Three Stocks I'm Watching Now

Includes: CHGS, OIBR, TRIT
by: Leisa

I wrote about Brasil Telecom (BTM) here. I elected to take a position because I like the chart set up.

One holding that I have that I lightened up on is China GengSheng Minerals (NYSEMKT:CHGS). Here's a weekly chart (click to make larger):

I sold 1/2 of my position into yesterday's surge of 25% with 18+ relative volume. Who's buying? Who's selling? What news? (I couldn't find any!) I plan to rebuy that 1/2 when (IF!!) it pulls back in. If does not pull back in, I still have a nice entry point, and I will enjoy the ride.

As you can see by the volume at price bars on the left of the chart, there are a few folks that may want to unload as (IF!!) this thing rockets ups further. However, if it can clear $1.80 per share, there's a nice gap in the volume@price bars that my create an airlift vacuum.

Or, the damned thing could sputter to the ground. It is not unusual to see "spikey" activity before a meteoric crash and burn. There are some nice fundamentals here that give me some confidence that is not to happen.

Tri-Tech (NASDAQ:TRIT) is another holding that I wrote about it. It also enjoyed a good day. I did not sell my position into this ramp. Here's a weekly chart (click to make larger):

Volume@price bars on this chart point to some resistance ahead.

My preference is to look at homogenous groups (sector, country). Because I have been a lazy toad in not providing the weekly sector information (which I will resume next week), I did create for you a China chart book. The charts are in monochrome so that you can print them out and study them. It's a tool for your due diligence. I hope that you find it helpful. It is a big file....So be patient on the download. You can download it here.