Other Stocks That I Have My Eye On...

Here are some others that I'm watching...

EMKR (announced new solar contracts, TIVO (won patent suit against EchoStar)...

Out of the two I like EMKR the most. Although TIVO looks strong, its 90M float is killing it. This stock is not going to be making a big move with such a large float. Sp if I had to pick between the two, I'd go with EMKR.

In Play: CZZ, FDG, PTEC, TITN, VRUS

CZZ (in 1t 13.75)

FDG (in around 44.84)

PTEC (in at 15.02)

TITN (in at 16.61)

VRUS (in at 25.42)



I'm looking for an oversold bounce in VRUS. The technicals suggest that the bounce is long overdue. Let's see what happens...

Update: Thats all the buys for today. It's been a long day for me today. Time for some relaxation...

In Play: DROOY, PAAS

DROOY (in at 11.83)

PAAS (in at 37.66)

Treading Lightly...

Since everyone and their mother is expecting the Fed to cut rates by half a point, I've decided to sit on the sidelines. Although I still have a few holdings (AUXL and IMAX are recent additions), I am not buying anything else until I see some strength in the market. The only good thing that I see is that the markets have retreated a bit due to some selling before the news. This shows that traders and investors are a bit cautious. This to me is positive. I would have been more concerned if the markets rallied right up to the decision. This would show too much optimism from the crowd. In my opinion, an absurdly high amount of optimism in the face of uncertainty is the perfect recipe for disaster.

Chart of the Day: IMAX

I have looked at several hundred charts today and none were set up as well as the IMAX's. This is Grade A technical eye candy for even the hard-core chart reader.



IMAX



Notice the strong, thrust-like bounce off of the 50 day MA. If we weren't in a market correction, IMAX would most likely have been a high, tight flag candidate.

In Play: AUXL, IMAX

AUXL (in at 33.16)


IMAX (in at 6.52)

Stock Picks and Trade Ideas for Tuesday (1/29/07)

New Buy Ideas: ACOR, AUXL, CZZ (rebuy), DEPO, DPTR, DVAX, PTEC (rebuy), SMTS, UWN, UXG

These are just a few long ideas. Of course, not all of them will perform well. Concentrate on the ones showing the most strength.

Update 2:30PM- So far, AUXL is the only one showing any real promise.

Add To:

Sell:

Short:

New Favorite Chart Setups

Here are several other charts worth keeping an eye on...

FDG

Right now, FDG looks a bit extended. I'm watching it for a better entry.

INET

This recent IPO has huge potential in the near term future. Now is a good time to buy some as the stock is begining to show some strength.

NURO

Trade Journal for Friday

New Buys:

Added To:

Holds: VSCI

Sold for Profit: CHQ (+28.86%), IRBT (+4.5%), PTEC (+15.18%), VRUS (+8.88%)

Sold for Loss: SUSS (-2.83%), TITN (-2.22%)

New Shorts: DE (in at 83.00)

As much as I hated having to sell CHQ, PTEC and VRUS, I feel as if I had no choice. I had decent gains in all three of them and I did not feel like losing them. This has been a very difficult and confusing market to navigate. Until things cool down, I will be forced to take my profits much quicker. While this may not allow me to squeeze the most out of each trade, it will at least guarantee me a decent piece of the action. The time to load up and hold stocks to see if they bounce, is gone.

Some of my Favorite Setups

Right now, it doesn't get any better than PTEC...

PTEC (3 month) chart

Notice the nice breakout above the 50 day MA. Stellar earnings were the catalyst. PTEC should head much higher as long as the general market holds up.

In Play: CHQ, IRBT, PTEC, SUSS, VSCI

CHQ (in at 3.88)

IRBT (in at 20.25)

PTEC (in at 13.24)

SUSS (in at 25.36)

VSCI (in at 2.69)

You may have noticed that I have mentioned CHQ as a potential long a few posts ago. Today the stock has shown above average strength so I decided to nibble on some. So far it's tasty...


Other stocks that I like: CGPI, CMO, COIN, CREE, DAR, OFG, PTEC, SUSS, WMT

Same Strategy As Yesterday...

Keep an eye on those price levels. The DJIA and the NASDAQ have both come off the opening bell lows. Traders who act irrational and dump shares at the opening bell (or premarket for that matter) are simply playing the amateur game. Don't fall for it.

What Tomorrow May Bring...

