Despite the fact that the market got crushed today, we ran across a handful of surprisingly bullish charts. Granted, some were moire bullish than others, but all are worth a look. Those names were Tongxin International Ltd. (NASDAQ:TXIC), Peet's Coffee & Tea, Inc. (NASDAQ:PEET), and Altus Pharmaceuticals Inc. (NASDAQ:ALTU). Here's a more detailed look at each one.

I swear it's charts like that of Peet's Coffee & Tea, Inc. (NASDAQ:PEET) that are going to give me ulcers. Once again we've seen a stock do something great, but leave itself nowhere to go.

The good news is, shares of Peet's Coffee & Tea were up 14% today; that was enough to take the stock past resistance lines around $29.70 and $30.40. Most traders would probably look at our weekly chart below and say PEET had broken out. I might too. However....

In the case of Peet's Coffee & Tea, we've not really seen a great deal of follow-through on any move. I applaud the surge and congratulate current owners. On the other hand, I also question the sustainability. If you feel like you missed out, don't worry.... I think PEET will be reeled in to sub-$30 levels before making its next bullish leg (though I am a long-term bull here).


----------------------------------------------------------------------
Sign-up for Free to Receive Future Commentary
and Trading Alerts on PEET, ALTU, and TXIC.
----------------------------------------------------------------------

When I first glanced at Tongxin International Ltd. (NASDAQ:TXIC) I almost tossed it in the bearish pile without a second thought. For whatever reason though, I decided to plot some Fibonacci lines; I'm glad I did.

If you currently own Tongxin International shares, or are thinking about owning some, don't read too much into my comments - this stock is still hanging by a thread. It's a glimmer of hope though. As you can see, TXIC found support at the 38.2% retracement line yesterday, pushed off of it, and followed-through to the upside (though anemically) today.

Your next step is simple.... wait. If Tongxin International moves under $8.08, expect the shorts to beat the crap out of it. If we see a close above today's high of $9.22, ride the TXIC recovery. It really is that simple.


And finally, though it hasn't yet proven anything of significance, Altus Pharmaceuticals Inc. (NASDAQ:ALTU) got my attention today with its 113% rally.

Do I expect Altus Pharmaceuticals to keep rallying? In a word, no.... at least not right away. The only thing today did - but it was a good thing - was to rock ALTU out of its rut. From here I expect a modest pullback and a few days of lethargic trading.

I only bring it up today to make sure you've got ALTU on your watchlist. When and if Altus Pharmaceuticals start their next (and hopefully better paced) leg higher, then I may be willing to put some capital towards it.

As for a target, I haven't got one yet. I doubt we should even be thinking about the $4.00 shares were trading at last year though.

If you'd like to know of any changes in our opinion of TXIC, PEET, or ALTU (or if we officially recommend them as trades), be sure to sign up for our free newsletter today. It's delivered weekly.