PDS, CREE, and NMX

I'm actually getting ready to head off to China for a little over 2 weeks but first had to leave you with a few stocks that I thought were worth looking at.



First off is PDS. Look to buy at 25.30 where the uptrend should hold. This stock is in a broader recovery rally which you can see if you look at a bit longer term chart. It has been making solid higher lows and higher highs. The 50 sma has turned and will be coming up to support the action and push the stock higher while it breaks back up through the 200 sma. I would to buy at the trendline at approx 25.30.



Second is CREE. This chart, similarly to PDS, is in recovery mode. It looks to have made a bottom and is curving up nicely with the 50 coming up to support and push the stock higher. It is coming down to touch its 200 sma real quick before it moves higher. I would look to buy this one at 18.70 ish.



Last is NMX. I've mentioned this stock pretty often lately as a stock I like as it comes down in price. Today's action was pretty nasty making it look like NMX will head a bit lower from here. I would look around 116 to buy in. 115 is the last level of support so look to cut losses if it drops below.

JSDA free to fall; stop out

JSDA a stock I mentioned a few days ago as a candidate for a nice bounce completely ignored support and has been dropping lower. Depending on how tight you kept your stop, you should now look to sell regardless. The stock is trading very weak and your money does not need to be tied up in a loser.

On another note, MRVL, SNDK, and ATU are either at buy levels or close to it.

I recommended selling MRVL at higher levels than it is now recently and I think they are getting back to where you can buy them again. MRVL at 17.10 it has support at the middle bollinger band, a place where it could begin its new leg higher and a buy point.

For SNDK, I would continue to hold if I had established the position that I recommended at lower levels as this stock's 50 sma is rounding up to break through its 200 sma, a very positive sign that will lend support to the stock.

For ATU, this stock is floundering a bit but still in buy territory at the 52.25ish level.

2 Similar Buys in CTXS and NMX

Both of the stocks mentioned are coming down to support making them look like good solid buys around these levels.

Individually....

CTXS is coming down to support in a previous consolidation range at 31. The support is clear allowing a stiff entry and exit strategy. I'd look to get in at around 31 and stop out a few percent below.

I've previously written about NMX but I wanted to update as it got down to buy levels. NMX actually hit the level yesterday that I said to buy at (around 118). It's up a bit to 121 this morning, but I feel it will come down again to hit those levels and quite possibly a bit lower soon. NMX has great support at 118 but also has further support beneath it making it a bit more complicated trade. What you could do to play this is buy half here at 118 and then see if it falls any lower (the lowest I see is 115) to buy down there.

That's all for now. I'll be back in a bit.

SKS is a buy

I've had a stock I've been meaning to write about but I've been squeezed for time lately. I believe SKS or Saks is a buy here around 21.50. It has broken out of a triangle at 18.25 to 21.50 and measures to 24.75ish. So with that kind of profit potential and now that it has shown that it will hold this level, I believe now is the time to get in.

Take Some MRVL off, NMX, CTXS, JDSA coming in

MRVL has run over 2 bucks since I recommended as a buy at 16 bucks. Now, I think is a good time to take the position off and let things settle down a bit in this name. Taking profits is not a bad thing here. A quick pop happened, this stock needs a little time to rest.



NMX is coming down to support at 118. I would start looking to buy at 119ish for this stock as I do not think it will put in a bottom before then. Upside is around 136/137 mark making this stock a very decent trade coming up.

CTXS is coming down also to support on its 200 sma at 31.40. It should be there soon and I believe it is a buy at that level.

JSDA was levelled last week and has been coming down off it's all time high at 32.50ish made in April. Now it is at around 22.50 and will soon find support on its 50 sma at 21.30. This stock has been hot to the touch for the last, well since forever, and I believe you will see a bounce off that average. Of course as always be very wary under the 50 sma and keep a close stop loss.

That's all for now.

MO Still There, CELG is a sell

MO is still in consolidation after I recommended it not too long ago. I still think this stock is good to buy around these levels in this consolidation. Again, you have a stock poised to go higher that has clear parameters. You have a clear entry point right here and you know quickly when you are wrong ie when falls out of consolidation. This allows for you to be stopped out quick with minimum loss.

Low risk, high reward.

CELG is a sell here. I recommended it around 57 and it has climbed up to 62 here. The price action today just seems a bit out of place, the stock has made some decent gains in a very short time. It's better to get out positive then to risk being back at where we started.

LVLT coming in, CTRN support

Finally! I have a new Apple Macbook. I guess the old one was so screwed up that they had no other choice.

So that means, I'm working from a clean slate instead of a cluttered desktop and now have access to charts once again.

But down to business, LVLT has had a heavy volume drop since its earnings report. I has crossed over it's 200 sma pretty weak. These small caps really get blown to bits if they don't do everything right. I feel this move is a bit overdone especially in such a short period of time. Therefore I would recommend looking to buy the stock at 5 dollar support. This level is good for four reasons. First, obviously the stock jumped strongly off it in September and December. Second, there is psychological support at such a key number. I think people will see the 5 dollar level realize he wasn't this thing just recently at 6.25 and start place some bids underneath it. Third, the Cramer promotion machine is beginning to spin its wheels once again for this stock. HE WILL NOT JUST LET HIS SPEC STOCK OF THE YEAR GO DOWN THE DRAIN. Fourth, it has clear parameters. It lets you find good stop placement (2 or 3 percent below 5 depending on tolerance) letting you know quickly whether you've screwed up or not.

So, at the very least this is a nice bounce play. See how it trades and be prepared to act.

CTRN, an urban clothing retailer, for the last two days has bounced off its 200 sma. Today it is coming down again and may very well hit the sma once again. I would expect to see another bounce off that level. The 200 sma has been a consistently good place to buy CTRN over the past year and I think this holds true here as well. For the last six months the stock has been in sideways consolidation mode making it a pretty good range trade from the 200 sma to around the 45 level. For this stock, I'd look to buy at the 200 and stop out below 37.50 for this trade.

Oh and did you see REXI and ATU? Nice bounces off those buy levels. REXI moved big. I would consider selling off part of the position here (well you should've when it was up 10 percent yesterday). But I would still continue to hold some as well. ATU is a hold right now.

That it for right now.

ATU testing breakout, MRVL holding support

ATU has come down to test it's breakout point making it a buy right here at 52.15ish. If it holds then this spot then all is well. If it does not we will know something is wrong pretty quickly. I'd give it down to it's 50 until you flush out on this one. Right now it is finding support on it's middle bollinger and may not even get to that point.

MRVL is holding support down at 16. It could possibly break below this point but I believe the stock is worth holding on to. It seems the stock has been ignored while other chip stocks have rallied and I don't think that will last too much longer. Stocks like these don't stay at 52 week lows too long.

The broad market looks kinda weak right now. It seems like all the small caps I'm watching are in the red right now too. The good news however is that it looks like more stocks will find their sma's pretty soon giving us some nice plays coming up. CTRN right now is balanced on it's 200 sma. You could buy in down there and stop out underneath. CTXS looks like it is going to break through the 50 and head down to its 200 where it will be a buy at approx 31.50. SNDK is coming back down to the 42 level where its 50 sma is. That will be another buy level for that stock.

There are many more out there presenting a relatively safe entry/exit strategy for this market. Buy off moving average support and stop out beneath.

Oh, and by the way, ERTS got nasty the other day. Turns out it didn't want to bowl up at all and instead took a nasty little drop. Stop loss though would've kept you out of most of that loss. From here ERTS has support around 49. I'm not rushing to buy this one right here. The support may hold but it's not worth the risk with the stock acting as it is.

I'll be back in a bit.