I know that this is a main discussion on many stock market blogs. I have a few things to say but I will keep it brief. No matter what happens tomorrow, one needs to keep things in perspective. Do not act irrational and sell your stocks into the panic. Once the market opens, there will most likely be a wave of selling. It will be difficult, but keep an eye on the soft spots and sell into strength. The market may drop 300-500 points in the morning but by the end of the day, it may only be down -250. This would present a far better opportunity to sell ones holdings. Remember, it doesn't matter where or how the market opens, it's all about the close. And also remember that there will be better days ahead. Market down turns are temporary and always lead to strong and robust bull markets. The only hard part is being patient enough to hold through the negative time period. Of course, there are always a small handful of strong stocks to go long during market corrections as well. I will keep an eye out for such stocks as they present a great chance to make up a few percentage points on a beaten down portfolio.

Keep an Eye on Companies That IPO During Market Corrections

There is nothing bolder than for a company to offer an IPO during a market correction. Companies that IPO during such rough market patches are sending a strong clear message that their companies prospects and financials are tough enough to withstand the adverse market conditions. As you may have noticed, the last few weeks (even months) have seen a steadily dwindling supply of IPOs. Many companies have withdrawn their IPO plans. These companies are fearful and do not believe that their companies will have the earnings power to plow ahead in the face of uncertainty. Still, other companies are far more optimistic and are not going to allow a market correction to derail their planned IPO. Here are some IPO's to keep an eye on in the weeks and months ahead.

ATAI (ATA Inc), BHRT (BioHeart), BHTX (Bayhill Therapeutics), CPIX (Cumberland Pharmaceutical), HOO (Cascal), INTL (Intelius), IPCM (IPC), LOGM (LogMeln), OMER (Omeros), RMG (RiskMetrics Group), SC (SeaCastle), SOL (ReneSol), TSMA (Transoma Medical), VLOR (Valor Computerized Systems)

Ripe For a Bounce

Ready for a bounce? Ready or not, it is bound to happen. Markets never go straight up and they sure don't go just straight down. There are always dips in uptrends and bounces in downtrends. This weeks oversold conditions are setting the markets up for a powerful bounce. The only question is, will it create a bottom or just a temporary relief before the situation worsens? This remains to be seen. I've looked for good longs but I haven't found many. There are a few. One stock that seems to be bouncing back is CZZ. I already sold my shares yesterday but I may jump back in if the stock continues to do well. It is too early to tell. Another interesting stock that has caught my attention is ORCH. ORCH showed perfect form as it vaulted itself above its 200 day MA (+8.71%) on nearly 5X the normal daily trading volume. If that doesn't get your attention, I don't know what will. Others to keep an eye on include HITK, IRBT, LCRD and TNDM.

No Relief for Longs...

The current market conditions are just simply appalling. So far, I have sold all of my positions except for TITN and VRUS. So far, these are the ONLY ones that are hanging in there (VRUS more than TITN). So much for my good start for 2008. In retrospect, I should have just held onto my short positions for a longer period of time. This market has been in a down trend since October 2007 (which is when I started some small short positions). Unfortunately, I closed all of them a bit too early. When will I learn from my stupid mistakes??

In Play: FDP, ZGEN

ZGEN just recieved FDA approval for an anti-bleeding agent. Seems like this one may have some momentum.

FDP (in a 35.71)
ZGEN (in at 13.38)

Stocks to Keep an Eye On...

Here are some of the few stocks that are actually doing well today: DEPO, DVAX, EXAC, LCRD, MMSI, VRUS, ZGEN

For now I am just keeping an eye on them. If they continue to do well, I may take a small position in them.

Stock Picks and Trade Ideas for Thursday/Trade Journal

I've been feeling a bit under the weather the past few days so I haven't had a chance to post. Sorry about that. Lets see whats new..


New Buys: WSCI (in at an average of 7.03)

New Long Ideas: CHQ (on a dip), GTS, HSR

Added To: VRUS

Sold for Profit:

Sold for Loss: FEED (-9.10%-yesterday), QGEN (-8.16%)

In Play: FCSX, FEED, VRUS

VRUS may be making a pivot point

FCSX (at 51.36)

FEED (in at 11.25)

VRUS -rebuy (averaged in around 25.90)

Trade Journal

New Buys

Added To

Sold for Profit: COIN (+47%) , MATK (+5.28)


Sold for Loss:

Stock Picks and Trade Ideas for Monday

With Monday just around the corner, most traders and investors are biting their nails in anticipation of the markets next move. Will it be another nasty tumble, or will conditions cool down a bit and bounce from here? Will the Fed step in and save the day? Who knows. All I know is that there will be plenty of new opportunities for both shorts and longs.

