Monday, September 22nd 2014 - 09:16:17 pm

Daily Stock Picks Report Archive

The Daily Stock Report for 2009-02-01
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The Daily Stock Report for 2008-12-18
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The Daily Stock Report for 2008-10-27
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The Daily Stock Report for 2008-10-16
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The Daily Stock Report for 2008-10-14
The Daily Stock Report for 2008-10-13
The Daily Stock Report for 2008-10-12
The Daily Stock Report for 2008-10-09
The Daily Stock Report for 2008-10-08
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The Daily Stock Report for 2008-10-02
The Daily Stock Report for 2008-09-30
The Daily Stock Report for 2008-09-29
The Daily Stock Report for 2008-09-28
The Daily Stock Report for 2008-09-25
The Daily Stock Report for 2008-09-24
The Daily Stock Report for 2008-09-23
The Daily Stock Report for 2008-09-22
The Daily Stock Report for 2008-09-19
The Daily Stock Report for 2008-09-17
The Daily Stock Report for 2008-09-15
The Daily Stock Report for 2008-09-14
The Daily Stock Report for 2008-09-11
The Daily Stock Report for 2008-09-10
The Daily Stock Report for 2008-09-09
The Daily Stock Report for 2008-09-07
The Daily Stock Report for 2008-09-05
The Daily Stock Report for 2008-09-04
The Daily Stock Report for 2008-09-02
The Daily Stock Report for 2008-09-01
The Daily Stock Report for 2008-08-29
The Daily Stock Report for 2008-08-26
The Daily Stock Report for 2008-08-22
The Daily Stock Report for 2008-08-20
The Daily Stock Report for 2008-08-19
The Daily Stock Report for 2008-08-18
The Daily Stock Report for 2008-08-17
The Daily Stock Report for 2008-08-14
The Daily Stock Report for 2008-08-13
The Daily Stock Report for 2008-08-12
The Daily Stock Report for 2008-08-11
The Daily Stock Report for 2008-08-10
The Daily Stock Report for 2008-08-08
The Daily Stock Report for 2008-08-07
The Daily Stock Report for 2008-08-06
The Daily Stock Report for 2008-08-05
The Daily Stock Report for 2008-08-03
The Daily Stock Report for 2008-07-31
The Daily Stock Report for 2008-07-30
The Daily Stock Report for 2008-07-29
The Daily Stock Report for 2008-07-28
The Daily Stock Report for 2008-07-27
The Daily Stock Report for 2008-07-24
The Daily Stock Report for 2008-07-23
The Daily Stock Report for 2008-07-21
The Daily Stock Report for 2008-07-20
The Daily Stock Report for 2008-07-17
The Daily Stock Report for 2008-07-16
The Daily Stock Report for 2008-07-15
The Daily Stock Report for 2008-07-14
The Daily Stock Report for 2008-07-13
The Daily Stock Report for 2008-07-11
The Daily Stock Report for 2008-07-10
The Daily Stock Report for 2008-07-09
The Daily Stock Report for 2008-07-08
The Daily Stock Report for 2008-07-07

Daily Stock Picks Newsletter from September 4th, 2008

Let's review some of the stock picks that we've been talking about.  I always use stock charts everyday to do my analysis as a primary One of the first stock picks, a bullshort, MITI that I talked about  over the last two weeks in our stock newsletter, The Daily Stock Picks Newsletter hit a high of $7.84 here last week and hit a low of $4.99 today, which my stock charts showed was my target price to cover.  I covered that stock pick at an average price at around $5.33.  My goal is to educate you in the stock market and with trading strategies.  Selling short is one technique I use.   The profit potential between the high and low in this stock was 56%. . The profit potential between the high of $7.84 and low of $4.99 is over 56% and of course you usually don't get most of that-- you only get part of that maybe half at the most.  Which I got around 20 to 22%. 

Let's take a look at some other stock picks in the bullshort category that I have I sold short.  STSI is a stock pick that I recently posted that I am selling short today.  This one is a little dangerous...the stock charts show it could continue to go up.  The stock dropped as low as $3.45 rebounded $3.75 at the close.  Typically, a strong close like this on low-priced stock could mean that the stock could move up.  Taking a look at a two-year stock chart of STSI we find the stock  at a price of around four dollars.   I'm hoping, of course, this will drop without having to run up because I am selling short the stock.  I am looking for a target price of under three dollars to cover and I will keep an eye on it and see how that works out.   

Another stock pick I am selling short is CRD.B, Crawford & Company class B shares.  I did not see the stock chart when it hit over 16 earlier in August.  It then dropped down to about nine dollars I saw the rebound appear to $15, checked the stock charts and I shorted this a few days ago average price of $14.84.  My target price to cover is about $12 maybe a little bit lower.  It looks like it can take a little bit of time probably another week or so to get there. This is considered short term investing.

