Past trades for the week July 25th

bot recn @ 30.23, sold @ 29.64, net (2%)
bot gnss @ 25.09, sold @ 24.81, net (1%)
bot chtt @ 46.96, sold @ 45.95, net (2%)
bot amgn @ 81.76, sold @ 81.03, net (1%)
bot boom @ 42.29, sold @ 41.5, net (2%)
bot ntes @ 59, sold @ @ 58.92, net (0%)

ECOL

ECOL breaks out today.

AMMD

AMMD was featured in my newsletter, green arrow was my buy pt.

Update: CHTT

Another one that had a good pattern, but disappointed me badly.

Update: BOOM

Another example, just sit and sit.

Update: ABLE

Without a good eaning, after a fake break earlier this week, it just sits there.

Banking index

Update: CNET

CNET looks fair as well.

Update: FORD

FORD continues its strong uptrend.

Frustration

Yesterday I wanted to write a column about my recent frustration, but I could not find the answer, so I stopped. Today over MSN, one of my subscribers expressed his confusion and some disappointment. I now go back to dig my recent picks, and discover why my strategy has an above average failure rate this couple of weeks: the market is rewarding the companies that have come out good earning numbers, the ones have not are getting sold. Some of my picks had a great looking chart pattern, the overall market looks great, the stock price is just getting hammered after the fake breakout, because they don't have the fundamental news to support it yet. At the mean time, traders are rushing into the ones with confirmation from both technical and fundamental.

If any readers have been done very well or caught some great market movers this couple of week, please respond. Maybe there are more reasons behind my frustration.

Update: AMED

It looks like it will resume its uptrend.

CRM

It has been featured in my newsletter for some days now. Finally breaking out today.

Open

The market is just hanging there. With some more time, it will work off the overbought condition, which could be a bullish development.

CNET

I can't find many setups to buy recently. CNET is the only one this morning and it has been featured in my newsletter for several time, it finally breaks up today. I will try some here, very cautiously.

Open

The market gets a little bounce this morning, I think traders should use this mini rally to get out some longs.

Semi

Biotech

I expect 580-590 area will give support.

Pullback

The market finally started its pullback today, some speculative small plays are getting sold, stocks like CTTY, DSTI, but look at AMGN, EBAY, they are only down less than $0.5. Keep an eye on these leaders. They will tell us when the market will turn higher.

FORD

Monring

The market just does not want to go down. After a briefing weakness, once again it turns to green. Wow.

Weekly commentary

I remain bullish going into next week, even though I think a brief pause of recent rally is highly possible. We're in the middle of earnings season. Companies with good news are being rewarded with higher stock prices, while companies which disappoint are being punished. This indicates a normal, healthy market. With that in mind, I would think the pullback as an buying opportunity.

Past trades for the week July 18th

bot ango @ 25.91, sold @ 25, net (4%)
bot iiji @ 9.55, sold @ 10.26, net 7%
bot ckcm @ 23.94, sold @ 26.8, net 12%
bot dsti @ 16.38, sold @ 16.08, net (2%)
bot geoi @ 15.37, sold @ 14.6, net (5%)
bot mcri @ 25.5, sold @ 26.27, net 3%
bot asca @ 28.92, sold @ 28.34, net (2%)
bot plab @ 26.25, sold @ 26.88, net 2%
bot idbe @ 19.6, sold @ 20.5, net 5%
bot goog @ 310.6, sold @ 299, net (4%)
bot cme @ 302.1, sold @ 309.2, net 2%

Biotech

It offers us a good opportunity to get in some of the favorite names.

Open

This morning the bright spot is at semiconductor sector. The other sectors are experiencing the brief profit taking. I still think we have a little more downside to work with in the coming week. I am feeling pretty down today as I stopped out my GOOG position at lower prices yesterday. Even though I know I am generally pretty good at trading, I can still feel my stupidity sometimes. So less blogging probably today as I recharge myself.

IDBE

A winner from last night's newsletter.

CME

CME is trying to breakout the range.

Open

The market open weaker this morning. I have been saying in newsletter that we might see a pause short term, due to at resistance and too much optimism. Today it might finally start.

Update: CVTX

Update: KERX

KERX has been steadily climbing up since it broke up the resistance last week.

