Friday, June 01, 2007

triggers

Here's some stocks that I see firing my triggers today:

BGC confirming it's breakout from 2 days ago. May be a little extended
from buypoint, but volume has been increasing nicely the last 5 days.

YUM is breaking out of a 65-68 channel. Would like to see more volume,
but it is a low risk opportunity with a stop at 67 (or 65 if you're more
adventurous). This stock has been very good to me over the years as a
long-term hold. I got out of it after 2/27 and should have re-entered
sooner, and might use this as an opportunity. They announced a split a
week or two back.

JCOM should have bought this one yesterday, but it might still be within
5% of a 32.5 high. Volume might be diminishing.

TEX making a new high off a "mini-cup" pattern. Needs volume.

TSO making new high breaking out of 57-62 channel. I also like the idea
of having a refiner as a longer-term play.

GTI hasn't really based long enough for my liking, but making upmove
today off a 2 week tight pattern. Volume is looking good.

MR looks like it is breaking out of a 3mo cup & handle (short handle)
pattern. Volume running above avg, decreasing volume in the handle,
looking good. I am skeptical of buying a Chinese stock right
now--especially THIS one, which I bought last on 2/26. But it's very
tempting...

MICC (best for last) already above avg volume and up 5% breaking out of
a long 81-87 channel that has been building for 7 weeks. Some big downdays
in that time but good support at the 50d and now looks to be taking off.

I am long BGC from a few days ago. Of the others, I will look to enter
MICC and probably GTI today. MR I will ponder over some more.

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