Watchlist - Longs

Here is my current watchlist for longs.  I will list my full list with pattern of both and then post charts to ones I am watching closely.  I know a couple of people requested to see these so feel free to comment or ask questions.

Longs:

• BBEP (chart below)
• ELY (ascending continuation triangle)
• FINL (inverted head and shoulders)
• FL (chart below)
• FLIR (resistance, double bottom)
• JBL (chart below)
• KLAC (chart below)
• LLTC (chart below)
• LPHI (chart below)
• LTC (resistance)
• MAR (chart below)
• MEE (chart below)
• MON (resistance)
• MOT (chart below)
• PCX (chart below)
• RHI (saucer)
• RRC (chart below)
• SAI (resistance)
• SLB (chart below)
• SYK (chart below)
• TJX (saucer)
• TSO (downward channel break)




BBEP

BBEP was moving in an upward channel and caught a bit of resistance.  It had a nice pop today now pushing it to the top of the channel.  Would like to see a pull back to support before entering this position.





FL

 Foot Locker has a nice inverted head and shoulders pattern spanning over three years, and has already started a slight pull back.  Offers a good risk/reward setup. 



JBL

JBL offers another inverted head and shoulder setup.  One thing to be careful with this chart is the pattern comes at the top and not the bottom for a reversal.  





KLAC

 Nice breakout on resistance.  Today actually gave a nice setup as it opened down and slowly bought its way positive. 



LLTC

LLTC broke out of resistance and has pulled back today to offer a good entry point

LPHI

LHPI had already broken out and I was opening for a retest before it poured on higher but we did not get it today.  A retest may still be in the works so I haven't ruled this one out. 



MAR

 Marriott sporting a nice cup and handle with a strong breakout above resistance.  Waiting for a retrace to support before entering a position in this one. 



MEE


Nice saucer pattern formed on Massey Energy.  I would actually like to see this one turn into a cup and handle before breaking through resistance.  However if it does break before then it would still be a solid pattern to go long on.





MOT

Motorola following a nice uptrend since early 2009 and now it is pulling back to give a better entry point.





PCX

Beautiful inverted head and shoulders pattern with a nice breakout.  Look for a retest of support before touching this one 



RRC

Range Resources finally showing life after being beaten down.  Formed an inverted head and shoulders and had a solid breakout today.  With the way the market is I would still wait for some pull back before entering this position.





SLB

 Schlumberger formed a cup and handle covering 2 years and has already started a pull back.  Good risk/reward setup.  Would look at putting a stop-loss on other side of the gap up. 



SYK

SYK is a bit of an early pattern but has a well defined inverted head and shoulders pattern forming.  Definitely something to keep a close eye on.