Sharks in the Water...
Hey folks,
Don't forget to slip on your life preserver when treading today's markets waters. Sharks are taking advantage of the early weakness and snatching up shares out of unsuspecting 'folios set on autopilot. Take advantage of B.S. downgrades (like the one on RX). From experience, downgrades are usually false and only done in order for the firm (that issued it) to snatch up cheap shares. You can argue with me about this all day, but from MY experiences, downgrades are a buying opportunity!
By the way, EFUT looks like it has support at the current level (high 34/low 35). I am not going to go for it ( I already made my share on it), but this may be a good time to grab a small position. I have to stress the word SMALL because this stock is very volatile and can easily still drop another 40%. Then again, it can go up again today or tomm...who knows??
posted by Nick M. @ 10:29 AM
4 Comments:
Nick
I am looking at NMX IPO tomorrow. What are your thoughts. Also, what do u think of CNP.
Without a doubt, NMX will be crazy tommorow. I expect a way above average aftermarket opening price. Buying it at a decent price will be tricky. I think that it will run up nicely for 3 days in a row. There is so much hype in this IPO, that there will be many buyers bidding it up. Still, it is important to get it at a reasonable price. Watch your charts for price spikes and wait for the perfect opportunity when you see price dips. Pounce on it when there are price dips. As far as CNP is concerned, it has a nice chart (near its 52wk hi). Personally though, I am not crazy on these nat gas/electric utility companies ( I like the pipeline/gas-oil shipping co's like HPGP, DPM type stocks). I am familiar with this co and others in the sector. If there is one thing I remember about CNP, its that it is a very slow mover! In fact, because it is such a slow mover, it is an ideal company to sell calls on. As you can probably tell, I like more aggressive stocks. The most aggressive CNP style stock that I played was SPI. But, if you are looking for a safe stock that will not act too crazy, CNP is a fine choice and looks healthy for now. Of course, keep an eye on technicals, fundies and chart patterns and do not hesitate to sell if things turn sour. The only good stock is a stock that is making you money, otherwise, it is a crappy stock. Anyways, CNP is a good stock (decent), but just not my cup of tea. I will try to grab some NMX tomm! Good luck to you as well! Let me know how your buy on NMX goes!
Nick, I plan to call up Merryl Lynch this morning to see if it is possible to get it at Offering price however we know that would never happen. Secondly, a meeting a come up and I would be away from my computer. Unless the IPO starts at 9.30 or after 11.30 I wouldn't be able to buy. :(
As, I said on my blog CNP is a long term stock and not short term and I agree it is a slow moving (safe looking) chart, however, if one owns says 1000 shares then can play in and out and still make quick profits
Looks like NYM is opening up tomm. This is good, as I was able to free up some more funds. I can easily see this stock doubling in the short term (100 bucks??)You're right, with a 1000 shares you should get a decent return even with a small pop upward. Also like what you are mentioning, the fact that it is a safe trade is also a plus.
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