Savoie raises price target on Deckers

Based on the amazing Q3 earnings and positive outlook and given the fact that November and December are the best months for Deckers, I've raised my price target to $84/share for DECK. If you're still in this one, I suggest you hang on for the Christmas rally. Given that our entry price was around 45$, this target would represent a 87% increase in share price in 4 months. If you were to sell at today's price of $70 then you would have a gain of 56% which is still very good for 4 months.

Salesforce Under Promises and Over Delivers (NYSE: CRM)

Shares of Salesforce.com (NYSE: CRM) were up nearly 8% after hours up to $125/share as their 3rd quarter results beat the street's expectations. The company reported quarterly revenue of $429 million, a 30% year over year increase. This number beat the estimates of $410 million. Operating cash flow was up to 74$ million, up 108% year over year. Earnings per share beat the street by 0.01 at 0.32 compared to estimates of 0.31.

Salesforce.com added 4,800 net new customers in the quarter. Total customers now total 87,200, up 28% year over year.

"The story here is growth growth growth" said Andy Kibbens (Co-CEO of TheMarketsAreOpen). Salesforce continues to over deliver on their promises as they continue to guide higher and exceed those expectations.

Deckers beats Q3 Estimates and guides higher!

Deckers Outdoor Corporation reported Q3 earnings of $1.07/share compared to estimates of $0.93/share. The beat in estimates helped boost the stock higher after hours. Additionally, the company increased their guidance for full year 2010 earnings. Deckers is no Skechers. If you were brave enough to hold onto your shares then you benefited from the 6% rise in share price after hours. This company will continue to grow and I think its a great place to stay invested until Christmas.

Deckers to report Q3 earnings October 28th

Deckers Outdoor Corporation will report its Q3 earnings on October 28th, 2010 after the markets close. If you don't have an appetite for risk then you may want to think hard about holding the stock into the earnings. Tonight, Skechers USA inc. reported terrible earnings and the stock was punished severely down more than 13% after hours. I'm not saying Deckers will be anything like Skechers, but just be prepared to stomach that kind of volatility if Deckers were to miss earnings estimates.

It may be prudent to take some profits here before the earnings especially if you've been in with me since the low 40$ range. Deckers is up about 25% since then and that's not a bad return for a few months.

Deckers reaches sell target and breaks out higher

Congratulations to all those who followed me on the Deckers Outdoor Corporation from the low $40s where I started to pick up shares. This stock played out just as anticipated and it has now reached our sell target. However, by looking at the chart below we can see that Deckers is attempting to break out to new highs.



If you still have your DECK shares I would hang on to your shares. Put a stop loss below the breakout point of around $49. If it drops below this I would be out of the stock. However, if the breakout were to do a measured move it could jump another 10$ from here. Also note that we are nearing christmas which is seasonally the best period for the stock. This one is a winner and if you still have it, hang on for the ride!

Deckers Outdoor Corporation (DECK:NASDAQ)

Deckers (one of the famous C.A.N.D.I.E.S. stocks) hit a very attractive level today. This stock is on sale. What do you do when amazing UGG boots are on sale? You BUY BUY BUY! That is exactly what you should be doing with this stock right here right now. Deckers will benefit from strong sales going into the fall and winter seasons. Look at this chart below:



The stock is trading in a very nice range. We can buy here at the bottom of the range and ride it up past 50$. A good sell target would be 51-52$. I picked some up today. I will be buying more if we see 43$ or lower. Good luck with this one!

Banker's 200 DMA Bounce (BNK:TO)

There was a nice reversal in the markets today. One particular stock that grabbed my attention is Banker's Petroleum. I've recommended it many times before and I believe this is another great opportunity to make some money. Back in February, BNK bounced off its 100 day moving average (DMA) and hit resistance on the 50 DMA. With the recent market weakness, BNK has broken down through the 100 DMA but has bounced nicely off the 200 DMA on May 21st. The 100 DMA proved to be a resistance level for the stock as the entire market began to sell off again. However, the stock has just come back to the 200 DMA line again on the daily chart. See below.



