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  • Five Must Own Companies For Your Portfolio 0 comments
    Dec 22, 2010 9:54 AM | about stocks: MON, MRO, KATE, JNY, FBP

    Below are a list of companies with exceptional chart patterns that are bound to bring high gains in the short-term:

    George Soros’ baby, Monsanto company, one that will reap tremendous benefits from the upcoming food inflation that is yet to be priced into markets around the world. With  an Inverse head and shoulders pattern that takes it up to the $73 target, as well as a newly formed golden cross, shorting this stock now would be a foolish play. A lot of resistance currently resides at the $67, yet it has hit it a few times, and the more it does so, the higher the chances of breaking it are.

    Gotta’ have an oil company for your portfolio, period. This commodity is going to continue cleaning out our wallets as long as OPEC stays in place, and you can count on that being for a very long time. The stock currently popped out of an ascending triangle that has it moving to $40 rather quickly, and also an inverted head and shoulders pattern that could push it another dollar to $41. It is very rare to see two of the most saught after bullish patterns cross each other, yet you have that here.

    Who doesn’t remember the good old Liz Claiborne, a once very reputable brand amongst celebrities everywhere. This chart wouldn’t be more beauitful, with both a cup and handle breakout, and a pattern that is eerly similar to that of early 2010 when shares rose from $7 to $9 over April and May. Look for shares to rise to around $10 before the big sellers come in.

    From one clothing company to the next, we move on up to Jones Group. To the untrained eye, a bullish pattern might be hard to detect, yet from a birds-eye view we notice that whenever shares have popped past the 50-days moving average (blue line) it has gone on to rally quite a bit, and this should be no exception. The first resistance at $17.72 should be your first key level of selling should momentum continue to take the stock up.

    This is purely a speculative play on a small bank with a lot of buyout talks. Apparently they received an offer which was rejected by the board. With a short interest nearly at 45% of the float, this is one of the top 10 most shorted stocks on the NYSE, and could easily be the subject of a nice short squeeze. Currently engaged in a cup and handle pattern that shows a breakout to $0.50, this could be the catalyst that begins some short covering in a hurry.

    Disclosure: Long MON, MRO, LIZ, JNY, FBP



    Disclosure: I am long MON, MRO, LIZ, JNY, FBP.
    Stocks: MON, MRO, KATE, JNY, FBP
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