EARNINGS SEASON IS UPON US.

Well, we have entered earnings season and this is when the stocks begin reporting the last quarter's earnings and if you are not prepared, you can take a beating. I will have to fill you in on the details of that problem in the near future and how to protect yourself. As for the stocks that I have been following in the past few weeks, let's look at what has happened:

It was a good thing, I got out of FMCN on Friday as the stock dropped another 2.66% today. The benefit is that it was on lower-than-average trading volume which still begs for the stock to rise if it can muster some more buying as has been seen in the past few weeks. What I am saying is that there is more buying than selling. I am basically playing the little whipsaws in this stock and buying on the dips and selling on the tops. Heck, if I can get 2-5% every couple of weeks in this stock, I'll continue to do it. It is just up to you if you wish to play this fast or not.

Now I get to brag about HSR. I have been watching this stock for the past 6 months waiting for it to bottom out. I made the suggestion that buying up to $9.50 is OK and if you have, kudos to you. I got in at $8.90 and it closed today at $11.50. A 29% move in 4 days is not too bad (sarcasm), but remember this was a "risky" trade and not for the light hearted.

Here's another bragger - WCC. It is up 10% from my buy point and I am expecting the $70 mark to be a barrier to resistance for a while. If another opportunity pops up on when to buy, it'll be in this blog. I believe it is etching the right side of a cup and handle. Just think, the Dow Jones has risen 12% each year for the past 100 years on average. If you were to immediately cash out of this position and put your $$$ into a money market account for the rest of the year you could match what the market has done on average, but still be beating this years return of only 7.5%.

ICE is my third bragging point since it has been up 10% in 4 days. I see $70 as a resistance point, but I also think it is building the right side of a cup and handle.

WDC has retraced back down to below my original buy point, but it has done so on low trading volume. I am sitting tight, but I give this a 50-50 shot of breaking out and forming a cup and handle.

LTM is still believe is in a "handle" of a cup and handle. I would buy up to $48, but no higher.

DEIX may see it's 50 day moving average as support. I am still holding onto this one as I think it also is in a cup and handle.

PACR is still floating between its 50 day and 200 day moving average. Watch any penetration of the 50 day moving average as a positive sign and this is a long term signal to buy back in to the stock.

You can check out any of these stocks by clicking on this link:
www.stockcharts.com and typing in the symbol. Also clicking on the light blue lettering will link you automatically with a definition of the word.