Wednesday, January 29, 2014

Due its market correction  we are seeing 5% -10% drop on most of the gains from 2013 just in two days.  Will positive President's speech and Feds taper help to stabilize the market? What's to look for and how to take advantage of the bearish market? Try to detect those stocks that resisting and floating against the bearish flow. If they could swim against the stream, they were the ones that would advance most rapidly when the current changed. How to identify those stocks and what to look for? With all that there are a few stocks which are holding its own and WYY is one of them.

WYY I am still long on this stock? 

Widepoint Corp (WYY)

This was a good test day for WYY.  Trading 1.50 pivot point and support before President's speech and Feds Announcement shows that longs are still there and holding strong. Low sell off volume shows us most of the shorts are out.  Slow STO is bouncing from oversold. WYY closing with a Doji confirming a support. There is absolutely no resistance till $1.60 price which we can see either by Friday or Monday next week.  I am still holding my core position from 1.30s and will add more on a dip which most likely is not going to happen.

Tasman Metals (TAS)

 I mentioned TAS  in my previous blog when it closed @1.09 in last 2 days it confirmed a reversal and it has all the room to go to 1.50 the chart speaks for itself. Slow STO buy signal triggered, broke RSI 50 and Mac Histogram starting to revers polarity. I currently have no position in Tas since I missed my 1.00 entry but I am hoping for a minor pullback due to Gold and Silver Market to start one.

Neurometrix Inc (NURO)

I've been trading and  watching NURO for a few weeks now and it has some crazy Volatility. One thing I've noticed is low Volume manipulation in the stock. Nevertheless I like the set up and opportunity it offers for a swing trade and here is why.  Stock is way oversold  with RSI 40.33. Established a support around mda(90) @2.24 barely touching lower Bollinger Band but closing above it. With Earnings Call coming on February 13th I am almost 100% positive for a stock reversal all the way to $3.00 Upper Bollinger Band. I am looking for a good entry point around 2.20-2.24 with very tight stop loss 1.17 and I would not recommend holding it through out Earnings.

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