July 24th, 2011
by Guest Author David Grandey, All About Trends
Let's take a look at a couple of examples from the watch list in our newsletter to our paying subscribers -- starting with an example of what not to buy, then an example of what we did buy and a stock that is setting up to be another good buy should conditions hold up.
Follow up:What not to buy:
Here we have FTNT that was setting up nicely before earnings. It was pulling back off of its highs in an orderly manner and was above support and the 50-day. What we wanted to see after earnings was the stock finding support at the 50-day or the blue or green lines. If that occurred, we would have stepped up to the plate to buy it. However, as you can see, the stock crashed through multiple areas of support and therefore is no longer a buy candidate and no longer on our paid subscriber watch list.
Now let's take a look at what to buy:
Now let's take a look at a stock that is setting up nicely:
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