Still not doing much. I sold off my (BCRX) postion in two parts today. Half at 11.23 and the other half after it failed to push higher and a short call based on valuation came out over the wires....exit at 10.95. In the early pre-market it hit 12.40, but my trading platform does not allow me to trade until 8 am ET and by the time it rolled around the stock rolled came in to 10.60 or so.
I'm still trying to lighten up my long exposure and and not tsking on my risk. So I find myself waiting and watching. I watched but did not partake in a nice rip by (YRCW)from 3.40 breakout to 4.10 cross.
Tuesday, October 27, 2009
Thursday, October 22, 2009
Trading week
I have not done much of anything the last week. I sold a few shares of a couple of my positions as I try to raise more cash.
The market seems to have stalled the last few weeks. The big names were moving but the smaller names are stuck in mud or slowly bleeding daily. That seems to have changed today with the bullish reversal of the crazy bearish reversal yesterday. Lot's of talk that that sell-off yesterday was an old fashion beatdown of a large trader who had to exit the market and everyone knew it and jumped on for a free ride. The market was primed for the sell buttons and it all worked...except the earnings still come in much better than expected.
The jobs and housing market are still a problem, and once they show a solid turn for the better we will have the green light. Until then it seems the market is going to go higher on a few things other than fundamentals, performance anxiety and sidelined bored money along with all the shorts that keep jumping in front of the train and adding fuel to the fire.
The market seems to have stalled the last few weeks. The big names were moving but the smaller names are stuck in mud or slowly bleeding daily. That seems to have changed today with the bullish reversal of the crazy bearish reversal yesterday. Lot's of talk that that sell-off yesterday was an old fashion beatdown of a large trader who had to exit the market and everyone knew it and jumped on for a free ride. The market was primed for the sell buttons and it all worked...except the earnings still come in much better than expected.
The jobs and housing market are still a problem, and once they show a solid turn for the better we will have the green light. Until then it seems the market is going to go higher on a few things other than fundamentals, performance anxiety and sidelined bored money along with all the shorts that keep jumping in front of the train and adding fuel to the fire.
Monday, October 12, 2009
Trades for Monday, October 12, 2009
I finally got some action in (RAME), a small cap energy name I have been sitting in at 1.69 since last Tuesday. I peeled half at 1.83 and the other half at 1.93 for a nice gain.
I scalped (DEPO) and (YRCW) for gains and lost on (ETRM)on a late buy at 1.05...it was a bit of a gamble.
I added to (KERX) today as well.
A long of mine had good news on some cancer treatments...(MRNA). The stock has been popping and fading awys after every news announcement, so I did not add to it this am and it popped nicely but is now fading as I type this. One to watch and see if it gets some traction.
A slow day but the markets lifted up well but are now fading with 90 minutes to the close.
I scalped (DEPO) and (YRCW) for gains and lost on (ETRM)on a late buy at 1.05...it was a bit of a gamble.
I added to (KERX) today as well.
A long of mine had good news on some cancer treatments...(MRNA). The stock has been popping and fading awys after every news announcement, so I did not add to it this am and it popped nicely but is now fading as I type this. One to watch and see if it gets some traction.
A slow day but the markets lifted up well but are now fading with 90 minutes to the close.
Thursday, October 8, 2009
Trade review for Thursday, October 8, 2009
Just took one trade today in (ACPW). Caught it on some news that Google is going to buy an app from them. Loaded up at .97 and peeled half at 1.04 and the other half at 1.08 for a nice profit.
I sold swing (TER) and added small positons in (KERX) and (AVNR) for biotech news plays.
All in all another slow day in what has been a quiet week for me overall.
Watching (WLP) and the healthcare providers tomorrow.
I sold swing (TER) and added small positons in (KERX) and (AVNR) for biotech news plays.
All in all another slow day in what has been a quiet week for me overall.
Watching (WLP) and the healthcare providers tomorrow.
Wednesday, October 7, 2009
Trade review for Wednesday, October 7, 2009
I did not make a trade today. I watched as (RPRX)ripped in the pre-market. I almost loaded an order at 1.40 but am loaded down with longs now and do not want to do much until I lighten up some. To pain me further, (CHIP) got news of a patent approval and ripped in the pre-market right after the momo in (RPRX) was dying out. Again I watched and missed a nice run from 2.40 to 3.00 cross. The daily was set-up perfect in a falling wedge pattern for a nice pop...my instincts said to buy but my bloated long list said, "no more". I need to peel some of these longs so I can clean my plate and be ready for these opportunites that seem to come daily....it's costing large potential gains.
