Stocks I'm Watching Closely the Week of 9/2/14-9/5/14

I'm going to get into the habit of posting the McClellan Oscillator (NYMO) at the beginning of each post. On a macro level, this is what I monitor to get a sense of the overall market. It is a very useful tool to gauge a trend reversal when it gets into the heavily overbought and oversold levels (-80 or below, 80+). As you can see the market is overbought in the short term, but consolidating right below the heavily overbought area. The advantage goes to the bulls at the moment. Onto my watchlist...



Palo Alto Networks is a cyber security company, which has been a very hot space as of late. $PANW formed a morning star on it's daily chart. I like this with an entry above the high from Friday at $85.64; stop placed at the low of the star at $79.70. All time highs are right above at $87.79 so that is my first target. Looking for a breakout above this eventually, assuming the market cooperates.

TrueCar Inc. has only been trading for ~ 3 months (IPO was in Mid-May). Be careful with this one as newer issues are seemingly always more volatile. They are trying to bring transparency to the car buying experience. $TRUE looks like it wants to break into new ATH territory around $22. I like this above $20.93 for a test of that $22 area.

Howard Hughes Corp. is a real estate owner lease manager (OLM). $HHC formed a bullish engulfing candle on the daily inside of a bull flag. It also bounced beautifully off of it's 21 day exponential moving average which looks like pretty strong short term support. I like it on a break of the flag and above short term resistance around $159. I think this name will push into new all time highs with my first target of $161.

Liberty Global is the largest international cable company. $LBTYA formed a bearish engulfing candle on it's daily chart on good volume. It also possibly formed a near term double top; time will tell. I will sell this on a break of $43.57 (Friday's low) with a target of it's 200 day simple moving average around $42.63.

Kandi Technologies is the "Chinese Tesla" if you will. $KNDI the largest producer of electric vehicles in China. KNDI tanked on Friday on very heavy volume. I'm placing my bets on the short side if it breaks near term support at $17.55. Stop will be placed at $18.50. If it breaks it's 50 day simple moving average with conviction, it might test it's next support level around $15. It's easy to be a bear when you see their product below lol. Call me vain, but that guy looks redonkulous.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Stocks I'm Watching Closely the Week of 8/23/14-8/27/14

Twitter is still acting great ever since their 201402 earnings breakout. Investors wanting a loose stop can comfortably put one at $42.75; while more aggressive traders can place one around short term support of $44.30. $TWTR announced that they will launch an E-commerce platform after the market closed this past Friday. This could result in a gap up Monday morning. My first target is $48 for this name, but I like for it to breakout above $48 as well, and think we can see low $50's in the near term.

YY Inc. is a "hot" Chinese internet stock. $YY bounced off it's 21 day exponential moving average and formed a bullish engulfing candle on the daily chart and also formed a bullish engulfing candle. RSI is pointing upwards and all time highs are just above at $89.70. Entry is placed slightly above the bullish engulfing candle high ($87.93), stop at $84. I'm looking for a breakout and potential push to $100. $90 is my first target.

Proto Labs Inc. is one of the larger (market cap of 2 Billion) 3D printing names in the space. $PRLB formed a piercing line candlestick pattern on the daily after a steady short term downtrend. I'm watching for confirmation of the bullish reversal and will enter on a break of the top of the candle at $77.36. Stop at $75.80.

Huntsman Corp is a major diversified Chemicals company. $HUN formed an evening star candlestick formation on it's daily chart, and also closed below it's 50-day moving average which it hasn't been able to recapture with any conviction since a Mid-July break. Stochastics just touched overbought territory and are now pointing down. My entry will be at $27.12 (right below the low of Friday's candle) assuming it doesn't gap down too far. Stop at $27.80 (top of the star) and first target is $25.75.

BJ's Restaurant Inc. is competing against the likes of McDonald's, Starbucks, Yum, etc. No small feat. Equally as worrisome is the bearish engulfing candlestick it formed on Friday after a nice uptrend. It also appears to have possibly formed a near term double top, albeit a fairly crude looking one. I'm watching for confirmation and will enter $BJRI on a break of Friday's low at $35.70. Stop at $37.25. Last but not least, is it me or is that a horrible name for a restaurant? Maybe I should get my mind out of the gutter...