I believe today was a good day to get back into BNK. Make sure to put a stop loss beneath the 200 DMA (6.30$) as a breakdown below that will bring the stock into the 5$ range. The sell target is near the 100 DMA (~7.60). I'm banking on Banker's to go higher! Good luck!

Potash Corporation of Saskatchewan Inc. (POT:TO)

Stocks got really cheap last Friday as well as today thanks to the Goldman Sachs fraud story. One stock that really caught my eye for a reversal was Potash. It has been in a steady decline since mid March. The market seems to be in an unstoppable bull market. Even the Goldman Sachs news couldn't keep the market down for too long. Potash made a nice reversal today off a great support level. See below for a 6 month chart with a developing trading channel and attractive stochastics.



Notice how there is a channel forming between the blue lines. Today, the stock bounced off the lower blue line with a nice reversal candle. I see the stock staying within this blue channel. Thus, an entry at these levels yields amazing risk reward potential. A stop around the 104$ level under the previous low end of January would be a good place to exit if the stock were to break down below that level. So, we see about a 4$ downside risk with 15-20$ upside potential where the upside is much more likely than the down. That is a good risk/reward scenario for me. I picked some up today, you should too!

Quadra Mining (QUA:TO)

Quadra mining is looking very attractive in the 16.00-16.50 range. After the FNX mining takeover announcement, this company is even more attractive than ever. Based on the earnings released two weeks ago, this stock should be trading in the $25+ range. I really don't know what else to say other than buy QUA right here right now. Buy a 1/3 position right here, get another 1/3 if it goes into the 15.50 range, then another 1/3 if it drops to the 14.50 range (I doubt we get here but you should be prepared regardless, QUA is a very volatile stock).

Banker's Petroleum set to move higher (BNK:TO)

I had previously posted a 6 month chart of BNK showing where it bounced off the 100 day moving average. Take a look here for a second bounce off that yellow line. We didn't quite get as close as I had wanted. My buy order was at 5.66 and it never got it and it doesn't look like it ever will. This thing reversed strongly to the upside today and I believe it only goes higher from here. The price jumped above the 20 day moving average and will be closing in on the 50 day moving average soon. Look for this one to break above the 50 day moving average. If it does then I see this one easily breaking previous highs of 6.50-6.60 range. Get in on any pullback. Good luck to all!

Sprott Canadian Equity Fund Top Holdings

Sprott has been extremely successful over the past decade by investing in commodity stocks. They are very bullish on materials and energy and not so much on banks. Here is a list of their top 25 holdings as of September 2009. It is usually a good play to get into their top held stocks. As money comes into their funds they will deploy a large percentage of it to their top holdings which will help support the stock prices.

BNK 6 Month Chart

Here is a 6 month BNK Chart with 20/50/100/200 day moving averages. Looks like were stuck near the 20/50 day moving averages right now with support at the 100 day moving average. If the stock dips near the yellow line be sure to pick up some shares!

QUA, QEC, HBM, BNK

Quadra Mining, Questerre Energy, Hudbay Minerals, and Banker's Petroleum are some of my top picks in this market. They would have been extremely great buys in the recent pull back but are also good entries right now. I see their share prices continuing to rise throughout 2010. With copper, gold, oil, and natural gas prices on the rise showing great strength against the recent pullback, I see these stocks benefiting very nicely. They are already up substantially from the lows but I see them going up another 10%+ from here within the next 60 days. These are also very volatile names which can be traded on a short term basis to maximize your gains. I say buy QUA, QEC, HBM, and BNK and you will be very happy with your decision.

Timminco (TIM:TO)

Timminco just released news that it will be expanding its manufacturing operations because it is running at capacity due to high demand for their metals. This is very bullish news and it is why TIM surged 24% today. I expect TIM to see a sharp rally here as shorts panic to cover their positions. TIM has been in a lot of financing trouble lately so I would doubt that this rally would be sustainable. I say get out on the pop sometime this week and be happy with your modest gain.

Banker's Petroleum and Quadra Mining

BNK:TO and QUA:TO are looking very good here. The market is pulling back but these stocks keep pushing upwards. I am very comfortable holding these stocks long here. Will buy on any pullback.