Buy SGMO

Buy SGMO right here. It's in a nice little consolidation pattern and looks like it should break higher.

Sell BBI

BBI did what I said it would do, break above the 200 sma. That means it is time to sell, as the stock has had a nice move now.

That's all for now.

CM

BBI Setting Up For a Trade

I missed yesterdays move in BBI (Blockbuster) unfortunately. What makes it worse is that I was just looking at the chart the day before and was thinking this stock was going to pop and move higher. It turns out I was right.

Although it's not as sweet of a chart as the day before yesterday, I still think BBI looks good for a trade here. If you look at the chart you can see a steady trend up from its base at 4-4.50 with two strong breaks in the stock. I think BBI looks strong here and will eventually pop again to move over its 200 sma. I'm looking right now for a few days of consolidation in the stock followed by a strong move above the 200 sma. So look to buy at a low of a day, 5.15 seems like a good target for entry and hold until this stock breaks higher.

CM

TRLG Coming Down to Solid Support

The retail stocks have been under some serious pressure for the summer months. But even though this is true, I'm not going to let it stand in the way of using a game-able chart to try and make some money.


The chart I'm looking at currently is of TRLG (True Religion). The stock has been channelling betwen 14.80 ish up to near 24 bucks for about 2 years now. It closed today at 15.38 and is looking like it will soon be at our buy target (the low end of the channel). The trade here is pretty clean cut. You get in at support, if it holds, great, you might just have yourself a huge winner. If it fails, you'll know it quickly as it drops below give or take 14.60.

A Biotech To Short

Biotechs are getting pushed as the safe haven stocks in the current market environment. It is true that CELG and BIIB among others have outpeformed the market recently by making very solid moves upwards. However, other stocks in the biotech sector have languished.


GENZ has been a consistent underperformer. From the chart it looks like to me that it has been channelling downward and now has downside to 59. It looks to have solid resistance (the top of the channel) at around 65 where I would short it. A strong move above 66 should be a good indicator if we are wrong. Thus, I would recommending stopping out around there.

CM

Sell CELG

CELG needs to be sold here. It has just taken an unbelievable run up from 57 to 67. It is time to lock in gains and wait for the next time it touches its 200 sma to buy.