Some Ingredients That Put Probabilities In Your Favor
‘Thank you Santa’–or should I
say thank you Wall Street?
Actually, the person responsible for this gift is none
other than yourself, if you chose to give yourself an early treat
here in the present.
I personally was not expecting a whole lot today,
but since I did have an obligation to show up for today’s pre-holiday games, I
made sure that I looking at stocks that others were definitely taking note of, by
coming in with a list of stocks that performed well in yesterday’s trade on
relatively heavy volume. You never know for sure if a stock is going to
definitely follow thru in the next session or not, but there are ingredients
that keep the probabilities in your favor.
One such candidate, and a strong one at that, was
Biolase Technology
(
BLTI |
Quote |
Chart |
News |
PowerRating). We had actually been participating in
this particular stock since yesterday’s session on the ‘early’ breakout of the
Cup and Handle pattern that existed within the larger weekly basing formation.
The stock also happened to be on my
TM Intermediate-Term Report as a qualifying
‘weekly baser.’ When a stock makes that particular list, it’s usually getting
the nod of approval–not only from me, but also a much wider audience of growth
stock participants who love to play breakouts. With BLTI I already knew this to
be the case, as one of the other vendor services that I personally watch had
also made some positive commentary on it in recent days.
….add up all the ingredients, mix in an entry
trigger–and voila, a tasty looking holiday treat!!!
09:43:24
Early Relative Strength
From the Nightly
Daytraders Report and the
Intermediate-Term Report Biolase Technology (BLTI)
has broken thru weekly pattern resistance to new 52-week highs. With the
stock up .56 at 16.28, the issue is also forming a potential
Taglia Gap on a move thru the 15-minute highs.
10:33:54
Intraday Update
Biolase Technology (BLTI)
has formed an intraday consolidation at highs. With the stock up .88 at
16.60, continuation longs might be established thru 16.66. BLTI is at
All-Time-Highs on approximately 1.7 times average daily volume.
When you have a ‘high-flyer in your sights and all systems are a
go’–remember the words of the immortalized character Hollywood from the movie
Top Gun–‘It doesn’t get any better than that!!!’
Chris Tyler