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Seagate, ConAgra Guides Higher, Carnival Below Estimates
2009-09-23 03:19:00
Seagate Technology Guides Higher Seagate Technology (STX) said it now expects fiscal first quarter revenue to be at or slightly above the high-end of its previous guidance range of $2.40 to $2.60 billion. The current consensus estimate is revenue of $2.52 billion for the quarter ending October 3, 2009.ConAgra Foods Raises GuidanceConAgra Foods Inc. (CAG) said it now expects fiscal 2010 earnings to approacth $1.70 per share. The company's previous guidance was earnings of $1.63 to $1.66 per share and the current consensus earnings estimate is $1.66 per share for the year ending May 31, 2010.FactSet Research Systems Guides Above EstimatesFactSet Research Systems Inc. (FDS) said it expects first quarter earnings of $0.73 to $0.75 per share on revenue of $152.0 million to $157.0 million. The current consensus earnings estimate is $0.72 per share on revenue of $152.2 million for the quarter ending November 30, 2009.Brocade Narrows GuidanceBrocade Communications Systems (BRCD) said during...
More About: Carnival , Seagate , Earnings

Lincoln Educational, Molex, Ocular Science Raises Guidance
2009-09-22 02:51:00
Ocular Science s Raises and Narrows GuidanceOcular Sciences, Inc (OCLR) said it now expects first quarter revenue of $82.0 million to $87.0 million. The company's previous guidance was revenue of $76.0 million to $84.0 million and the current consensus estimate is revenue of $80.0 million for the quarter ending September 26, 2009.Lincoln Educational Services to Exceed EstimatesLincoln Educational Services Corporation (LINC) said it expects to exceed its previous guidance for third quarter earnings of $0.34 to $0.36 per share on revenue of $134.0 million to $138.0 million. The current consensus earnings estimate is $0.36 per share on revenue of $138.4 million for the quarter ending September 30, 2009.Molex Raises GuidanceMolex Inc. (MOLX) said it expects first quarter earnings of $0.12 to $0.16 per share on revenue of $650.0 million to $665.0 million. The company's previous guidance was earnings of $0.04 to $0.10 per shar eon revenue of $590.0 million to $630.0 million and the curre...
More About: Earnings

Stocks I Wish I Had Shorted
2009-09-17 22:36:00
RAME crashed 9% today. Volume faded nicely. Was a good short.NCOC spiked from 75cents to 1.50$ in matter of few days. 100% up move. After topping out at 1.50$, it started selling off. First red day (when stock price when below yesterdays close), it made a good short. The stock followed up this selling with 2 more days of selling. Missed this one completely.LXRX is a biotech stock up on drug news. However got overextended from 1.60$ to $3.50. Another 100%+ move. Unsustainable. Profit taking and short sellers brought it back to reality. Had perfect afternoon fade the very first day of the spike. This led to more panic selling. If support of @2 is breached, this one goes down further.FNET was up on no real news. Up from 1.20$ to 3.60$. 300% move. Unsustainable. Faded in the afternoon the same day it spiked. Similar to LXRX, more selling pressure in the next 2 days. Down 9% today. Missed opportunity. However shares were hard to borrow...AXAS was up on no news other than as an oil play....
More About: Stocks , Charts , Short Selling

Missed Opportunities To Short
2009-09-16 21:39:00
GVBP was classic pump and dump. However no shares were available today to short. Really frustrating and sad to see a classic pump and dump in action and nothing to do about it.EDAP broke past @4.50 support. Was fading all day. Easy short. Missed it completely due to focusing on other trades. Set alerts in the trading tool next time to avoid such misses.DIET another pump and dump. Went straight down into the open. (from @2.6 to @2.2). Did not want to short after it was already down soo much. Just ended up watching. Sucks !!
More About: Stock Picks , Opportunities , Short Selling , Short

