EBI didn't recover today with a close at $4.40. EBI had an intraday high of $5.25 on the 26/2/2007 and the trend has definitely broken. I highlighted this one as an ASX opportunity looking weak after yesterdays sell off. I'll wait until Monday before deciding on the others that closed below our stop loss.
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The All Ordinaries closed down 2.45% or 148.1 points, matching the losses of China, US and Europe. Although IDL and EBI closed below our stop loss I'm inclined not to recommend any sells until we view the close of US market tonight, but EBI is a possible sell based on its close.
We noticed a lot of the ASX opportunities closed higher from the early sell off, with CHC the only stock closing higher than its open reaching an intraday high of $3.01.
There are bargains to be found in these market conditions that fit both a technical and fundamental strategy, but new positions should be made with caution as market conditions could show more volatility.
EVE is one stock that fits our criteria of entry recently pulling back to $.315 the recent high yesterday of $0.40.
Good luck to all over the next couple of days and please check out Trader Feeders post on what usually occurs in the US market after a 3% loss in one day.
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Added yesterday as an opportunity, CFX reached an intraday high of $2.50. Our stop has been moved one cent higher to $2.40.
Charter Hall - CHC
CHC has been very active over the past couple of days after the release of the first half results which were very encouraging. NPBT increased from $7.8m (1H FY 06) to $16.7m (1H FY 07). A complete list of key activity is outlined in their interim results presentation. Our Stop loss has been moved up to $2.44.
Conquest Miming Limited - CQT
After retracing back to our stop loss of $0.79, CQT has had a couple of higher days moving our stop loss up slightly to $0.795. Long term group still has good separation, and the short term looks to be turning up.
Everest Babcock and Brown Alternative - EBI
Looking very strong, EBI made an intraday high of $5.23 yesterday. Our stop loss has been moved up to $4.95. Separation between the long and short term groups is a nice consistent uptrend with little fluctuations.
Eastern Star Gas - ESG
ESG has been looking weak for the past week and has now closed below our stop loss. The short term and long term groups both are not displaying up-trending characteristics and an exit should be made on Monday. A fund raising was announced during the week at $0.275, which coincided with our stop loss.
Industrea - IDL
CFS Retail Property Trust - CFX
The stop loss for IDL has been moved up to $0.37. IDL's half yearly report was released during the week with the key stats being "Net profit Before Tax up $7.4 million for six months to December 2006" and "Upgraded full year earnings guidance by $2.6 million to $14.9 Million". A lot is happening at IDL and I see further potential in this companies share price.
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CFS Retail Property Trust - CFX
CFX looks to fit our entry criteria. Reached a high of $2.51 on the 13th of February and has since pulled back to $2.45. The count back line looks to be a good indicator for CFX without a break in the past couple of months. Volume is consistently high and with an entry now we can gain a tight stop loss.
Entry $2.45, Stop Loss $2.39.
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Indusrea - IDL
Industrea keeps making new highs. Our stop loss again gets moved up, now at $0.35 which puts IDL into profit. For the fundamentalists there is a lot of infomation available about the IDL story, including an article in the Smart Investor. This information can be download from Industrea website
Eastern Star - ESG
is in a trading halt, keep on eye in the news if you can as the stock sits right on our stop loss.
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Industrea – IDL
Industrea stop again has been moved, now at $0.335. A close yesterday of $0.365 and and intra-day high of $0.375.
Bluglass Limited (BLG)
Bluglass closed below our stop loss of $0.545 at $0.54 yesterday. The trend is looking week and an exit should be made tomorrow. It looked like support was going to hold at $0.55, but the I'm not confident the short term group will respond favorably .
Charter Hall – CHC
We decided to stay in CHC, even though the stop loss was broken last week. The trend wasn't weak enough to exit. Looks like there is short term resistance at $2.50 and a close above will be encouraging. Stop Loss remains at $2.42.
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Everest Babcock and Brown Alternative (EBI)
Good spread between the long and short term group. Count back line has not been broken since uptrend started. Volume may be a bit low, and we have a tight stop loss defined. We'll add this as a trend opportunity, but we could have decided to watch the trading action over the next couple of days and I think we have a tight enough stop.
