The Student Loan Ranger

Good weeks trading this week, pleased with how my setups went. From a numbers point of view, I had an 80% success rate in my trades and earned about 35% more than I would have earned doing 5 9-5 shifts in a supermarket/bar/building site so good in the hood from there.

I am started to get a lot more disciplined in my approach to trading, treating it more as a business application than just something for fun. It is part of my personality to be effective at anything so long as I have a structure and a routine. If I have specific targets and setups, and treat it like I would a job, then I will be a lot more successful than the guy who would have just moseyed along a few months ago while playing champ manager or pro ev at the same time. Although I still think it is equally important to have fun trading and to enjoy the motions.

My discipline is encouraging, and the only trade I lost on was DES - not on my watchlist and a misjudgement of market sentiment. All my other trades were from the watchlist - holding EME from last week, 2 trades in BAY and one in TLPR - and those were all good trades.

PS I took profits in TLPR today at 471 for 9.7% profit.

I've learned the following this week - all very valuable lessons imho.

1. Only trade your watchlist
2. Only trade off your trigger points (or if you know how a stock like SOLA works)
   
3. Set realistic profit targets and take the money
   
4. Don't place a trailing stop 2 hours after the market opens
5. Non-supportive lows will always go lower, non resistant highs will always go higher - then drop to support - and then go again.
   
6. Buy for a reason, sell for a reason
7. Let winners run, don't let losers start the race
   

From this week I am introducing a few new features to my round-ups, basically so I can track my trade success rate, watchlist success rate, and weekly monetary gains if for example £3k were invested in each trade. I still maintain you learn more from your mistakes from your gains, but it is still important to focus on what you do right.

Stocks analysis from this weeks Crystal Balling

Bellway (BWY)

Prediction and chart alerts:

• "... but I feel this will make a move on Tuesday or Monday. Short term price target of 720. Go short on a bear break of 640".
• Watch for moves off double bottom at 645.
• Watch for wedge breakout north and south.

What happened:

• Bear break of 640 was signal to short - dropped quickly to 620
• Currently at 4.5 year lows
• Profits of 3.4% for shorters before brokerage etc
• Successful trade based on original entry points

Not a very interesting chart so won't include. BWY is not looking for support at 620. Any break below 620 indicates a new 4.5 year low hence an indicator to short the stock.

Sci Entertainment Group (SEG)

Prediction and chart alerts:

• "Entry price around 53.5 depending on L2 activities... conservative price target of 60 to 65"
• Multiple bottom support
• Look for descending wedge breakout for entries

What happened:

• Yawn time in SEG. We did not see the entry point at 53.5 and it has stayed in Mondays range all week
• Heavy institutional buying

What a boring week for SEG! A wedge breakout should happen next week, but I don't think I will be trading this stock. 53.5 remains the entry point for SEG. SEG goes down as neutral for this weeks success rate.

VT Group (VTG)

Prediction and chart alerts:

• "Entry points for this stock this week... 631-63... On a hit here I think we will see a bounce... looking for negative divergence and a slight move on the DMI and stochastics to alert me for an entry point in VTG"
• Strong ascending wedge
• Setting up stochastically to coincide with support line

What happened:

• Wicked out to 624, body held at 632 on Thursday.
• I watched the bounce coming back at around 627 live, it was strong and signalled an entry point
• Closed at 654 on Friday after highs at 660
• Looking excellent for next week, and I will look to enter on retracement
• Entry at average prediction price of 632 currently up 3.4% - if I owned I would continue to hold
• Successful trade based on entry points and signals

Was well pleased with VTG as I watched the bounce happen. I did not expect the wicking, and I will watch for that as it could mislead you into taking a wrong position (short in this case). The close of the body is very important in channels and wedges.

Like I say, VTG looks extremely strong leading into next week and represents one of the best trades around at the moment for gains by next Friday. I will keep this on Crystal Balling. This is the best setup I've seen this week... probably.

