Simon's (and everyone's) Breakout Thread II - Page 186

A crappy broad market won't necessarily keep pennies from running, but either way you have to be aware when the pennies aren't panning out well. I've definitely had a string of piss poor performers on some nice setups, and yes I was actually getting ready to post that I think it's time to take it easy on these plays, go more conservative, start scalping them, etc. I'm giving them too much wiggle room and right now it's burning me, so I gotta stop touching that flame. I am not ready to throw in the towel though, but I am going to be more cautious here, probably start scanning for different setups. Not really sure how I'm going to go at it here, time to do some brainstorming.

BTW, I am not ready to get fully bearish yet on the broad markets. Despite how close we are to teetering over the edge, I think that big money still hasn't sold out yet and that retail traders are overly bearish. Not that they should be bullish on the general outlook, but those conditions I described are the fuel for a rally, not a crash. I'm very, very tentatively bullish for the summer in general, and this weakness/selling I think will be a final shake before we see some multi week/month rallying.

Big picture though, very bearish, just had to throw that out there as not to lead people to believe that I'm recommending investing in US markets.

True, I thought that it was going to be able to catch another wave and go into the power zone, but the more conservative approach would have been to wait for the action to tighten up a lot more. Sometimes that works, other times you miss the boat. I chose to take this attempt, and it did not work.

ZAAP is looking promising atm.

NNLX is trying to breakout of a three month triangle, which was sitting on top of old major resistance. This is one of those setups that's been solid for a long time, but longer term setups by nature will take longer to play out.

Testing .40 resistance w/ heavy volume.

ZAAP's chart

The .40 resistance is being heavily defended by the sellers and the market environment hasn't been very favorable to breakouts lately, but when/if this very critical resistance get's broken, it could be a nice runner all the same.

Red line is the 6 month high water mark as well as a trigger line for a bullish head and shoulders. Lot's of battling going on here, I thought the bulls had it broken earlier, but the bears knocked down the attempt.

So far, so good for these two.

HSCC is one to watch today and the coming days. It's wound up super tight, has consolidated the April gains beautifully, and is hanging out right near resistance. I can see this one running today or in the upcoming days, either way it's looking pretty primed and ready, imo.

AMSZ - Not a breakout play in the major uptrend/ blue sky runner sense, but it's still a nice looking setup to me.



Blue area looks like a small bottoming inverse H&S pattern, after that came a high volume rally past resistance of the H&S trigger line and the 50 MA, and the green area highlights the post rally consolidation on top of new support. I'm looking for action if/when it breaks up out of the green zone.

recent stocks I had on watch

Thank you. ZAAP's up another 15% today, it looks like breakouts aren't totally finished yet, I'm still hoping we're going to see some nice runners this summer.

ZAAP breakout beautifully, NNLX is holding above the breakout point in the upper .70s, and HSCC is farting around but it's still right below a major breakout point in the upper .04s. AMSZ didn't break resistance on the test of it at the time of my last post on it, but it's still holding support of the flag. I'd put the current breakout resistance right at the last swing high, which is .007.

Anyone of those last 3 could still end up being big runners, and ZAAP has already panned out nicely and doesn't look like it's topping yet.