Hope You Bought CELG, NMX is a Buy Once Again

CELG earnings turned out to be right what they needed to be and our buy point turned out to be right where you should've bought. It was a low risk-high reward opportunity and it has worked out nicely. The stock is a hold right here.

NMX has come down from its high around 140 and is now a buy around 122. It could move to 118 ish but no lower than that. I would buy half here and wait a bit to see its direction before adding anymore.

CM

Taking Profits in NMX, Two Others Are Buys

NMX which I recently recommended after it made a higher low has now hit and bounced off resistance at 142.50, prompting me to issue a sell signal. There are two ways you could do this. Because NMX still may break from its range, you could only sell half leading you to catch the breakout if it happens. However, the stock could go down as well, leaving you losing money. Or, on the other hand, you could sell your entire position at resistance and take the quick profit racked up in the stock. Then, if the stock breaks, you can buy the breakout or retest.

Two other stocks I've been watching are now buys.

CELG is coming down slowly but surely. Remember to pull the trigger around 56.25 and stop out below the 200 sma.

SFLY is a buy here as it consolidates. It is forming a little square consolidation pattern, offering a range to trade and a possible break. Buy at 23.15.

That's all for now.

CM

NMX Makes a Higher Low, SFLY Breaks

In one of my last blog posts, I mentioned that NMX was floating around looking like it was headed towards support at 118.50ish. Well it did float around, but has now formed a higher low and looks to be pushing hard to the upside. From here it is almost assurred to get to resistance at 142.50, a good 4.5% move. This may not seem like much but I believe there is more to meets the eye here. This run could be the one that gets NMX out of its broad range and moving much higher. That said, I believe NMX is a buy right here at current levels around 136. I'd pick away at it as there might be a bit of weakness after two days of strong upward movement.

Oh and NMX is a buyout candidate. Remember that? Yeh, it's what almost lead to a breakout last time around.

SFLY, a stock I've mentioned on here before and have been watching closely, is now ready to make a move higher. It has been consolidating around its middle bollinger but made a strong 4 percent move up today. It, like NMX, is also a buyout candidate adding to the attractiveness of this stock at current levels. I'd put on a position right here at around 23 bucks.

That's all for now. I'm off to the beach for the weekend so I doubt I'll be blogging much in the very near future.

CM

CELG Coming Towards a Low

CELG, a stock I've recommended on here before, has been coming down as of late and is looking like it will be a buy very shortly. As you can see in the chart, CELG has been cylcling up and down in a steady uptrend. It has continually found support at the 200 sma. I believe that the stock's current situation is no different. The stock has come down off its highs and has been poking around, getting closer and closer to that 200 sma.

Once we see that drop to the 200 sma which will likely be a very short one, I'm sure you'll see a frenzy of buying as people realize that this consistant performer is once again on sale. For that reason, I am recommending a purchase of Celgene shares at the price of 55.75.

Another feature of this trade is that it has a well defined exit point. The 200 sma, the moving average we are betting that the stock will hold, will be basically right underneath the stock at purchase. If this is broken, we know quickly that we were wrong, all bets are off, and we stop out.

As a bit of an update to my recent posts about F, I believe that the stock is now a buy. Furthermore if it comes down to its breakout point at 9.02ish, then buy more.

That's all for now.

CM

Sell Ford; Wait to Buy Later

Ok so Ford (F) broke out just like we were looking for it to do. However, some news has come out lately and it's a bit weak here. It's not off by much, so its not like its dying but I would rather take some profits now than later if it continues its pullback. The stock's RSI is at the top of its range so it is very likely that this action may persist.

CM

Trade's Not Working in OXPS, NMX Close to a Buy

Time is working against the OXPS trade. It has sat around the buy level and has refused to move. At this point, I am calling it quits in this trade for just this reason. If we were right it would've already moved by now. But instead the thesis has not panned out and it doesn't seem like this trade is worth the risk anymore. Getting out here leaves us with a very minimal loss or even a slight gain actually. So, with that said, get out around 25.80 and move on.


NMX, a stock we've already profitably traded on this blog, is coming back down towards the bottom of its range. It has been strange how this stock has moved. First, it touches bottom. Then it flies to a high. Buyout rumors circulate and it pops through its range. The move didn't last. It has given back all of the gain and is now about 7 bucks off of where we bought it last time. At 118.50ish, this stock has very strong support that I believe will hold once again.

The technicals do not tell the whole story though. NMX could very well be bought in the future. Cramer was pounding the table to get NYX to buy it at about 145. It's just another reason to own this stock. You could get paid off just through playing the technicals or one of the big macs could come up and make an offer.

Either way, you win.

I'll be posting a bit more regularly now that exams are about over with.

CM