For the Week Ahead

CFCI:

• This chemical manufacturing company has got into IBD 100 list 3 times in a row recently with #1 ranking for the last two weeks. Its chart looks great here with healthy pull backs on every gap ups. Like I've said last week, my short-term target for CFCI is 28-30. Since this stock has a tiny float (1.5M), it can move very fast in each direction (possibly between -10% and +10%) during a typical day. Whenever you buy a stock with small float, it is advisable to place your bid at support levels rather than chasing the ask. In this way, you are not likely to be caught high during the swing and your potential losses are minimized.

TASR:

• It is time to do some bottom fishing at this intermediate-term support level (12-13). I will place my stop-loss below 11.8 . My short-term target for TASR is 22.

AIRT:

• This daytraders' favorite stock has consolidated well last week since surging 25% on 11th and formed a nice bull flag on this chart. Looks like to me it is ready for another run-up soon and 20 is going to be its next stop. I'm interested in buying it at around 16.5 on Mon with a stop-loss below 15.8 .
• http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=airt&sid=0&o_symb=airt&freq=1&time=5

ABLE:

• I took my profits on Fri since I dont want to hold it through the weekend. Its chart still looks bullish but MACD&Stochastics are reaching the ceiling. I anticipate an intermediate top on ABLE followed with some pullbacks next week after this over-extended rising trend. I'm looking at 15.5-16 as its short-term resistance and I prefer to only daytrade this stock from now on to keep riding the tide while securing my profits.
• http://clearstation.etrade.com/cgi-bin/details?Symbol=able&Refer=http://clearstation.etrade.com/

GRU:

• This momentum stock has formed a long, extended bullish flag since it bounced off from its support (15-16) the second time on 8th with large volume.
• Weekend News: IAC to buy AskJeeves with takeout price $32+/share. I suspect buyout rumor on GRU will probably bring traders and momentum players back into the stock and serve as a catalyst to push it to new highs in the coming week.
• I'm interested in owning it on Mon and hold it for 30+.
• http://www.thestreet.com/_yahoo/tech/internet/
• 10214006.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
• http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=gru&sid=0&o_symb=gru&freq=1&time=5

Stay tuned on more updates throughout the week and good luck!