I frequently scan for stocks and would like to keep track of my picks right here on RyanFitzpatrick.net. Check in from time to time to see what I think is the next mover.
Typically I play around with stocks anywhere from 1 to 10 dollars per share, but I'm willing to play anything that looks like it can make some money. I am also primarily a Swing Trader (holding stocks from a few days to a week) using Technical Analysis (TA) as my main strategy.
I am still working on updating the site so please come back and check frequently. All stock picks will be posted below.
PALM on watch again 3/22/2010
Hope you all had a great weekend.
I'm starting off the week by looking at PALM. It appears as though its trying to base over 4$ now. Current PPS is 4.13.
PALM has been heavily oversold on recent news and earnings. I don't think PALM is dead quite yet. This stock could provide a nice ride over 5$ if others believe that the market overreacted on the recent news. There have been rumors flying around about a possible buyout and that there will be news later today, but there is no way this can be confirmed. It's mostly just people getting over excited. Either way this should be an interesting play.
Update: PALM mentioned on CNBC earlier. I think this is where the buyout rumors are coming from. See video below
Wow! First I want to talk about CMZ. This stock has made a nice move on some crazy buying volume! CMZ went absolutely nuts into the close. This stock was hanging around 1.09 to 1.11 for some time then right before the close some huge buys when through and pegged the close at the HOD of 1.16!! There was one trade for 3 million shares at 1.16. This could be an insider buy or something of the sort because it was over the ask and right at the EOD on a friday. A 1.16 close is over the most recent highs, which were 1.14. Something is going on with CMZ because the accumulation on it has been ridiculous.
Two other stocks I want to mention, but didn't have time to throw up on the site are APPA and SOMX.Both of these plays are risky biotech plays. As well all know things can change very quickly with these types of plays. All it takes is an FDA decision one way or another to dictate the price of a bio play.
I was watching SOMX all day yesterday after news came out that their drug(a sleeping disorder drug). It immediately spiked to 7.98 after trading in the 3.50 range just moments prior to the news. From experience I have learned that there is usually a spike then a rather violent sell off after news like this, so I waited. After watching SOMX trade in the 6.20 to 6.60 range for some time I decided it was time to make a move. I hopped in once I saw SOMX break its 2 hour long consolidation period to the upside. I grabbed some shares in the low 7.00 range and held on for the ride. I used the sell half method once I was up 1$ per share. I do this in order to relieve some of the pressure off of my principal. I was able to watch SOMX jump all the way to 10.02 yesterday and then again to 10.60 today. It seemed SOMX couldn't hang onto the 10$ share price so I unloaded the rest. The closing price today was 8.25. The sharp sell off is caused by profit taking for the weekend and because SOMX launched up so fast. That is one thing you have to be careful with when dealing with stocks that scream upward, always take some profits and never be afraid to take what you have and run. "There is no such thing as bad profit!"
The second bio stock I dealt with today was APPA . The stock of APPA tanked today from yesterdays close of 2.06 to a low of .85. This drop was caused by news that the FDA wanted to see more information before coming to a conclusion on APPA's drug. This wasn't a rejection from the FDA, but early on in trading the market treated it as one, so the price suffered. I saw this as an opportunity and once the price per share(PPS) was able to jump over and hold the 1.00 range I knew it could be good for a pop. I decided to hop in the low 1.00s and set a limit sell in the 1.35 to 1.40 range. APPA was able to break the 200 day MA (1.09) and hold that line throughout the rest of the day. The price eventually jumped to a high of 1.42, which I missed because I was away from the compute, but luckily I had my limit sells in place to get out with some nice profit before the weekend. APPA closed at 1.21, but keep your eyes on it because the hype of FDA approval might return.
CPF and CMZ winners today!! 3/17/2010
CPF is my big winner today! Picked yesterday at 1.57 and is now currently trading at 1.94. Watch for it to test the 2.00 resistance. The low 2.00s are going to be hard to break because CPF has been on a big run recently, beginning to be overbought and the last highest high made in January was in the 2.10 to 2.20 range. The 200 day MA is also coming down on CPF at its current 2.25 price. I think CPF will have a really hard time busting through anything over 2.15 to 2.20 in the near future. Watch for CPF to cool off and consolidate. There was a solid base made in the 1.40s and the 1.60s might provide some nice support as well. Its been one hell of a ride! Do NOT be afraid to take some profits! I would sell part of my position at 2.00 to take some pressure off of my principal.