Fakeouts Stopped Me Out On All Trades
2009-09-16 21:22:00
Buying on round number breaks didnt work out today.Bought CHINA @3.00 hoping the break would last. It never did. Stopped out @2.83Lesson 1: Wait for volume to build up before going long. Fakeout did it for me.Lesson 2: Stuck to my stop loss. Not disappointed about the trade. Plain bad luck. Stop loss was below yesterdays low.Bought JAZZ @10.01 on break of $10, hoping for follow through movement. Couldnt keep above 10, after few tries. Fakeout. Stopped out @9.77.Lesson 1: Good trade idea of waiting for break of 10. Unfortunately didnt hold. No disappointment. Stayed disciplined and got out.Bought OPXA @4.20 and @4.07 = @4.14 average on alert services. Huge sell orders at @4.25 didnt let the stock go higher. Put stop loss at @3.94 (below low of the day). However wouldnt budge of the $4 mark and stayed weak all afternoon. Sold at loss @4.03Lesson 1: Dont follow alert services blindly. Get out sooner if it doesnt act the way it is supposed to, to cut losses even faster. Small losses ok...
More About: Stock Picks

Mercer International Pops 50%, but Repros Therapeutics down 14%
2009-08-25 03:00:00
Mercer International (MERC) 52% HIGHER; since announcing it's Q2 results on July 29, share of Mercer have skyrocketed more than 340%.ARIAD Pharmaceuticals Inc. (ARIA) 5% HIGHER; rose after the close on Friday. This morning's report was that ARIAD and its co-plaintiffs announced that the Court of Appeals granted their petition for rehearing 'En Banc' in the Lilly NF-kB patent lawsuit. Shares were up about 2% at $2.17 as many traders sold the news.Electro-Optical Sciences, Inc. (MELA) 19% HIGHER; was a big winner after being featured in this weekend's "unusual suspects" after Barron's highlighted its skin cancer testing. Shares were up 20% at $9.53 ahead of the close and shares hit a new 52-week high above $10.00 earlier in the trading day.Capstone Turbine Corp (CPST) 8% HIGHER; on receiving order worth more than $2 millionRepros Therapeutics (RPRX) 14.0% LOWER; correcting today following a 50% jump on Friday. Shares have fallen below the $1 level today.Titan International (TWI...
More About: Stock Picks

After Hour Movers - 18th Aug
2009-08-19 02:44:00
Spreadtrum Communications, Inc. (Nasdaq: SPRD) 22.2% HIGHER; reports a Q2 loss of $0.15 compared to $0.11 profit for the same period last year. Revenue in the second quarter totaled US$16.2 million, representing an increase of 97% from US$8.2 million in 1Q09 and down 60% from US$40.2 million in 2Q08.Vantage Drilling Company (NYSE: VTG) 20.4% LOWER; announced that it intends to offer, subject to market and other conditions, 46,500,000 of its ordinary shares. In connection with this offering, Vantage will grant the underwriters an option to purchase 6,975,000 additional ordinary shares to cover any over-allotments. Vantage intends to use proceeds from this offering, as well as the proceeds from the financing for its Aquamarine Driller, to finance the final construction payment for the Aquamarine Driller, and to use the remainder for general corporate purposes and working capital.Candela Corp. (Nasdaq: CLZR) 15% HIGHER; reports Q4 EPS of $0.02, compared to ($0.10) in the same quarter l...
More About: Stock Picks , Earnings , Hour

GreenHunter, China GrenTech Pops As Cardica, LJ International Get Buried
2009-08-14 22:53:00
GreenHunter Energy (Amex: GRH) 70% HIGHER; For the second quarter of 2009, the Company reported net income to common shareholders, including one-time events, of $4.45 million ($0.13 per fully diluted common share) on total revenues of $1.7 million, compared to a net loss of $7.3 million ($0.37 loss per fully diluted common share) on total revenues of $468 thousand in the second quarter of 2008.China GrenTech (Nasdaq: GRRF) 47% HIGHER; reports Q2 EPS of $0.08, 6 cents better than the analyst estimate of $0.02. Revenue for the quarter was $62 million, versus the consensus of $46.93 million.Rentech (AMEX: RTK) 22% HIGHER; upside momentum resumes today. Since receiving approval to modify specs for commercial jet fuel to a 50/50 blend on August 6, shares have surged more than 200%. The stock is trading on extremely heavy volume.Newcastle Investment (NYSE: NCT) 20% HIGHER; continuing higher today following yesterday's break above the $1.00 level. Before...
More About: International , Stock Picks , Earnings

