Coinstar (CSTR) raced past it’s buy point of 36.08 last week after posting phenomenal earnings and so far we’re up 32%. With the condition of the market under pressure as it is, it might be a good idea to lock in some gains here and hope for the indexes strengthen a bit.
Vanceinfo (VIT) is still trying to break out. We bought it at 24 and it’s been fluctuating around that point for the last couple weeks.
Coinstar (CSTR) released earnings after hours last night and almost doubled expectations. They gapped up and opened at 48.75 reaching a high of 50.35 so far – a 32% gain!
Coinstar (CSTR) is still trading in a tight pattern and I think that’s a good sign… Two weeks so far – looking for one more week of tight trading and it will be a proper base. If it holds it’s gains and breaks out of this pattern it could go big.
Vanceinfo Technologies (VIT ) is really taking off after it’s breakout 2 weeks ago. It’s too far extended to buy right now, but I might consider buying more if it starts another base. Earnings are due on 5/13.
* Medifast Inc. (MED): perfect fundamentals… trading on the right side of a huge cup. The buy point would be 36.68. Earnings are due on Thursday 4/29 so I’m going to watch for a good report to push it past the buy point on above average volume.
* Priceline.com (PCLN): good fundamentals… earnings due on 5/11. Pulled back into buy range after passing a buy point 267.12 after several weeks of consolidation. The max buy point I would use would be 280.48.
* Atheros Communications (ATHR): good fundamentals (let’s just assume “good fundamentals” for now on, otherwise it won’t be on the list.) Earnings are still a ways out – July 21st. Almost pulled back to buy range after clearing a cup with handle base. The target buy point was 39.34 and the max buy point would be 41.31. Going to watch for it to come back into buy range and possibly grab some then.
Still in the radar in buy range (ticker/buypoint/max buypoint):
Blue Coast Systems (BCSI/33.76/35.45)
Cognizant Technology (CTSH/54.45/57.17)
Coinstar (CSTR/35.45/37.22)
EZCorp (EZPW/22.29/23.40)
WebMD (WBMD/46.63/48.96)
Warner Chilcott (WCRX/28.49/29.91)
Blue Coat Systems (BCSI) – Still in buy range after clearing a buy point of 33.76 last week. Max buy point would be 5%
Cognizant Technology (CTSH) - Buy point reset to 54.45 after it broke the buy point last week but closed below it.
Coinstar (CSTR) - Still in buy range up to 37.91
EZCorp (EZPW) – Still in buy range up to 23.41
Vanceinfo Technology (VIT) – Still holding shares long. It’s getting close to it’s maximum buy point of 25.04 after it’s breakout last week.
Dress Barn (DBRN) - Just dipped a few cents back below it’s max buy point threshold of 28.75.
Nu skin (NUS) – Still going strong after it’s breakout last week. Close to max buy point of 31.85
WebMD (WBMD) – Cleared a 3 weeks tight pattern 2 weeks ago and going strong. Still a bit below it’s max buy point of 48.96.
VMWare (VMW) - too extended past it’s 55.09 buy point, but watching for a new base to form.
*Warner Chilcott (WCRX) – New on the watchlist, it’s forming a double bottom with a buy point of 28.49.
*Green Mountain Roasters (GMCR) – This guy just pulled back into it’s buy zone. It held up at it’s previous support level and still looks strong. I’m going to watch for it to form a new base here before I buy.
*Ulta Salon, Cosmetics & Fragrance (ULTA) - It pulled back into it’s buy zone after breaking out of a cup base 6 weeks ago. Max buy point is 22.81.
It’s been an interesting week…
Vanceinfo Tecnology (VIT) had a strong breakout, but pulled back twice and closed down this week, but still a bit over it’s buy point. I am long 22 shares of VIT.
Blue Coat Systems (BCSI) faked us out and closed below it’s buy point this week, so we’ll continue to watch it to break it’s 33.86 buy point.
Cognizant Technologies (CTSH) closed out the week a penny below it’s buy point of 52.78.
Coinstar (CSTR) closed just 1.6% above it’s buy point.
The Dress Barn (DBRN) and NU Skin (NUS) are both still going strong after their breakouts from last week.
Have a great weekend!
Both NuSkin (NUS), Coinstar (CSTR) and Cognizant Technologies (CTSH) all passed a buy point in the last 24 hours with good volume. Won’t be buying these yet as I’m all in on Vanceinfo Technologies (VIT), which is still doing well in it’s breakout and only slightly past it’s buy point from a few days ago. So I’ll watch them for future buy points.
As a reminder, I am trading an Investors Business Daily swing type strategy right now. I’m taking a break from the day trading and I’m watching high quality, IBD type stocks to buy and hold on to for a bit while I take care of some other business.
BCSI – Blue Coat Systems Inc – trading above it’s 50 day moving average, that has a good earnings per share ratio and has shown acceleration over the last few quarters and showing strong sales growth. It’s trading at the end of a 3 weeks tight pattern and am looking for a breakout at 33.76
CTSH – Cognizant Technology Solutions Corporation – descent earnings per share, but really strong sales growth. Trading sideways in another tight pattern – possibly 5 weeks tight? Looking for a breakout at 52.78.
CSTR – Coinstar, Inc – fundamentals not as great as I would like them to be. Earnings per share change is 45% and average growth over the last 3 quarters is 52%, so that’s good. But analysts estimate current quarter change is pretty low, but they still estimate the year will be around 50% growth. It just passed a double bottom buy point and could have a chance to get in around 36.10 after breaking out of a cup base.
EZPW – EZCorp, Inc – I’m getting lazy, so I’ll just say it’s got strong fundamentals. Good earnings, great sales, and it’s trading sideways in a tight pattern. Watching for a breakout at 22.29.
VIT – Vanceinfo Technologies Inc American Depositary Shares – Impeccable fundamentals. Trading in a double bottom base, waiting for a breakout at 23.85.
DBRN – The Dress Barn, Inc – Good earnings, descent sales. Just past a buy point at 27.38 after a base-on-base pattern, but still close enough for me to potentally buy. Keeping an eye on this one. I don’t want to let it slip away.
NUS – NU Skin Enterprises, Inc. – tight pattern – watching it to hit a buy point of 30.33.
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