VZ, HPQ, NLST, X

Hi All, I expect a bit of a pull back in the markets short-term.  Therefore, I will be looking for dip-buy opportunities.  Its important to not jump right in and buy if the buy targets hit.  Consider how the market is acting, how the sector is acting, and how the stocks are acting.  If you do buy, don't ignore your stop price.  Protect your capital.

Here are a few new ideas that you might buy on a dip.

VZ - All the support and trend lines have me keeping an eye on the $36.50-$37 area.  It may take a few days to get there. My optimal buy price is $36.50 with a stop just below $36.  The company had earnings on the 25th and sold off a bit on them.  I think they may not have been as bad as some would think.  Plus, they still have a strong dividend. The daily stochastics, MACD, and RSI are all in the oversold ranges.  With a buy at $36.50, I have a target at around $38.50, or $2 (aprox. 5%) profit.  Risk $0.50 for $2 potential.

HPQ - I'm watching the $27-$27.25 area for a dip buy on HPQ. The stock broke out of a short-term coiling pattern and tested its 5-6 month highs.  It looks like it may test that breakout. The 20 and 50 day moving averages are just below this $27 area for additional support. With a buy at $27, my stop is around $26.25 and a target around $30 (or 200 day ma).

X - I took a trade in X last week as it broke out of its resistance on Wednesday.  I bought around $29.10 and sold around $30.25.  I still think there is some opportunity in this stock. It pulled back to the $29 area again and popped off that level on Friday.  If the stock starts weak and ends strong (red/green) it might be an good sign to get in for a continued move upwards.  The 200 day ma is lurking above at just over $33, which would be a good target.

NLST - There has been some good strength in this stock recently.  I missed my last call to buy in the $2.79 and $3 areas for the move to $3.50...ugh.  But, I'll be watching for this $3.15 area to hold and bounce for a continued upside.  The 50 day ma may have to catch up with the price on this one as it seems to be using this average as support.

Please leave a comment!
~JP