Intel, Motorola, Capital One Popped While Yum & Fifth Street Dived
2009-07-16 09:48:00
Alcatel-Lucent shares rose 14%. Merrill Lynch raised its rating on the telecom-equipment maker to buy from neutral, saying the stock is oversold after falling 20% from its recent peak. The broker told clients that its upgrade isn't a call on the quarter, although it does expect a sequential improvement in operating margins through the rest of the year.AllianceBernstein Holding L.P. shares gained 7.9% after being upgraded to buy from hold at Standard & Poor's. "We think results will benefit from a lower headcount and cost controls following cuts in the past year, boosting margins," added analyst Matthew Albrecht in a note to investors. S&P raised its 2009 earnings estimate to $1.34 from 73 cents a share, and increased its price target to $25 from $19.Altera Corp. shares rose 4.6% after the firm reported a second-quarter profit of $47.4 million, or 16 cents a share, down from $98 million, or 32 cents a share, in the year-earlier period. Quarterly revenue was $279.2 million a...
More About: Motorola , Intel , Stock Picks , Street , Capital One

Inflation At The Consumer Level Rose By 0.7 Percent
2009-07-16 09:42:00
The market moved broadly higher at the open this morning as positive earnings reports outweighed lack lackluster economic data.The Commerce Department said inflation at the consumer level rose by 0.7 percent last month, slightly higher than the 0.6 percent increase that economists were expecting. It was the biggest one-month gain since a 0.7 percent increase last July. The big jump was seen as a temporary blip, however.Inflation is not expected to be a problem any time soon given a severe recession which is keeping a lid on wage pressures.The Federal Reserve reported production at the nation's factories, mines and utilities fell 0.4 percent last month as the recession crimped demand for a wide range of manufactured goods, including cars, machinery and household appliances. The decline, however, was not as bad as May.Industrial activity posted a revised 1.2 percent drop then, which turned out to be slightly worse than first reported.Oil prices rose to near $61 a barrel as investors ...
More About: Consumer , Rose

Tyco Electronics Guide Higher, United Technologies Reaffirms
2009-06-16 02:42:00
Positive GuidanceTyco Electronics Ups GuidanceTyco Electronics Ltd. (TEL) said it now expects third quarter earnings of $0.10 to $0.17 per share, excluding items, on revenue of $2.45 billion to $2.55 billion. The company's previous guidance was earnings of $0.01 to $0.06 per share on revenue of $2.35 billion to $2.45 billion and the current consensus earnings estimate is $0.03 per share on revenue of $2.42 billion for the quarter ending June 26, 2009.O2Micro Guide s Above EstimatesO2Micro International Ltd. (OIIM) said it expects second quarter revenue of approximately $34.0 million. The current consensus estimate is revenue of $26.4 million for the quarter ending June 30, 2009.Inline GuidanceMajesco Entertainment Raises Revenue Guidance to be Inline with EstimatesMajesco Entertainment Company (COOL) said it continues to expect 2009 earnings of $0.10 to $0.14 per share but now expects revenue of $80.0 million to $85.0 million. The company's previous guidance was revenue of $75.0 mi...
More About: United , Technologies , Earnings

Jazz Pharma, Maguire Properties Soar, Hartford Plummet
2009-06-15 23:21:00
Jazz Pharma ceuticals Inc.'s ($4.23, +$1.59, +60.23%) sodium oxybate showed meaningful improvement in treating the pain and the main symptoms associated with fibromyalgia in Phase III studies. The company had already announced positive results from the trials late last year, saying preliminary results achieved their endpoints. Maguire Properties Inc. ($1.57, +$0.50, +46.73%), a struggling Los Angeles real-estate investment trust, sold a newly developed office building in Irvine, Calif., for about $160 million, a price representing an estimated 40% discount to its construction cost. Six Flags Inc. (SIXF, $0.15, -$0.11, -42.05%), one of the world's largest amusement-park chains, will be mostly owned by its lenders if a bankruptcy judge approves a deal negotiated between the company and its debt holders. The theme-park company filed for Chapter 11 bankruptcy protection early Saturday amid a mountain of debt topping $2 billion and a looming $300 million payment due to preferred sto...
More About: Jazz , Stock Picks

