Most Oil Stock Might Rise in Price

Due to a possible disruption of oil supplies in Russia, which is the 2nd largest oil supply country after Saudi Arabia, many oil companies will have to step up to meet the supplies.  This means that the price of the oil will increase.  What it translates to is increase in many of the oil stocks.  Watch UPL, its price will skyrocket.

Couting Base

To count bases, make sure each pattern (except for a flat base) is at least seven weeks long.  Short consolidations don't count.  The stock must rally at least 30% between each base. So a flat base that's up only 15% above a previous base gets counted as part of the first base.    

Resetting the base count is a tricky topic.  As a stock corrects, the low point of its base shouldn't undercut the prior trough.  Like a staircase, each base sits a step higher.  If it does undercut the last base, you reset the base count to zero.

ISRG Sold

The market has not been doing well lately.  I would categorize it as a bear market.  The price of this stock has fallen 8%, from $20.48 to $18.84.  I decided to sell the stock.  Meanwhile, I will hold on my buying spree until the market turns better.

ISRG Stock Analysis

The stock formed many cup with handles. It is hard to determine how many bases the stock has passed through. The most recent base from 3/12/04 to 7/9/04 looks very proper unlike the bases it had earlier. The stock is likely to shoot up.

ISCA Stock Analysis

Cup with a handle formed from 4/2/04 to 6/25/04. Break-out starts on 7/2/04 with $50.09. Price high is $53.67 this week, 2% above break-out. However, this stock is worth watching. Maybe it'll dip to $50.09 for a buy.

CMC Stock Hitting Its Break-Out

CMC stock hitting its break-out on 7/9/04. It's traded at $34.00. With an overall rating of A+, I will begin buying some on Monday. The market condition is tepid as stated.

DWSN Sold with Loss of 12%

Price continued to drop with heavy volume trading. I decided to sell all 19 shares of DWSN stock. Price dropped to $21.15 from $24.33, the buy price. I still need to continue to watch this stock as there is a chance for it to rebound.

DWSN Dropped

DWSN dropped once again on heavy trading. Buy price was $24.33. And it dropped to $23.70, a 3% dropped. Further drop on heavier volume will force me to sell it despite its strong fundamentals.

ISSC stock analysis

ISSC stock seems to form a handle with a cup from 12/26/2003 to
6/25/2004. There seems to be a break-out on 7/7/2004. There is still a question to whether it is a proper handle. The downward phase, or left side, of the cup corrects more than 7 weeks (about 9 weeks). It might be too long long of a cup.

Price declined to $21.51 with heavy volume. The buy point, $21.60, is 0.4% higher. The stock has not retreated to 5% below the buy for several days. Need to wait and see how it performs by the end of this week.

At Least 4 Distribution Days

Distribution days have occurred more than 4 times. It is a sign that the market will not do well. I am still holding DWSN and FMD stocks. If one more happens, I will take actions and consider selling those stocks.