I have been away for the past few days but IPI and TITN continue to make new highs. The two stocks are up 49% and 69% respectively. I do need to catch up on responding to comments since last Thursday. Follow the trend - simple concept.

(IPI) Intrepid Potash, Inc.

• 4/24/08: Intrepid Potash, Inc (IPI), $49.09
  

  “I missed the HUGE up-trend in POT but IPI may give this industry one last run before the trend is over. Markets are not efficient so the greed of crowds may take this IPO higher due to the recent performance of POT.”

  “I will not hesitate to jump on a trend if IPI starts to run higher because crowds are persistent and I don’t like to fight them.”

• 6/9/08: Watchlist and Stock Portfolio Update
• 6/2/08: Top Rated Stocks
• 4/25/08: Portfolio Snapshot: Growth

(TITN) Titan Machinery Inc.

• 6/2/08: Top Rated Stocks
  

  “TITN – 24.30, Titan Machinery Inc. is still making new all-time highs but did run into some selling pressure near the $26 level. The trend is higher and I am holding until told otherwise by the charts.”

• 5/19/08: Portfolio Stocks on the Move
• 4/25/08: Portfolio Snapshot: Growth
• 4/29/08: Young Stocks Moving on Volume
• 4/21/08: Titan Machinery (TITN)
• 2/25/08: Stocks Catching my Eye - TITN: $19.70
  

  “MTL is no longer a buy since it has become extended but TITN and RIO may be setting up for new 52-week highs.”

Stock of the Day
China Architectural Engineering, Inc.
Wednesday’s Closing Price: CAEI - $10.75

Sector: Industrial Goods
Industry: General Contractor
52-week Price: $4.75 - $27.25

June 6, 2008 Business Wire:

“China Architectural Engineering, Inc. (CAE) (AMEX:RCH), a leader in the design, engineering, fabrication and installation of high-end building envelope systems, today announced that the Company will ring the opening bell at the NASDAQ MarketSite in New York City’s Times Square on Thursday, June 12, 2008 at 9:30 a.m. EDT. The Company will commence trading on the NASDAQ Global Select Market under the ticker symbol “CAEI” on June 10, 2008.”

Although the company has “China” in its name, 45% of its revenue comes from Australia, Dubai, Qatar, the U.S. and Europe. Business week noted that growth should last well beyond the Olympic games this year because of robust orders in foreign markets.

The company’s order backlog is said to be at $100 million or 1/5th of its current market cap, a nice card to have up its sleeve in today’s world market.

The gap-up on the chart in May on huge volume concerns me when attempting to establish a solid risk/ reward trade strategy. I would like to see the gap fill prior to entering a position but I do see support along the 50-d m.a. or even $8 per share. I am going to set-up the “ideal trade” using the current moving average so we can cover a potential pull-back to the gap-up area noted on the charts.

Potential Trade Set-up:
Entry: $7.00
Risk is set at 1.0% of total portfolio or $1,000 of $100k
Stop Loss is 12% or $6.16 ($6.00 area)
Number of Shares: 1,190
Position Size is $8,334
Risk is $0.84
Target is $13 for a 7-to-1 risk/reward ratio

Key Fundamental Numbers:
Market Cap.: $547M
Outstanding Shares: 51.1M
EPS Growth (MRQ): 178%
EPS Growth (TTM): 135%
Revenue Growth (MRQ): 76%
Revenue Growth (TTM): 50%

Earnings per Share (EPS):
$0.50 Next year, +39%; High estimate $0.64, +77%
$0.36 current year, +71%
$0.21 last year, +50%
$0.14 previous year

Let’s start with the hottest stocks that have been on my watchlist over recent weeks:
CLR - Continental Resources Inc.,

• Young Stocks Moving on Volume
  

  “CLR - Continental Resources, $46.54, +43%”

• My latest Stock Watchlist
  

  “CLR – 38.38, yes, this stock is extended but I like it near $30 or the next base”

• Highest Rated IPO’s
  

  “CLR – Continental Resources Inc., $26.57
  This is the first appearance of the stock on this blog as it has had a nice run from $15 to $28 in four months. The stock is extended but trending higher. An ideal entry is above the 50-d m.a. Set up a favorable risk-to-reward trade before entering”

SD - Sandridge Energy Inc.

• Top Rated Stocks
  

  “SD – 55.00, Sandridge Energy Inc., made another new all-time high this week and it continues to trend higher on increasing volume. A couple late day reversals to end the week sent up a red flag (minor at this point in time).”

• Young Stocks Moving on Volume
  

  “SD - Sandridge Energy Inc., $47.01, +30%”

• My latest Stock Watchlist
  

  “SD – 44.28, made almost every screen I ran this week (buy near $40)”

GTLS - Chart Industries Inc.

