The Student Loan Ranger

A fairly good week for the watchlist in terms of predictions etc.

Dairy Crest (DCG)
Prediction: "I think this will go up Monday/Tuesday, and as the profit taking commences I then expect this to go down quite fast"

Well it didn't quite go up on Monday, it formed a hammer top, and then crashed pretty fast over the next 4 days as predicted (-13%). Still a lot of relative recent buying so it will be interesting to see how this reacts to a hit off 405p. My indicators are all over the place here, but mostly bearish in appearance. I may continue to watch this as I believe the 405p mark will tell the story.

Nighthawk Energy (HAWK)
Prediction: "...TA preachers say follow the trend, and for a stock that has made 8 all time high days from the past 9 - then HAWK is a good move. Even once the stochastics pull back a little, I will watch for a turn for entry" AKA unsure!

I didn't get my entry signal, and it hasn't set any new highs this week. Didn't really react to the all time high, and has just moved sideways leaning down this week. This has hugged the green line ema a lot on this run, and I will not consider an entry short or long until we see a move off that - or unless we break 101.5p. It looks like we will see a short term retracement to around 90 before any moves up. Fairly dull week for the stock compared to recent times - maybe HAWK is catching its breath before the next surge?

Petrel Resources (PET)
Prediction: "Realistically, I would look for a move above 92 for entry, with a short term target of 105"

Petrel does not like 92p at all, a price which it has tried to beat all week. Looks like a lot of people are losing patience with this stock which is good and bad. If the volume goes out, then it might drop - this drop might woo them back in and provide a boost. Short term indications say down - and I will watch for a move to about 82p. I would still not enter PET until a clean break of 92p is achieved. Also, any move south of 78.2p represents a shorting opportunity.

ReneSOLA (SOLA)
Prediction: "This flag is highly significant, seeing as it follows the WM pattern I covered a few posts ago - meaning that this could go down or up, quite fast, quite soon. Not one to buy or sell right now though. Buy and sell signals depend on whether the price breaks out of the flag on the bull side or the bear side"

This trade really is one for any doubters of technical analysis. The movement was absolutely textbook on a break of the flag formation. I entered on Wednesday, the day after it confirmed the breakout of the flag and bought at 529 on a rule from hit and run trading about entry points. I got out that day for £750 profit at 632. The stock hit 670 on Friday which would have given a 26% profit.

SOLA is the number one stock to trade in the UK intra-day - no doubt about it.

I will continue to monitor all stocks. PET on +92p, DCG on reaction +/- to 405p, SOLA every day because I know the movements, and HAWK for a break out to new highs.

Next weeks Crystal Balling will focus mostly on momentum plays, and only a few TA set-ups as there aren't many around from last week.