TradeMaster Daily Stock Alerts Blog

I’ve got some catching up to do. James River Coal (Nasdaq:JRCC) is rebounding from July 2’s beatdown. After hitting lows around $41 on Thursday, the stock has hit $48 today. Approach Resources (Nasdaq:AREX) makes its third consecutive appearance on the Top 5 longs today. Anybody who managed to nab the early low Thursday around $24 is doing pretty well.

There was no news to drive AREX lower like that ( and Rex Energy (Nasdaq:REXX) too). Except for the obviously increasing volatility in oil stocks. I’ve been hearing more and more pundits calling for a top for oil prices lately. And while lower oil prices would be nice — and one can certainly see in the charts that oil prices have made the kind of move that looks unsustainable — I’m not going to risk my reputation calling a top. And more importantly, I’m not selling any oil stocks or taking any oil-related shorts until there’s a fundamental change. Until that happens, I consider dips in oil stocks to be buying opportunities.

I continue to be intrigued by Life Sciences Research (NYSE:LSR). The stock first showed up on the Top 5 longs on Tuesday, July 1. The stock traded around $28 most of the day. It dropped to $26.50 on Wednesday as the overall market took yet another beating. Ultimately, though, the stock held up pretty well. I’d really like to see how this stock performs in a rising market. Ditto for Perfect World (Nasdaq:PWRD).

Two new stocks showed up in the Top 5 longs. Thursday July 3 it was natural gas stock GeoMet (Nasdaq:GMET). It traded between $8.50 and $8. GeoMet has a nice looking trendline since the start of the year.

Global Sources (Nasdaq:GSOL) is new today. This one appears to be recovering from a big drop at the start of the year.

Both new stocks look good. And as new members of the Top 5 longs, they deserve a little extra attention if you’re looking for trading stocks. Stocks that have been on TRIGRs radar for a while have often seen a pretty nice run. These “newbies” should have their best moves ahead of them. Of course, as I said earlier, a rising market will help, too.

I’ll cover the shorts in the next post.

Ian

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