Synergy Position Trade Letter

Good morning! Our watch list from Sept. 10th has panned out quite nicely over the past two weeks! There are fewer setups this week than earlier this month now that the market is again heading back into the previous highs and hence decent price resistance, but I have a couple of things that have caught my eye. The main one is Martek Biosciences Corp. (MATK). Martek Biosciences Corporation engages in the development, manufacture, and sale of natural products derived from microalgae, fungi, and other microbes primarily in the United States. It's been in a downtrend since peaking in 2004, but has begun to round off at the monthly lows. These lows were smack into price support from the pre-2003 breakout and rally.

In May MATK took off, shooting higher throughout June and into mid-July. Since then it has fallen into a period of congestion. It had two waves of correction within that trading range and on Friday it busted through a third test of the highs of the range.

MATK is a stock which I feel can keep running throughout the remainder of the year and easily into the next. This might correct a bit on the weekly and lacks a decent daily setup now since the daily trigger was on Wednesday before it had popped up in my scans, so I'll be looking to build a position on correction intraday and on the daily time frame. August lows will serve as support. This pattern on the monthly time frame is very similar to these ones which took place in OSTK and NWRE earlier this year.

Other stocks to watch in coming months for buying ops include BCR and then on the larger time frames I am watching the base developments in ADTN and UPS.

http://www.tradingfrommainstreet.com/images/PositionTradeLetter/PT20070924matk.gif

To learn more about how I locate and trade the positions in this letter, check out my new CD course at http://www.swingtrader.net.

Chart brought to you by Real Tick III by Townsend Analytics, Ltd.

Updates on Open Positions

CLICK HERE for a complete track record since Dec. 2002.*

Positions in green have triggered and are profitable. Positions in red have triggered but are not yet profitable. Those in blue have not yet triggered.

9/10/2007 Short: CAKE, ADP, and IRF. Long: NEM, GG, SYY, ALTR, SLAB, EBAY and PAY.

8/27/2007 Wells Fargo & Co. (WFC) I am watching for a continuation of this breakout on intraday setups for a buy to hold for up to a couple of months. WFC gan an initial setup on 9/18/2007 over $35.79. It has highs of $37.99. The $35 zone is support.

8/13/2007 Iron Mountain Incorporated (IRM) gave a continuation setup on 8/31/2007 at $28.14. It has highs so far of $29.07. My initial target is $40.

8/6/2007 Chesapeake Energy Corporation (CHK) gave an initial setup on 8/31/2007 over $32.06, but it can still have one more flush left in it on eh monthly time time. It has highs of $34.31.

7/9/2007 3M Company (MMM) gave an "early" trigger on 7/12/2007 over $88.81. It has highs so far of $92.50.
Other stocks to watch for long setups: TLK

6/11/2007 McGrath Rent Corp. (MGRC) gave a buy setup on 6/12/2007 over $32.16. It has highs so far of $36.75 (+$4.59, +14.27% move). Some adjusted stops hit.

6/11/2007 Shinhan Financial Group (SHG) gave a buy setup on 6/20/2007 over $125.98. It has highs so far of $148.99 (+23.01, +18.26% move).

6/11/2007 Sandisk Corp. (SNDK) gave a buy setup on 6/11/2007 over $44.28. It has highs so far of $59.75 (+$15.47, +34.94% move).

5/21/2007 Saks Incorporated (SKS) may or may not have triggered, depending upon the entr strategy employed. If triggered, the entry was over $22.80. A few trades went off at that level to trip most stop buy orders.

5/14/2007 The Toronto-Dominion Bank (TD) gave a buy setup on 5/14/2007 at $62.89. It has highs so far of $73.76 (+$10.87, +17.28% move).

5/7/2007 Universal Health Services, Inc. (UHS) Two potential entries to day: May 7th and May 21st over the previous day's highs. Target: $90-$100. Tight trailing stops hit. Long term stops under 2005 lows.

4/16/2007 ConocoPhilips (COP) gave a buy setup on 5/14/2007 over $70.55. It has highs so far of $90.84 (+$20.29, +28.76% move). $60.00 is support.

4/16/2007 Kla-Tencor Corp. (KLAC) gave buy setup on 4/26/2007 over $54.95. Highs so far of $62.67 (+$7.72, +14.05% move).

4/16/2007 Amazon Com. Inc. (AMZN) gave buy setup on 4/16/2007 at $43.77. Highs so far of $91.90 (+$48.13, +109.96% move).

4/16/2007 Pepsico Inc. (PEP) gave buy setup on 4/16/2007 over $64.59. Highs so far of $71.99 (+$7.40, +11.46% move).

4/16/2007 Boeing Co. (BA) gave buy setup on 4/16/2007 over $91.10. Highs so far of $107.83 (+$16.73, +15.52% move).

4/9/2007 Schnitzer Steel Industries, Inc. (SCHN) gave a continuation buy on 4/16/2007 over $46.32. Highs so far of $67.95 (+$21.63, +46.97% move).

4/2/2007 Freeport-McMoRan Copper & Gold, Inc. (FCX) gave an initial buy on 4/3/2007 over $67.19. High so far of $110.10 (+$42.91, +63.86% move).

12/11/2006 The J. M. Smucker Company (SJM) gave a breakout buy setup on 2/13/2007 over $48.30. Highs of $64.32 (+$16.02, +33.17% move).

