The watchlist is still crowded with buy on the dippers and just plain hot stocks like New Century Energy (Stock Symbol: NCEY). The only adjustment this week is to bump old-timer UDHC off the list. Thanks for the memories but a meager 43% gain from our original buy point way back in the middle of April and the slow decline back to obscurity tells me to put the trading capital to work on something else. The positive note here is that this stock gave plenty of opportunity to get out with a profit.
On a microcap side note, U.S.Concrete, (Stock Symbol: RMIX) tested and rejected the May 27th breakout on significantly lighter volume. In addition this is very close to a 50% retracement from the recent high. This slow boat to China actually doubled in price in one month and it could be turning the corner again for further gains.
On a non-penny note…
If you think the price of a barrel of oil has peaked, you might want to keep an eye on the DUG. This inverse ETF is showing signs of a reversal but I’ll give it a little more time to shake out the weak hands.