Thursday, April 24, 2014

Buy Tesla While It's On Sale

Some stocks are considered good values, with attractive fundamental metrics such as a low P/E ratio, a low price-to-book ratio, etc. Some stocks are great technical plays, forming bullish double-bottom or cup-and-handle chart patterns.
Then there are some stocks that power higher because they have a genius CEO who brought a product to market at just the right time.
Tesla Motors (NASDAQ: TSLA) is one of the latter, and in my judgment, you'd be crazy not to own the stock at current levels.  (more)

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Anacor Pharmaceuticals Inc (NASDAQ: ANAC)

Anacor Pharmaceuticals, Inc. focuses on discovering, developing, and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. The company’s lead product candidates include tavaborole, an antifungal product candidate that is in Phase III clinical development for the treatment of onychomycosis; and AN2728, an anti-inflammatory product candidate, which completed Phase II clinical trials for the treatment of atopic dermatitis and psoriasis, and chronic inflammatory skin diseases. It also develops AN5568, a Phase I human clinical trial product targeting human African trypanosomiasis. The company’s clinical pipeline also includes AN2718, a topical antifungal product candidate, which is in Phase I clinical trials for the treatment of onychomycosis and fungal infections of the skin; AN2898, a topical anti-inflammatory product candidate that completed Phase IIa clinical trials for the treatment of atopic dermatitis and psoriasis; and AN3365, an antibiotic for the treatment of infections caused by Gram-negative bacteria. It has research, development, and collaboration agreements with GlaxoSmithKline LLC, Eli Lilly and Company, Schering Corporation, Medicis Pharmaceutical Corporation, Bill and Melinda Gates Foundation, and Medicines for Malaria Ventures.
To review Anacor’s stock, please take a look at the 1-year chart of ANAC (Anacor Pharmaceuticals, Inc.) below with my added notations:
1-year chart of ANAC (Anacor Pharmaceuticals, Inc.)
After forming a clear double top (green), ANAC confirmed that pattern when it broke below the $16 (blue) support. The expectation would have been for a bigger fall than just down to $14, but now the stock has broken back above $16. Higher prices should follow, most likely a run back up to at least the $18 (red) resistance.

The Tale of the Tape: ANAC is back above $16. A long trade could be made on a pullback to $16 with a stop loss placed under that level. A break back below $16 would be an opportunity to get short the stock.
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Cotton Forming A Base And Is Ready To Go

This has so far been the year for agricultural commodities. If you’ve been in this space and stayed away from the US stock market, you’ve been doing great. Good for you. But either way, I think Cotton is worth taking a look at. This nice long base we’ve seen Cotton build over the last few years could be the catalyst to take this much higher. Some of it’s colleagues like Coffee, for example, have been on fire. I think this one can join the party.
The first chart shows a nice big base developing over the past few years. After an asset crashes like Cotton did in 2011, the only medicine is time (i.e. Tech after 2000). This base is exactly what was needed:
4-22-14 ct weekly
Now with those key resistance levels in mind, let’s call it 94-ish, take a look at this daily line chart. This is where we’ve been running into trouble for some time. But as always, the more times that a level is tested, the higher the likelihood that it breaks. This is the 4th test in a little over a year and 5th since 2012.  (more)
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McAlvany Weekly Commentary: Central Banks Can’t Fix the System

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Chart of the Day - Zillow (Z)

The Chart of the Day is Zillow (Z). I found the stock by sorting today's New High List for the stocks with the best technical indicators then reviewed the charts using the Flipchart feature. Zillow has a break out chart and since the Trend Spotter signaled a buy on 3/17 gained 14.69%.
Z is a real estate information marketplace. It help homeowners, buyers, sellers, renters, real estate agents, mortgage professionals, landlords and property managers find and share information about homes, real estate and mortgages. The Company provides information through their website and mobile applications.

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