Thursday, May 31, 2007
GOOG
GOOG showing weakness last 2/3 of day - cannot bounce much but I think it tries to gap up tomorrow so I may put it on my am short list to short on pop
SRDX
adding SRDX long here on big dip, was way up yest and it retraced 75% of the up move today it should bounce up later, 37.85
CTRP
CTRP coming up long here now 77.10 might be worth a shot - just watching for now because its a china stock, those have been under pressure lately
AKAM
taking a shot and shorting AKAM near 45, its up 2.50 on the day almost - should be close to pullback area
PZZA
PZZA coming up long on radar 31.53 - chart is primed for move if they can punch it thru the 200 day resistance
UTHR
looking to short some UTHR, daily looks short and its not pushing up with market - that may change tho but hod can be stop, about 30c away
TSAI
TSAI coming up long now 33.38 - not alot of volume yet but daily looks like its ready for pop higher - watching
ITG
coming up long also 39.90 with the buyout of AGE it might go some since its in the same space (but is not a broker)
Wednesday, May 30, 2007
UTHR
UTHR coming up short on radar here 65.75 daily looks good for short for 1-2pts might be done for today though unless selling really picks up, its down 1.20 already
DNA
adding DNA here near 78, was strong yest and co has pattern of selling the next day, its down 1 here betting on recovery 30-40c into close
PAYX
closed out PAYX here for 20c profit, got 5c away from my 39.15 goal and is bouncing - market is not really weak take the small profit and move on
PAYX
PAYX coming up on radar here short 39.50 - taking initial position but expecting a bounce attempt since its pretty much gone straight down last 30 min.
ANF
ANF went up thru my stop zone, but waited it out cause only put on small position - dipped back down covered it for 14c loss and move on
Fed minutes
Fed minutes due out later today - if per usual pattern whatever the market did on the fed day (up big this time) will do the opposite when the minutes are released. Expecting selling later today when they are released.
WHR
dropped about 50c from short area, if market sells off easy can see 109-109.50 but market is pretty strong, taking gain here and look to redo again later
ANF
watching ANF for possible short here 81.45 area stop 81.70 or so, has been in downtrend past few days, betting they sell it back to even
crazy buying
seeing crazy buying in bunch of names CAT LVS VRSN which my guess per usual when done that is it for the day
LVS
LVS just went positive after being down 1, might try some in a bit and watching WYNN usually trades with it, still down 1pt adding some here for a shot
JOYG
what a move - took about 30 sec for stop to hit, now its 1+ higher - someone obviously is in a hurry to buy stock
CELG
after selling down 4 days in a row CELG might be a ticket long today with everything else selling often times biotech/drug stocks get a bit stronger. Watching for entry 61.85 area
WHR
Watching WHR for short again, it gapped down and it pushing up - maybe 110.75-111 might be worth a shot short - will have some resistance 110.8-111.4 from yest afternoon trading range.
TSL
TSL gapping down nice this am and into the 45 target range (upper) - would consider taking some profits here on at least half with the 3pt gap down hold some to see if we get more selling later.
Tuesday, May 29, 2007
AM market
It will be interesting to see if they can actually sell the market today. With China selling some, perhaps we may see an actual selling day again - with the last one last Thursday its probably not due for at least 3 weeks if we keep with the same pattern that has been in tact for months and months now.
semiconductor
semi stocks pushing a bit into close, lbo rumors out on KLAC (doubtful imo) - but its pulling up some names
market lows
market sells to lows over last hour on rumors that China will raise the stamp tax on stock trading. Will look for shorts in about 45 min if market cannot recover.