Confirmation of support strength and following rally

This what I would have waited for on entry if my cash wasn't in TLPR (the 15 minute chart)


Atkins (ATK)

Prediction and chart alerts:

• "I believe will turn bullish shortly... channeling between 1222 and 946... very short price target of 1100 with the potential to run to 1222"
• Short the stock on a bear break at 945
• In short term channel but overall wedge
• Watch for confirmation of support line, and break of short term resistance at 1020ish

What happened

• Bounce confirmed
• Resistance broken and used as support
• closed at 1033 on Friday with weekly high at 1051 - Friday was an inside day
  
• Bit of a slow week, looks very boring
• I have reduced target to 1070
• Buying at average on Tuesday and selling on Thursday would have netted between 1.3 and 1.6% - not worth it in my opinion but technically still a "successful trade"
  
• Off the watchlist

I thought ATK might move faster. I don't like the candle on Friday. It could either be a 180 for bulls on Monday, or an inside day for a small drop then a move. Don't trade the inside wedge in ATK, the returns aren't enough for the risk. Wait for a wedge breakout either side for entry.

Dexion ABS (DAB)

Short and sweet - this is an early prediction of a WM pattern. So far the prediction is spot on. If you had read my pattern spotting post about this pattern, you could have traded the inside M at high risk for minimal profit but it's not worth it.


Let's see what happens next week. Since this has followed my WM prediction I should add it to the successful list, but it's not exactly a trade, so like ATK it's a weak one. I have a funny feeling we will see a rise above the M resistance next week.

Tullet Prebon (TLPR)

I feel I covered this enough during the week so shouldn't need to explain. I will just include a nice looking chart for kudos. Successful trade (11%)

Looks like there is still some wind in the sails, but I hit my adjusted profit target (between 468-480) earlier than I thought and sold into strength. Keep the discipline!

British American Tobacco (BATS)

Prediction and chart alerts:

• "Entry at the support line from the trend with a target of 2025"
• Ascending wedge
• Indicators maturing but not quite ready at time of writing

What happened:

• We did not see the entry point off the wedge
• Indicators still lacking confirmation
• Small trading range the past week
• Would not have entered a trade, therefore neutral

Yawn week for BATS. Will continue to monitor wedge, look at the charts for entry points.

ARM Holdings (ARM)

Prediction and chart alerts

• "Basically I'm looking for support at the 100 day EMA as all indicators look set for a drop... I'm bearish with 99p representing a key value"
• Trying to break downward trend
• Potential inverse head and shoulders forming

What happened

• ARM has wicked 99p twice this week, did not bounce and did not drop
• Massive relative volume on Friday
• Divergence on MACD
• Looking set to do something.. just not sure which
• No entry signals short or long so neutral

Renovo (RNVO)

Predictions and chart alerts:

• "ultra-risk manoeuvres on RNVO... it will either plummet or see spectacular Rocky comeback... look bullish leading into the next few days, but watch close... not be surprised to see this stock on the high gainers"
• Look for fast line EMA break for entry

What happened

• RNVO was bullish into the next few days (Tue/Wed)
• Climbed up to 12% on Friday and hit the top movers list lol
• Still high risk
• Did not break daily fast line EMA so no entry
• Support at lows not tested

Would have loved to enter RNVO, but like I said the risk was too high - it was just one to watch. Entry at any point this week would see you even on Tuesdays opening, so a neutral trade on two fronts.

British Airways (BAY)

Predictions and chart alerts:

• "Double bottom as strong reversal indicator but might be weaker DB than normal... stochastically a bull day on Tuesday"
• Watch both channel resistance lines for breakout

What happened:

• Bullish days on Tue, Wed and Fri
• Traded intra day twice both successful
• Broke out of both channels - now awaiting confirmation
• Successful trade
• Gains anyway from 2-8% (will use 5% for blog calculation)

BAY was good to trade this week. Oil affects the prices quite a lot. News about them ordering new planes is what boosted the price initially. Heavily day traded and tends to wane off at the end of the day. BAY is knocking on the door of the trend resistance and looks good to break, but can't be sure with these blue chips at the moment lol.

Anglo Pacific (APF)

Predictions and chart alerts:

• "Straight forward flag play, check the chart" - kept it brief then
• Flag breakout play

What happened:

• APF has formed a strong ascending wedge in about this flag
• Volume slipping out of it
• Maintain 215.5 confirmed price entry
• Neutral trade for blog, as no entry signal given

Looks like it will make it's move out the wedge next week instead for an entry point. Kept an eye on it, and it tried, but 215.5 is very stubborn for APF

The bottom line

Trading success rate this week:







Watchlist success rate this week (on entries):







Overall watchlist return (Green = good, Red = bad, Grey = neutral):







Net return on watchlist this week (£3k trades at trigger entry and current or taken profits, less 15% for mistiming and brokerage etc):







You would have probably required £9000 overall exposure to generate this amount. It could be greater or higher depending on what you traded and on what days. This is just how I'm working it out.

