GOOD MOVES TODAY

RIMM moved more than $7 today on higher-than-average trading volume. Buying now would be too risky, but congrats to those who got in.
If MR breaks above $29.22 on high trading volume, consider this a breakout from consolidation.
IFOX failed to break out above previous resistance so still watch this one.
ICE has returned as being a strong stock and appears to be building a perfect cup and handle. (To find out about cup and handles visit the education section at www.investors.com

HERE IS THE LIST OF STOCKS THAT POPPED UP ON THE PRICE AND VOLUME BREAKOUT SEARCH:
ANST bounce of 50 day moving average is a positive sign eventhough it is not a 52 week high.
OMRI This is too risky of a trade so I wouldn't take it.
RIMM, but this one is outside of a comfortable buy area for me.
SOLF - two words - Bottom reversal?

There is a saying in the investment world: Cut your losses short and let your winners run. I need to take that into consideration looking back at TAM.

GOOD LUCK TRADING.
JD

GREAT DAY

Today was an amazing day for the stocks that were searched under the PRICE AND VOLUME BREAKOUT. VCLK went up 14.3% today alone. MIR up 1.3%, ICON 0.25%, BSM 5.3%, RATE 1.25%.

WNR broke out of consolidation and was up 4.9%. ORCL came out of a high handle; however, trading volume was not that high. If IFOX, breaks $17.14 on high trading volume it will have officially broken out of a cup and handle. CRM ripped past the buy point of $46.18. Any buying above $47.25 is way overextended. Watch MR very closely to pitch out a handle. BBND has had 4 straight up days. ICE has lots of accumulation going on.

RE-READ DARVAS ARTICLES

I was flipping through some information and this is a note to myself. Check out the TASC from May, 2005 and June, 2005.

CONSOLIDATING STOCKS:
WNR (Buy target = close above $41.49, Sell target= close below $39.52)
ORCL (Buy target = close above $19.39, sell target = close below $18.39)
MCO looks to be creating a bull pennant. So watch for a breakout in either direction.
FXE which is an ETF based upon the Euro currency. Let's see where this is going to take us.
NLY hasn't made a move for a month and a half. Just keep an eye out.
IFOX seems to be forming a bull flag.

CRM may be on the sell/short list soon.
BLUD: Staying away as the gap that was created in early April looks as if it being filled
MR may also fall back to fill the gap.

Good luck trading.
JD

STOCKS STILL TIGHTENING UP

BLUD, HMIN are still tightening up for a big move. Which way? I don't know. Just be ready when they do.

I am closely watching JASO, TSL, and IFOX to breakout to the upside. Buy if JASO closes above $28.19, TSL above $61.25, and IFOX above $17.14

BIDU officially closed above previous resistance and is now a buy. MR has also broken out of consolidation and is considered a buy as it has broken the ADX above 25.

No position changes in forex.

Good luck trading.
JD

WHAT A COUPLE OF SCREWY DAYS

Big drop in the market on Thursday followed by un up day on Friday. No wonder no one can predict the market. The major stock indexes finished Friday with decent gains and near session highs, but trading volume was lower than Thursday's precipitous drop on high trading volume.

There are a few noteworthy candidates that need to be discussed.

I bought in today on UEPS. Click on the chart to find out why. I mentioned UEPS back on April 25th to watch the stock as it may break out of the Darvas box it was in. It took 16 days to break out of the box, but that is why I keep a watch list.

LFC kicked into gear today and is a buy candidate. RIMM (Z's choice) broke out of a consolidation period and is at a 52 week high (perfect Darvas candidate) ICE (Z's choice) is coming up again as a buy candidate in a potential bottom of a cup. BIDU (Z's choice) may be making a run for a new 52 week high soon. Hello again the MCRS. UGI made a 52 week high a few days ago and it may go on to break into a new high. RVBD is also making 52 week highs. For a low-priced stock check out JADE.

MR has now entered the middle of the Darvas box that was outlined earlier. The top of the box is at $25.07. So if a trader wanted to get in on this one when it broke out above $25.07, the best bet would be to place a BUY STOP ORDER 10 cents above the highest level of the box. So, if the top of the Darvas box is $25.07, one would place a BUY STOP ORDER at $25.17.

On the short side, THQI made a run for the door and probably will continue to do so along with KCI and GLDN. GLDN is my best bet for shorting.

As for my current positions: TAM has treated me well in the past 3 days since it broke out of a downtrend. Granted, these are riskier trades than what Darvas was doing trading stocks that were making 52 week highs. This technique that I have formulated does occassionally pick up the bottom of a cup-and-handle as described by Wm. O'Neil with Investors Business Daily.

ARNA is still on a tear and I like it. I love it. I want some more of it. But stop loss it at $13.11 to keep a profit.

If I only coulda been in on RBN.

I got stopped out of my EUR/CAD trade after it made a run back up after a large downturn. I made a total of a 59 pip profit which amounts to $535 profit. I am looking back on that trade and I probably should have taken my profit of 120 pips a few days ago since this is not a highly liquid pair. I am still long USD/JPY and entered a long trade (USD/CHF) today at $1.2190. Let's see where these take us. I entered the USD/CHF trade based upon my template in Metastock I named "DEER - ADX Forex" I am trading based upon technicals and not upon fundamentals. It is the hardest thing to do, but I have to trade based upon signals - not emotions.

Remember - you can always go and look at these stocks for free at www.stockcharts.com

www.investors.com also offers free education in the IBD learning section.

STOCK WATCH LIST: AAPL, AF, BBND, BLUD, COMV, CRM, FCSX, FSLR, GOOG, GS, HSR, ICE, IFOX, JASO, MCO, MCRS, POT, RIMM, SAY, SOLF, SPWR, TALX, TSL.

I hope that you forgive me. Embedded within this post are notes to me for the actions I need to perform. The blog is my trading journal and I don't want all of my secrets known. I am posting my actions as I would trade, but I obviously want to get into a trade before everyone else does.

GOOD LUCK TRADING.

JD