dan, i would hold off on COGO for a while with all the downside volume and weak volume rally from the 200dma, u want to see the opposite and with the 50dma in a downtrend..(also the weekly has more above avg down weeks than up weeks)..its in no mans land for a while

Thanks danimisce, I trimmed into the top, perhaps got out a tad early (sold at 10.80, 11.70), but was very happy with the results.  I will be bottom fishing in it again, even though it looks ugly in its correction at the moment.  There will be a second swing with this fellow, fundies look great and it is in a long-term solid group.

COGO also own, bought it around 10 when the MACD swung positive.  Not sure I would chase it here, but you gotta like its prospects into the end of the year.

ORKiter's analysis on COGO is absolutely correct. I can not add anything else to it.

Thank You, ORK.

Bottom fishing in this market, also, is not going to make you nearly as much money as buying breakouts on the longs in the leading industries or shorting the stocks that are breaking down from topping patterns so be very careful with these plays in this market environment. But as always the smartest and best play is sidelines and cash. Cash is king in a market environment that is as choppy as this one. Overtrading is stupid trading. Don't I know it!!!

Daily charting lesson on BRR:

Since BRR did not follow through on the breakout today, 1/4 to 1/2 of the position should be sold. Why sell only half and not all? Because the pullback was on lower volume and did not violate the support so this stock could get its legs going tomorrow and could be hitting new highs in the next week. So why shouldn't I just hold on if I bought 200 shares? Because this is a downtrending market and 3 out of 4 stocks follow the market. That puts you in high odds that this stock could fail. You have to play it safe in a weak market.

Yes, thanks ORK.

I agree with your thoughts, like I said Cogo was on my radar but I was expecting the company numbers before to do anything. And the earning that have come out in the late noon is not so great. I'll do nothing with Cogo for a while.

Not a good day today after London news. Too bad news for the world.

D.

I love the following quote from a man live 2500 years ago in a military strategy book.  It is also applicable to the market here.  So think twice before bottom fishing, we are not in an extreme over sold condition yet.

Do not move unless it is advantageous.
Do not execute unless it is effective.
Do not challenge unless it is critical.

----Sun Tzu

AVNC one of my best longs in the shortest amount of time in a long time.

I would take 1/4 to 1/3 profits here, by the end of the day.

what do you think of IDTI, josh?

I like it but the chart isn't quite proper. I will need more time to look at the chart, then step away and let my subconscience work on it, and then return to look at it again.

If I list it in my new longs then you will know I gave it the ok, If it is on radar then I am passing. Something bothers me but i think it is the fact that this is a bear market and this chart pattern didn't form a handle. Cup patterns are more risky and there is a bit of a ways to the 50 dma. You could cut half imediately if it doesn't work and then use that line as the guide. As for me taking it I will need more time to crunch the chart in my head.

AMRN: Keep watching it the next couple of weeks to see if it can form a quiet base and then breakout to new highs. Very nice weekly chart. However, this is a speculative stock so I am not really that stoked on it.

NEU and GROW - positives are that both have had relatively quiet volume for the past few months in their bases and have pretty good fundamentals.   Negatives are that both have run up so much in the previous year that I don't know if any buy is worth it here, along with of course the general state of the market being so crappy.    Any thoughts?    I most likely won't take a shot with either but am curious.  

NEU and GROW both have the same problem

Look at all the selling on the left side of the bases. Now look at the accumulation on the right side. You dont see any? right; me neither.

Both are old leaders. Both have had huge runs. Have we heard of these stocks before in the last bull run? Yes. So they are done. They were the old leaders. Moving on....

GROW doesn't look that bad now after the market closed. I am not going to go long it yet but I will study it a bit more.

I guess I should have gone long CAPA two days ago. Oh well. Discipline is way more important. For every one of these I miss, I avoid five disasters. Always play the odds.

GROW, really? pretty late in the game for that stock isnt it when looking at weekly ? seems week to me, especially with the anemic up volume the last 3 weeks ? i guess i would be more excited if volume was huge(like a million shares+) today since it doesnt take much for this stocks(only 300k shares ) to be above avg volume but guess we will see

what about JCG?

new issue as well, like MA. It is acting pretty good in this environment.