Good week for entries. This is probably the best way to track my progress as a trader.

Bought into TLPR after it bounced strongly off the channel support. Was in profit quickly but profit taking snakes in the grass already out in force. Will hold with a stop at 421.25 as per the channel support line with price target short-mid at 450 as high as 485 if it looks good.

I am seriously beginning to despair two things, early exits and brokerage fees.

I left SOLA early and missed out on another £500 3 days later.
I left BAY early today, selling at 222, it's now at 227.
I sold TLW (long time ago) way too early as it hits new highs constantly.
I sold EME too early as it is up 25% today.

And brokerage fees added 4p to my average cost for my TLPR entry, which is an absolute nightmare of a price hike. My entry price was 425 (4.5p too high probably).

Charts for TLPR entry (intra day and cropped yearly):




Thursday update:
Didn't want to clog the blog up, I wasn't trading today because of college. Continuing to hold TLPR as it reacts strongly to my analysis. The stock was up 5.3% on purchase today so pleased. Will just include a chart for my exit price to keep the discipline.

I have switched to Quotestream to ADVFN. I feel the product is better, the drawback is having to have multiple tabs open for L2, charting and my watchlist. Apparently ADVFN is compatible with QuoteTracker - but I can only get indices and not equities which is what I need.


Trade looking promising given stochastics, macd and volume reacting to support line on double bottom within triple bottom. Wedge forming outside the channel. I am not wholly confident we will see a breakout, hence my profit taking projections. Hopefully we will see a break of the green EMA tomorrow and a possible golden cross.

SOLA reacted well to my cup and handle call on Tuesday - stalling a little now

Took £100 profits in EME after a strong gap up - will wait for another entry point.

Bad trade in DES (-£47) after missing the bounce and regretting not having one-click DMA trading.

Good quick scalp on BAY for an easy £45. Looking to establish a new position on weakness.

Absolute breakdown on SEG.

BWY a sell at one point, then a buy. All over the place at new 52 week lows.

Slow day across the board, lots of manipulation.

AGA looks like it is beginning to make very slow progress north.

RNVO all over the shop.

Market was terribly dry between 0930 and 1500 as per usual.

Cup & Handle forming on SOLA at 1600.

APF tried hard to break 215 but no success - the wedge continues to narrow and I'm pessimistically optimistic.

EME now just above my initial entry price - will it find support here and move tomorrow?

A fairly hefty and decent looking watchlist coming this week. There's a good mix of signals, patterns and indicators amongst the candidates this week. I will continue to monitor some other stocks from previous round-ups or crystal balling articles.

Bellway (BWY)
Simple short term double bottom play here on BWY. The overall trend is down, but the support established in 2004 held the first time. This is a slightly higher risk play, but I feel this will make a move on Tuesday or Monday. Short term price target of 720. Go short on a bear break of 640.

Bellway stock chart;



Sci Entertainment Group (SEG)
For some reason the graph for SEG keeps mucking up so can't include. An OK strength expansion breakout on SEG is combined within an even bigger longer term consolidation range following huge drops in price over the past 8 months or so.

The stochastics is excellent, the ADX is strong, but what caught my eye was the volume behind the moves at the close of the week. I would put a conservative price target of 60 to 65. Not a great deal higher, but if caught at the right entry point could provide a decent quick return.

SEG has had its fair share of bullish engulfing since the drop, but this volume is the highest since that happened. There has been some selling pressure over the past few months as gaps have been filled and the gains did not surpass them. Potentially people getting out after anticipating better moves. Entry price around 53.5 depending on L2 activities.

VT Group (VTG)
Good looking chart here priming itself for a good entry point. VT group has enjoyed the past 5 years as the stock has pretty much been in an uptrend since 2003. A very strong ascending wedge has formed since January.

With stochastics in the oversold region but still bearish, the directional movement looking bearish and some recent heavy selling pressure - I believe this stock should hit the wedge support line and make a move from there. Entry points for this stock this week in my opinion are a bounce of the line, which represets anywhere between 631 on Tuesday, to 634 on Friday.

