Monday

Sorry for not being able to post for the last couple of the days, I had been travelling, but it was some week. The retest came and it came with quite a bit of strength. I guess as skeletons keep falling out of sub-prime market in US we would keep seeing this wild moves. If you are a seasoned trader you can take advantage of the moves and can make a packet.

One thing I have been doing is keeping an eye for stocks that defy the pull of the bears too much and pick a small quantity of them. This way I will have my foot in the door if it takes off and it fails then stop loss would save me taking big hit.

My scan picked up the following stocks.

MGW
It seems to have broken its downward spiral and has made a breakout. There is good support at $2 and at $1.92. It has hit the resistance at $2.26 and if it breaks out of this I might take a small position in it. The next resistance would be at $2.27. There is a spike in buying which is good but I would need more of these.





AGK
Its been forming an ascending wedge for quite some time and for the last three days the volume has been positive. If it breaks out of the resistance line at $16.40 then it would be a good buy.



My scan also picked up BOL, PPX, BBG but they are all in the same group as MGW, there is strength but they all need confirmation.

Stay safe.