CBOT Holdings Inc (NYSE: BOT): Watchlist

CBOT Holdings Inc (NYSE: BOT) has carved a double bottom base and is well positioned to move up. Currently, it is experiencing resistance around $125. Given recent activity where the volume on the upside has been considerably higher than the low volume days and that the OBV is giving positive indication, this may break out soon.

BIDU down AH

Alright....Baidu's earning is out and the stock price is down 15%. That puts it around $78.00. I did not have a good feeling on BIDU and I had expressed it in one of my earlier article. (Here are 2 other articles that were bearish on BIDU: article1, article2) I was leaning towards shorting it but for some reason refrained from doing so. Well, now there is good chance that it might fill the gap.

Talk about a lost opportunity..! Oh...well.

OSI Pharmacuticals (Nasdaq: OSIP)

OSIP has been trending lower since early 2004. Since then, it has broken the downtrend and is currently forming an ascending triangle with $33.50-$34.00 as resistance. Depending on how you see it, it can also be viewed as a cup and handle pattern. The 50 DMA has been offering good support lately.

Taking a look at a shorter time frame, it looks like the $32.50-$32.80 level is acting as resistance while the support is inching upwards. If OSIP breaks above this resistance, this can trade up to close the gap ($39).

XCEL Energy Inc (NYSE: XEL)

This is also one of the stocks that are trending higher against the general market direction. This one is also close to the 52wk high. Observing the OBV, it looks like this stock has been in accumulation for a while. This also stands out as a break out candidate after forming a visible double bottom pattern.

Duke Energy Corp (NYSE: DUK)

While the market taking a beating, some are trending up. Duke Energy (DUK) is one of them. It is close to the 52 week high and given the recent price action, it has the potential to break out of the ascending triangle pattern. Also note that the OBV has already given an indication that money is flowing in.

Baidu Inc (Nasdaq:BIDU) - Watchlist

I have been watching BIDU for a while and was not totally convinced about BIDU's action during its break out because the OBV did not confirm it. Today's action came in with high volume but it closed lower. There was no follow through.

After markets closed, Yahoo came out with its earnings and disappointed. During afterhours, it is trading 13% lower than todays' close of $32.24. This is having some effect on Google (GOOG) and Baidu (BIDU). Will this cause BIDU to sell off. Even if it sells off, will it sell off to an extent to close the gap?

While I had these doubts, I came across this article in forbes where Robert Maltbie is suggesting a short on BIDU with his reasoning.

Disclosure: I do not have any positions in BIDU.

Watchlist: Akamai Technologies

AKAM has been consolidating under the 50 DMA for 7 days. Recently, It has been forming higher lows with resistance at $33.00. A break above $33.00-$33.40 level can bring in some short term gains. The next resistance level is just above $35.00.

On a daily chart (not produced here), I see that AKAM has closed above the 50DMA.

Titanium Metals Corp (TIE): Potential upside

TIE has been sold off since the start of July. A decline from $34.00 to the intraday low of $24 couple of days back. Since then it has rallied in good volume. It has been consolidating for couple of days and showed some strength towards the end of the day. Be prepared for a move up on a break above $26.10 with a stop below today's low.

Dynamic Materials Corporation (Nasdaq: BOOM) - Chart Analysis

I am wondering if BOOM is forming the right shoulder of the head and shoulder pattern. Another point driving me towards the 'bearish' thought is the declining 50 DMA that will cross the 200 DMA very soon. The neckline support is around $26.00.

Nasdaq testing support

Nasdaq, (and in general, the markets), sold off to test the lows (thanks to the geo-political fear) formed in mid October, 2005. The stochastics indicate that the nasdaq is oversold (it has been showing that for couple of days now). The oversold indicator and the testing of support combined will give enough ammunition to trigger a bit of a snapback next week. Although the primary trend is bearish, I wont be surprised if there is a minor rally going into the earnings season.

Titanium Metal's (TIE) impressive rally

Today, Despite the general market's weakness, TIE made an impressive turnaround and rallied almost $3 to close the day with a bullish reversal hammer. The volume was also quite impressive. I am expecting a slight pullback before it proceeds up. The next visible resistance is at $30-$30.50 area.

So, What caused the rally? The company's chairman bought 125,000 shares of TIE at $27.14.

Poll Result: Has the market reached a bottom?

Here is the poll result. With a limited sampling, here is what it looks like.

SBUX breaks support

Today, Starbucks Inc (SBUX) broke below the support level of $35.00 on high volume. Notice the high volume drop a few days back. I was expecting this to happen couple of weeks back as indicated in my earlier article. Oh well.. "Bernanke Trap" was set for SBUX traders.

Looking forward, SBUX may drop to $32.00 to fill the gap .

Hansen's U turn

Hansen Natural Corporation (Nasdaq: HANS) did a complete U turn today. Yesterday, It was down about ~10% and today it was up ~10%. Todays volume was better.

If the market continues to rally as it did in this afternoon's session, we may be in for some short squeeze. Although, I wonder why would the short not cover their positions today as they see that it was forming higher highs and higher lows. I am sure some acted today.

Take time to let me know what you think about the current market condition by casting your vote on the Poll. I plan on publishing the results shortly.

Watchlist: BRCM, AAPL

The chart of AAPL and BRCM looks very similar. A bullish engulfing chart pattern being formed with increasing volume on the upside. The stochastics is indicating an oversold condition as well. I have posted the chart of BRCM.


Take time to let me know what you think about the current market condition by casting your vote on the Poll. I plan on publishing the results shortly.

Akamai Technologies's hammer

AKAM formed a hammer just around the 50 DMA.

The stochastics is indicating an oversold condition as well.












The volume towards the close was very good.















Take time to let me know what you think about the current market condition by casting your vote on the Poll. I plan on publishing the results shortly.

Hansen Natural Corporation (NASDAQ: HANS)

HANS appears to have reached the top and may fall lower. A doji with long shadow was formed on July 7. The stochastics is indicating an overbought condition. Conditions are ripe for shorting HANS. The near term target may be $188-$189 followed by a test of 50 DMA.

Marvel drops again

Marvell Technologies (Nasdaq: MRVL) dropped another 7+% coz they received a letter of informal inquiry from the SEC, requesting documents relating to its stock option grants and practices.


Yes, That is today's chart of MRVL. It was maintainging $41.80 as resistance all day and gave up during the final hour of trading, in the process breaking the trendline formed during the day.

Does this mean there will be continued selling tomorrow? Note: October 2005 lows may offer some support. Look for a break below.

Staples Inc (Nasdaq: SPLS)

On June 30, Staples Inc (SPLS) formed a bearish engulfing pattern followed by today's doji. Currently, the 50 DMA is being observed as resistence. There is potential for some downside price movement (baring a break above 50 DMA) given that the OBV is declining.

Palm Inc (Nasdaq: PALM)

Palm inc (PALM), after its earnings release, broke down below the 200 DMA on June 30. It is currently holding the $16.00 as its support. Given the volume during the recent sell off, there is potential for more selling. Watch for a break below $16.00.

Akamai Technologies Inc (Nasdaq: AKAM)

AKAM is experiencing resistance at $37.00 and is having high stochastics thus indicating a potential for a price drop.

Also here is the 15min interval chart (5 days) of AKAM. Watch for a break below the trendline.