Thursday, November 18, 2010

November 19 - LLNW, GLUU, BSDM, UNTD, WSTL

Performance of yesterday's picks:
ACLS: +5.62%
AXTI: +6.10%
MERC: +3.07%

SMSI: +4.55%
TMRK: +4.65%

FYI, the market gapped up significantly today, so there was tremendous positive bias. Don't expect 5% daily movers to be the norm.

Here are picks for Friday November 19:

WSTL: Tapped the 10 day MA last couple days and found immediate support, holding the pre-gap November 12 high. Fade in volume during last three down days is encouraging. Weekly chart (not shown) is also strong.


UNTD: Faded after the spike but held the 200 day MA and now also has support from the 20 day MA. Volume more than doubled today. A stop below the 200 day MA is less than 3% removed from the closing price today.


BSDM: This company probably has the worst ticker in existence right now but they've got a constructively bullish chart. Extremely low volume last two days as it undergoes time and price corrections after the rapid run from November 4 - November 12. Holding November 8 spike highs. Stop placement is discretionary, the November 16 low of 5.75 can be used.


GLUU: Forming a bull flag after the November 10 spike. Long wicks and tails are being printed, so a wider stop might be advisable. The 10 day MA has held as support since the spike. Weekly chart shows a high and tight long-legged doji following the November 10 breakout.


LLNW: The strange November 9-12 island gap apparently failed, but the retrace has held the October highs around 6.3-6.4 for the last three days. This October high level (lateral red line) provides a decently tight stop level of 4-5%. The 10 week MA is also less than 7% removed from today's closing price. This is a good support buy in its current state but holding following a close below the October highs is inadvisable.


No comments:

Post a Comment