Stock Picks – Feb 27, 2014

Stocks are going insane as market heats up here! A number of winners across the board including SCTY, TSLA, FSLR, CSIQ, RAD and GTAT.

The ones I think still have potential – even today are DANG, ARIA, ICLD, BBRY, HIMX, FIO, WBMD, KNDI, CLDX. Charts posted below.

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Picks – Jan 15 2013

Been really laggin on posts now that I am back to work – watch my posts closely now @lcc007 on Stocktwits! Also, now that I have joined Scott Smiths chat room, I am working more with him and the team to take a closer look at high probability stock picks and get clear entry and exit points. Given the work schedule – this is a total no brainer. Watch Scott do his magic on Stocktwits (handle @mastertrader_consultant) or check out his site www.livetradepro.com 

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Market Correction In Progress?

Well, Friday rolled around and the Dow fell 300+ points, and as I mentioned earlier this week – there were already indications that a market correction was possible. the S&P 500 fell below its 50 day MA and there is a lot of chatter that we might be in a Wave 4 correction (see below, courtesy Joanne Klein Above the Green Line).

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There is probably a high chance that the markets will continue to fall next week. Best thing to do at this point is to consolidate positions, raise cash, hedge and have tight stops. There are lots of great stocks to buy, but best to see how the market price action evolves.

A lot of the picks that I mentioned in my last post are now on hold. Charts will be updated once I think there is a potential buy signal. Regardless of the crappy action of Friday, I managed to pull two nice winners – ARIA And UGAZ, both 30%+ winners!

At this point, I sold CAMT, UGAZ and half of my ICLD. I am holding half my ARIA for a continued run to $10, GOGO (Although I’m very close to selling it) and the remaining ICLD (which may be pulling an ARIA here).

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UGAZ Cup and Handle B/O Results:

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MSFT – breaks out of the wedge on great earnings

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AAPL Cup and Handle on Weekly – Use Caution!

Given its ER, any thing can happen, but the cup and handle set up looks nice here. Safest way to play this would either be to to grab some deep in the money options or to just simply wait until the price breaks out of the handle (over $560).

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ICLD – pulling an ARIA? Some pattern similarities, on close watch:

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ICPT – Range play? Need to use caution!

A lot of the plays I mentioned earlier have been falling out of their channels but getting caught by the next layer of support. ICPT might be doing this as well. On watch for a potential range play.

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MARKET SELLOFF HAPPENED BUT NOTHINGS CHANGED

With the Market selloff today on poor global economic indicators, a number of my positions, including GOGO, ICLD  and CAMT took a hit. I’ve been telling everyone on ST to stay put because this dips have historically been bought. I used today as a great oppty to load up on ICLD, and ARIA.

At EOD today, we are in good shape. I am still holding GOGO, ICLD, CAMT, UGAZ, NUGT, ARIA.

Updated charts coming tonight.

Chart Update Jan 23 – CAMT, KNDI, MSFT, ICLD, UGAZ, GOGO, ICPT, GDX, FB

CAMT – reloaded on this dip at $4.6 and now waiting for the move up to the $5.6-$5.75 mark. Perfect bounce play.

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KNDI - similar to CAMT, has just been bouncing off the channel and is making for a nice play before it breaks to the upside

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UGAZ – went long yesterday after a breakout of a cup and handle formation – looking for a $31-35 price target. Thanks to the polar vortex and the coldest winter in 20 years for making this trade possible.

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ICLD - after a brief pull back, ICLD looks like it might be trying for higher prices, I went long at $17 and will be looking for a move to the $19, $20 area.

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JBLU - the ascending triangle finally broke out, allowing JBLU to reach new 52 week highs. Price target is in the 11′s for this stock, nothing but air to get there.

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ICPT - I mentioned earlier that ICPT had the potential to the $300′s quickly. Its already there, touching $353. This is in a perfect channel and the play here is quite obvious. Look for a retrace to the lower TL (between $310-$320) before going long again.

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MSFT - I drew the wedge incorrectly and have updated the chart, still looking for a breakout from the wedge. Don’t buy. Yet.

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GOGO - Looks like buyers finally stormed the castle this week and took out the $24.3 resistance. Will be important to keep this level to see GOGO prices go higher. The MACD cross gives me some comfort, but still very cautious given the history of this stock.

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GDX and NUGT – Miners are still pretty strong in a clear up trending channel – lots of support at $22.8, Reload here for the next move up.

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FB – In December I made the prediction that FB was potentially heading to 60′s. Well now FB is on b/o watch with a potential $66 price target.

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ARIA – FINALLY TIME TO START THE DRUG RAVE PARTY?

I mentioned in my earlier posts that the MM’s were just trying to bore us out of this stock since it had been basing to weeks. NOW we know why – rumors now flying about that Ariad Pharma is an acquisition target! Developments are going to be closely watched – will need to see management confirm and reject for prices to go higher, or just have the acquisition happen ;-) Still LONG AND STRONG!

1-22-2014 3-11-35 PM

Chart Update Jan 20th – GET SELECTIVE AND RELOAD

My last couple posts pointed to a possible correction in the near future. I’m nervous. The last thing i need to have my portfolio blown to bits. In the coming weeks, I will most probably be selective on very specific stocks, trim my positions, or maybe hedge (TZA, UVXY etc.)

Here are some updates on the plays from last week:

BBRY – Anatomy of the Cup and handle breakout

I mentioned last week that BBRY was on the verge of a CNH breakout. Its breaking out, with a possible move to $11. Gettin hot and heavy, quick!

1-15-2014 6-45-30 AM

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CAMT bullish pennant breakout, and channel play

CAMT did break out of the bullish pennant and immediately retraced from the upper TL in the channel. I took my profits here and will be looking to reload on this one soon for a move to $6.5.

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GLD, GDX, NUGT – I very excite!

Look at this weekly chart – very nice! That said look for possible retrace on Gold here. I am holding NUGT and will be watching the charts this week

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ARIA – still under $7.75, waiting for the breakout

ARIA made a move past 7.30 only to retrace under $7. A move up should be coming shortly. I reloaded on the dip on Friday. This is now my second largest holding (after GOGO)

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GOGO trying to make a come back

GOGO tried to make a comeback on Friday, only to get rejected at one of the resistance points which used to serve as support. I reloaded on the dip and this is now my largest position. Above $22.7 and this is golden. Stop in place.

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MSFT breaks out of the falling wedge – rally to ensue?

Wow – that was fast! I think we can expect higher prices from MSFT in the near future.

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