Saturday, September 20th 2014 - 05:01:05 pm

Daily Stock Picks Report Archive

Daily Stock Picks Newsletter from August 12th, 2008

The bullshort chart  AFAM, Almost Family, a corrected hard today with a high of $44.40 and corrected to an intraday low of $35.80 for a 24% profit potential in the first day of a correcting bullshort.  I don't usually think about a target price to cover on the first day because I am usually so busy trying to bill my short orders.  After the stock starts correcting, I start looking at where it might go. 

At this point, it is hard to tell if this will go up a little tomorrow morning or just continue its selling pattern-which is the most likely possibility.  My first target price was around $34-35 but it almost got there today.

Look at APII, Action Products Int'l, has the classic bullshort pattern even though it is a low priced stock.  A few brokerage firms allow you to short a stock under $5.  With the increasing price and volume, I would guess tomorrow is a probable top in the stock price.

I am also watching these stocks TACT, NPSP, TWP and FSYS for possible short sales.

The airline sector really has made a big move and even though the daily charts look good on UAUA, ALK and DAL, I don't want the exposure of being long airline stocks (especially after a big run) when oil starts to rebound.

Keep your discipline with stop losses and position sizes that are relatively small. 

Have a great day.

Mitch King

www.TradeStocksAmerica.com

PS:  Saturday, August 23rd is scheduled 1 day workshop at my house.  Please email me at mitch@tradestocksamerica.com.

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Mitch King is the founder of TradeStocksAmerica.com.  All material presented herein is believed to be reliable but we cannot attest to its accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readers are urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports may change without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stocks cited above before or after this newsletter is prepared. Opinions expressed in these reports may change without prior notice.

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