Daily Screen for September 7, 2007

I will start with a small daily screen today, highlighting stocks from two key screens I run every night after the market closes. It is very important to understand that I only run my trend trading screens after the market closes (after market data is best for this system).

Highlight Stock (Making New Highs):

• MR – 36.77, Mindray Medical has been covered on this blog since January 20, 2007 at $24.95. It currently has a 47% gain in eight months and has been making new all-time highs over the past week. The ideal entry has passed but new shares can be added in the future along the 50-day moving average. The stock has been headlined in five posts since January if you use the search feature on the blog (type: “mindray”)

Interesting Stocks within 10% of the 200-d m.a.:

• GOOG – 527.80, currently building a seven week cup shaped pattern with support at the 200-d m.a.
• COH – 45.81, the stock is currently trading below the 200-d m.a. but is has been establishing support above $40 on the weekly chart and the point and figure chart. A move above $47 is positive.
• LH – 78.82, this is and has been a pure trend-buying opportunity for the past two years. The ideal entry is along the 200-d m.a. with support above $70
• EBAY – 35.23, the old timer is starting to move with higher highs and higher lows. A double top breakout above $38 is the next breakout signal. The ideal buy is along the 200-d m.a. on a pull back with lighter volume.

Interesting Stocks: Recent IPOs:

• EJ – 21.88, a young Chinese company that has been trending higher since its debut. Ideal areas haven’t developed but a position can be taken near $19 with support near $16.
• EDU – 55.65, a long time favorite of this blog since it traded in the $30-range. Continue to make buys along the major moving averages (50-d and 200-d)
• STAR – 21.08, a young stock with some upside according to the charts. The latest ideal entry will be near $19 with support just below the 50-d m.a. Give this one some time to pullback and relax before jumping in.
• WCRX – 19.01, currently building the right side of its first cup shaped base with shorter term support at the 50-d m.a. The P&F chart suggest support near $16 to $17. Look for a handle to form on the current pattern, giving us a pivot point.

Detailed descriptions of each screen can be found through this link:
Fundamental Screens and Scans

This is NOT a buy list, please buy and sell at your own risk!