• Top Rated Stocks
  

  “GTLS – 41.89, Chart Industries Inc. is trading near new all-time high territory as the trend is higher. A move above $43 will trigger a triple top breakout on the point and figure chart (a positive sign if it comes on heavy volume and without a reversal).”

• Young Stocks Moving on Volume
  

  “GTLS - Chart Industries, $41.05, +45%”

• My latest Stock Watchlist
  

  GTLS – 35.48, poor ending to the week but a buy near the 200-d m.a. is fine

• Chris Perruna Stocks in Review 2007
  

  “Listed are the thirty two covered stocks in alphabetical order:
  BIDU, BKC, BX, CSH, DVR, EDU, FCSX, FSLR, GRMN, GROW, GTLS, HMIN, HWCC, ICON, JASO, JSDA, LDK, LOOP, MA, MFB, MPW, MR, OMTR, PRXI, PTR, ROCM, SHLD, SLW, SMOD, SNCR, SSRX, VMW”

• Market Leaders!
  

  “(GTLS) Chart Industries Inc. - Fresh IPO Ideas $32.45″

• Leading CP Stocks
  

  7. GTLS: 37%, $23.05 to $31.54, 6/13/07

• Make Millions Trading IPOs
  

  “GTLS has gained almost 35% while institutional sponsorship has increased 55%. The most attractive number of the group is the jump in shares held for GTLS which increased by 102%. Institutions bought 16 million more shares than they were selling for an 8-to-1 ratio. The value of shares bought closed just shy of $500 million while the value of shares sold was only $65 million. The stock looks good long term.”

• Chart Industries (GTLS)
  

  “GTLS was Featured in these posts in June 2007:
  6/13/07: Fresh IPO Ideas, GTLS – Chart Industries Inc. - $23.05
  6/20/07: Young Guns Taking Off, GTLS - $24.73″

TITN - Titan Machinery Inc.

• Top Rated Stocks
  

  “TITN – 24.30, Titan Machinery Inc. is still making new all-time highs but did run into some selling pressure near the $26 level. The trend is higher and I am holding until told otherwise by the charts.”

• Portfolio Stocks on the Move
• Portfolio Snapshot: Growth
• Young Stocks Moving on Volume
• Titan Machinery (TITN)

IPI - Intrepid Potash, Inc.

• Intrepid Potash, Inc (IPI)
  

  “Can Intrepid Potash (IPI) follow in the footsteps of Potash Corp. Saskatch, Inc. (POT)? I will not hesitate to jump on a trend if IPI starts to run higher because crowds are persistent and I don’t like to fight them.”

Current Portfolio Holdings - Growth:

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Renesola Ltd (SOL), $21.67, is on fire over the past several weeks since its IPO debut in January. Volume has been exploding as the stock is up almost 200% since it’s low in late March. I have been watching the stock as it has crossed dozens of nightly screens but decided not to post it to the blog until now.

If you want momentum, SOL is currently providing it. The stock was up more than 15% today on volume 409% larger than the average. At least 11 accumulations days have occurred over the past month as the stock started to log new all-time highs.

The stock is the latest in my pursuit of profits in Chinese, Solar and IPO combinations over the past 12-15 months. JASO was the original poster-child but SOL is now catching my attention. I don’t own shares as of this writing but that could change on the proper entry opportunity (I don’t have one at this time but I will update if and when it happens).

ReneSola, Ltd., through its subsidiaries, engages in the manufacture and sale of solar wafers and related products in the People’s Republic of China. It offers feedstock, ingots, and wafers for the solar industry. The company sells solar wafers to Chinese and international PV cell manufacturers.

A screen I run often searches for stocks that have debuted on the market with an IPO within the past two years. I prefer trading in young innovative stocks that can make strong moves based on powerful earnings and revenue increases.

Today’s group contains stocks that are very familiar to this blog as they continue to appear on almost every type of screen I run.

Why?

They have been the leaders of the market over the past 1-2 years at one point or another. I can’t say that I would buy shares in all of the issues listed below but they are on a watch list. Momentum trading has been very profitable over the past 6-8 weeks as we can see in stocks such as CLR and SD.

Continental Resources is up more than 100% since it’s low in January of this year. It’s moved from $24.44 to $47 in one month on huge volume versus the average. The stock is certainly extended but that’s what I thought when it debuted on the blog on January 7, 2008 at $26.57

CLR – Continental Resources Inc., $26.57
This is the first appearance of the stock on this blog as it has had a nice run from $15 to $28 in four months. The stock is extended but trending higher. An ideal entry is above the 50-d m.a. Set up a favorable risk-to-reward trade before entering.

Titan Machinery and Visa Inc reported solid numbers but their stocks went in opposite directions based on the guidance they gave moving forward.

Young Stocks up on Higher Volume
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