Big Board Stocks - June 30

[J-Tea]

I'll be posting quite a few for the next week, and will keep adding to this list over the weekend.

A few things to note though:

1. I'm only shorting stocks or buying put options now. The market is quite bearish in my opinion, and I only feel confident betting on things going down. Therefore, my posts will reflect this. There are, of course, still many stocks that may be good long, but you may not find them in my posts.

2. Confirmation, confirmation, confirmation. Even though things are bearish, I think it's times like these when we need to stress the importance of confirmation before acting on any trades. As most of you will know, jumping the gun leads to losses more often than not in technical analysis, and some of my own mistakes have come from doing just that. (ex. JADE) Instead, wait and once you get confirmation, feel free to jump in with confidence!

3. Be disciplined! Buying and selling at resistances, or at least setting the appropriate stops at these levels is necessary. Again, the point of technical analysis is to have a somewhat systematic way of trading. Don't get greedy.


AND HERE THEY ARE!!!
***ALL CHARTS IN MY PUBLIC CHARTBOOK (link below) ***

AMSC - this one fell out of a steep uptrend with indicators that were perfectly matched for a fall. i had put options on this that i will trade out on monday when the PPS of the stock gets close to the resistance line on the chart of around $33. of course, you'll notice that there is more to come as suggested by the indicators, but as always, i think it's better to take profits and jump back in after a break of the key resistance line, and if in my case (when using options), jump in again at a lower strike price at that point. even if you're not thinking about getting in on this, i think this is a good one to look at the chart and indicators and the trendline, to see what kind of reasoning went into making the trade and betting that it would come down.

COIN - this is now below a key resistance line, and may fall further since there was a descending triangle made at a major top.

CHNR - getting close to a key resistance. won't act on it yet, but if this breaks the trendline, there may be a lot of downside left on this stock.

CFSG - nearing resistance with a H and S top that formed with a neckline that coincided with the ascending triangle top.

CMED - this one has been going UP very nicely, but will be watching for when it stops and reverses. this is one way i radar for potential shorts in the future.

CRME - out of a channel, but still on the 200 MA. if it breaks below the 200 MA, a short may be profitable here.

CRDC - below the 200 MA, indicators pointing down, but this is one of those stocks that moves widely, and recently had some pretty darn good news.

CSIQ - besides the obvious gap, i've noticed that this stock has been trading in an uptrending channel the past months. PPS is right on the lower trendline, so a break downward may be a great short.

HOWEVER>>>...

THE SOLAR SECTOR AS A WHOLE SEEMS TO BE RIGHT ON THE VERGE OF A MAKE OR BREAK SITUATION FROM WHAT I CAN SEE IN THE CHARTS... I'D WAIT FOR CONFIRMATION BEFORE ACTING ON THE SECTOR AS A WHOLE. STOCKS LIKE CSUN HAVE ALREADY BROKEN DOWN, BUT SOME LIKE DSTI ARE STILL WAITING AT THE APEX OF A SYMMETRICAL TRIANGLE. THE REASON I'D WAIT ON CSIQ IS THAT IT'S A SOLID STOCK, AND A SOLID COMPANY... SO THE PPS USUALLY STAYS UP PRETTY WELL, UNLESS OF COURSE THERE IS A VERY GOOD FUNDAMENTAL OR SUPPLY/DEMAND REASON FOR THINGS TO COME DOWN

DSWL - this one one that i was watching earlier last week too, and we sure did get a break downward. it moved a little too fast for me to grab options intra-day, since i was already in something else, but i'd recommend studying the chart on this one, along with indicators just as an exercise.

DSTI - symmetrical triangle right at the apex here, breaking below it would be a pretty big deal imo.

EFUT - almost at an all-time low, broke below a key resistance. may suggest more downside to come.

EJ - seems the china internet industry may be taking a hit lately, and certainly 2 - 3 Q's from now. this one seems to be trending down.

FSIN - this broke out nicely, and am just waiting for it to break on the downside for an equally nice short/put

FUQI - confirmed H and S top with a break of a the neckline on high volume. the pattern doesn't get as ideal as this for H and S top. good one to confirm volume and chart patterns.

KUN - this one was watching last week too, and it did break below a key resistance. there was enough time to act on it the day before the big move, so congrats to those who gots in. there were options on this one too, if i'm not mistaken.

LOCM - below a key trendline. may be a good short at this point.

LVLT - below a trendline now, and optionable stock. there may be more downside to come.

MRB - forming a complex H and S top (two shoulders on each side)

SOHU - broke below a key neckline resistance after a H and S top.

SOL - sitting right on a key level for the downside break. still needs confirmation.

SOLF - broke below resistance and optionable. may not act on this just yet as the sector as a whole still needs confirmation.

SQNM - optionable and very top heavy. the risk:reward ratio on this one seems pretty good in terms of options at this point. may consider optioning in early in the week. confirmation still needed, but i think this one is set to break on the downside way too fast to catch it intra-day. indicators suggest downside too.