CMZ is over the initial resistance of 1.02, but is not fighting to break and hold over 1.04. It has made a decent gain since yesterdays pick price of .99 (currently at 1.03). The HOD has been 1.05 so far, but it just couldnt hold over 1.04. CMZ is still in good shape and if it can hold up the 1.00 range and then gain some momentum then it shouldnt be long before we say "bye bye" to 1.04.
Dear was a pick I had a few weeks ago. I had thought it was forming a base in the 1.20s and it looks like I was right. It just spiked to 1.71 today! This is a very volatile stock that moves on light volume so use caution and take profits when available.
Congrats to everyone who decided to jump in!
Back From Vacation and Ready to Trade! 3/16/2010
After some time off for a vacation I'm back.
I have a watch. CMZ currently trading at .99.
Support:.92-.95 Resistance: 1.02(50 week moving average) 1.04 (200 day MA)
If CMZ can break over 1.02 and 1.04 this could move. Im just watching now because it might need to reset after a move from the .80s to 1.00
CPF is another one on watch. Current PPS is 1.57. Support is around 1.50 and 1.40.
Continue to keep your eye on PALM as well. It is trying to find a base around 5.50 and hopefully starts moving up from there(currently at 5.55).
Friday's Gamble Play Update 3/9/2010
Scroll down and you can see I had WAMUQ picked as a gamble play on Friday at .385. I couldn't believe my eyes when I opened up my account today to see WAMUQ at .71 premarket! Some times the cards just fall your way.
The chart is looking way overbought, it appears as though it might come down some, but at this rate who knows what it'll do.
PARD - Poniard Pharmaceuticals, Inc.
Keep PARD on close watch. Currently at 1.75. The day and week charts both look like they could be priming up for a move in the near future. The MACD on the weekly is just begging to cross upward. On the day chart it looks like PARD might be forming an ascending triangle (higher lows with relatively similar highs each consecutive trading day).
Support - 1.62 (20 day MA) and 1.50 (PARD has bounced off this level numerous times)
Resistance - 1.80 (50 day MA) then 2.00.
Friday's Gamble Stock Plays 3/5/2010
Time to have some fun and roll the dice! These are high risk plays, use only what you can afford to lose. Here are some quick stock picks. Penny stocks, you got it.
JUNP and IRSN making some sweet gains today! JUNP up to .018 and IRSN up to .395!
Update on one of my prior picks MIPI. Picked at 1.44(see 3/2/2010 post) currently 1.82!!
EDIT: Make that 2.08!! High so far is 2.30. Unreal! Stocks On Watch For March 4, 2010
Wanted to list a few stock picks. Penny, yep I said it penny. It's not too often I do it, but today I have a penny stock on watch(JUNP).
MIPI JUNP(high risk gamble) CRXX SIRI
Update!!! JUNP is now up 58%. Not bad for one days work.
I Have Another Stock Pick For You 3/2/2010
I've been watching MIPI for a few days now. Current price per share(PPS) is 1.44. Look at 1.50 to provide some resistance. MIPI has been on a fairly large downtrend since mid October. It was trading right around 6.00 in October and is now at 1.44. This stock could be a decent long play. Particularly the MACD on the weekly chart caught my attention.
Quick Stock Alert! 2/25/2010
I wanted to give a quick alert on BRCD. I don't currently have time to put together an annotated chart, but I wanted to bring this, in my opinion, undervalued stock to light.
The downgrade was "due to disappointing IP execution, lack of revenue catalysts and material strategy changes." A $6 price target has been set on the shares, down from $10 previously.
Brocade (BRCD) had a 23 percent drop on Tuesday due to the downgrade. On Monday posted a fiscal first-quarter profit of $51.1 million, or 11 cents per share, reversing a loss of $23.9 million, or 6 cents per share, in the same period a year earlier. Revenue rose 25 percent to $539.5 million from $431.6 million.
Some potential value in this stock. Keep your eye on it.
Keep a close watch on DPTR (1.37) as well.
New Stock Pick 2/24/2010
I have DEAR on a close watch. Looks to be forming an Ascending Triangle. MACD is also starting to curl upward (bullish). This is a risky play so please use caution.
Support: 1.24 (200 day MA) and 1.20. Resistance: 1.30. Major resistance is 1.40 (and keep an eye on the 20 day MA)
See chart below for further comments.
First Stock Pick 2/19/2010
Alert onCPFat 1.39. At key resistance. Get over this and it could move. (See chart below)
EDIT: Closed at 1.40, this is over resistance and exactly what we want to see. Next week could get interesting. Have a great weekend!