On a hit here I think we will see a bounce, based at least on the stochastics and basic technical analysis of trends and wedges. The 100 day EMA has held well, and has only been broken just as the SP hits the support. A similar move happened on Thursday and Friday. I will be looking for negative divergence and a slight move on the DMI and stochastics to alert me for an entry point in VTG.

VT Group stock chart;



I put a medium to long term price target of 811p on VTG, with a short term target of 695p if/when the stock bounces of the support line as shown. Let some run if the 700p area is broken on strength. Go short on a breakdown of the support.

Atkins (ATK)
Atkins is at an interesting juncture at present which I believe will turn bullish shortly. Like VTG the overall trend is up on the long term, but there has been some channeling between 1222 and 946 over the past 16 months. During this time the SP has not dropped out of the trend line, nor has it broken through overhead resistance at 1222.

This scenario sounds like a wedge but I'm not quite viewing it like that. The indicators aren't the best, except for stochastic - which looks good - and more importantly, ties in well with the support line. ATK has set up two short term resistance levels at current price and 1127.

I am bullish in ATK with the very short price target of 1100 with the potential to run to 1222. Obviously, short the stock on a downbreak of the support line with a short covering price of channel support (outside the wedge) at 944. Short again if it drops below this.

Atkins stock chart;



This is another tricky move with great plays to the bulls and bears given by clear entry and exit signals. In the longer term, an opportunity to trade the channels will arise if the trend line support is breached. Use the prices 946 and 1222 for starters.

Dexion ABS (DAB)
Will keep it short and sweet. This stock looks in for a rough period of undefined length if the stock does not reverse at 149.5. This has so far failed a cup and handle, bull flag breakout and a break of the 100 day EMA all after a much failed triple top. The stochastics are very bearish, as are the other indicators and volume. I don't cover many shorts at the moment, but this looks like a good one.

Entry now with price target of 150p. A south break of 155p will add further significance to this drop. On the flip side, bull moves off 155p to above and confirmed prices >158p may see the blues in the winning corner.

Lol just checked my notes, I added this on the above, but also I might speculate that DAB is forming a WM pattern as mentioned in the post "Pattern Spotting" a few weeks ago. I will add the chart to see what you think.

Optimism on DAB chart;



Tullet Prebon (TLPR)
I have decided to withdraw TLPR from in depth analysis as it is not quite ready for entry. It sits in a channel from 433 to 490 in the short term - currently at 433. Look for a triple bottom bounce off 433 for target price of 485. The stochastics are a few days away from being ripe but I will monitor price action. Short on breach of 433 with price target of 390.

British American Tobacco (BATS)
Another ascending wedge here with maturing indicators that will be ready for entry this week. More of a medium term swing trade given the blue chip credentials of the victim.

Check the graphic for entry and exit signals. There have been enough wedges here so don't feel the need to cover. The gray line is indicative of where we might see the move, but more likely off the trend support given the recent double top and stochastics not quite ready yet, plus the MACD divergence didn't improve on the green day on Friday.

British American Tobacco stock chart;



Entry at the support line from the trend with a target of 2025.

ARM Holdings (ARM)
Visual explanation for ARM should suffice. Basically I'm looking for support at the 100 day EMA as all indicators look set for a drop. Inverse head and shoulders prediction led directly to a high double top which has not quite seen that big a drop yet.

I'm bearish with 99p representing a key value this week.

Renovo (RNVO)
I've gone for ultra-risk manoeuvres on RNVO. The stock has been in free fall lately as it plummeted to new lows on Thursday, followed by gap up bullishness on Friday. I probably won't enter this trade given the high risk nature, but it will be interesting to watch - for me it will either plummet or see spectacular Rocky comeback movement.

The stochastics look bullish leading into the next few days, but watch close. I will not be surprised to see this stock on the high gainers, or high losers lists this week. Wait for a fast line EMA break for entry.

British Airways (BAY)
Given the nature of the oil beast at the moment, I'm not so sure BAY is a stock I should be dicing with. I will look at it from a technical perspective. See the notes on the chart.

British Aiways stock chart;



Anglo Pacific (APF)
Straight forward flag play, check the chart for info.

