Wednesday, February 22, 2006

Long Candidates - 2/22 Close

Before I get to the candidates for tonight, a mention that nothing has hit the short screen on the last three sessions. Could there be a pullback coming in an overbought market?

Big up day for the market. I'm rejecting 42 candidates tonight, so instead of showing all the reasons, I'm just going to post one typical pass.

Pass: LECO. The retrenchment period is too short to support a 4.92% gain in one day.
BUY: CBSS on big up and big volume after a three month retrenchment. Sell target at $52.70.
BUY: CG, although volume doesn't floor me.

BUY
Entry
Exit
Current
Change
FRT
68.80
72.24
70.00
1.7%
CBSS
50.19
52.70
50.19
0.0%
CG
48.60
51.03
48.60
0.0%





PASS
Entry
Exit
Current
Change
BUCY
62.55
65.68
63.53
1.6%
CLI
45.10
47.35
47.56
5.5%
CP
51.07
53.62
52.48
2.8%
LECO
46.73
49.07
46.73
0.0%

I said:
Pass: CLI. I love it on 2/15. Now, I'm worried that there's only 30-40 cents before resistance.


I meant $2.40 before resistance. Wow. I missed the boat on this one, but I still feel like 2/15 was a much better entry point.

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