ManyPeaks.com

I apologize for my recent extended absence. Since I’ve last written, most of my work time has involved moving away from trading my personal accounts and taking care of the legal and operational aspects of starting my new money management firm: Teewinot Asset Management. My papers will be filed with the state soon, and I should be taking on client assets in mid-April.

That said, I can’t help but post a few charts I’m keeping an eye on.

ERS is poised to report earnings next week.. I don’t know what day, so I probably wouldn’t even hold over the weekend. Still, tomorrow might make for a good day trade opportunity in this aluminum distributor stock as it busts out of the Feb-March trading range. The way breakouts are failing these days though, I wouln’t let this go against me by even $1.

Medical equipment stock STXS looks ready to get its groove on again. Basing near highs, with its positively huge upside volume pattern this kid could grow up thru its teenage years very quickly. I bought some for my Roth IRA today.

PTIE is developing a hardcore-yet-not-addictive pain drug to try and displace destructive painkillers like OxyContin. Lord knows my home state would benefit immensely from such a development. Anyway, the stock has notched two straight NR7 days after a huge Jan/Feb breakout and following the sideways chop in March. I don’t know if their drug is legit, but this thing looks strong enough that I’ll be both bidding low and putting in stop-buy orders in my IRA account. Since it’s a biotech, I’ll keep the position size relatively low… random FDA announcments make pharma/biotech trades dicier than most.
Long STXS