Top Stock Traders

S&P500 Charts, 1950's, 60's, 1973-74 Bear Market, 1987 crash, 1990's, Double top 1999-2008

Sunday January 11, 2009 , 12:08 pm EDT.

The S&P500 1144, is moving higher without the higher volumes to confirm a solid trading signal. Possible upside targets are near 1250. If we see further weakness in the US economy, the market could just keep running higher. The Russell 2000, IWM, 64.52, has now closed above old resistance with upside targets near 70. XHB, 16.22 Homebuilders Index is nearing a possible break-out at 17.

Gold has corrected, but could remain in a longer bullish trend. GLD 111.37, has rebounded with higher than average volumes in this last 5 week sell-off. One gold stock leader, Eldorado , EGO 14.83 is positioned at its' 52 week high in a solid uptrend. Oil, USO at 40.93 is positioned for a triple top break-out at 41.92 ...one to watch.

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Close	USA	CAN	Ticker	ETF / Stock	Bottom Fishing	Breakout Watchlist	Break-out Stage 1	Stage 2	Stage 3
Jan 09	X		ANR	Alpha Natural resources		43.50,dec18		51.14
Jan 09	X		ARM	Arvinmeritor			11.07,dec18		11.57
Jan 09	X		BEXP	Brigham Exploration			13.35,dec18		14.56
Jan 09	X		HAL	Halliburton Co.			34.12
Jan 09	X		CENX	Century Aluminum			15.42,dec18		17.83
Jan 09	X		EGO	Eldorado Gold				14.83
Jan 09	X		QCOM	Qualcomm		49.47
Jan 09	X		IVN	Ivanhoe Mines		14.35,dec18		17.35
Jan 09	X		MOS	Mosaic			66.70
Jan 09	X		JOYG	Joy Global		59.76
Jan 09	X		NBR	Nabours Industries			26.87
Jan 09	X		NWS	News Corp Ltd. Triple top BO confirmed		15.70,dec18		16.42
Jan 09	X		BTU	Peabody Energy				50.86
Jan 09	X		UYM	Ulta Basic Materials			37.00
Jan 09	X		OC	Owens Corning		26.37
Jan 09	X		XLE	Energy select Sector		60.30
Jan 09	X		QLD	Proshares Ultra QQQ					61.43
Jan 09	X		TIE	Titanium Metals		11.31,dec18		14.88
Jan 09	X		XHB	Homebuilders SPDR		16.22
Jan 09	X		WLL	Whiting Petroleum			70.01dec18	76.79
TSX picks
Jan 09		X	JIN	Jinshan Gold, first update Nov 20 at $2.55				3.11
Jan 09		X	BXE	Bellatrix Exploration			2.70dec18	3.72
Jan 09		X	ML	Mercator Minerals (copper)			3.23
Jan 09		X	WTN	Western Canadian Coal			4.17
Jan 09		X	GBU	Gabriel Resources			4.45
Jan 09		X	GCE	Grande Cache Coal, break-out from 4 month base in progress			5.64,dec18	6.76
Jan 09		X	IVN	Ivanhoe Mines		15.30,dec18		17.83
Jan 09		X	NG	Novagold Resources		6.84
Jan 09		X	FM	First Quantum Minerals			91.95
Jan 09		X	FNX	FNX Mining Co.		12.97
Jan 09		X	XRC	Exeter Resource, volume signal on next leg up.			8.25dec18	8.99

Top Stock Traders uses technical analysis to pick stocks on the US and Canadian Markets. We research and code technical stock scans. Based on chart patterns, we pick potential set-ups for short-term trading. New traders can use this website to learn the basics of disciplined technical trading. Our intent is to help you become a better trader.

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Stock Phases define the 4 market cycles. Updated October 10,2009


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Table 1. We define the watch list as a stock or ETF nearing a local breakout or bottoming formation. The breakout is a stock closing above local resistance with higher volume as the confirmation signal. Stage 1-2 are stocks which have broken out and are moving higher. Stage 3 are stocks which are rising on the upper Bollinger Band and become more risky for a reversal. All stage 3 stocks are trending and could be nearing the target price. Stage 3 for traders could be opportunities to sell and take profits as the stock weakens. A stage 3 stock will decrease in upward momentum and move closer to the 20 day moving average. If a stage 3 stock crosses the 20 day moving average, it's time to get out with a stop-loss. All stocks/ETF's should have stop-losses reset daily to preserve downside risk.

BKO=Break-out. The BKO is a $ resistance point in the past 1 month to 1 year. A close 2-5% above the BKO would indicate a move higher. Volume is needed to confirm the break-out direction.

Category, "BF" or bottom fishing. Our picks are ETF's or stocks which are near the lower end of past trading ranges and are possibly due for a technical bounce. As a stock moves sharply lower, selling intensifies on volume. A set-up for a short term (5-10 day) trade is nearing. Slowly build positions and do not jump in with greater than 5% of your portfolio. Stop-losses are needed, or stay out of the trade.