Steckler's Star Studded Stock Picks

[DSteckler]

AMR update

Broke out of the symmetrical triangle to the upside. Resistance between 23.40 and 23.55.

[DSteckler]

ADAM update

Broke out and now up 7%. Looking for the 2.50 - 2.75 point move from the open (which was the pivot).

[DSteckler]

Mesa

Add MESA to the airline stocks breaking out today.

[DSteckler]

Disappointing action in SIGM today

First close below its 20-day EMA since October.

[Runner]

Dave, whats ya think of GYMB as a short?

[DSteckler]

Mmm, mmm, mmm, mmm, mmm....tasty.

Look at how it formed a bearish rising wedge the past few days and then fell below the support line today. Wedge was only 1 1/2 points high, however, so the target is around 20.80. A pop higher tomorrow that stalls at the 50DMA would be a nice place to short. Exit could be either a tick or two above yesterday's high or if you want to be more aggressive, wait and see if it closes the gap. That's almost a 10% move above the 50DMA, however, so if it closes the gap you take a big hit.

[Runner]

Mmm, mmm, mmm, mmm, mmm....tasty.

Look at how it formed a bearish rising wedge the past few days and then fell below the support line today. Wedge was only 1 1/2 points high, however, so the target is around 20.80. A pop higher tomorrow that stalls at the 50DMA would be a nice place to short. Exit could be either a tick or two above yesterday's high or if you want to be more aggressive, wait and see if it closes the gap. That's almost a 10% move above the 50DMA, however, so if it closes the gap you take a big hit.

ThanX Dave

[DSteckler]

Peix

Pennant formation after its big move last week. A close above 18 or below 16 projects a 4 point move in the direction of the breakout.

[New-born baby]

Your opinion please

Dave,
Look at FRO. Setting up for trouble?

http://img215.imageshack.us/img215/1253/chart14lk.gif

[DSteckler]

Float < 7 million, ERG > 250

ATEA - pulled back to its 20-day EMA on Tuesday and bounced a bit yesterday. Still very extended, more than double its 200DMA.

IIJI - low ADX (11.49) suggests that when this when breaks out it should make a nice move. Daily technical indicators are neutral but weeklies suggest the selling pressure is over. IIJI is below its 50DMA so there may not be much institutional buying until it gets above the MA.

[DSteckler]

O&G stocks

Many of the O&G stocks I looked at this morning have pulled back to significant support levels, either the 20-day EMA or the 50DMA. Another couple of down days and the entire sector could come under serious downside pressure.

There is an old commodity pit saying that with oils, buy 'em in August and sell 'em in February. Could history be repeating itself? We'll know in the fullness of time....<g>

[DSteckler]

CONN short setup?

Two days below the 50DMA; back above it now but if it stalls at the 20-day EMA, that could be a good place to enter a short.

[New-born baby]

Many of the O&G stocks I looked at this morning have pulled back to significant support levels, either the 20-day EMA or the 50DMA. Another couple of down days and the entire sector could come under serious downside pressure.

There is an old commodity pit saying that with oils, buy 'em in August and sell 'em in February. Could history be repeating itself? We'll know in the fullness of time....<g>

Oil may very well pullback to the $55 level. I was looking at a chart this morning that shows the weakness . . . .

[DSteckler]

That would benefit the airlines, railroads, and other tranny stocks.

[DSteckler]

AMR sweet breakout

From a small congestion zone. The action the past 7 weeks could arguable be called a continuation H&S; if that's the case, it broke out throug the neckline today. Target objective is around 28.50 - 29 (distance between neckline and head added to the pivot price). Sell if it falls back below the neckline.