Pops And Drops - Savient, Hoku Lead The Way
2009-06-13 22:09:00
Shares of Savient Pharmaceuticals ($9.28, +$3.35, +56.49%) jumped as the Food and Drug Administration released its briefing documents ahead of a panel meeting Tuesday to discuss approval of gout treatment Krystexxa. Analysts said the FDA comments appeared to be positive. Hoku's ($3.15, -$1.23, -28.08%) fiscal first-quarter loss narrowed despite sharply lower revenue, but the alternative-energy company warned it is having trouble raising capital to continue as a going concern over the next 12 months. William Blair raised its investment rating on Sonic ($3.57, +$0.41, +12.97%) to outperform from market perform, saying the company is well poised to capitalize on the nation's switch to digital television, which is supposed to be completed Friday. Sonic's digital move distribution system, CinemaNow, is an attractive option and the fact that overall digital viewership is increasing should benefit Sonic. KeyBanc raised its rating on TriMas Corp. (TRS, $4.27, +$0.36, +9.21%), a man...
More About: Stock Picks , Lead

Lots Of Pops To Buy/Short Into...
2009-06-03 10:19:00
Synthesis Energy Systems, Inc. builds, owns and operates coal gasification plants that utilize its U-GAS fluidized bed gasification technology to convert low rank coal and coal wastes into higher value energy products, such as transportation fuels and ammonia. SYMX is up 102% to 1.42$ on heavy volume on no news. $1.67 is 200dma and key resistance. Above this potential buy. Watch for 1.50$ break. Potential buy/short.Antigenics Inc. (AGEN), is a biotechnology company focused on developing and commercializing technologies to treat cancers and infectious diseases, primarily based on immunological approaches. AGEN is up 70% to $1.53 on heavy volume. This biotech stock is up on positive drug news. No resistance till $2.00. Potential buy.TOP SHIPS INC. is a provider of international seaborne transportation services, carrying petroleum products, crude oil for the oil industry and drybulk commodities for the steel, electric utility, construction and agri-food industries. TOPS is up 53% to $...
More About: Stock Picks , Short

Pepsi, United Natural Food Guides Higher, Valero Sees Q2 Loss
2009-06-03 02:31:00
Positive GuidanceBob Evans Farms Sees Revenue Above EstimatesBob Evans Farms Inc. (BOBE) said it expects fiscal 2010 revenue of approximately $1.78 billion to $1.79 billion. The current consensus estimate is revenue of $1.77 billion for the year ending April 30, 2010.Tessera Technologies Ups GuidanceTessera Technologies Inc. (TSRA) said it now expects second quarter revenue of $59.0 million to $61.0 million. The company's previous guidance was revenue of $46.0 million to $49.0 million and the current consensus estimate is revenue of $47.8 million for the quarter ending June 30, 2009.United Natural Food s Raises Earnings GuidanceUnited Natural Foods Inc. (UNFI) said it now expects fiscal 2009 earnings of $1.34 to $1.38 per share and continues to expect revenue of $3.45 billion to $3.50 billion. The company's previous guidance was earnings of $1.28 to $1.36 per share and the current consensus earnings estimate is $1.31 per share on revenue of $3.49 billion for the year ending July 31...
More About: Guides , Pepsi