Last Close $4.75, Stop Loss $4.68.
Regional Express Holdings (REX)
Looks like a potential swing trade based on the Traders Action Zone.
Jubilee Mines (JBM)
Looks like a potential swing trade based on the Traders Action Zone. JBM has higher volume compared to other swing trades I have posted. I'm still in the process of testing this strategy for the ASX.
Bluglass Limited (BLG)
Has had a great run in January, moving up from a low of $0.39 to a high of $0.61. Has just finished its first pull back and looks to be returning to its uptrend.
Last Close $0.58 , Stop Loss $0.55
Conquest Miming Limited (CQT)
Good separation of the short and long term moving averages, looks to have swung back to $0.79 and returning to its trend.
Last Close $0.88, Stop Loss $0.79
Couple of good days with the ASX opportunities and we have some stops moving up based on our count back line.
AUSTIN EXPLORATION LIMITED - AKK 
Closed at $1.015, up from $0.88 at recommendation. Count back line moved up to $0.85 from $0.79.
Industrea – IDL
Bounced nicely from the long term group, and stayed above out stop loss of $0.305. Current close at $0.325, but still below the $0.33 recommendation.
Eastern Star – ESG
Uptrend looks intact, stop loss still at $0.275, current close at $0.295
Charter Hall – CHC
This one keeps moving up. Stop loss has been moved up to $2.39, current close at $2.50
AUSTIN EXPLORATION LIMITED - AKK 
A Bullish hammer occurred on the 12th, which has a low reliability. It requires confirmation of the implied trend reversal by a white candlestick, a large gap up or a higher close on the next trading day, which occurred on the 15th with a bullish engulfing candle.
As we can see on the chart we have clearly defined trend line, spread of the long term group and contraction of the short term group. Current count back line at $0.79, close on Friday at $0.88.
Alliance Resources (AGS)
Alliance Resources (AGS) is an excellent example of Guppy Trend Trading. From its initial breakout from around 30 cents, Alliance has provided only two exits signals using the count back line as exit ($0.75 and $1.69). The exit signal that occurred at $1.69 was when a JORC result was delayed, now due early 2007.
AGS has provided re-entry signals at $0.80 and now it looks like a new entry signal is being provided. This week we will be looking for the short term groups of Guppy MMA (specifically the 3, 5 and 8 EMA) turning upwards indicating traders are re-entering the stock.
I like using AGS as an example of why traders shouldn’t be afraid of stocks that are continuously making new highs.
Envirozel Limited (EVZ)
Envirozel Limited (EVZ) has not provided an exit signal all the way up from its breakout at around $0.16. Long term group show s a nice constant spread, short term group demonstrating healthy retraces towards the long term group. Current count back line at $0.385, close on Friday at $0.41.
Indestrea (IDL)
Indestrea (IDL) keeps maintaining a constant spread between the short and long term groups. Healthy retraces occurred along the way, with the pull back on the 2nd of January of most interest testing the short term group, reconfirming the trend. Current count back line at $0.305, close of Friday at $0.33.
Riversdale Mining Limited (RIV) closed below our set stop loss today. As part of our trading rules we should look to exit tomorrow.
Reconfirmation of the trend if the 3, 5, 8 EMA start to turn upwards over the next coulple of days. If you look close to the end of November this was the case.
Traders with positions should close as per our trading rules. Reconfirmation of trend can signal a new oppotunity of entry and RIV will stay on our watch list.
Eastern Star (ESG) again closed on our stop loss.
Charter Hall (CHC)
This is the first post about CHC (close $2.25)
Count Back Line = $2.17
Easter Star Gas (ESG)
This is the first post about ESG (close $0.32)
Count Back Line = $0.275
Riversdale Min (RIV)
This is the first post about RIV (close $2.20)
Count Back Line = $2.07
Sunland Group (SDG)
This is the first post about SDG (close $3.66)
Count Back Line = $3.53
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