Anglo Pacific stock chart;



Others:
Look for a double bottom off the previously mentioned Dairy Crest Group (DCG) at advances on Fridays closing price.

Look for continued moves to new highs on Petroneft (PTR).

I was going to cover more, but it's late and I'm tired.

An horrific week for the watchlist, which as I said wasn't very good to start with. I'll keep it brief as there are some better options this week coming. This week we continue to add stocks to the ever expanding breakout list.

London Stock Exchange (LSE) had a big move, followed by a spinning top (good exit signal for me) and then crashed to a 2 year low. I do not think that this will be a bottom fishing opportunity, the signals point to continued falls in the price, representing a decent shorting position. My prediction of short term gains were way off, and I will stay clear from this stock as it doesn't look like it likes me.

Equator Exploration (EEL) is currently forming a bull flag. A few players have taken profit after the big drop, and a break either side of this flag represents either a strong buy or sell signal. Flags have been very good indicators lately and I rate them highly. I anticipate a break to the bull side for EEL with 12p (sell some and let some run) and 7p (cover your short) very significant numbers for this stock over the next month.

We did see some profit taking on Monday as predicted for Sefton Resources (SER). Yet another flag formation here. Looking for support at 9.50 for an entry or south break for short cover. This is performing well to short term EMAs and should continue the rise if we see a break of 10.50p for what I would consider a strong entry signal.

The descending wedge on AGA Rangemaster (AGA) continues to get tighter and more significant. It is about to strike a fourth bottom at around 281 which is solid support back to 2004. According to my analysis is should break out this week, so I have included a chart for entry signals short and long.


Petroneft (PTR) performed very well this week, although the entry point was not reached. The setup was triple bottom support and stochastics that looked set to drop to the same range. The stock broke bear side on a flag last week which is why I thought we'd see 27.5p for entry. A mini double bottom at 29p shot the stock up to 36.5p. Momentum continues to lie with this stock and I will wait and see what happens next. PTR has also broken out of an awkward descending wedge very strongly.


Maybe my watchlist wasn't so bad after all. Empryrean (EME) had a bounce prediction at 46p, I was off by a penny and it bounced at 47p and now lies at 55.44 on Fridays close. I have taken a position in EME based on Fridays performance. The factors influencing my decision to go long are:

1. Very strong bull flag breakout and bullish engulfing.
2. Based on greatest trading range for the past 22 days.
3. Very large volume ahead of me in the mid to high 60s price range - earlier profits.
   
4. Stochastics very strong.
5. ADX very strong
6. MACD improving.
7. Possible insider buying on pending news.
8. Strong support at 46p which is just within my stop range.
9. High potential to sell intro strength on further moves.
   

I will adjust price targets accordingly, as this stock could move fast and could easily be in the 60-70 range by Tuesday. I would currently accept 65p on the table here. Stop on a break of support circa 45p.

EMED did break to new highs, but after so many gains from March it is due for a retracement which is probably what we're seeing now. There are still a lot of holders in late here so I expect some heavy profit taking to commence soon. Should find support at 25p. All indicators point to down for a while but I would expect the momentum to pick up again later with breaks to new highs.

We did see the retrace on RIFT and then some kind of false breakout on Friday. The high remains at 7.5 which is looking very stubborn. More accumulation and indicators point to a breakout but this isn't a stock I would gamble on short term, given the amount of traders in at a significantly lower price. Buying now will mean buying into profit takers. Hold for a better and clearer entry.

Pure insanity over on Tower Resources (TRP) as the market makers are in clear control of this stock, it is a no win situation until the MM situation has been resolved. This could be the most tremendously huge bull flag ever though - so keep an eye on it. It's all about spining tops yo.

ReneSOLA (SOLA) broke to new highs as predicted, but has seen some heavy profit taking and selling as new traders continue to trade its volatility. The shine may soon come off this stock as it continues to grow in popularity and predictability. I am looking for support at 526-536 or a break of 765 for entry. That represents the current trading range of the stock.

Conclusion
Despite a fairly bad week across the board, momentum stocks offered relative strength in the very short term. It seems wise to shy away from the top 100 for longs at the moment, as the banks keep dragging everything down, while small caps and volatile oil stocks jump and fall on a weekly basis.

There doesn't seem to be any safe money at the moment.

