I had 4 triggers from the Watchlist today, with some nice moves in KONG and MFE. Here are the charts for these 2:

The other 2 triggers were JEF and PAG, with both moved over +1%. I am now in cash, because I will be on vacation for the rest of the week. I will keep my Watchlist up, and may look for some trades tomorrow morning if I have time.

I had a lot of charts going into today, and all of them still look good. I also posted some more stocks on my Twitter account, which I just opened a couple of days ago. I plan to post there often, so please follow me if you have a Twitter account. If you don’t have one, you should. There is a lot of great info shared by traders there. Follow me here.

That’s all for now. I hope you have enjoyed some nice profits with me these last few trading with me. Be back on 07/05/09 with some more picks.

Good luck and good trading!

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The indexes pared early losses on Friday, and all three closed the week basically flat, or in the case of the NASDAQ, slightly higher. Not bad considering the rough start last week.

The S&P 500 has been basically moving sideways the whole month, and could be forming the right shoulder of a bearish head and shoulders pattern. However, indicators look good for more upside, and the bulls have managed to negate the bears move last week.

Although the market been moving sideways, there have been some nice moves for momentum traders. On Friday, I had 6 triggers, with 5 giving nice gains, and continued movement in previous picks. Let’s look at the triggers first.

As I mentioned in  Thursdays post, I bought this one early, but it triggered the buy point from the Watchlist on Friday and made a huge move, +9% from the buy point.

SMRT also made a nice move, over +6% from the buy point.

FIRE was another mover, and is still looking good.

MLNK made a nice move, and also looks good. Like FIRE above, this could offer another buy point tomorrow.

ASEI was the other trigger, it failed to catch any momentum though.

Another stock that failed to move after triggering last week was SHFL. It triggered on Wednesday, but moved on Friday. Even if a stock fails to move right away and you get stopped out, it pays to keep an eye on them.

I mentioned in Thursdays post that although I was mostly day trading, I was still holding some stocks. CHS was one of them, and it had an awful day Friday; I had to dump it at the open for a loss. But anoher I was holding was OCN, and it continued to move on Friday, although it had trouble early in the day.

Here’s a few other recent triggers that are still moving:

IBD 100 Stocks for Monday:

Investors Business Daily has the following IBD 100 stocks blackboxed for Monday: SYNA, SNDA, cmg, MFE

Trade Ideas for 06/29/09:

It’s easy to look like a stock picking wizard in this market. It won’t stay that way forever, but there are still a lot of charts that look good. In fact, I have way too many to even post. Here’s some of the stocks I will be watching tomorrow.

Mostly day trading here. These will need some underlying strength in the market as they trigger.

Good luck and good trading!

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What a day for stocks as we finally got a bounce, driven by weakness in the dollar and a rise in commodities . The S&P 500 bounced from its recent golden cross, but on average volume. As you can see from the chart below, indicators are pointing higher as the index tries to move out of oversold territory.

I had several triggers from the Watchlist. I day traded most of them, but am still holding a couple, let’s look at those:

This was the chart I liked the least going into today, it moved the best. Go figure. A very nice move in this one.

OCN finally moved. I’ve been stalking this one for a while.

A low volume move on this one, offering a nice day trade.

This one was wild, and I got very lucky with this. It triggered, then immediately pulled back and came close to my stop, but then it surged higher. I sold it right above 26, then kicked myself for selling to soon. Not long after, the bottom fell out of it.

Ths one triggered into the close and I’m hoping moves higher tomorrow.

I traded this one too.

Although I’ve been having a great week trading,  I have missed some great opportunities. Every night I go though about 300 charts, and pick the ones I like, then narrow that list down to between 5 and 10 for the next trading day. It’s not uncommon for me to throw out some stocks that make big moves the next day. Sometimes I’m able to catch them as they move, sometimes I don’t. If I told you some of the stocks I missed this week, you wouldn’t believe me. But honestly,  I almost posted  DTG as a pick for Wednesday, and VVTV as a pick for today. I didn’t trade either of them. But when the market moves like this, a lot of stock make big moves, you can’t catch them all.

I may start posting more charts on those days where I find more than 10 good ones. On days like this when the market is giving money away, it’s important to make as much money as you can.

Trade Ideas for 06/26/09:

Weakness in the dollar and end of the month window dressing could take the market even higher, but I plan to continue day trading, or at least selling some of the position the first day.

Good luck and good trading!

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