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My Watchlist for Thursday, November 02

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xG Technology Inc (NASDAQ:XGTI) Is history repeating Itself ? With small cap stocks history tends to repeat itself. If you follow this stock market long enough and study these small cap stocks closely you can find similar trends, consistencies and other signs. In July this stock ran from $1.55 to $2.65 in just two weeks after breaking a falling wedge pattern that had formed. Anyone that can read this chart above knows this stock has the capability to mount another fantastic rally, because it has been formed the same pattern. The potential is there for XGTI, a 75%+ gain has happened before, could history repeat itself ? The time will tell. Im long.

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China stocks have been hot lately ( CALI, XNET, etc... ) and Recon Technology, Ltd. (NASDAQ:RCON) was one of the better looking hourly charts that came up on my scans this afternoon. Today it bounced in a big way on volume and looks to continue its upward trajectory on Thursday. Might add more longs if we see a spike up towards 1.70. Target will be the 2.50 area.

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Xunlei Ltd (NASDAQ:XNET) This China stock continues to impress me and investors who are short the stock are feeling the pain. It's possible that the current parabolic move could continue a little longer.

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Qualstar Corporation (NASDAQ:QBAK) is on the cusp of a big breakout. I think short-term could see $8.8, but let's see a test and break of $7.5 first.

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Iconix Brand Group Inc (NASDAQ:ICON) bounced and closed up almost 22.5% today on heavy volume after an enormous drop. I'd expect some more gains early tomorrow. Still flagging on hourly. Over 2.15 next stop is 2.36 (EMA20). Technicals are turning up.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.

AC


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