 I shorted this stock pick , STSI, yesterday and covered it as a day trade.  (Day trading is generally considered as an opening and closing transaction in the same day.  You can buy a stock first (referred to as buy long) and then sell hopefully at a higher price for a profit.  Or you can sell short a stock first (short selling) and then buy to cover at a lower price for a profit).

I shorted the stock again today and I'm looking for about $3.25 and this would be a nice little profit. 

Here is a review on the stock pick, SOLF.   I talked about this over week ago.  I tried to sell short the stock over $20, but could not find the shares to borrow or short.  The stock made a real nice drop from $20 to 14.  That's about 43% profit potential on that stock pick.  Bullshorts, a technique that uses short selling, are working really well right now and I think they will still continue to work well.  There is the right amount of fear and speculation and I call it a Goldilocks "just right" environment to use this technique. 

Let's review some other stock picks.  The agricultural chemical stocks.... take a look at MON, Monsanto again.  We see the lower lows lower highs in the chart.  Let's try to find the right scale for you guys to look at.  Here's MOS, Mosaic ... here's that pattern of lower lows then goes up to lower high (than his previous high) then a lower low to that previous low goes on down and down.  They will eventually I think these stocks are coming to a point where you can get a resistance. 

I think as far as MOS, Mosaic goes that price is probably somewhere around 70 bucks so we could have a ways to go before we get some support.  I think Mosaic can be around $70 before its safe to jump in the water.  Let's take a look at Monsanto again I think we could easily start getting some support around $100 maybe a little bit lower so we'll keep an eye on that one too give you an alert for potential purchase.  Here is the stock pick AGU, Agrium...it is another agricultural chemicals stock. 

This stock could easily go on the mid 60s before we start heading up so set an alert on this one.  Here' is POT, Potash.  The dangerous situation here today as we got a lower low from that previous low so this is not done going down.  This looks like there's more downside to it.  Let's take a look at some coal stocks which is energy-related and yet it is related to the commodities.  This could have support some around here, $35-36.  Let's take a look at Foundation Coal.... this one could drop down here to low 40s before you start considering purchasing this as a long position.  Here's JRCC, James River Coal. 

This is the same sector and it looks a little bit stronger than the other two.  One more coal stock is MEE, Massey Energy.  I am not sure if this is done going down yet but again this is the same category, another coal producing company.  Take a look at it.  Here's a stock to alert you as a potential stock to short, AFAM.  That's a real sharp break here below this uptrend here.  It started back here in April around $17- $18.  It just came up to about $46 here a few days ago and now we are at $40. 

You really don't have to know the reason or the news that dropped it down except to watch the  stock chart.  The charts show what people are buying or selling and these indicators, if you read about these indicators, are really measuring the amount of buying and selling pressure through a given period of time.  So this is an interesting possibility as a short the way I see it.  So if you look at this from a distance you can look at this chart and say wow this could easily drop another five or six dollars.  If it bounced back up this is can be a trading type of stock to trade in a swing trade.

Let's take a look at a different style of  stock charts.   Let's look at a large cap stock.  Here is American Express, here's a five day moving average started to turn up pretty fast.  That's a good look in a chart.  That could be a possible long purchase a according to the chart.   The crossover occurred a few days ago at $37.92.  You can see that on the right highlighted in white.  Let's take a look at another stock, that is Wal-Mart.  They have about a 1.6% dividend.  This is not really been a fast-moving stock-- it has billions and billions of shares in the companies stock that was issued in the float so it doesn't really move too fast.

The theory is that during economic recessions people go to these discount stores.  Let's take a look at Target stores.  That's really strongly up.  We talked about that on the previous video clip, this is a really good look in that could be sustainable that's a pretty steep rise so you start watching out for the kind of stock chart to turn flat and turn down.

A couple of these energy stocks GMXR, CVX and many more stocks in this sector exhibit the same pattern on the stock charts.  We might have seen the bottom there in early August.   I think there's a purchase in here somewhere pretty soon.  Yeah, I'm looking at this Conoco Phillips.   I'll have a look at Exxon Mobil.  Yeah, this looks like this could be a bottom that we saw and I am just going to watch these to see if we do really get a bottom. 

The last thing I do before I go to bed is to look at these stock charts.  I like to get visual image of what stocks are doing.   I do look at the indices like the Dow Jones.   The stock chart is going flat, not doing too much.  Probably, this starts moving up and it is below that channel that we were in.  I just like to get a mental picture of that although it doesn't tell me that much.   The NASDAQ composite also is a little on the negative side. It is a little more oversold so it had a little bit more to drop as I've said a couple weeks ago.

Have a good day tomorrow and I'll report again on the stock pick newsletter  tomorrow night

Mitch King

Y'all have a good day and we'll talk tomorrow

 


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