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Watchlist and Stock Portfolio Update

June 9, 2008 by 3 Comments

Let’s start with the hottest stocks that have been on my watchlist over recent weeks:
CLR – Continental Resources Inc.,

  • Young Stocks Moving on Volume

    “CLR – Continental Resources, $46.54, +43%”

  • My latest Stock Watchlist

    “CLR – 38.38, yes, this stock is extended but I like it near $30 or the next base”

  • Highest Rated IPO’s

    “CLR – Continental Resources Inc., $26.57
    This is the first appearance of the stock on this blog as it has had a nice run from $15 to $28 in four months. The stock is extended but trending higher. An ideal entry is above the 50-d m.a. Set up a favorable risk-to-reward trade before entering”

SD – Sandridge Energy Inc.

  • Top Rated Stocks

    “SD – 55.00, Sandridge Energy Inc., made another new all-time high this week and it continues to trend higher on increasing volume. A couple late day reversals to end the week sent up a red flag (minor at this point in time).”

  • Young Stocks Moving on Volume

    “SD – Sandridge Energy Inc., $47.01, +30%”

  • My latest Stock Watchlist

    “SD – 44.28, made almost every screen I ran this week (buy near $40)”

GTLS – Chart Industries Inc.

  • Top Rated Stocks

    “GTLS – 41.89, Chart Industries Inc. is trading near new all-time high territory as the trend is higher. A move above $43 will trigger a triple top breakout on the point and figure chart (a positive sign if it comes on heavy volume and without a reversal).”

  • Young Stocks Moving on Volume

    “GTLS – Chart Industries, $41.05, +45%”

  • My latest Stock Watchlist

    GTLS – 35.48, poor ending to the week but a buy near the 200-d m.a. is fine

  • Chris Perruna Stocks in Review 2007

    “Listed are the thirty two covered stocks in alphabetical order:
    BIDU, BKC, BX, CSH, DVR, EDU, FCSX, FSLR, GRMN, GROW, GTLS, HMIN, HWCC, ICON, JASO, JSDA, LDK, LOOP, MA, MFB, MPW, MR, OMTR, PRXI, PTR, ROCM, SHLD, SLW, SMOD, SNCR, SSRX, VMW”

  • Market Leaders!

    “(GTLS) Chart Industries Inc. – Fresh IPO Ideas $32.45”

  • Leading CP Stocks

    7. GTLS: 37%, $23.05 to $31.54, 6/13/07

  • Make Millions Trading IPOs

    “GTLS has gained almost 35% while institutional sponsorship has increased 55%. The most attractive number of the group is the jump in shares held for GTLS which increased by 102%. Institutions bought 16 million more shares than they were selling for an 8-to-1 ratio. The value of shares bought closed just shy of $500 million while the value of shares sold was only $65 million. The stock looks good long term.”

  • Chart Industries (GTLS)

    “GTLS was Featured in these posts in June 2007:
    6/13/07: Fresh IPO Ideas, GTLS – Chart Industries Inc. – $23.05
    6/20/07: Young Guns Taking Off, GTLS – $24.73″

TITN – Titan Machinery Inc.

IPI – Intrepid Potash, Inc.

  • Intrepid Potash, Inc (IPI)

    “Can Intrepid Potash (IPI) follow in the footsteps of Potash Corp. Saskatch, Inc. (POT)? I will not hesitate to jump on a trend if IPI starts to run higher because crowds are persistent and I don’t like to fight them.”

Current Portfolio Holdings – Growth:

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Filed Under: IPO, Portfolio, Stocks

SOL is ‘En Fuego’

May 14, 2008 by 1 Comment

Renesola Ltd (SOL), $21.67, is on fire over the past several weeks since its IPO debut in January. Volume has been exploding as the stock is up almost 200% since it’s low in late March. I have been watching the stock as it has crossed dozens of nightly screens but decided not to post it to the blog until now.

If you want momentum, SOL is currently providing it. The stock was up more than 15% today on volume 409% larger than the average. At least 11 accumulations days have occurred over the past month as the stock started to log new all-time highs.

The stock is the latest in my pursuit of profits in Chinese, Solar and IPO combinations over the past 12-15 months. JASO was the original poster-child but SOL is now catching my attention. I don’t own shares as of this writing but that could change on the proper entry opportunity (I don’t have one at this time but I will update if and when it happens).

ReneSola, Ltd., through its subsidiaries, engages in the manufacture and sale of solar wafers and related products in the People’s Republic of China. It offers feedstock, ingots, and wafers for the solar industry. The company sells solar wafers to Chinese and international PV cell manufacturers.

Filed Under: 2008 Stock of Day, China, IPO

Young Stocks Moving on Volume

April 29, 2008 by 6 Comments

A screen I run often searches for stocks that have debuted on the market with an IPO within the past two years. I prefer trading in young innovative stocks that can make strong moves based on powerful earnings and revenue increases.

Today’s group contains stocks that are very familiar to this blog as they continue to appear on almost every type of screen I run.

Why?

They have been the leaders of the market over the past 1-2 years at one point or another. I can’t say that I would buy shares in all of the issues listed below but they are on a watch list. Momentum trading has been very profitable over the past 6-8 weeks as we can see in stocks such as CLR and SD.

