Long Stock Picks For Wednesday

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Long Stock Picks For Wednesday

By Scott Johnson on November 5, 2008 | More Posts By Scott Johnson | Author's Website

Most of the best action continues to be in the commodities and energy. Investors are likely to continue to buy dips and breakouts in these sectors. While the following charts are more focused on stocks that are not yet too extended, I will also be looking intraday for stocks that are pulling back to support on low volume.

- SandRidge Energy (SD) was higher with volume yesterday, and looks like it may rally off of this base.

- QuickSilver Resources (KWK) is an oil and gas company that is not yet overly extended. It looks to be breaking out of an area of congestion with good volume. I would look to start a position on a break over yesterday’s high.

- Ensco International (ESV) had big volume yesterday.

- Chesapeake Energy (CHK) looks like it is trying to break out of this pennant.

- Schlumberger Limited (SLB) was higher on increasing volume yesterday. I will look to start a position on a move over yesterday’s high.

- KMG Chemicals (KMGB) is a chemical company that so far has not participated in the rally. The volume patterns are interesting, and it may be building a base here.

- J2 Global Communications (JCOM) broke above resistance on high volume after earnings.

- I2 Technologies (ITWO) is attempting to break out here.

- A-Power Energy Generation Systems (APWR) has room to run.

- Pyramid Oil Company (PDO) is likely to move significantly higher if oil continues to rally.

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