Double Trouble update | stockbee


Double Trouble update

Market is crawling in to earning season. There were only two stocks showing up on the scan. Out of this JADE was one of the selected trade candidates for Friday end of day scan. It was a better buy on Friday or Monday.

INSW has continued its march up in volatile manner. It has already traded 1.7 million shares. It has a float of just 1.8 million. In two days the float has been turned around 3 times.

CLN,Celsion Corp (Google  Yahoo  Earnings  Chart
JADE,Lj Internat Inc (Google  Yahoo  Earnings  Chart


Albert S. said...

Hey Pradeep,

I have had JADE on a watch list for about two weeks now. The stock, on a daily chart, looks like it is forming a double bottom. I hear you on the 4% increase on Friday 4/13 but it was on lower than avg. volume which was the case for the next couple of days. Today's volume shows that there is still some interest but other than the high in on 2/22 of $12.64 the previous high was in '99 of $11.50. Wouldn't you like to see a move above one of these resistance points before making a move?

I also wanted to get your feeling on a couple of stocks I have been looking at:
-TRAD looks like to be forming a six-month saucer shaped base which is forming the right side and I see some definite upside here of reaching its previous highs of $16-17.
-TWIN is just off its high of $46.85 with earnings being released next week. It looks poised to blow-up as it holds very good fundamentals.
-ASTI looks to be in accumulation mode as it rides its 10-week average.
-HL has also been riding its 10-week as it has made higher highs on above average volume as it has just recently began to see positive EPS and consistently increasing revenue.

I currently hold positions in all except for TWIN. I just wanted to hear what you thought of these.

Pradeep Bonde said...

Jade had signal end of day Friday. It was up 4% plus on higher volume. From that buy point it is up over 18% or so. I do not think much after the signal. All thinking has happened before deciding to trade this system. Over a course of 100 trades you get stopped out on some, you get 5% on some, you get 500% or more on some. The only reason to buy these stocks is because they are going up. As to resistance, the reason one takes stocks within 25% of high during the 100% move is because that amount of resistance is surmountable. At least that is the hypothesis.

As to your other stocks, my feelings do not matter because I do not know what methodology you used to find them. If the methodology is based on some valid concept, the trade will work. Two of your selections are from 100% list (ASTI, HL) ,on both of them you need to watch closely for high volume churn. TRAD is up less than 30% in 260 days. Laggards need real catalyst to get going. Or on should hold long periods for the market to discover them.

m said...

Thanks so much for the has been very informative and helpful. You mention taking stocks within 25% of high during the 100% move (is that from the 260) day. Also could you direct me to where I can find the other criteria like the 25% you mentioned in choosing stocks.
Also to Albert...what is the best source to learn about charts and the bases, double bottom etc as well as accumulation mode and EPS in choosing stocks.
Thanks for a terrific site as a newbie!