The futures are up after (AA) reported a nice earnings release. The shippers seems to be in favor now and commods and global growth are nice. Throw in some energy and we are good to go, but today's petroleum report was a mixed bag with a much larger draw on crude than expeced but much large build in gasoline and heating oil.
Let's see if the momo will continue tomorrow.
The futures are up after (AA) reported a nice earnings release. The shippers seems to be in favor now and commods and global growth are nice. Throw in some energy and we are good to go, but today's petroleum report was a mixed bag with a much larger draw on crude than expeced but much large build in gasoline and heating oil.
Let's see if the momo will continue tomorrow.
Tuesday, October 6, 2009
Trade review for Tuesday, October 6, 2009
I basically sat on my hands today with exception of buying into a small cap energy name. My swings were doing well again today so I just sat back and did other work as I watched the market.
Natural Gas plays continue to perform from (APA) all the way down to the small names. Energy seems to be the theme for funds, hedgies, and retail players going into the end of the year.
(MSPD) had a nice pop today 2 days after it received an upgrade and $7.00 target.
(HIG) got an upgrade this morning and did not look back.
(UTEK) broke out today on a mid-day upgrade and closed at it's hi. I passed on it at 13.80 because I thought it was extended....nice.
Natural Gas plays continue to perform from (APA) all the way down to the small names. Energy seems to be the theme for funds, hedgies, and retail players going into the end of the year.
(MSPD) had a nice pop today 2 days after it received an upgrade and $7.00 target.
(HIG) got an upgrade this morning and did not look back.
(UTEK) broke out today on a mid-day upgrade and closed at it's hi. I passed on it at 13.80 because I thought it was extended....nice.
Monday, October 5, 2009
Trade review for Monday, October 5, 2009
I have been trading very light the last few days since my beating on (SQNM). That really is the opposite of what I should have been doing, but that was my current mental state. If I had stayed aggressive and took a few trades that I had lined up but did not pull the trigger on, I would have made up my loss by three fold. Trading is funny, you have to care very much about limiting your losses and using risk control, but at the same time you do not get paid if you do not take risk. It's a fine line and your current state of confidence has much to do with how successful your trading week is.
Today the market seemed to be ready to take on more risk and make a move upward that would send shorts into "cover mode" and getting the momo crowd all fired up again. Volume was light but price is price. If we can take out 105 and 106 tomorrow things could get very interesting.
(NTRI) had news in the afterhours that they will be selling it's meal plans in Wal-Marts. Can you say "oh my and by the way...bye bye shorts". Finviz.com has them with a 25% short float, short squeeze has them with a 26.5% short float and 7,509,700 shares held short and the shorts added 1,300,000 shares short in the last 1-3 days. Bad timing for them, good opportunity for traders to ride a squeeze. In the afterhours the price already hit a new 52 week hi touching 19.16 before settling at 18.60. The weekly chart has resistance levels at 19.50 ish, 22.60, 25.00, and 30.50 ish if it clears all that there is room to run to 42.50 in a hurry. A radar stock to watch for sure.
Today the market seemed to be ready to take on more risk and make a move upward that would send shorts into "cover mode" and getting the momo crowd all fired up again. Volume was light but price is price. If we can take out 105 and 106 tomorrow things could get very interesting.
(NTRI) had news in the afterhours that they will be selling it's meal plans in Wal-Marts. Can you say "oh my and by the way...bye bye shorts". Finviz.com has them with a 25% short float, short squeeze has them with a 26.5% short float and 7,509,700 shares held short and the shorts added 1,300,000 shares short in the last 1-3 days. Bad timing for them, good opportunity for traders to ride a squeeze. In the afterhours the price already hit a new 52 week hi touching 19.16 before settling at 18.60. The weekly chart has resistance levels at 19.50 ish, 22.60, 25.00, and 30.50 ish if it clears all that there is room to run to 42.50 in a hurry. A radar stock to watch for sure.
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