Watchlist: Aug 08 2009

Let’s do some technical analysis and see what’s hitting support lines or is oversold. I dont see any stocks making this list this weekend as the market is on a run and everything is hitting euphoric levels

Nevertheless, here are a few stocks that make my watchlist

$AMZN: Amazon

See 60 day 60 min chart below, still waiting for it to tag that trenline around $82, I will put this on my radar if it comes anywhere in that green box
Looks like its finding support off the 200DMA, this might break lower if the market rolls over, I would wait.

$FSLR: First Solar

Still on my radar, I will not buy until the pattern completes. It it comes to me @ 130 in the green box then I am very very interested, Currently its tagging 200DMA and might bounce off there.
I am waiting patiently for it to come to me.

$JRCC: James River Coal Corp.

One name that has come to my attention is James River Coal Corp, I have played this in the past at much lower prices and this rallied and sold off dramatically.
It kept popping on my screen as a loser for 2-3 days in a row, thats where I charted it to see what the support levels looked like. I am putting this on my watchlist. Again I see it bouncing off 200DMA but I would wait for a clear confirmation of the support line (purple)

$MCD: McDonalds corp.

I am tracking McDonalds. (I got burnt in $BKC earlier and I have decided not to anywhere near Burger King stock soon), I see some sell off in McDonalds and its approaching support, I would wait for it to tag the green box where I would put this on high alert radar

$WFR: Memc Electronic Materials

Waiting for the channel to work itself out on the downside, notice it’s selling off even as the market rallies… the power of tredlines hmmm… The pattern always completes?
Well thats my theory anyways….

$POT: Potash of Saskatchewan

I sold off my position this friday, I think I had too much money at stake (roughly $1000) and this stock is too volatile, I see its bouncing +-3 dollars from its TL support,
I am keeping this on my watchlist and might be interested on any breakdown in Potash, On a side note, I see weakness in $IPI and $DBA

Watchlist July 27 2009

I did some charting and TA over the weekend and came up with some stocks that I will be watching for price action.  Charts are done using ThinkorSwim platform.

Bear with me for this first post while I try to get a list in order for references.

$AGU – Hitting support around $40 channel uptrend, wait for a pullback to that price

$AMZN – Hit after earnings last week watch for test of trendline support $80

$MCD – Hit after earnings, looking at an entry at $54 will check chart for further support at trendline

$WFR – Have you seen a better channel anywhere? Waiting for pulldown to support ar around $17.5

$MSFT – Hitting trendline support @ $23,  I might initiate poistion here catalyst to ride higher is Windows 7 relesase cycle

$MS – Morgan Stanley is hitting trendline support@  $27.50 here pretty hard, Its been hovering there for a week now. I am a little sceptical getting in this name as any market weakness might take this lower

$DBA – right around trendline support. I ended up buying 25 shares too soon so right now in a limbo with a slight loss. I am waiting for a confirmation of the uptrend or breakdown so that I can add more around 22

$USO – taken off of TL support, might be a good entry around 33 if it pulls back to that range.