WHR
shorting some WHR here 111.15 area - might bounce up from this dip but daily looks ready for 1-2 pt drop easy
Utilities
Dow Utilities average looks like bounce play - look to IDU, UTH, XLU for etf play on it - I will look later on in day to see if its still holding up
MMC
covered MMC even - had about 10c on dip but its not really selling - cover and move on to other ideas
WLP
I covered too early, basically scratched it for even cause it would not drop only to watch it drop .25 within 5 min of covering - happens all the time :)
YHOO
covering YHOO and EBAY on this downdraft for about 14c each profit, covered MMM for small loss after avg into it on buy program spike
Friday, May 25, 2007
flat
just covered all shorts, seems a complete waste of time today stuff is not trading that good to stick around
GS
Stuff is trading really thin - covered GS for measly 20c gain but its jumping around 15-20 up and down on 100sh prints - not worth the risk today
CELG MNST
CELG might be long here, this is 3rd sell day after gap up, looking to try some for reversal - MNST looks long also on daily
AM ideas
Not many ideas this am - its the friday before 3 day weekend so would be suprised at another big selloff - usually drift is up into these holidays. POT looking to short > 198, BIDU if it sells again, I am looking to buy 126.50-127 it should bounce decent from there.
Thursday, May 24, 2007
JNY
JNY daily looking short - might be good play for tomorrow but would like to see some selling into close to maybe 29.50 area
pm market
so far this afternoon market has been unable to make new lows by very much - dont think it will happen today but would not rule out eod shortsqueeze to move averages decently off the lows of the day.
CMG
CMG running to highs of day - looking at BWLD as possible play to follow it up if the market can regain some strength - trade to 88-88.20 area
FMCN
watching FMCN for long from 41 area, 3rd slam day might be ready for bounce after big earnings pop
exit homies
took RYL KBH for about .20-.25 each and closed out since middle of day sold TOL for about even
market bounce
as expected the market is trying to bounce up - will look to short some stuff at ES 1522-24 level that would be good spot and is just under the last pivot high
possible longs
looking at CROX and BIDU here possible longs - going to wait another 20 min to see if mkt stabilze with ES down 9 - usual dip is 9-11pts then they stop for the day - occasionally it will get some panic and go much more but that is rare
new lows
market making new lows right now, seems as if we are having one of the elusive "sell" days in the market - its been so long I forgot what they look like ...
HNSN
HNSN moving to highs of day as market at lows - looks like sellers that have been there for weeks might be done - looking to add 20.20 area
RIMM
RIMM looks long from here 161 area for bounce, should be ok as long as ES does not collapse further
iran comments
about 10 min ago Iran made comments about Israel if they attack lebanon - hit the markets some, not sure if it will carry through the day
HNSN
watching HNSN long, daily way overdue for 2-3pt pop higher - needs to get thru 20 with some volume. Market spiking to new highs after econ data
MA
MA looking short here near 140, might go in some but econ num due out in 2 min. - stock cannot really push higher with ES futures
AM watch list
BIDU is gapping up about 2pts after the china scare yesterday from greenspan. I might try a short if it gets 133 - 133.50 area. AMGN gapped up and held all day yesterday even into the market sell into the close - might be long. SGMS tried to breakout and faded way back with the market - alot of times these types will go again so that is on my watchlist higher. XRAY daily looks ready for big move up but has met with sellers past few days on moves higher. ICE is probably add long if it dips to 146 area - it ran from about 139-152 in 3 days on a breakout from a nice base area. 146 is about 60% retrace of the rally and will be the 2nd day down - should be ok as long as the market is not in major sell mode. KKD daily looks higher still, and I have BBI on the radar as well to try to begin moving up to 4.65-4.80 target.
Wednesday, May 23, 2007
Trading
This blog is setup to share our trading ideas and commentary as they happen during the day. We have a number of tools we use to find ideas and will share as many of them here as we can.
I (Trader X) have many tools I have developed over the years on Tradestation to scan the market for ideas. The main one I use is called Momentum Combo and finds stocks that are ready to make a significant move. It knows ahead of time what the average move is historically when a signal occurs, the average risk and more and notifies me in real time and then tracks the signal until its gone. It is based on pattern recognition of what all stocks that make big moves have in common as they move up or down. I also use Neovest FirstAlert, Briefing.com, real time trader chats and more. I have a trading partner that I bounce ideas off of to try to hone down the best ones which I will try to share here.
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