Things didn’t work out as planed as the markets broke above the down line beginning December. My shorts didn’t perform so I started covering and opening long positions.
As markets continue going up, this Monday I have 4 profitable longs and one losing short. A quick graphic review of my longs follows:
Roc was bought on November 4 on the strength of the basic materials group. Roc held up great the November downtrend as it stays within an ascending channel. Beginning December Roc started a steeper tighter channel. As of today it is my best performing stock.
I entered CPNO on November 22 and right after I bought it started going down. CPNO held above the down line of the up trending channel. Let’s see where this canal takes the stock. I will start to worry if cpno closes below the low up trend line.
WMS was bought on December 3 as the ma(50) crossed above the ma(150) producing a very positive long term signal. The stock looks a little blown up now after it traded for five days above the upper Bollinger band. The ma(20) should acts as support.
My latest addition is CELL. I got Cell on December 8 as the stock broke above the bullish flag-type consolidation pattern.
If the markets don’t throw us a split finger ball again, those longs have good potential. For adding to my longs I am considering MGI and AKRX on the new strength of financials and the ever interesting health sector respectively.
