Stocks I'm Watching Monday 8/10

I was on vacation all of last week in the Isle of Palms & had very spotty wifi. I took one position in Diplomat Pharmacy, and well, it wasn't a good one. $DPLO hasn't yet hit my stop of $44.00, but I am behind on the position with an entry of $47.85. I guess this is more of a note to self to not trade without my entire "toolbox" or reliable internet service. I did catch the headlines & noticed we dropped for the majority of the week. In the short term we look lower, but am watching for oversold signals to buy the dip.

The McClellan Oscillator ended the week at -10.55, which is "no man's land" with a bias lower. I'm guessing we head lower in the beginning of the week & start to ascend on Tuesday/Wednesday dependent upon headlines. This sell off seems pretty orderly for now, but caution is always warranted. There are a few troublesome signs out there, like the Russell 2000 closing below it's 200 day moving average & the continued weakness in the Transports & Commodities. Onto the charts I'm eyeing Monday...

Bluebird Bio Inc. created a very large dragonfly doji candlestick on it's daily chart last Friday. This is a very unique candlestick pattern & was found at the bottom of a intermediate term downtrend for $BLUE. The daily chart shows RSI dipping into oversold territory & Stochastics look like they want to cross upwards. I like this above Friday's high of $157.50, with a stop placed at $153.50. Earnings were last Friday, so they are of no concern.

Lions Gate Entertainment had a major reversal on Friday due to an earnings beat. Caution is still warranted in $LGF since all indicators are still in bearish zones (RSI < 50, MACD & Stochastics still with bearish signals). Ideally I'm watching for a retest of the 50 day moving average at $36.92 and even a retest of the $36.00 level to get in. If this does not happen, I'm looking for a rise above $38.15 for an entry, with a stop placed at $35.34.

Silver Spring Networks, Inc. popped last week off of an earnings beat. The RSI is overbought on the daily chart, so I will be watching for a pullback to the 50 day moving average at $12.50. MACD & Stochastics are very bullish for $SSNI. Eventually after a little rest, I think this one can test all time new highs around $15.

Seagate Technology Holdings, Inc. looks to have put in a short term top just above $52. $STX is well below it's 200 day moving average & has been since early May. All indicators are pointed down & look bearish. I will be watching for a weak bounce to slightly above $50 to short, with a stop placed at $52.35 My first target will be a retest of it's recent low around $44.

Boeing, Co. is the world's largest manufacturer of airplanes. If you have been paying attention to the headlines, the transports have been under performing all year long. $BA established a lower high on the daily chart & has proceeded lower. Also, on the weekly chart, $BA had a bearish cross of the 30 week rising above the 10 week moving average. I'll be watching for a weak bounce to the $144 area to short, with a stop placed at $145.75.

Stocks I'm Watching Monday 8/3

The McClellan Oscillator or $NYMO bounced from an oversold reading at the close this past Monday. It never reached the extreme oversold level that I like to trade off of (-80 or below), so I did not take a position in the $SPXL this past week. The market seems to be churning in a very tight range & has been very choppy over the past few months. I've been taking gains when I have them & keeping stops tight in this type of market. I'm only holding a half position in $ARIA, which is a speculative trade. I normally only go with a half position on any spec or levered type security due to the volatility. Going into next week, I have no direction bias, but I do believe we are going to get a big move in one direction or the other soon. My guess is it's to the downside, but that's purely speculation on my end. Onto the charts...

HDFC Bank is a foreign play, specifically India. India is one of the fastest growing economies & is widely considered one of the most attractive foreign markets. $HDB just about tested it's 50 day moving average last Monday & has since bounced back. It looks ready to test it's all time highs above $64/share. Stochastics had a recent bullish cross and is pointing to up; RSI is not yet overbought on a short term time frame. I like this above $62.63, with a stop placed at $61.50.

Ambarella, Inc. has been one of the hotter stocks in the past few years. It's in the semiconductor industry & makes the chip that is in GoPro's cameras (also a very hot stock), as well as many other popular tech products. $AMBA seems to be forming a cup and handle pattern on it's daily chart. This chart pattern is a very powerful one when it plays out as planned. I like this above $118.50 on volume (this would break above the down trend line of the handle in the formation), with a stop placed at $113. Earnings are 9/2, so not a factor.

Ciena Corp. is a technology company that specifically makes fiber optic networking equipment sold predominantly to telecom carriers. $CIEN tested and held it's 50 day moving average last Thursday. It looks ready to breakout to all time new highs above $26 & change. Stochastics is about to make a bullish cross & RSI is pointing steeply upwards, but not yet overbought. I like it above $25.67, with a stop placed at $24.30. Earnings are 9/2; so not a factor.