CKCM

I mentioned it over MSN yesterday at $24.

Update: ENCY

Open

We have a split market this morning, biotechs on the rise, semiconductors and internet are on the downside. I am closing some long positions this morning.

ENCY

I recommended it last week, it has a nice continuation today.

ANGO

After an upgrade, ANGO is selling off. I don't like its action so far, so I would suggest to cut the position at least half before it touches my stop at $24.5.

GOOG

GOOG on the move again. YHOO's earning is the key.

Strong open

We got a boost from IBM's strong earning. Technology is leading the rally once again. Some momentum money is rotating out of biotechs, into semiconductors and interent.

KERX

One of my picks from last night's newsletter. More upside ahead.

IIJI

DSTI

Slow day

It has been a slow day so far. Can we see some strength towards to the close? I am sticking with my bullish stance and seeing this weakness as buying opportunity.

Open

This morning Citi's miss triggers some profit taking. So far the pullback is minimal, and I don't see any damage yet.

Announcement

I am going to raise the subscribing fees for both gold and platinum service at end of July, to $40/month and $120/month, respectively. This fee change DOES NOT apply to the current members. To lock in the current rate, please act now by signing up.

Weekly commentary

I remain bullish this week, even though the market is mildly overbought. Some profit taking along the way would not be surprising. Remember, overall trend is up. Once the trend is formed, the market is very likely following its path for a longer period of time than people expect. This long trend is supported by the good fundamental news, which includes good inflation data last week. The core CPI has been up a negligible 0%, 0.1%, and 0.1% over the past three months. With the earning season off to start, I expect the market will respond well to the upside surprises.

Past trades for the week July 11th

bot gnss @ 19.76, sold @ 20.7, net 5%
bot amtd @ 18.8, sold @ 18.77, net (0%)
bot cnet @ 11.98, sold @ 11.95, net (0%)
bot dna @ 84.25, sold @ 84.2, net (0%)
bot psys @ 49.53, sold @ 48.93, net (1%)
bot pwav @ 10.55, sold @ 11.17, net 6%
bot gnss @ 20.66, sold @ 20.54, net (1%)
bot boom @ 44.7, sold @ 44.37, net (1%)
bot talx @ 33.41, sold @ 34.8, net 4%
bot amtd @ 19.28, sold @ 18.99, net (2%)
bot dna @ 84.8, sold @ 86.72, net 2%
bot mnta @ 20.45, sold @ 23.49, net 15%
bot cme @ 292.22, sold @ 299.35, net 2%
bot pssi @ 13.35, sold @ 13.16, net (1%)
bot cvtx @ 25.45, sold @ 27, net 6%
bot ppdi @ 55.4, sold @ 57.35, net 4%

Update: MNTA

I would take profit on MNTA right here.

Update: MNTA

Update: CVTX

Update

The market opened weaker today, which is expected to work off the overbought condition and looks like a normal pullback. I would add some more positions using this weakness.

Update: DNA

DNA continues its uptrend after it broke out $85 two days ago.

PPDI

Time to take some profit off the table, strictly daytrading.

MNTA

One of my picks from three or four days ago.

PSSI

It was featured in my last night's newsletter.

Open

The market opened strong across the board. I wish I had more to report, but I am out of words to describe the current market, but bullish.

Per request: FUEL

First of all, I would not pick this one at first place. Too many whipsaws, hard to make a profit. Since you already longed it, i guess you might sit through it with smaller loss or even small profit.

Update: crude oil

Crude oil is still sitting at resistance. How much impact will $60 plus oil have on the equity market? A hot market like this, I would say not much.

Update: BKX index

After a fake breakdown, financials are breaking out to the upside, which is very bullish for the general market.

Updat: TALX

Update: CTRP

One more reason you should never let the breakout play go back to its trading range. Stop out at $54.

Open

As I said in the newsletter, we are overbought. This morning we can Nasdaq is leading us to cool off a bit. I don't think this pause will be big or long.

Chart BOOM

Update: BOOM

I have difficulty upload the new chart. But whenever I see this type of candlestick, I sell at least half of the shares.

TALX

I brought it up over MSN @ 33.4 this morning.