Wranglers Trading Zone

[wrangler]

Four stocks to keep your eyes on
CNXT : I have a position in this one
ZHNE : I have no postion for now
MSPD : I have no position for now
BKHM : I have no position for now

Goodluck trading

[wrangler]

AP
Sector Wrap: Solar Cell Makers Rise
Tuesday October 23, 4:20 pm ET 
Shares of First Solar, SunPower, JA Solar Rise to All-Time Highs on Analyst Comment

NEW YORK (AP) -- Shares of solar cell makers rose Tuesday, with First Solar Inc. climbing to an all-time high after a Lehman Brothers analyst began coverage with an "Overweight" rating.
Vishal Shah set a price target of $180 on First Solar shares, and said the company's profits could triple or more over the next five years.

"Our channel checks with systems integrators in Germany and Spain suggest demand for First Solar's products far exceeds supply," Shah wrote in a client note.

First Solar shares closed up $13.26, or 9.7 percent, at $150.16, after setting a high of $152.60 earlier in the session.

Shah took a "positive view" of the solar sector, saying demand will remain strong through 2008. That will result in continued high prices for polysilicon, a key material used in solar cells and semiconductors.

Companies with lower costs and access to polysilicon will have a major advantage, Shah said.

The analyst upgraded shares of SunPower Corp. to "Overweight" from "Equal Weight," and initiated coverage on JA Solar Holdings Co. Ltd. at "Equal Weight."

JA Solar shares advanced $1.20, or 2.2 percent, to $55.01, and peaked at an all-time high of $55.60.

SunPower shares rose $6.62, or 6.5 percent, to $108.37. Earlier in the session, the stock peaked at $109.89, an all-time high.

Shares of Suntech Power Holdings Co. Ltd. gained $1.02, or 2.2 percent, to close at $48.28, and touched an all-time high of $48.87 after Merriman Curhan Ford analyst Brion Tanous started coverage with a "Buy" rating.

Tanous said Suntech will increase its manufacturing capacity and is experiencing strong demand in North America and Europe.

Elsewhere in the sector, shares of LDK Solar Co. Ltd. added 54 cents, to $40.84.

MEMC Electronic Materials Inc. advanced $3.92, or 6.6 percent, to $63.09.

Shares of Solarfun Holdings Co. Ltd. rose 40 cents, or 3.1 percent, to $13.53.

Evergreen Solar Inc. added 2 cents, to $9.60.

[wrangler]

Biotech stocks with high short interest showing what percentage of their float

Ticker
Company
Percentage Float Short

DNDN Dendreon 38.65%
SLXP Salix Pharmaceuticals 31.19%
CVTX CV Therapeutics 27.66%
MEDX Medarex 26.43%
MNTA Momenta Pharma 25.72%
SCRX Sciele Pharma 24.71%
FLML Flamel Tech 23.84%
MNKD Mannkind 22.99%
ENZN Enzon Pharma 22.72%
VIAC Viacell 22.57%
GTOP Genitope 21.97%
PPCO Penwest Pharma 21.87%
AGEN Antigenics 21.83%
AGIX Atherogenics 21.65%
GTXI GTX Bio 20.64%
MDVN Medivation 20.23%

[wrangler]

UGNE.OB : would you call this chart a double bottom

[setravis]

UGNE.OB : would you call this chart a double bottom

Wrangler,
I don't know about anyone else.
I most definitely do !

Double Bottom (Reversal) Pattern
The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between.

Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.

It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.



Examples from Stock Charts.......

[wrangler]

Thanks Setravis for your reply
It could be the beginning of a double bottom or could be sideways trend. On chart I posted with this reply you'll see two resistance levels that I drew that it would have to break before I consider it a new trend happening.
In your examples you posted it showed two months between each bottom and UGNE has only one that's probably why it's hard to tell if it's a double bottom.
I'll definately be watching this one and keep posting as the results become more clear.
Thanks again for your reply

[setravis]

Thanks Setravis for your reply
It could be the beginning of a double bottom or could be sideways trend. On chart I posted with this reply you'll see two resistance levels that I drew that it would have to break before I consider it a new trend happening.
In your examples you posted it showed two months between each bottom and UGNE has only one that's probably why it's hard to tell if it's a double bottom.
I'll definitely be watching this one and keep posting as the results become more clear.
Thanks again for your reply

Wrangler,
The time period between troughs can vary from a few weeks to many months, with the norm being 1-3 months. So the 2 month time frame to form this pattern is still valid.
I'm going to post another chart ,take a look.

A valid BreakOut....... Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.
Breaking resistance from the highest point between the troughs completes the double bottom. This too should occur with an increase in volume and/or an accelerated ascent.

