4 charts to look at for Monday
Market finished the week
in powerful fashion as the averages edge toward the 52-week highs.
The correction that occurred in August is over and September trade is behaving
better then the way it typically does. If you examine what typically takes shape
in September what is happening so far is out of character. I picked up a couple
of new stocks today and added to several others as well. Gold stocks are trading
higher. The metal segment of the market place is beginning to get into gear. I
am involved in a couple of gold stocks that are trading with nice energy right
now. I will get into both in this late Friday post-closing piece. This morning
the attention was focused on several good shorts to get involved in. This
evening will focus on some longs.
Compania de Minas Buenaventura S.A
(
BVN |
Quote |
Chart |
News |
PowerRating)
29.18
A Peruvian gold mine. Go figure. Being involved
in this instrument has been quite the delight. I am delighted by its action.
Take a peak and look at the vibrant stunning action displayed by this robust
instrument. It is in the heart of an advance that could get very serious. I
would not chase it now. I would pick up shares coming into the 26-26.50 zone. It
moved today in very good trade. Not great trade. Very good trade. Still it moved
better then most on a decent Friday in September. If the stock rises above 31.81
a high point made in 12/03 then it will likely take off like a rocket. It is
within striking distance so it ought to be watched closely especially if you are
serious about making money. It is very extended now so I am just laying low and
will consider adding to the position I carry if it crosses that high point. The
better buy is a pullback down to the 26-26.50 zone. Place the stop at 23.99.
Advanced Energy Industries
(
AEIS |
Quote |
Chart |
News |
PowerRating)
12.61
This is a timely buy that I have been eyeing for
a while and the level necessary to persuade me to get involved was crossed. I
bought it twice today. Both at current price points. I invite you to take a
close look at the chart and notice the current pattern of trade. AEIS is ready
to embark on a journey north that will take it to the vicinity of 19. It is now
at 12.61. The chart tells me the current advance can lift its price near 19 a
share and that is quite a return especially if it happens over the intermediate
term. It broke out the other day in heavy trade and the action today as it
crossed the break point confirms the authenticity of the movement. The advance
is just beginning so it is timely. Place the stop at 10.99.
Integrated Silicon Solutions
(
ISSI |
Quote |
Chart |
News |
PowerRating)
9.33
The stock managed to close above the necessary
price point to confirm the break out that occurred today. ISSI broke to a new 52
week high today in better then average trade. Check out the chart. I extend my
invitation to you to examine the chart and notice a stock that has survived a
brutal decline and is now in the outset of an advance that could be serious. The
stock dropped from near 20 in January 2004 to a bottom 5 and change in April of
this year. It is rising above the top of its base right now and the opportunity
presented (right now) is as close to the ideal you can get. If you are willing
to build the stake you have then ISSI is inviting you to get involved. The
expression it conveys is a move up. Place the protective stop at 8.49 for
traders.
Gold Corp
(
GG |
Quote |
Chart |
News |
PowerRating) 19.56
I bought more pyramiding my position in GG. I
bought more BVN yesterday. Oh, it was merely a stroke of luck. Still good luck
is an important component when getting involved in a place of risk. GG is in
quite an advance and although it is extended it persists in its stunning move
that has picked up speed and is seeking yet higher ground. It is extended so the
stops ought to be placed near the 50-day line at 16.75.
Have much fun this weekend enjoying life!
Jack S. Rothstein
Rothstein Investment Advisory Services, Inc.
3600 Chain Bridge Road, Suite 200
Fairfax VA 22030
Phone 888-343-4825 — Fax 703-385-7232
www.jrmoney.com —
www.wealthcast.com
Jack Rothstein is the President of Rothstein Investment
Advisory Services, Inc. and is a 20-year veteran stock trader and a money
manager.
Mr. Rothstein also writes Wealthcast, a monthly newsletter about the technical
behavior of the markets. He has been quoted on Bloomberg, CNNFn, the Dick Davis
Digest and the Dow Jones Newswire. Since 1993, Mr. Rothstein also hosted
WealthCast, a radio show in the Washington DC area covering the stock market.