Stock Picks and Trade Ideas for Friday/Trade Journal
New Buy Candidates: No New Buy Candidates
New Short Sale Candidates: OMG, PDX
Add To: APWR, BPSG, EPM, GENC, IDSA, IPHS, KBX, MRB, VSCI, WEL, WHT
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Sold for Profit:
Sold for Loss: AIXG (-6.0%), BVX (-8.93%), ADEP (-10.70%)
NOTE: I will post the rest of the trade ideas tomorrow. It has been a long and busy day for me and I am a bit tired. I have already finished my research but I would like to see how the markets behave in the morning before I post a exhaustive list of longs.
posted by Nick M. @ 1:06 AM
2 Comments:
Hi Nick - Just stumbled on to your blog.... just so wonderful....
I have a couple questions though...
What software/ database are you using to find these picks?
- After you mention a stock, do you put it on a longer term list for future trading.
For example i looked at ADEP which you just mentioned - It had 2 big down days last week, roughly from 12$ to 9$, but in Jan it also fell roughly from roughly $8 to 6 but recovered to 12$ last week.( -20%..ouch), although ADEP reported a decent quarter.
So it might be worthwile to keep an eye on your picks - but there are lots of them - too many i think, for a web-base java tool (like yahoo finance)...So how do you do that?....Thx...
(From Yahoo Chat...FWIW)
Gruber & McBaine Capital Management have about 500K shares in Adept. This company has been unloading shares at prices above $9 over the last year. Today’s stock sell/buy volume was 237K shares, over 10 times the average daily volume.
If this is the situation, then once Gruber & McBaine completely dispose of their Adept stock, the price should go up. (Incidentally, Gruber was one of the callers at the end of Adept’s webcast.)
Hi Rol Lew,
First, thanks for stumbling upon my blog.
For my research, I like to use IBD. They have a wide variety of tools and information. They even have a screener that screens for growth stocks. I recommend IBD as a good starting point to find stocks. I like their Daily Graphs equity research package the most.
I place every stock that interests me on a main watchlist. This includes stocks that I personally bought for myself or others or that I have mentioned on my blog.
I got rid of ADEP because it fell a certain percentage below the price of where I bought it. I tend to cut my losses anywhere from 1-10% from my buy price. As you can see, in the case of ADEP, this was a good idea since the stock has continued to fall. My decision to go long a particular stock rests on the chart. If ADEP can fix itself on its chart and show some support at its major MA's, I have no problem rebuying it. My original motive for going long ADEP was 90% technical and only 10% based on fundamentals. The technicals get me into a stock, while the fundamentals keep me interested in a stock. Finally when I decided to sell a position, I look at the technicals again.
If you are planning on keeping an eye on a large number of stocks, I recommend that you use a watchlist. I use my Telechart for this purpose. I can plug in all my stocks in seperate watchlists and update them whenever I want. It is easy for me to go through even a list of 1000 stocks on Telechart. In addition, I like their chart layouts and options as well. So again, as far as a watchlist and chart program, that is what I like.
I hope this helps. If you have any other questions don't hesitate to ask. You can either post on the comment section or send me an email (link under my profile).
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