PICKS

It's very late but I haven't posted anything for a while. Here are some great bullish patterns to trade. Make sure you set up a plan for your trade and never risk huge amounts on any pick...mine or anyone elses. RIO and BHP are breaking out of ascending triangle patterns. RIO could run up to around $82 if the market keeps moving upward. BHP could go up to around $104. PCLN looks like it could break out of a triangle pattern very soon. A close above $445 would confirm the breakout. If it does close above $445, this stock could run up to around $470 if the market keeps moving higher. I also like the bullish pattern on CRM if it can close back above its 50 day MA. The profit target on CRM would be around $150. The more that ISRG moves sideways, the more likely it will start to make another move up. I’d stop out if it moves below $320. Upside target around $360. I also like SCCO as a bullish play on copper…since FCX isn’t doing so well after their negative earnings report. You would want it to close back above its 50 day MA for confirmation. I need someone to send me a success story from one (or more) of these picks so that I can get some new stories posted. As for commentary on the market…we are back to the overbought conditions. I’ll keep my eye out for the start of a retracement, but I’ll continue to trade the bullish patterns when I see them. Because of the overbought condition of the market, you will want to keep a larger portion of your capital in cash. With the smaller amount that you are trading, you will want to get into several of these trades in order to spread out the risk. Just because I post a stock pick does not mean that the stock pick is guaranteed to work. Also…I don’t know which of these pick will work and which ones won’t work. This is why you would be better off with smaller trades on many rather than larger trades on one or two. Pay attention to the stocks that need confirmation…and wait for the confirmation.