Axsys Technologies (AXYS) - 09-15-2008
Bearish periods always make screening long term bullish stocks so much easier. AXYS had a pretty strong day when everything else was getting killed. If it can hold the uptrend on the weekly chart and break out of the downtrend on the daily chart, this may be a pretty strong swing trade. Ideally this one pulls back with the rest of the market and bounces back when the market bounces. That would mean to buy off support around 57.50 and look to take at least some profits at 65. In the long term, the 52 week high around 77.50 makes a lofty long term breakout goal. And of course there are always the bearish options if this one starts to tank too.
Akamai Technologies (AKAM) - 07-30-2008
Akamai is a huge name to anyone that follows internet stuff. While they don’t have the front facing presence of GOOG or YHOO, chances are you’ve gone to more than a few sites that use them for content delivery without even knowing it. They just gave their quarterly report after the close and are trading below $26 (down almost 17%) in the after hours due to weak guidance and only meeting expectations. I’m only showing the weekly chart above, since this is just another one that I want to keep in mind for the distant future if it gets too oversold. Look for how much support $25 lends in the near term, and then see where this one is when the economy finally turns around (assuming their market position and fundamentals haven’t deteriorated of course).
Wabtec (WAB) - 07-22-2008
Wabtec "provides technology-based equipment and services for the rail industry." We all know that guys like Warren Buffett and Peter Lynch love unsexy businesses, and this company fits the bill. Of course you’ll be lucky to make any money if all you do is buy up companies in boring industries, but this one fits some of the other criteria too. WAB had a huge day today after having another good earnings call, shooting an already overbought stock even higher.
The big thing to note is the performance of the stock compared to the rest of the market. The first word that comes to mind is "domination." I typically find it easier to screen for stocks and build watch lists in down markets, since you don’t have to scan through as many rising stocks. Down markets also tend to bring even stronger corrections, so while this one is currently overextended, it’s a good one to at least put on the radar.
Berry Petroleum (BRY) - 06-17-2008
I know I talked about oil being a bubble now, but agile traders can still ride the later stages of the bubble as long as they cash out quickly when it pops. BRY is on a breakout now so if it follows through it could give some quick profits. Stop out if it breaches 57 by too much and it could be a fairly safe trade.
Badger Meter (BMI) - 05-22-2008
Here’s another quick swing trade idea. BMI is an IBD 100 stock that had a huge volume jump last month and then sold off a bit. Note the declining volume after the gap. Now it’s right back down to the gap point so it may be a decent play on a bounce.
First Solar (FSLR) - 05-07-2008
Sorry, I haven’t been posting many stocks recently due to a combination of a number of things which will probably be explained in the future. I’ve posted about solar stocks a few times in the past, but I don’t think I’ve ever posted FSLR. First Solar is a pretty well known company amongst the solar stocks, and like the rest of them it’s been on a rampage over the past year. I think it still needs a bit more consolidation in this 300 area before it’s a good buy, but the play should be on the breakout. I’m looking for consolidation till the next quarter so that the earnings can catch up to the price though. Don’t mistake the pattern on the daily chart for a cup with handle since the volume peaks at the bottom of what would be the cup. Nevertheless, I do see it as a bullish pattern since the volume spike was on a boost upwards that eventually took us up to the 52 week high.