Need to Know Thu Apr 3 2014 (stocks listed in the post)
This special edition of Need To Know reviews stocks, not necessarily as opportunities, but as examples. What sort of lens should we use to view candidates? How do we filter which ones to stalk, which to chase, and which to exit? Please share your thoughts, have a healthy discussion — the market is giving us a window to get on top of our game.
ATTBF — I want to see a slingshot, from probing intraday under Monday”s low to closing back above it. Flush out pessimistic sellers and defend support. Instead, today attacked yesterday”s low, then hovered there. Bouncing prematurely now might lead me to sell the position from the portfolio.
BRDT — Sitting at equilibrium, having absorbed its pullback, with a key-reversal at the top wanting to be retested.
CBDS — An example of stocks that might be flushing out sellers, but are at risk of breaking support to do so. I would much rather buy strength on this stock, instead of bottom-fishing what might take a long time to recover, from much lower lows.
CBGI — An example of stocks that should be rallying already, testing support, but are at risk of launching a new downleg. I”ll be quick to sell a little lower.
EDXC — Another example of stocks that should be rallying already, testing support, but are at risk of launching a new downleg. Still some room below, and a key-reversal above that helps to justify the risk.
GWPH — Tuesday”s bounce tested resistance, which had been the decline”s target that we were tracking. Probably should have sold it there, but I”m giving it one just a little more room.
NVLX — An example of a stock that is finding interest, emerging from its pullback on volume.
PMCM — Another possible breakout candidate. Volume doing well into resistance, without price pushing back.
STEV — Another breakout. The sector is rewarding stocks that have the goods, and there are probably more out there, gaining attention.
TTDZ — An example of a key-reversal that identifies immediate weakness, but the weakness was short-lived. They don”t all suffer for long. Even then, we examined the reasons why this reaction might only be delayed.