the 4th Q. Since the earnings pop they have consistently drifted lower. It appears to me it is near the bottom of a base and poised to outperform in 2008. I typically don't "bottom fish", but MAN looks an awful lot like LDK in that it has unfairly beaten down. I think it has been beaten down with US firing slowing, but it gets most of it's earnings in france and italy, and it's growing in china. Peace and happy New Year.
Yes Saleem Iagree with your reply. The only thing that I was trying to highlight was that IH is expecting an explosive upside with BIDU for the new year. Best wishes and Happy New Year. Doug. P.S. I will be watching your approach to 08 with much interest, as a Saleem student.
Hi Minaccess,
Thanks for your note.
I always adjust to market conditions.
Markets in 2008 will be different than 2007.
New sectors will be in vogue...and I always go with the flow.
My trading style will remain momentum based...but where the momentum will be ...only tape will tell me....in few weeks.....
Thanks for highlighting MAN...I will have a look with FA/TA.
Happy new year !!!!
Saleem
Hi Doug,
Yes I noted IH expectations of BIDU in new year.
As you know I am 70% FA & 30% TA..while IH is 100% TA.....
So we look @ the same glass from different perspective ...but the end result is the same $$$$..
I do know that IH is very good in what they do...
So...you are WISE to follow IH !!!
Good luck for 2008 !!!
Saleem
Saleem, I read this on internet and thought you would find it interesting/amusing, obviously with no dis-respect..
----
Rationalists may turn up their noses at the significance of numbers, but those who believe that the mysteries of the world are hidden in numbers say the number 9 was unlucky for slain Pakistani premier Benazir Bhutto.
A text message that is doing the rounds in Pakistan lists the many nines in Bhutto's life. To begin with, Bhutto was born in 1953, which adds up to 18 and thence to 9. She died in 2007, which again adds up to 9.
The text message, which is also being forwarded on e-mail and has been posted on the Internet, is full of the "unlucky 9" examples.
Bhutto got married on December 18 to Asif Ali Zardari, and many Pakistanis believe the marriage affected her political career, especially in view of the allegations of corruption levelled against Zardari. The date, of course, adds up to a 9.
She went into self-imposed exile in Dubai in 1998, which according to numerology, adds up to 27 and then the dreaded 9!
The text message also quotes a Wikipedia entry which says that the Pakistan government filed criminal charges against Bhutto in an effort to track $1.5 billion she and Zardari allegedly received. The equivalent amount in Pakistani currency is Rs 90 billion.
Bhutto's life span 54 years also adds up to 9.And if that was not enough, she was assassinated on December 27, another 9! Pythagoras, the father of numerology, believed that all forms, art and thoughts are ruled by numbers.
Romans also believe that the mysteries of the world are hidden in numbers. The influence of numbers on Indian astrology is well documented.
In the rational world, there are not many takers for the lucky-unlucky number game and rationalists have many examples to prove that even the dreaded number 13 is lucky.
However, the links the number 9 to Bhutto's life is eerie, says the message.
Hi Troy,
Interesting summation.....
I was born on 13th May....
I always felt very fortunate to have the intelligence to deal with many challenging situations from the age 19...
When my father died leaving younger brothers & sister & a mother to take care of...all totalling 9....without any life insurance or cash in the bank...just a newly built house and a mortgage......
All my brothers & sisters are minimum college graduate and well settled in US...including my mother....
I prefer Canada.....
So...all 9 of US are happy !!!
Saleem
BIDU owners, sad news...!!
BIDU CFO died due to some accident, read more below:
http://ir.baidu.com/phoenix.zhtml?c=188488&p=irol-newsArticle&ID=1090264&highlight=
Troy. Went on Yahoo to look at the BIDU message board to read what the "experts" are saying about this news... My only remark: why do they allow kids with no brains on these boards? I should know better and never waste my time on these boards... Aside from that, sad news indeed.
SALEEM
Your blog is really catching on--Congradulations.
I also appreciate your suggestions ofr 2008. It is helpfull to get tips from you as to how you use Yahoo, and why momemteum stocks are the place to be, but with the exceptional year that you had why would you consider less trades perhaps that was your secret--smile. I do kbnow that like you I work hard to find the best MOMO stocks and tehy search for an opportunity to buy. I have a bad habbit of selling my winners and holding my losers.. I will wish for 2008 to be better for all of us $$$$. Peace to all
Madmax, and thanks for the opportunity to post here!
Hi Madmax,
Results came with a price....
High stress of buying & selling like CRAZY......thanks to market conditions.
2008 I will try to make longer bet...so I do not have to monitor them ticker by ticker......
Yes...I will still sell based on RSI overbought conditions.....and then buy when momo stocks are in oversold territory.....
What I am really saying that instead of 290 trades ..I would like to CUT it into half as many...unless market goes super volatile AGAIN like in 2007....then I have NO choice but to overtrade like 2007......
I always adjust to market conditions...I am NOT expecting a YOYO market @ all......
More NORMAL like 3 weeks UP & 1 week down type....
I am glad you are approaching 2008 with a better focus.....
Experience has NO meaning if we do not LEARN from it.
Saleem
Happy New Year to you and your wife Saleem. Best wishes for a fun night and a blessed 2008. Doug and Patti.
Hi Doug,
Thank you so much for your new year message.
Wishing you the-best new year for you Patti & little ones...
Saleem
Saleem,
Any thoughts re: SIGM? Fly on the Wall reported a strong buy last week by one house that repeated it's target of $100. It seems to be volatile with strong support between 54-55.
Also, I have WX in my portfolio and felt comfortable holding based on prior trades of this stock. Recently though it started doing something I've never seen it do. It gaps up at the open and goes to about 32 and then falls back. I've held because the surges were swift - I kept thinking there would be follow through. Do you have any idea why it would surge on such low volume? Also disconcerting is that the bid started showing higher than the ask like sometimes happens in a fast market with high volume. This was no high volume situation though. Any idea what might account for this behavior? I want to hold but my comfort has waned given the bizarre movements.
Happy New Year to you Saleem and thanks for your input.
Bea
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