Once again I must repeat stock charts.  On March 29, 2007 I posted this chart when it was trading at $27. It then ran up to $70. Well the stock pulled back and I bought more at this level. I will keep an eye on it if it decides to break the $50 level. Im hoping a retest of old highs in the up comming year.

MBIA is in the business of insuring mortgage backed securities. UH OH! Well, Im not sure if Im late to this short party but I dont think MBIA is going anywhere but downward. The stock was around $65 around October and has since fallen off a cliff. Yesterday it closed around 18.63 after gapping down earlier in the week on volume of 53 million shares, nearly 10 times the average volume. I’d still like to short this stock on any upward movement. I really think this company is in for a tough 2008. Cramer has mentioned that a lot of companies will be going under. Could this be one of them? Go Giants !!

Picked up a few hundred shares of N at 35.00

Keeping a tight stop loss at todays low of 34.34

(update - sold all my position at average price of 37.84

Chart looks great. I love gap ups as everyone knows. I really really really believe that this stock will be trading above 65 in the next 30 days. If not, then it should come down to 55 where I will back up the truck like Cramer would say. Lets keep an eye on it.

Has anyone seen RICK???? Geez, charted it at 10

I profiled Inverness Medical back on Sept 6 when it was traded around $48 a share. A few days later a guy by the name of Jim Cramer did a whole segment on the stock. Anyhow, the stock has had a nice run since then reaching $65. The stock has pulled back close enough to the long term trend line that makes it attractive again. The same reason I suggested it in September still apply. Here is the chart:

I loaded up on a bunch of calls on Friday when I was in St.Thomas.  I am really hoping that it holds 70 and where there seems to be some good support. I am keeping a close eye on this. Any chance where my calls applicate 100% I will take the profit. I also bought a 100 shares at this price as well. Lets go back to 100! Or will the ship sink?

As everyone that has been reading this blog knows that I am a big fan of ICE, ICE is one of my Favs. It is almost at my $200 target which took longer then I expected. Well if your not on it yet, I dont think its too late.  Its not even touching overbought territory yet

On another note. I recommended RICK on FEB 17th. It has now more then Doubled. It looks overextended and once the price comes down I shall post the chart. Congrats though to who ever got into it.

Its been a while but I am back. School has been a killer and I have been in the library till 11 every night giving me no time for charts. Also I have been very distraught over the BIDU puts that I had. Cant let emotions take the best of you but sometimes they do. These couple of weeks off let me get my head straight.
Well CF is a stock a mentioned here about 30 pts back or so and I believe we can get another 30pts out of this stock in the coming months. I took a few calls today. I am going on a cruise next week so once back charts shall start flowing.

GOOD TO BE BACK

Home Depot is a stock that I have talked about before.  It appears that this stock is stuck in a downtrend and shows no signs of reversing.  Economists predict that the housing recession is going to continue into early 2009. Home Depot has struggled ever since the housing market topped in early 2006. It has also lagged LOWE’s for awhile, but LOWE’s is getting crushed as well. Here is the chart.  I think the stock moves lower.

According to Yahoo Finance Cree, Inc. develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN), and related compounds.  The charts looks to be forming a right shoulder. It hard to tell where this stock is going but if it breaks the support line again, we could see some serious downward action.  Here is the chart:

RIMM has been one of the best stocks in the market over the last couple of years. The stock now appears to be at a critical point.  It somewhat broke support today but then again most stocks got crushed.  The stock is worth watching. I’d like to see a big reversal and at the close on big volume to get me back in it.  If the stock closer lower tommorrow on big volume (I think this is likely) then RIMM is done for awhile. Trading this stock is going to be difficult because they report earnings on Dec 20.  That report may give us a better idea of where the stock is heading. Here is the chart:

Julia writes in on First Solar and wants to know if I like it better than Mastercard.  Short answer : No.  Mastercard is one favorite stocks in the market. I would not chase FSLR. It’s up from $25 to $250 this year !!!! . The stock looks toppy to me. There is a negative divergence between price action and MACD. If you look closely, the last 30 points the stock has risen the lower the MACD line. That MAY indicate the party is over. I would stay away from FSLR. If someone told me to choose the next 30 points in the stock, I would say it would be downward.  Here is this unbelievable chart:

PODD - Insulet Corporation, a medical device company, engages in the development, manufacture, and marketing of insulin infusion system for people with insulin-dependent diabetes in the United States. It offers OmniPod Insulin Management System, which consists of its OmniPod disposable insulin infusion device and handheld wireless personal diabetes manager. The company’s OmniPod Insulin Management System provides with a diabetes management solution, which provides lifestyle and other benefits and to expand the use of CSII therapy. I like the chart of PODD. Steady uptrend and looks like its a buy at it current pivot point.  Probably a recession proof stock as well.