Pro Stock Pickers'  Instablog

The market on Monday started the day off  in positive territory allowing many names to hit new highs. This lasted until the last couple of hours of trading where we rolled over and went negative.  The good news was within the last 1/2 hour the market was able to get some legs and head back above the intraday consolidation point.  The negative side of todays session was many of the stocks that ran to new highs intraday did not participate in this last 1/2 hour surge.  This lack of participation can be viewed as a negative sign for the market and a short term top for those stocks that fizzled late in the day.

Running our screens tonight gave us quite a lengthy list of stocks to look to take profits on. We have had some beautiful runs and many of the stocks we nailed some quick moves on are slowing their acceleration to the upside.  Many are hitting up against old resistance levels, some have unsustainable moves, and luckily only a couple are breaking through support levels on heavy volume.

Before we go over our list of stocks you should look to take  profits in tomorrow, we would like to focus on some of our strong, open positions. 

Two in particular were TSTC, GMCR

TSTC closed up nearly 8% today and GMCR was able to move higher by almost 7%.
Here is the TSTC chart.

GMCR

 

 Here is tonight's list of stock we would look to sell.

Shorter term trader may look to sell the entire positions outright and longer term traders/investors may look to sell 1/2 position and move their stops up to breakeven.

These stocks have all run like crazy to new highs and may be fizzling.

F, CREE, MED, SNDK, INFA

SNS was up as much as 50% and is still up 35% from our entry point. One should have already or should now be taking profits  in this highflier.  It is pausing and the short term pullback can be sharp.

TUP is struggling right at the 50 day MA and needs to be watched very closely .

GLD COULD HAVE ANOTHER LEG LOWER IF CAN'T GET ABOVE 50 DAY

TLEO had a nice +9% quick move higher but is fizzling in the short term. Look to take  1/2 off

HSNI could stall and consolidate.  Look to take 1/2 off

AONE BE AGILE, TAKE PROFITS ALONG THE WAY DONT GET GREEDY.

If haven't yet take 1/2 OFF VIT

 Would look to sell 1/2  WDC  which is up over 17% over the past few weeks

TSRA is in trouble and would look to close position

SNDK has blasted up 50% since December 1st, If have not already done so look to take 1/2 off or sell entire position

HOG is done for now. Would close position unless shows signs of  life early Tuesday morning

Would look to sell EJ

AIXG would look to sell

BRF did a great job of holding the 50 day moving average and may soon see higher prices. 

NFLX has gotten back above it's 50 day MA  which is a very positive development but now  needs consolidation above that level.

The fact our screens only gave us 2 stock setups for Tuesday December 29 makes us feel the market is due for a pullback over the near term

If you are hungry for trade ideas we did have 2

ABVT HIGH RISK TRADE with a move above 65.20

ROST on a move above43.08

 For those interested in playing airport security stocks we would consider buying the following

ASEI OSIS, ID, RTN, LLL

Thanks,
Brett Marsh
www.betterstockentries.com
brettm@betterstockentries.com

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