Broken resistance becomes potential support and there is sometimes a test of this newfound support level with the first correction. Such a test can offer a second chance to close a short position or initiate a long.

It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows.

[wrangler]

Get your mind off stocks for a little bit
http://youtube.com/watch?v=FI76sKLMkMU

[setravis]

 
I took in the video. Did relax my mind for the time span.
Got it off all those numbers and Ticker Symbols....
I'm going to call it a night.
Take care, good luck with you trading.
Have a great weekend !

Regards,
Your fellow trader @ 3SOF
setravis

[wrangler]

I took in the video. Did relax my mind for the time span.
Got it off all those numbers and Ticker Symbols....
I'm going to call it a night.
Take care, good luck with you trading.
Have a great weekend !

Regards,
Your fellow trader @ 3SOF
setravis

Glad the video relaxed your mind,body and spirit for a while. I know sometimes when I've been really busy looking at charts,,news and the market during trading hours it's easy to get burned out nad need to take some time off to relax and get it off my mind but I'm back to do some serious trading. I've been doing some trend studying and will beging to show examples on my thread today I'll be showing an example of an earnings play that is consider one of the top trends to play.
To all that might follow this I'm still trying this system out and if you decide to do any of these plays do it based on your own DD and TA.
This first one will be an example only of what is going to followed by.
Goodluck trading

[wrangler]

 To begin playing the earnings play I'll be checking to see what sectors are hot
http://moneycentral.msn.com/investor/StockRating/srstrend.asp
After seeing which sectors is hot I'll be seeing what tickers is in the top five
I'll start with energy
http://tinyurl.com/35u5wu
After reviewing it I decide to choose ARLP : Alliance Resource Partners LP because it shows exactly what I should be looking for if I had bought this stock two or three weeks ago. Also it was at the #2 spot of the top five. When playing the earnings play you buy the stock two or three weeks before earnings because that is when it begins to climb if it is favorable to show a good report.
Tomorrow is when it reports
Alliance Resource Partners, L.P. Earnings Conference Call (Q3 2007)
Scheduled to start Mon, Oct 29, 2007, 10:00 am Eastern
The only differance is if I had bought this stock two or three weeks ago I would have sold it Friday for the play.
A rule for playing earnings is to sell before the annoucement. Very important that you follow this rule. Sometimes even with a good report it can fall because usually the price is figured in before the annoucement of what it should be and might begin to fall back down.

I'll be posting another example later that shows unfavorable results and it is one I now hold and will as the rule goes to sell before earnings which is thursday so I'll be selling it between Monday and end of trading on Wednesday. Just hoping the loss will be minor
Be back later

[wrangler]

CNXT : This stock I have had since 7-17-07 bought @1.44 and has had a roller coaster ride since. When I first bought, it dropped and has since climb back to my buy price and should have sold it but I was hoping for something that didn't happen and now has dropped back down. Earnings is Thursday and chart will show that I'll probably be taking a loss on it but I'm getting better educated at how earnings play works and hope to do better in the future. I'll be selling this stock Wednesday at the best price I can get.
The way the price has fallon the past week shows very unfavorable signs of a bad report.

That is why it is also very important to use stop losses in every trade

[wrangler]

KALU : KAISER ALUMINUM CORP
This will be paper trading for my first earnings play. Their has been insider and institutional buying in the last quarter. Also was upgraded by Bear Sterns on Oct. 3RD and is now trading in the quiet zone as I call it and will wait for resistance line to be broken to enter and will use stop loss.
If you decide to play this do your own DD and TA based on your own decision
Remember I'm only paper trading. This is still in the learning stage
Earnings according to yahoo is Nov. 14TH sometimes their not accurate with their dates

[wrangler]

Another possible earnings play

STP : SUNTECH POWER HLDGS (NYSE:STP)
Earnings Nov 15TH
Broke out to new highs
Record volume on break out
This happening two weeks before earnings. The chart is talking

[wrangler]

CNXT : This stock I have had since 7-17-07 bought @1.44 and has had a roller coaster ride since. When I first bought, it dropped and has since climb back to my buy price and should have sold it but I was hoping for something that didn't happen and now has dropped back down. Earnings is Thursday and chart will show that I'll probably be taking a loss on it but I'm getting better educated at how earnings play works and hope to do better in the future. I'll be selling this stock Wednesday at the best price I can get.
The way the price has fallon the past week shows very unfavorable signs of a bad report.

That is why it is also very important to use stop losses in every trade

May decide to hold this stock thru earnings since I'm losing in it anyway.
Reason : 8 analysis is covering this stock. Four of them suggest holding. I've been holding since 7-17-07 and have seen it drop to 1.05 and come back up so why give it up now.
1 strong buy
1 buy
4 hold
1 sell
1 strong sell