Stock Setups

CTIC Cell Therapeutics Part 2

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I am looking at the yahoo finance page for CTIC right now and I see that the DJIA was down 2% today and the Nasdaq was down 2.75% today.  But CTIC closed at 1.57 only a penny down from yesterday and for practical purposes basically unchanged.

I am not posting a new chart of CTIC in this post because the action today was for the most part motionless.  The fact that CTIC was so tame today should speak volumes by itself given the minor beating the broad market took today. 

I realize I am only focusing on one day’s price action but it is still important in my opinion.  CTIC could have taken a beating today, but it didn’t.  Holders of CTIC stock were not willing to part with their shares today and so it is hinting to me that the shares are in strong hands.

We are still in the apex of the symmetrical triangle formation and we have not made any significant moves either to the upside or downside to warrant any kind of real signal.

So this ‘part 2’ on CTIC is basically just to point out the internal strength that appears to be present in CTIC despite the broad market weakness.

The August 24th date I mentioned previously with regard to CTIC has to do with the FDA making a fast track decision for one of CTIC’s drugs.  I cannot confirm this date or if any decision will even occur on that date.  So for now I am going to ignore that date and just keep it in the back of my mind. 

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CEGE Cell Genesys May be building for a Breakout Continuation Move

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I have been watching CEGE closely, another biotech stock in the face of today’s broad market weakness.  It is holding up quite well and I am impressed so far.  I am also impressed in CEGE’s breakout on big volume two days ago that marked a valid break of it’s longer term down trending resistance line … Read more

A Couple Quick Mentions of ANPI and EPEX

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Someone sent me a quick mention of ANPI in the submit news link at the top of the site here.  They indicated that the pattern was similar to the CTIC stock setup that I mentioned yesterday.  I just wanted to be sure to pass this info on to you and only make a few quick comments.

My quick take on ANPI is that yes it is similar, but for now I still think that CTIC has the stronger pattern and a cleaner pattern.  ANPI at first glance seems to have had a larger retracement and a somewhat more scattered triangle.  Anyway, no in depth analysis here but wanted to pass this info.  Maybe I will do a short write up of ANPI this week if it has merit.

I believe the same person also reminded me that EPEX was beginning to break out of pattern that I had written about before.

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BestOnlineTrades may Focus Exclusively on CTIC Cell Therapeutics

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ctic20090815

I hate to turn BestOnlineTrades into a ‘one trick pony’ for the next couple of weeks, but I may spend a lot of time covering CTIC Cell Therapeutics in a multi part series.  I will still cover some other topics as well, but I would rather focus in like a laser on CTIC and see what can be learned about its behavior and possible outcomes.

The chart of CTIC is notable for several reasons.  It clearly has a solid uptrend with very respectable advancing volume since the March 2009 time frame.  So it has shown us a clear sign of strength off of a major bear market bottom.  This is important because it helps to give added probability for possible future price direction.

Also notable is the fact that CTIC has consolidated sideways for roughly 3 and a half months AND it has not given back too much in the way of price. In other words, price has held relatively firm during the consolidation instead of slanting down or going into a deeper retracement.

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CHB Champion Enterprises Setup Looks Good

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chb20090814

CHB Champion Enterprises has had some big volume come in recently (shaded in green on the stock chart above, click on it for full size).  And it is looking like a big move could be coming to the upside.

After a brief multi day spike up in March CHB has not really participated at all in the broad markets super rally.  After that spike up in March CHB pretty much has drifted sideways in what I consider to be a very long consolidation.

It drifted down in mid July in what appears to be a final bottom for CHB.  What is significant is that CHB did not continue to break down to retest the lows of March.  This is important because it is a hint of at least some strength in the stock and says that CHB is strong enough to resist a full retest.  It is good bottoming action I like to see.

Even more significant is that now CHB has had a big surge in volume come in on the recent advance and price seems to be consolidating in a sideways triangle type formation.

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CORS Corus Bankshares Could Get a Big Upside Pop Soon

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CORS is an extremely risky type of play.  But without risk, then how do you get reward?  Anyway, I think this bank stock could possibly get a big pop soon, maybe even within the next 2 days.  There is a huge short position and to be sure there are all kinds of trading games going on with CORS.

But I do like the recent much heavier than normal 5 day advancing volume, but admittedly without too much price follow through.  CORS has been flat for about a month and a half and it is perched right under a longer term resistance level.

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CTIC Cell Therapeutics May Start a Run Soon

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ctic20090812

It is quite amazing that CTIC has had such a huge run from a beginning price of about .05 cents.  It has been an astounding run.  I was not smart enough to highlight it at .05, but that is a mute point now.  The fact is that CTIC has shown a huge sign of strength in the run from .05 to slightly above 2.00. 

But if you look at the chart carefully, you can see that CTIC has a certain trading personality and unique trading style that is important to take note of.

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ETFC ETrade Rising back from the Dead

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Etrade Financial looks like it wants to come alive again.  If ETFC can get a move going above 1.52 and above that short term white down trendline I think we may see ETFC make a run for the 2.00 range later on this month.  I have been going back and forth on ETFC.  I indicated in my previous article that ETFC was not worthy of consideration anymore because it broke out of pattern on heavy volume and that the setup if any was confusing.

But if you look at the mini chart above you can see that ETFC has clearly held support of the 1.34 area, and that level of support is pretty solid.  So we bounce off that level today and are making a slow motion run back to the top of the range.  But ETFC still needs to overcome the shorter term resistance and get a move going above 1.52 for me to become even more encouraged.

If ETFC was to enter a more bearish scenario then ‘they’ should have been able to take 1.34 out readily the last few days, but ‘they’ didn’t … So now we are back topside again and maybe a new setup is developing here.

I have no clue how ETFC will close today and whether the FOMC news today will either ruin or enhance the run today.  A lot of times when I have seen the market up big ahead of the FOMC it seems like it has usually been a case of buy the rumor and then sell the news.  So I would not be at all surprised to the the broad market only up a couple points by end of day.

But let’s see how well ETFC can hold up today. 

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