Continental Resources is up more than 100% since it’s low in January of this year. It’s moved from $24.44 to $47 in one month on huge volume versus the average. The stock is certainly extended but that’s what I thought when it debuted on the blog on January 7, 2008 at $26.57

CLR – Continental Resources Inc., $26.57
This is the first appearance of the stock on this blog as it has had a nice run from $15 to $28 in four months. The stock is extended but trending higher. An ideal entry is above the 50-d m.a. Set up a favorable risk-to-reward trade before entering.

Titan Machinery and Visa Inc reported solid numbers but their stocks went in opposite directions based on the guidance they gave moving forward.

Young Stocks up on Higher Volume
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Filed Under: Daily Stock Screens, IPO, Stocks

Intrepid Potash, Inc (IPI)

April 24, 2008 by 5 Comments

Can Intrepid Potash (IPI) follow in the footsteps of Potash Corp. Saskatch, Inc. (POT)?

If you don’t know by now, POT is up 552% over the past two years, 230% over the past 12 months and 43% year to date; all while the S&P 500 is down 2.25% year-to-date, an amazing accomplishment in this market environment (see chart below).

Intrepid Potash Inc, a producer of crop nutrients, raised $960 million with an initial public offering that priced shares above expectations in the $27 to $29 range. The IPO price came in at $32, $3 above the top of the range expected by underwriters. The original estimate was for 24 million shares to be priced between $24 and $26 per share (30 million shares were offered at $32).

Intrepid Mining, the parent company of Intrepid Potash claims to be the largest potash producer in the U.S. I missed the HUGE up-trend in POT but IPI may give this industry one last run before the trend is over. Markets are not efficient so the greed of crowds may take this IPO higher due to the recent performance of POT. Risks will be associated as a quick sell-off could be a huge possibility if things don’t go the way investors expect.

As you can see from the charts, IPI priced at $32 per share but jumped as much as 50% during the trading debut. The stock reached a high of $53.50 today but closed down 2.6% at $49.09.

Tate from Self Investors notes:

“As far as the fundamentals, they look solid but nothing extraordinary. My take on this is that this IPO comes at a time when the agriculture stocks appear to be near a major top with perhaps one more last climax run left in them. Does this IPO signal the top? Just maybe. Like all IPO’s I’ll let it trade for at least two weeks and only enter on a breakout from a bullish pattern.”

I tend to agree with his analysis for the most part. I will not hesitate to jump on a trend if IPI starts to run higher because crowds are persistent and I don’t like to fight them.

Filed Under: 2008 Stock of Day, IPO, Stocks

Titan Machinery (TITN)

April 21, 2008 by 13 Comments

Stock of the Day
Titan Machinery Inc. (TITN)
Friday’s Closing Price: TITN – $23.97

Sector: Retail
Industry: Retail/ Wholesale Building Products
52-week Price: $9.18 – $24.09

February 25, 2008: TITN – $19.70

Three stocks are catching my eye while making multiple screens over the past couple of weeks. MTL is up over 13% in less than two weeks since I highlighted it in a post titled Basic Materials (Oil) Stocks Making New Highs

Trading momentum is paying-off in the current market environment. Swing trading breakouts making new highs on volume at least 100% larger than the average is king. It’s working so pay attention and be smart while putting on trades. MTL is no longer a buy since it has become extended but TITN and RIO may be setting up for new 52-week highs.

April 14, 2008: TITN – $22.39

TITN – 22.39, solid young stock with an ideal entry point near $20 (looking good)

Fourth quarter earnings are scheduled for Monday, April 28, 2008. I would not be a buyer until after earnings are released (this event will shape my view on the stock and a potential position). Last quarter’s net income rose to $2.7 million, or 36 cents a share, from $0.8 million, or 13 cents a share, a year ago (sales increased 67% to $132 million).

My ideal accumulation area is between $19 and $22 with the best entry coming along the 50-day moving average, which seems to be providing support. The weekly chart is showing clear accumulation by institutional investors as most up-weeks are happening on larger volume while down-weeks are happening on lighter volume.

I will definitely be interested in a position since this stock has been making my nightly screens and scans since February. I have learned that the best stocks are the ones that continually make these scans (that is fact since I started investing with this method in 2001).

Potential Trade Set-up:
Entry: $21.00
Risk is set at 1.0% of total portfolio or $1,000 of $100k
Stop Loss is 10% or $18.90
Number of Shares: 476
Position Size is $10,000
Risk is $2.10
Target is unknown (too little information)

Institutional Analysis:
Held By Institutions: 42.75%
Total Held by Institutions: 62
Money Market: 43
Mutual Fund: 18
Other: 1

New Positions: 60
Positions Sold: 0
Shares Held: 7.43M
Shares Held Previous Period: 0.13M

Shares Bought: 7.3M
Shares Sold: 0
Value of Shares Bought: $134.1M
Value of Shares Sold: $0

Top Institutional holders; Shares Held:
Systematic Financial Management, L.P.; 711,600
Trafelet Capital Management L.P.; 528,500
Heartland Value Fund; 350,000
Heartland Advisors Inc.; 350,000
Wasatch Advisors Inc.; 325,000

Key Fundamental Numbers:
Market Cap.: $320.3M
Outstanding Shares: 13.4M
Float: 6.0M
P/E (TTM): 46.02x
PEG Ratio: 2.09x
EPS Growth (MRQ): 229.23%
Revenue Growth (MRQ): 66.99%
3-Yr Earnings Rate: 54%
3-Yr Sales Rate: 34%

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Filed Under: 2008 Stock of Day, IPO, Stocks
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