Weekly Watchlist Results

CRUS=Cannot be included in results because resistance break never occured.
CYT=-2.08%
MOD=-1.6%
MSD=+2.09%
MXF=-2.6%
OMNI=+10.34%
Average Return=+1.23%
Over the weekend I will post next week's weekly watchlist. Sorry for the lack of posts this week, I have been extremely busy. I will be back to my regular posting this week.

Weekly Watchlist

OMNI Energy Services Corp. (OMNI). OMNI has been trading in a range as of late and we finally broke that pattern on Friday with more than a 10% move. I expect this stock to really move this upcoming week.

The Mexico Fund, Inc. (MXF). Watching for an ascending triangle breakout.

Morgan Stanley Emerging Markets Debt Fund Inc. (MSD). Here we have the first closed end fund to appear on the weekly watchlist. Watching for a symmetrical triangle breakout/breakdown.

Modine Manufacturing Co. (MOD). Completion of inverted head and shoulders pattern on Friday.

Cytec Industries Inc. (CYT). Symmetrical triangle breakout here. Looking for several days of follow through here.

Cirrus Logic Inc. (CRUS). Watching for a break of resistance before getting long.

Weekly Watchlist Results

Here are the results for this week's weekly watchlist:
TRMP +3.48%
ENOC +8.59%
FE +1.08%
UPL +4.37%
DPTR +3.8%
SID +7.34%
ASIA +2.31%

Average Return=4.42%

This weekend, most likely Sunday I will post next week's watchlist. You won't want to miss this one.

Potential Plays

Joy Global, Inc. (JOYG). Ascending triangle breakout.

United States Natural Gas (UNG). Waiting for a breakout here, stay tuned.

XL Capital Ltd. (XL). 20 day moving average acting as strong overhead resistance. Looks like a good potential short here.

Comerica Incorporated (CMA). Broke an important area of support, looks like a good potential short.

Option Play and Weekly Watchlist Play

Close out of the INTC April 21 calls for a smooth $.50+ profit per contract. EBAY showed us what disapointing guidance can do, April 32.50 calls are worthless. Good chance to exercise the GA 12.50 puts if you got in them. I am still liking the XLF May 25 calls.

EnerNOC, Inc. (ENOC) was on this week's weekly watchlist. I thought the symmetrical triangle would breakdown and suggested a cover price of around $10. I hope you guys listened and made a ton of cash, and didn't wait to cover and watched the stock climb by 35% yesterday and nearly 8% today. Apparently shareholders are suing the company for stock fraud because the company's executives gave false statements to inflate the stock price. Either way the stock is up huge the last two days and am thinking about entering a short position into the close. Stay tuned.

Options Update

On Monday I wrote about a few options plays I liked:
1) INTC April 21 calls for $.60, now trading at $1.20, maybe time to take some if not all off the table here.
2) EBAY April $32.50 calls for $.71, now trading at $.79, stay tuned.
3) GA April $12.50 puts for $.35, now trading at $.20, not looking so good unless we see a big move lower tommorow.
4) XLF May $25 calls for $1.08, now trading at $1.40, I would continue to let these run. Bottom picking will likely continue after we get through earnings, especially if some of the big names can beat estimates. Tommorow we have Merrill Lynch (MER) reporting.

Evergreen Solar Cup and Handle

Awesome looking cup and handle formation on the daily chart for Evergreen Solar (ESLR). I personally own this stock and will continue to do so as long as the trend is still up. I know, I know, I am supposed to be a short-term trader, and I am, this is just too good of an opportunity to pass up. Solars continue to look good and I expect analysts will start to upgrade the solars. Trina Solar (TSL) got one today, stock was up almost 5%. The new solar ETF is a great opportunity for solar exposure. The symbol is TAN for those who are interested.