12/4/2006 Ross Stores, Inc. (ROST) gave a buy setup on 1/3/2007 over $31.15. It has highs so far of $35.17 (+$4.55, +14.61% move).

12/4/2006 Key Technology Inc. (KTEC) gave a buy setup on 12/18/2006 over $15.00. It reached highs of $30.74 (+$15.74, +104.93% move) so far. Some trailing stops hit.

12/4/2006 Granite City Food & Brewery (GCFB) gave a buy setup on 12/19/2006 over $5.35. It reached highs of $6.61 (+$1.26, +23.55% move) so far. Some trailing stops hit.

12/4/2006 Ceradyne Inc. (CRDN) gave a buy setup on 4/3/2007 over $56.00. It reached highs of $84.41 (+$28.41, +50.73% move) so far. Some trailing stops hit.

12/4/2006 ConocoPhillips (COP) gave a buy setup on 12/5/2006 over $67.66. This was a higher risk setup due to the lack of a weekly base. It reached highs of $90.84 (+$23.18, +34.26% move) so far. Some trailing stops hit.

12/4/2006 Questar Corp. (STR) gave a buy setup on 12/4/2006 over $43.65. This was a higher risk setup due to the lack of a weekly base. It reached highs of $58.75 (+$15.10, +34.59% move) so far. Some trailing stops hit.

12/4/2006 Chesapeake Energy Corp. (CHK) gave a buy setup on 2/23/2007 at $30.08. It reached highs of $37.75 (+$7.67, +25.50% move) so far. Some trailing stops hit.

11/6/2006 KT Corp. (KTC) gave a cont. buy setup on 11/7/2006 over $23.44. It hit highs of $26.67 (+$3.23, +13.78% move) so far. Adjusted stop under $21.72 on remaining.

11/6/2006 Ceradyne Inc. (CRDN) gave a cont. buy setup on 11/6/2006 over $48.33. It hit highs of $84.41 (+$36.08, +74.65% move) so far.

10/30/2006 AGCO Corp. (AG) gave a buy setup on 11/1/2006 over $27.68. It hit highs of $49.27 (+$21.59, +78.00% move) so far.

9/18/2006 Henry Jack & Assoc. Inc. (JKHY) gave a buy setup on 9/20/2006 over $21.12. It hit highs of $27.50 (+$6.38, +30.21% move) so far.

9/18/2006 Varian Inc. (VARI) gave a buy setup on 9/20/2006 over $48.75. It hit highs of $65.99 (+$17.24, +35.36% move) so far.

9/11/2006 Sigma Aldrich Corp. (SIAL) gave a buy setup on 9/15/2006 over $36.82. It hit highs of $50.98 (+$14.16, +38.46% move) so far.

8/7/2006 Stericycle, Inc. (SRCL) gave a buy setup on 9/20/2006 over $34.00. It has highs of $56.88 (+$22.88, +67.29% move). Tight trailing stop likely to hit this week.

7/24/2006 Allegheny Energy Inc. (AYE) gave an initial watch list buy setup on 7/24/2006 at $39.89. It has highs of $57.30 (+$17.41, +43.65% move). The 20 week sma is support. Some trailing stops hit.

7/17/2006 Williams Cos. Inc. (WMB) gave a watch list buy setup on 7/24/2006 over $23.29. It has highs of $35.84 (+$12.55, +53.89% move). $25.00 support.

7/10/2006 Immucor Inc. (BLUD) gave a watch list buy setup on 7/20/2006 over $19.77. It has highs of $37.20 (+$17.43, +88.16% move). $16.00 support. Some trailing stops hit.

7/3/2006 ITT Educational Services, Inc. (ESI) gave a breakout buy setup over the $66.18 zone on 7/28/2006. It has highs of $121.34 (+$55.16, +83.35% move) and support at $65. Some trailing stops hit.

6/05/2006 RPM International, Inc. (RPM) gave a breakout buy setup on 9/5/2006 over $19. Highs $25.74 (+$6.74, +35.47% move). Some trailing stops hit.

3/27/2006 Berkshire Hathaway, Inc. (BRK.B) gave a breakout on 5/16/2006 over $3000. It has highs of $3999.90 (+$999.9, +33.33% move). - Brandon

10/17/2005 ASML Hldg NV N Y SHS (ASML) over $17.50 on 11/02/2005. Highs $32.24 (+$14.74, +84.23% move) (channel break trigger). $17.00 is support for a long term position. Trailing stops hit for shorter term position traders. - Toni

* DISCLAIMER: Results are based upon best price hit before the position was closed, or the stop if that hit first. Note: Trading in commodities and securities may not be suitable for all individuals. Consult your broker or other professional to determine your suitability. The discussions provided by Trading From Main Street are for educational purposes only and should not be taken as a recommendation to buy or sell the referenced security. Past performance is not indicative of future results.

If you are receiving this from a friend and would like to have it sent to you, click here.

The above disclaimer and copyright is applicable to all material published on behalf of the Bastiat Group. including, but not limited to, the Morning Watch and News Letter and Weekly Position Trader.

Please visit the Support Center to email questions or comments or contact support@tradingfrommainstreet.com.

To UNSUBSCRIBE from the Position Trader email list, please respond to this email with the word "unsubscribe" in the subject.