Incyte, Corp. is in the Biotechnology sector of the broader "healthcare" space. It has been rumored in a lot of buyouts, including Gilead Sciences. $INCY has corrected quite a bit from it's all time high's over $121/share. It's RSI & Stochastics are signaling oversold signals. Earnings are Tuesday, 8/4, before the market open, so if you play this one it should strictly be for a day trade/intra-day scalp. I do not recommend holding through earnings, as is the case with all stocks I watch. I like this above $105.25 with at $102.70.

Fitbit is in the wearable tech space, competing with the likes of Apple & Samsung. It sells fitness bracelets that track & record all of your health data. It is a newer IPO, first hitting the market this past June 18th. Newer securities tend to be more volatile on a daily basis, so this one is not for the faint of heart. On top of that, $FIT reports it's first public quarterly earnings on Wednesday, 8/5, after the market closes. The chart shows a recent test & bounce off it's 21 day exponential moving average. RSI is not yet overbought & is pointing up, while Stochastics had a bullish cross recently. I like this above $47.84, with a stop at $44 even. This would be only a 1-2 day hold with earnings coming up mid week.

Stocks I'm Watching Monday 7/27

The McClellan Oscillator or $NYMO finished Friday at -42.77, which is a bearish reading. We still have not hit extreme oversold levels, so I am expecting some further downside early next week. All of my breadth indicators are looking very weak/bearish including $NYAD at -1427, $TICK at -483, & the short term trading index $TRIN closing above 1.5. If I see these indicators signal extreme oversold readings early in the week, I'll likely buy the dip via $SPXL. For those unfamiliar with $SPXL, this is a 3X levered ETF of the S&P 500. I will keep my stop tight, since levered ETF's are for trading only due to decay & tracking errors. If holding for a long time, you are almost guaranteed to lose with these trading vehicles & they certainly are not for the faint of heart. I put on a half position in Gold (via $NUGT) right before the close on Friday due to the reversal/hammer candle it put in, but that is my only open position over the weekend. Looking ahead to next week...

Five Below, Inc. was on my radar all of last week. $FIVE had a recent golden cross on it's daily chart & has been retesting it's 200 simple moving average after a recent breakout. Stochastics is showing a bullish cross & RSI is perking up. $FIVE closed positive on Friday, which was impressive given the blood bath of the overall market. I like this above $38 with a first target of $40. Stop will be placed right below the 200 day moving average at $36.80. Earnings aren't until 9/8.

Cyber-Ark Software has been acting much better recently as all indicators are suggesting a short term bottom. This is a cyber security play, and this entire space/sector has been very hot for some time now. $CYBR is sitting right underneath it's 50 day moving average. If we can clear this with conviction this thing could really pop. There is also a gap to fill at $65.58. Stochastics & MACD are both bullish and pointing up. I like this above the 50 day moving average at $63.29, with a stop placed at $59.50. Earnings are 8/11.

Calithera Biosciences, Inc. is my speculative pick for the week. $CALA traded above $30/share briefly back in December 2014, but has since traced back all the way to $6.60. Over the past few weeks it has been perking up & closed Friday at $9.03, which is actually above it's 50 day moving average at $8.98. RSI is pointing northward & Stochastics look like they want to make a bullish cross as well. I like this above $9.15, with a stop placed at $7.85.

JinkoSolar Holding Co. is in the Chinese solar sector. Chinese markets have been very volatile as of late. In my opinion, I see them continuing to breakdown after an astronomical rise the past 1.5 years or so. $JKS closed below it's 200 day moving average on Friday & looks like it's ready to retest the $23 area with a possibility of breaking down. Both MACD & Stochastics had a bearish cross recently. Keep an eye on oil prices whenever watching a solar name (solar companies move in conjunction with the price of oil traditionally). I will be looking to short this name at $23.56 with a stop placed at $24.85.

Goldman Sachs failed to put in a new high recently & looks like it wants to break down. $GS had a bearish cross on both MACD & Stochastics in the past few trading days. It also closed below it's 50 day moving average. I will be looking to sell it at $207 with a stop at $211.50. First target is $204. 2Q15 Earnings have already been reported.

Stocks I'm Watching on Monday, 7/20/15

With the Greek Crisis seemingly behind us & what appears as Chinese market stabilization taking place, the focus has turned to Earnings season in the US. Earnings season has begun with a bang. All of the major banks (JP Morgan Chase, Bank of America, Citigroup) as well as other behemoths like Google & Netflix, have beat expectations by a wide margin. At this point we are almost priced to perfection, as the Nasdaq closed at all time highs on Friday (with the S&P also only nominally below it's all time highs). We aren't technically in the extreme overbought zone on the McClellan Oscillator, but are getting close. I'm leaning slightly bullish, but with a wary eye. I took off all open positions on Friday since I didn't want to carry any risk into the weekend after such a large run up the past 5-6 trading days.

