AMRN Should Continue to Follow Through

In my previous two articles I said that AMRN was going to start showing strength, and starting Thursday that's exactly what happened. I also said that we should see a near term price target of $13, or even $16! That is yet to happen. So here's why I think AMRN should continue higher. First of all look at the stochastics, MACD and RSI. They were all recently oversold where the stock price came down to a perfect buy area. Unfortunately one of my previous lower trend lines that I had drawn in was broken through, so I had to adjust it, and that's what you see above, the adjusted lower trend line. We finally got the parabolic SAR beneath the stock price which further confirms AMRN is in a new uptrend. Bollinger Bands aren't too contracted, but they have room to expand. Also the last two trading days had good volume, driving stock price higher. The bulls are in control! This is one of my favorite stocks right now and I was lucky to get into this stock in the low $8.

Good luck everyone and happy trading!

AMRN at a good Level

Congratulations to those that added to AMRN on its recent dip. I know I'm happy! I was a little disappointed that the stock broke below my previous trend line; I have the lower trend line adjusted in the chart above. Anyway here we can see that AMRN has made a nice turn to the upside. With stochastics and RSI recently oversold, the stock should show more strength and possible reach the $13 area, as I said in my previous article. I mean today it's already up $.63 (6%), such a nice pop. Tomorrow I'm hoping for more strength, but we could see some side ways movement. The Parabolic SAR should go below the stock price soon to confirm the uptrend, and we should see the Bollinger bands expand soon.

Good luck everyone and happy trading!

Basil Scallops and Brown Rice

Tonight was a crazy night. I ordered the Nike+ FuelBand for my fiancee's birthday. It supposedly arrived today at my door, according to UPS's tracking information. I came home and it wasn't there. I had to make a bunch of calls, and it looks like I may be getting a replacement. After that was all said and done, I needed to make dinner.

I decided to cook up some brown rice with scallops and pesto. I had frozen scallops that I bought from Trader Joe's and had them defrosting in the fridge during work. I made 2 cups of brown rice, made sure it was rinsed really good in a strainer. I then added 4 cups of water into a pot, and dumped the brown rice into it. I put a few thinly slice garlic cloves into the pot and about 1 oz of olive oil. I put it on medium heat and let it cook for about 45 minutes. When the rice started to boil, I lowered the heat to a slow simmer.

In a pan I put about 2oz of pesto that my dad made. I let it heat up for about a minute on medium heat.

I added the scallops into the pan and let them cook between 6 and 8 minutes on each side. Meanwhile, I made a martini.

Simple recipe was used, one shot of vermouth, and two shots of gin. It was mixed up with a few cubes of ice and poured over three olives. Enjoyed it while cooking the scallops.

After cooking the scallops on each side for about 8 minutes, you can add a few cut up pieces of dried chili peppers to spice up the dish a bit. Let the scallops cook another minute while constantly flipping each of the scallops.

Now it is ready to serve. Put a few scoops of brown rice in a dish and place some scallops over top of the brown rice. Pour some of the pesto sauce over the scallops and brown rice.

Enjoy everyone!

AMRN getting ready to show strength

Wow! The AMRN chart looks really good right now! Stochastics and RSI are at oversold ready and are already starting to turn back up. The lower trend line was recently broken and the price almost came down to the 200 day moving average; that was very disappointing. Today we saw some strength though, which makes it a really good entry point for you traders. I think we may see $13 really soon! The long term price target on AMRN is $24. I'm holding this one until then and adding some shares on each dip. Good luck and happy trading!

AMRN almost touching Lower Trend Line

AMRN is almost touching that lower trend line as we speak; only a few cents away. This could be a good position to get into, I would continue to wait for Stochastics, MACD and RSI to turn up first. Going to be keeping AMRN on my watchlist to try and find a good position.

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Market update Monday May 14

S&P 500 Heatmap

As seen in the S&P 500 heatmap above, all sectors were mostly showing losses. A few stocks showed some gains, such as Cisco, Yahoo, Chesapeake Energy; each of these showed +3% rise in stock price. The worst sector for the day was the financial sector, with stocks losing more than 3%.

The chart to the left is of the SPX (SP-500). It has been declining since May 1 and is now in oversold levels according to the Stochastics, MACD and RSI. There is no definitive trend line present, but it is still above the 200 day, which is still a good sign that it is in a uptrend, but it is below the 20 and 50 day moving average. This gives us a good idea that the overall market is in a downtrend, and that proved true with today's trading session. We can basically continue to see some more loss for a few more days. We will want to wait until we see some strength to get into new positions. This is where we need to wait for the Stochastics, MACD and RSI to reverse. Once it does, we have confirmation that the market is heading higher. However if the price comes down near the 200 day moving average and crosses it, we might be in a new downtrend.  

Bullish on VRSN

VRSN stock chart from freestockchart.com

VRSN (Verisign Inc) has been in a nice uptrend since the end of September 2011. Back then the price of VRSN was $27.50, now it is $40.31. The Stochastics and MACD were showing mostly over bought levels during its slow rise, but it has finally come down to over sold levels and it might just be a good time to get in. RSI is almost showing over sold levels. I also found a nice upper and lower trend line which I drew in and can be seen in the chart above. The Parabolic SAR is still indicating a downtrend, but that can soon change, wait for confirmation. Bollinger Bands are also looking tighter and should expand when the price goes higher. Another sign that this stock is in an uptrend is that the price is above the 200 day and 50 day moving average, but below the 20 day moving average. The stock price has almost hit the lower trend line and that's the area that needs to be focused on; between $39.80 and $40. There's a possibility it wont come down to that level and the stock will continue to show strength after Friday's .37% rise. This can be confirmed with volume, Stochastics, MACD and a RSI cross. Once VRSN turns back up to the upside, we can expect a price anywhere in the $44 area. However, if VRSN comes down to the lower trend line and crosses below it, we may be in a new down trend. What I like to do is take profits once that price of the stock has increased a $1 from the initial purchase. If the stock still seems bullish, I stay in longer after verifying it's still safe to hold the stock. Remember to set up stop losses, they really help! Good luck and happy trading!

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