Favorite longs for the week.
I hope everyone had a great holiday weekend and are now well rested for the upcoming final week of 2010. I want to thank the many of you who have expressed kind words over the helpful lessons from our stock market community. Hopefully 2011 pushes the pace in everyone’s learning curve as well. If you haven’t already, start joining our live chatroom during market hours. You can watch many of us in action.
Kodiak Oil (KOG) :  The bulls have a firm grasp and have given the bears little to work with as the latest pullback was only a 38% retracement of its previous move up. KOG reached a new 52-week high last Friday and looks to continue this streak with healthy pullbacks to add.
AudioCodes Ltd (AUDC) : AUDC is my technology play that is trying to breakout to new levels again. Reached a new 52-week high last week and only retraced 24% of its latest run-up. Could sideways trend some more before a new leg higher is possible.
Repligen Corp (RGEN) : RGEN is a biotech play with 2 trial catalysts in 1st quarter 2011 which could help put it on the radar of many others. When that happens, I expect much upside movement. RGEN saw a recent breakout last week that found me underinvested during the move. However, it may pullback and form a new support line this week. If a healthy pullback on low volume happens, I’ll look to accumulate more in anticipation of the next breakout as we near 2011. Look for great things here in early 2011. I believe most are still unaware of this gem.
Magellan Petro (MPET) A speculative oil play which recently had a breakout and kept moving up from there. In need of a pullback and hopefully this week allows a low volume pullback to accumulate more as I was underinvested here as well.
Other stocks to watch this week are StealthGas (GASS), Magic Software Enterprises (MGIC), AXT Inc (AXTI). Also, watch the natural gas sector this week. With the snow storms being the recent chatter, it could help natural gas stocks see some attention this week.
As always, do your own homework to see if you agree. Good luck out there.
Mike
At the time of publication, Kudrna was Long MPET, AUDC, RGEN, and KOG but positions may change at any time.