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Whole Foods Market (WFM) 8-17-2014

Whole Foods Market ($WFM) has really gotten hammered in 2014 due to investors worrying about their lack of growth. They have missed expectations on their last two quarterly earnings, but the chart looks to have found a short term bottom. All of the bad news seems to be baked into this stock, and it has been acting a lot better recently. I like Whole Foods on a break of $39.50; stop placed at near term support of $36.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Under Armour (UA) 8-17-2014

Under Armour ($UA) has been one of the S&P's biggest winners in 2014. It broke out on earnings and is holding the breakout well on decreasing volume. I like this above $70.25 with stops placed at $65.50 (bottom of the bull flag). I have a short-term target of $80 on Under Armour.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Lockheed Martin (LMT) 8-17-2014

Lockheed Martin ($LMT) is a leading defense contractor with a beautiful chart. Lockheed Martin is approaching new all time highs, and still isn't that expensive with a forward P/E of just 14. Lockheed's next earnings report isn't until late October, so this isn't a factor. I like this on a break of $170.50 with a stop at $162.50 right underneath the 50-day simple moving average. Target is $180.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Celgene (CELG) 8-17-2014

Celgene ($CELG) looks good over a break of $90.20. All time highs are right above at $90.50, stop placed at $84 below the 50dma. Celgene has been a market leader for some time now in the Biotech sector. Celgene's next earnings date isn't until late October, so it is a nonfactor. MACD and Stochastics make it look like a breakout is inevitable.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Goldcorp Inc. ($GG) 8-17-2014

Goldcorp Inc. ($GG) has been stuck in a channel for a few months. I entered on Tuesday at $28.78. The Gold Miners have been acting better recently, and I'm looking for a breakout above $29.65. First target is $32. Stop is placed right below the bottom of the channel at $26.75. Aroon Up signaled a new uptrend on Tuesday.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Twitter ($TWTR) 8-17-2014

Twitter ($TWTR) broke out on it's 2Q2014 earnings and is forming a nice bull flag/consolidating very well. I love the risk/reward at this juncture. I entered on Thursday at $44.82. My stop is placed right at the 50dma/short term support of $42.40. I like Twitter to bust through the $48.00 high established the day after their earnings release with a first target of low $50's. Twitter has ~7% of it's float short, so this can intensify the spike if we breakout. Also, this is still a reasonable takeover candidate by one of the technology behemoths like Google or Apple. Tweet Tweet.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.

Stocks I'm Watching Closely This Week 8/11/14-8/15/14

Home Depot ($HD) is very close to breaking out. I like it above $82.50 with the first target being ~$84.75. Stochastics just crossed and is pointed up. HD reports earnings Before Market Open (BMO) on 8/19. I like this one to run up into earnings as well. Stop at $77.70 where there seems to be good short term support.

Nordstrom ($JWN)is consolidating nicely after it's breakout in May on Q12014 earnings. RSI is perking up and is not yet overbought. I like this to run up into earnings, which are on 8/14 After the Market Close (AMC). My first target is $72.25. I do not ever recommend holding a position into an earnings report , due to the amount of risk involved.

Whole Foods ($WFM) looks to have found a lot of support around $36 after getting hammered in it's Q12014 earnings report in May. In the short term, all of the bad news seems to be baked into this name and it's still acting well. The long topping tale/shooting star candle a few days back was due to a rumor that Carl Icahn was starting a position, which turned out to be unfounded. I like this above $39.50 with my first target being ~$42.75. If $42.75 is cleared I like a push to the 200dma around $49. Stop at $36.

JC Penny ($JCP) has found itself in a channel between $8 & $10 for the past few months. I like this above $10 for a breakout of the current channel. Stop right below the 200 dma at $8.15. JC Penny reports on 8/14 (AMC). It may take their earnings report to breakout. I will not and don't ever recommend holding into earnings due to the amount of risk involved.

During the day I will tweet chart/position updates to my followers on both Twitter and Stocktwits (NCInvestor). Please follow me @NCInvestor.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in NC Investor Blog is often opinionated and should be considered for informational purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting NC Investor Blog.