Keep an eye on the oil price, there are a lot of stocks that move based on this figure.

The best setups at the moment seem to be wedges and flags.

There are quite a lot of new highs amongst oil, energy and mining. Despite the lack of good signals, entries over the past 2 weeks would have already provided decent gains.

Short airlines and banks, but be wary of a bounce on RBS.

A lot of the bottom fishing plays that were succesful 3 weeks ago, have began to drop to new lows.

The market will be closed again this Monday, so Crystal Balling will be uploaded on Monday night at some point. Some interesting charts and analysis, including a few revisited stocks from previous articles.

PET crossed 92p and got as high as 103.5 - 1.5p less than short term target for 10% gain. Look for support at 97 area. Buy opportunities on continuation tomorrow according to expansion breakout.

King SOLA breaking to new highs again in UK and US. Adjusted price target of £10 medium term. I re-iterate: "Trade this stock only."

SER on intra-day double bottom, waiting to see a move north soon.

Other stocks from watchlist performing quite well. RIFT slowing for retracement, watch for up moves tomorrow or Wednesday. TRP under serious market manipulation at the moment but is finding support around 7 and 7.5.

Struggling this week for good technical analysis plays this week. A lot of stocks have made some good moves lately, and most of the trades I can spot are on the bear side. Most of the good stuff lies in small cap oil and energy plays, as a lot of them are having their breaks at the moment. I have absolutely no techincal setups for this week after considering some bottom plays on KIE and BLND - which I won't cover as the risk for reward isn't worth it in my opinion.

Some of the below were on Thursday nights hit-list for Friday, some did well and others didn't make their moves. I believe they're all worth watching - as some are set up for reversals, others looking for breakouts/new highs etc.

Momentum plays this week:

LSE is probably the nicest chart which is why I'll include it. The difficulty this week will be a closing over the 50 day ema (red line) which it is close to at the moment. It didn't manage last time and bounce very hard to the new lows it found itself at over the past 2 weeks. Currently just off long term (3 year) support/resistance line - and these types of plays have been 100% profitable over the past 3 or 4 weeks. Watch for moves around 1228p too.

Big jump on high volume for EEL, but stochastics say oversold. I predict down as profits are locked in and then a move back up - but these stocks often don't do what you think.

SER at new highs with strong volume. All indicators say continuation but watch for profit taking on Monday.

AGA on triple bottom with descending wedge - watch for a breakout either side for entry point short or long.

PTR for multiple bottom support at 27.5 entry for short term profits.

EME on a gap break followed by new support bounce and move up play - stochastics awaiting confirmation. Look for bounce at about 46p.

Anything above 29.2p on EMED means a break to new highs. All indicators and volume point to this happening this week. Lock in profits quick here and let some ride.

Look for a 1-2-3-4 on RIFT as it ran away last week then took a breather on Friday. The move was mostly news and ramp based, looks like it will retrace and then continue later.

Follow TRP for an insight into how the market responds to 250% gains in one day.

As always, watch SOLA closely for continued new highs after some retracement.

Like I said, the market doesn't look great this week, hopefully this will change by Tuesday. I won't be getting involved on Monday because of college, so I will have another look Monday night for some short term setups for the rest of the week.

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.

Tomorrow looks set to be one of the best day-trading days since I got interested in the stockmarket. There is a lot of insanely good short term opportunities amongst the small caps, as well as some good reversal plays coming about. There aren't many stocks showing up pattern or indicators wise, but some great looking momentum scalps.

My set-up for tomorrow is:

I won't go into most details, and I will generally be more inclined to trade the stocks with the green next to them;

TRP up 250% in one day, RNS says 10 billion barrels ready for drilling this year. That works out at an SP of about 50-60p. The volume action was insane, and after some profit taking and treeshaking, the stock closed at highs. These chances seem very rare, and I am aware of both the extreme upside potential - but also the extreme downside potential.

RIFT spudded gas well today, closed at highs, good buy volume and action.

EMED another strong momentum play with high potential returns in short/medium/long plays.

PVR the next poential big mover amongst small oil. EME energy play.

I have college all day tomorrow which is a shame. I guess I can't micro-manage on these which is what I'd need to do. TRP looks like it will be my play, but if I can't sell before close then my capital is exposed over the weekend and into any developments before Monday.