VanceInfo Technologies (VIT) – 01-29-2010
VIT is just an IBD stock with a nice chart. A low volume sell-off that matches the market is a good swing trade opportunity. With an obvious upside that’s at least 3R, it’s something to consider.
Rackspace (RAX) – 01-25-2010
Rackspace is a name that anyone who does anything on the web probably already knows. Their numbers are decent, but the thing that caught my screen is the steep slope up on the P/E. It started below 30 at the IPO, and has slowly climbed up over 90. It’s also an IBD stock with a sizeable short %. If the market should drop, these are the types of stocks that eat it the most in the beginning. And on the flip side, I also like these types of stocks to have that big correction and show up on the IBD list a year later with a nice cup with handle or double bottom breakout. No solid triggers for RAX yet, but it’s definitely on my watch list.
SmartHeat (HEAT) – 01-21-2010
HEAT is #2 on the IBD list this week, so it has all those IBD type numbers. $13-14 provided some resistance last quarter and looks like it’s held some support over the past month. It had a sizeable drop today, but without the volume to back it. It definitely has some potential for quick gains, but of course that also means the potential for quick losses if played poorly. Just another one to think about though…
China Sky One Medical (CSKI) – 01-21-2010
China Sky One Medical. Not for the faint of heart. They have solid earnings, revenue, and a strong balance sheet, but I’m not sure I’d totally trust a tiny Chinese company’s numbers. I’m mainly looking at the chart for potential though. With over 10% short and a good history of movement over the past quarter, CSKI may be an interesting stock to play on bounces. $19 looks like a line of support, so pay attention to this guy if the market cooperates.
Harbin Electric (HRBN) – 10-06-2009
I remember looking at HRBN a couple years ago when it was around $20. Since then it hit $28, dropped down to $4.25, and bounced back to almost $20 again. A nice little breakout today bumps this one back up towards the top of my watchlist. With tremendous upside and downside potential, this one is still interesting for the active trader who’s disciplined.
Iconix Brand Group (ICON) – 09-23-2009
As you can see, I’ve been lazy lately and haven’t ventured much beyond the IBD list. Iconix is a company pretty much everyone has heard of before. If you haven’t heard of them, you definitely know some of the brands they own, like Candies, Joe Boxer, London Fog, Mossimo, OP, etc. Decent growth numbers and a nice flat base make them a little interesting to me. Support here would make them a decent buy, especially given the current market conditions. Falling through could give a nice short play, since IBD stocks are typically the leaders of the bearish pack during corrections.
Triggers
- Below $16 – Momentum short
- Bounce off $16 – Swing trade long
- Above $18 – Breakout long