03.17.10 TimelessWealth.net: Mid-Week Review, Stocks Watchlist.
On Sunday, March 14th, 2010, TimelessWealth.net published a Market Watchlist for the Week of March 15th, 2010. Our Newsletter Subscribers received notes describing each market in terms of signals and events to seek to potentially capitalize on the outlined stocks.
In a mid-week update, five stocks elected to our Weekly Market Watchlist have met the criteria we were looking for. On average, potential returns mid-week are over 10% in each market! Below we will outline three stocks that have made some of our members money, and left those who missed out thirsty for another opportunity. The immediate success of TimelessWealth's Market Watchlist means we will be publishing stocks to watch every week! Remember to check your mail for our next issue.
On March 14th TimelessWealth.net annotated VisionChina Media Inc. (NASDAQ: VISN):
"Only a few trading sessions have passed since VisionChina Media 'gapped' down from above $8.00/share to $5.75. The primary signal of strength, in this market, is a break above $5.00/share. Support lies below at $4.73, $4.66."
By Mid-Week, shares of VisionChina Media Inc. have rallied 7% from our given 'buy signal'.
TimelessWealth.net wrote the following regarding Yucheng Technologies Limited (NASDAQ: YTEC):
"Nearly two months have passed since the 'bears' overwhelmed the 'bulls' with a gap down in the market from $6.70/share to less than $4.00/share. Longs seem to be recovering as the price broke out above $4.00/share for the first time, on Friday's trading session. They key is for the price to hold above the 10MA ($3.68) and potentially seek a break above $4.15/share."
By Mid-Week, Yucheng Technology Ltd. has rallied over 8% as the price found momentum above the 10MA.
MMR Information Systems, Inc. (OTCBB: MMRF) was interpreted as follows:
"The price has consolidated forming a symmetrical triangle or 'wedge' chart pattern. This pattern suggests the market will make a decisive move to either the upside or downside, depending on sentiment and enthusiasm and/or uncertainty among investors. The key breakout level is $0.115/share."
On Tuesday's session the price broke above $0.115 on strength or above-average volume, and peaked at $0.15, representing a potential 30% return by Mid-Week.
While other stocks outlined in our Market Watchlist have yet to meet our ‘In Play’ criteria, one market we received numerous questions regarding was Washington Mutual Inc. (OTC: WAMUQ). We stated that we were looking for shares of Washington Mutual to rebound and potentially break to the upside after a disappointing session on Friday. That event never occurred as the price drifted lower for two consecutive trading sessions. Wednesday’s session is the first encouraging sign this week because of the ‘engulfing’ candle that formed, indicating potential for reversal in trend. What the market needs most at this point is ‘confirmation’ to a reversal in trend. That means the price must edge higher on strong volume on Thursday’s trading session. We’ll be on the lookout for that activity!
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