[goodtyneguy]

I took small position in the shipping stock GLBS near the close on Friday just gone on the secondary pull back entry where it has been getting daily support.

It's far from an A+ opportunity as the volume on the BO does not quite meet the requirements and according to the Ichymoku cloud it still has a little work to do to clear resistance. I entered this one as an accumulator in stage one rather than expecting to see it immediately evolve into a stage 2 mainly because of it's 10.87% dividend yield. I don't mind waiting if I'm getting paid and can look forward to higher pay outs.... if all goes to plan of course.

If GLBS clears its resistance in Oct/Nov (which you mentioned) and breakouts above $3.50-$3.60 range with some good volume, I think it will be in pretty good shape for a nice Stage 2 breakout IMO. I would like to see that MA move up some more and a nice volume spike. Marine Transpo has been a good sub-group for me recently (BALT, EGLE) so I hope GLBS can continue the trend.

BTW, I checked Google Finance and Dividend.com and it said that GLBS suspended divs in 2012. Do you have info on a 2013/2014 payout date? Just a heads up as it sounds as that is a tentpole of your strategy.

Good luck.

Just checking to see if you guys are awake .... yes you're right the last divi paid was in May 2012. I've had it on my watchlist for a couple of months now and for some reason thought I had verified it when I initially found it. So thanks for the heads up on that one, may have to cut it loose next week.

[theory6453]

My pops thinks FNMA is a Buy and poised for another major move. I think it’s possible it could make a Stage 2 continuation move but I’m not 100% convinced so I thought I would throw it out to the group…

Pros:
Mortgage Finance in strong Stage 2
2x avg volume – last week’s volume was 104M shares compared to 50M 4-week average
MA- Rising and Above 30-week Avg
Relative Performance – Rising and Above Zero Line
No Overhead Resistance
Stochastics moving upwards

Cons:
Financials Sector – has not broken MA but also did not clear previous highs – possible Stage 3A
P&F Chart is Bearish – Price Target = $0
Highly volatile

It looks as though it broke thru its upper resistance last week but then closed just under it. I’m thinking if the volume continues to be good and it can clear $1.55-$1.60, I might buy in for a SMALL position.

Curious to hear what others think…

[isatrader]

My pops thinks FNMA is a Buy and poised for another major move. I think it’s possible it could make a Stage 2 continuation move but I’m not 100% convinced so I thought I would throw it out to the group…

As the Stage 2 continuation move price is so far away, I think this is a question of whether to buy the pullback and recent short term reversal that it's had, or possibly looking to nearer term resistance from the July/August highs that it failed at three times up to the 1.79 level for new shorter term breakout level. I haven't done many pullback entries, so don't think I should give a view on this one other than to attach my weekly and daily charts to compare with, including the percentage based P&F chart that shows the near term break out point.

[anupam384]

isatrader, what are your thoughts about the industry. I read and was told that the industry is out of gas for a while. I bought at the wrong time (may be around the same time as you) and sold for a loss. I take full responsibility for my decision.

I think the fact that you sold out for a loss already says to me that you weren't approaching it as an investor position, as it hasn't been anywhere near the investor stop loss under the Stage 1 range. So it sounds like you are trading it, and not investing in it, and hence you shouldn't be playing Stage 1 stocks really, as the majority of trader positions should be stocks that are already in Stage 2 on pullbacks like your IDRA pick, or on continuation moves like CCIH, which I highlighted before Thursdays open on the trader thread http://stageanalysis.net/forum/showthrea...14#pid1814

You are right. I should not have bought it since it was not the right entry. I was in two minds and was influencde by a Seeking alpha article that came out back then. Live and Learn I guess.

Having said all that I have n't asked if you are in the Pharma business or some related field? In which case I'm all ears

I wish I was in Pharma business.I am not even close. I was talking from a fundamental point of view. But I sincerely believe if this stock goes up the way I think would, even Stan's exit strategy won't come into play. Lets hope for the best.

Anyway I got two more stocks on my watchlist. RNN and GNK.

I like RNN better since GNK is in a pullback on high volume (Not sure what the reason is).
GLTA

[isatrader]

With the multiple breakdowns in the individual stocks today (Tuesday 8th) and market breadth negative signals building up, I personally think it's time to shift the focus away from Stage 2A breakouts in the investor watchlist and start looking for potential stocks to invest in that are already in early strong Stage 2 advances and beginning to pullback.

There's a saying that I've heard before that says "what was first will be last," and I think this is appropriate as that is very much what we saw today with the strongest sectors of late getting hammered by profit taking etc.

The method is about focusing on the strongest and weakest sectors for longs and shorts respectively, and as we are still in an uptrend overall, I think that the current sell off could provide some opportunities to get into some of the better Stage 2 advances on a pullback in the comings days/weeks. And if the selling intensifies, and the markets look to be breaking down into Stage 4, then we'll need to focus more on the short side of the market.

So, one of the strongest sectors of the last six months has been the Shipping sector, with multiple breakouts into Stage 2A, that have run sharply higher on heavy volume. Multiple examples have been brought up on the thread by members like EGLE, DSX, BALT etc, but the one with most impressive volume has been DRYS, whose volume built strongly week by week over the last few months, as it moved around 70% above the Stage 2A breakout level without a single significant pullback. However, a more significant pullback looks to be beginning now and so I have highlighted the pullback zone that I'm targeting between 2.83 and 3.10. But that could be well off, so the price action will guide my decision ultimately, as to whether there's an entry point or not. In the mean time, I'm going to spend some time searching for more stocks from the strongest sectors that meet the method requirements and would make good pullback buys. Attached is the charts.

[goodtyneguy]

TOL is probing the stage 4A zone today, I got in on the BD looking for a quick trade down to the near term support at 28.40 assuming the debt ceiling negotiations are going to go on until the eleventh hour.

   

A one to keep an eye on if the market breadth indicators signal a change in trend, it has the classic "bigger the top the bigger the drop" look about it.

   

[goodtyneguy]

JRJC another Chinese ADR suitable for the watch list.

   

Would have made a great low risk investor play but I'm afraid we've missed the 2A break out so if interested will have have to settle for a continuation buy.

   

Chartmills' sector categorisation is more appropriate than DJ US indices and most stocks in their sector have RS above 70 with many showing similar patterns.

[isatrader]

JRJC another Chinese ADR suitable for the watch list.

Would have made a great low risk investor play but I'm afraid we've missed the 2A break out so if interested will have have to settle for a continuation buy.

Chartmills' sector categorisation is more appropriate than DJ US indices and most stocks in their sector have RS above 70 with many showing similar patterns.

You must have missed it in my post last Friday when I highlighted the continuation breakout http://stageanalysis.net/forum/showthrea...29#pid1829

Another one that I highlighted at the weekend was ALTI, which has had a great week against the market sell off and is currently 60% higher http://stageanalysis.net/forum/showthrea...52#pid1852, so if you missed it, it could be one to keep on the watchlist to see how it reacts on it's first significant pullback.