Taser International Inc., looks like it wants to test it's all time highs in the $35-36 range. $TASR popped last week on the Chattanooga shootings & is sitting right below it's breakout range. MACD received a bullish cross on Thursday after the tragedy, Stochastics is pointing up but not overbought & RSI is in a bullish range as well. I like this above $34.25 with a stop placed at $31.70. Earnings are 7/28.

Box Inc. just IPOd back in January of this year, so it is a fairly new issue. $BOX is in the Technology sector, which has been red hot on the backs of the Google & Netflix earnings last week. The chart above shows that there is very firm support in the $16.50-$17 range. It has tested that support area six times & held on each. Recently it has been acting better & closed on Friday at $18.74. I like this above $18.95 with my first target being $20.60. If it can close above $21, it could really squeeze the shorts (over 27% of the shares in float are shorted, which would take over 6 days for all to cover - Short Ratio is currently 6.10). My stop will be placed at $16.35. Earnings are 9/8.

Cal-Maine Foods, Inc. had a major breakout of the $45 area & ran all the way over $60 back in May. $CALM has digested this move for the last few months & now looks ready to retest it's previous highs. It closed Friday right below it's 50 day simple moving average. MACD just had a bullish cross & all other indicators are perking up. I like56 this over $54.10 with a stop placed at $50.50. My first target is $56.

Garmin Ltd. got hammered last Thursday after giving a very disappointing outlook for the upcoming year. The chart above shows that it fell on huge volume Thursday. MACD & Stochastics have a bearish cross & RSI is barely oversold on a very short term time frame. I am looking to sell $GRMN below $42.66 with my stop placed at $43.50.

Best Buy fell a weak sales report last Thursday. The chart shows $BBY tumbled on big volume. Stochastics had a bearish cross & is pointed straight down with RSI just shy of Oversold territory. I am watching to sell this below $32.56 with a stop at $34.40 (right above the gap down & 50 day simple moving average). Earnings aren't until 8/24.

Stocks I'll Be Watching Monday, July 13th, 2015

Check out this chart from StockCharts.com for IPGP

IPG Photonics Corp. is grouped in the semiconductors sector by Wall Street, but their core business is manufacturing high-powered lasers. The semiconductors have all been taken to the woodshed recently, so naturally $IPGP has followed suit to some degree no matter how irrational the move may be. $IPGP is widely institutionally owned (over 71%), so the big boys love holding this one. Technically, we have recently tested our 200 day simple moving average ($83.32) & closed slightly above it at the end of Friday's session. MACD & RSI are signaling bullish. I like this one above $84.36, with a stop set at $81 under our recent lows. Earnings are 7/27.

JetBlue Airways is the sector leader for airlines. If you follow the market, you are well aware that the Transports have really underperfomed recently. $JBLU has held up very well given the circumstances. All indicators are bullish on the daily chart (MACD, RSI, Stochastics), but be careful not to chase this one. If it opens up big on Monday, I'll likely avoid it. That being said, I like this over $21.79 with a stop around $20.00 even. Earnings are 7/28.

Cerner Corp. is in the Healthcare Sector, which has been the best performing sector year to date. $CERN recently tested it's 200 day simple moving average in June and has been acting better ever since. $CERN looks to have put in a higher low on the daily chart & it's RSI & MACD look very bullish. I like this one over $70.15 with stops set at $66.50. Earnings are 8/4.

Alder Biopharmaceuticals Inc. is a small biotech company, so this one is not for the faint-hearted. It moves quickly, so if you take a position in this one just know that you will need to be a little more nimble than normal. $ALDR had a massive breakout around $30 back in May. It had close to a 20% pullback from it's 52 week high of $54.90, and looks like it wants to ultimately retest those highs. All indicators look bullish, especially RSI. I'm looking to take a position anywhere in the $47.50-$50.00 dollar range with a stop at $44.75. Earnings are 8/3.

Goldcorp, Inc. is one of the major gold miners in the world. When looking into seasonality patterns of Gold, June & July tend to be it's weakest months. $GG has had a lot of trouble around the $17 area, so I'll ideally be watching it test this again & fail. I'd like to take a short around the $17 area, but may not be that fortunate if it opens down Monday. I like it below $16.33, with a stop at the 50 day simple moving average at $17.50. RSI & MACD are both pointing down/bearish. Earnings are 7/30.