New Long Ideas: QGEN (low-risk entry-positive technical and fundamental (released after market close) aspects may provide QGEN with the necessary fuel to plow higher. While I am not expecting QGEN to run up 50% in a month, I do expect it to provide a slow and steady haven for me to park some cash and receive a decent return over a longer time frame.

Intra-Day Watchlist

Here are several stocks that I am keeping an eye on for today: AKNS, COIN, CPHD, CRDC, SEED, TITN


Update: COIN (rebuy-in at average of 7.83), TITN (in at 15.30)

Update: COIN (+11.11%), TITN (+11.11%) Oddly enough, both trades are up around 11.11% each.

Stock Picks and Trade Ideas for Wednesday

New Buys: CZZ (in at 13.15), HOGS (in at average price of 12.70), RADA (in at 2.58), SUNH (in at 18.17)

Thoughts: HOGS and RADA are probably the most speculative of the bunch. I was more comfortable putting more cash to work into HOGS (because of its lower risk entry), than RADA.

Bad Day for Stocks In General...

Anyway you look at it, today's high volume break down was not exactly what investors and traders were waiting for. It almost seemed as if we would have received some relief from the oversold conditions. But instead, the situation worsened as institutions and banks continued to sell off shares of just about everything except gold/silver/mining, agricultural, medical/pharma and oil industry stocks.

Here are some of the top performing stocks. Notice how many of them are part of these above mentioned industries and sectors: BZP, CMED, COIN, CXO, CZZ, HOGS, INCY, REXX, VRUS

In Play: INCY

Here is another strong breakout candidate: INCY

INCY in at 10.65

Stock Picks and Trades for Tuesday

New Buys


Add To


Sold for Profit: COIN (+49.56%-intraday trade), VRUS (+88.32% -in two days)


Sold for Loss

Thoughts: I was thinking of holding onto COIN for longer (possibly until the end of the day or tomorrow, but I decided to sell it sooner due to the uncertainty of the current markets actions. With such a quick gain, I'd rather be safe than sorry.

In Play: MATK, VRUS

Here we go...two new long candidates: MATK and VRUS

MATK in at 31.97 (+6.19%)

VRUS in at 17.05 (+18.7%)

These are just small starter positions. I will add more to the positions if the stocks continue to show more strength later on.

Ignoring the Hysteria and Noise...

One thing that I have learned over the past few years is that intra-day market action is full of hopes, fears, and loud, meaningless noise. The market may pop up to positive territory or slip down to negative ground multiple times today. How does this allow one to accurately gauge the markets strength or weakness? The truth is, it doesn't. The only thing that matters is what price level the markets close at 4pm Eastern time. All the intra- day price action is meaningless up until the actual close. The close is where the finishers and closers come in. These are the institutions and big money players that many stock bloggers mumble and ramble on about. These are the market makers and destroyers. It's their actions that determine what price a stock will close at on its final tick. Therefore, I don't care what price a stock or particular index opens at. All I care about is the price level that it closes at.

Current Open Positions

For those keeping an eye on the markets, you know that the last couple of days have been brutal. In all honesty, it is not a great start for 2008. Still, this kind of action is necessary. It keeps me on my toes and reminds me of the importance of profit taking and keeping losses small. I've trimmed most of my positions heavily. My personal portfolio now holds only a few positions. The portfolio that I manage for others is all cash.

Current Positions:

ARBX, BDE, BIOD, CHTP, INOD, MASI, MTE, PZE, SEED, ULBI, VSNT

Stock Picks and Trade Ideas for Friday

Here are several stocks to keep an eye on for Friday. Buy if (and only if) they display strength.

Buy Ideas: ALTI, BDE, CMED, DSTI, EVOL, FEED, FTI, GBL, GMCR, GU, GXDX, HOKU, HRBN, HOGS, LOOK, MTE, PZE, RMTR, WYY

There are a lot of potential buy candidates. Obviously, not all of them will do well tomorrow. You should only focus on the ones showing the most strength.

Stock Picks and Trade Ideas for Wednesday, January 2, 2008

Here are the stocks that one should concentrate on for today:
CHP, COIN, CUR, EVOL

Happy New Year!

Just wanted to wish all of my readers a Happy New Year!