The Machines Kick In

 | Mar 01, 2013 | 10:58 AM EST  | Comments
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The choppy and chaotic action continues this morning, but with a negative bias. The market has bounced well off the early lows but breadth is still almost 2-to-1 negative. Financials are green and the buyers continue to push, which is starting to cause squeeze action. Once again, it looks like the machines have kicked into gear in a buying loop.

I'm trying to stay focused on trades in individual stocks rather than betting on the indices, but this jerky action is not making it easy. Xinyuan Real Estate (XIN), which has been one of my favorites this week, continues to run up, and I'm watching a few thin plays like Opko Health (OPK) and Biolase (BIOL).

One stock that I'm particularly interested in is StealthGas (GASS). This is a play on the transportation of natural gas, which should be a growing theme as U.S. natural gas production continues to grow. The stock is trading with a trailing price-earnings ratio of just 9 and is expected to grow earnings 24% to $1.46 in 2013, and an additional 12% to $1.64 in 2014. The stock is working to take out resistance at $10.50 and it can run up further after some consolidation.

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