J Crew, OmniVision Guides Higher, But Procter & Gamble Guides Below Estimat
2009-05-30 00:00:00
Positive GuidanceOmniVision Technologies Guides Above EstimatesOmniVision Technologies Inc. (OVTI) said it expects a first quarter non-GAAP loss of $0.16 to $0.07 per share on revenue of $90.0 million to $100.0 million. The current consensus estimate is a loss of $0.23 per share on revenue of $73.4 million for the quarter ending July 31, 2009.J. Crew Guides Above EstimatesJ. Crew Group Inc. (JCG) said it expects second quarter earnings of $0.08 to $0.12 per share. The current consensus estimate is for a loss of $0.02 per share for the quarter ending July 31, 2009.Inline GuidanceMarvell Technology Guides Revenue Above EstimatesMarvell Technology Group Ltd. (MRVL) said during its conference call it expects second quarter earnings of $0.07 to $0.13 per share revenue of $540.0 million to $580.0 million. The current consensus estimate earnings of $0.07 per share on is revenue of $522.3 million for the quarter ending July 31, 2009.Jackson Hewitt Tax Service Lowers GuidanceJackson Hewitt T...
More About: Earnings , Gamble , Higher , Procter

Consumer Burrowing Plunged At Fastest Pace In 18 Years
2009-05-07 23:12:00
Consumer borrowing plunged in March at the fastest pace in 18 years as Americans put away their credit cards and hoarded cash amid the worst recession in decades.The Federal Reserve said Thursday that consumer borrowing dropped 5.2 percent in March, the biggest decline since an 8.1 percent fall in December 1990.In dollar terms, consumer borrowing plunged by $11.1 billion. That's the largest dollar amount on records dating to 1943, and more than three times the $3.5 billion drop that economists expected.The borrowing category that includes credit cards dropped 6.8 percent in March after a 12.1 percent plunge in February. The category that includes auto loans fell 4.2 percent after rising by 1.2 percent in February.Is that good news or bad news for the economy ? Short term NO, but long term YES.Goods news in long term, since savings rate goes up and Americans build true wealth rather than living on credit day in and day out.Bad news in short term, since company profits go down, which...
More About: Economy , Consumer , Years , Pace

Trade Lessons To Find Breakdowns & Breakouts
2009-04-28 19:00:00
BreitBurn Energy Partners L.P. (BBEP) is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties in the United States. The Company?s assets consist primarily of producing and non-producing crude oil and natural gas reserves located in the Antrim Shale in Michigan, the Los Angeles Basin in California, the Wind River and Big Horn Basins in central Wyoming, the Sunniland Trend in Florida, the New Albany Shale in Indiana and Kentucky, and the Permian Basin in West Texas.I went long BBEP @6.02 once the $6.00 resistance was broken. Missed the top price, but made good 4.50% return.Trade Lesson: Buy breakouts.Walter Industries, Inc. (WLT) through its operating segments offers a line of products and services, including coal and natural gas, metallurgical coke, mortgage financing and home construction.I went long WLT @23.02 once the $23.00 resistance was broken. Missed the top price, but made good 3.95% return.Trade Lesson: B...
More About: Find , Charts , Technical Analysis , Lessons

Earnings Review: Seagate Tech, Talbots, SPX....
2009-04-14 09:53:00
Positive GuidanceFederal Signal (FSS) said it now expects first quarter earnings of $0.01 to $0.03 per share. The company previously said it expected a loss for the quarter and the current consensus estimate is a loss of $0.07 per share for the quarter ending March 31, 2009.Dress Barn Guides Above EstimatesDress Barn Inc. (DBRN) said it expects third quarter earnings of $0.30 to $0.32 per share. The current consensus earnings estimate is $0.20 per share for the quarter ending April 30, 2009.Seagate Tech nology Ups Revenue GuidanceSeagate Technology (STX) said it now expects fiscal third quarter revenue of $2.10 billion. The company's previous guidance was revenue of $1.60 billion to $2.00 billion and the consensus revenue estimate is $1.85 billion for the quarter ended April 3, 2009. The company also said it expects fiscal fourth quarter revenue of $1.90 billion to $2.20 billion. The current consensus estimate is revenue of $1.84 billion for the quarter ending June 30, 2009.Kona Gri...
More About: Review , Earnings

Bank Earnings Will Decide The Trend To Follow
2009-04-14 02:28:00
What?s Happening In The Market Now..The market opened lower this morning ahead of key earnings expected later in the week.Also weighing on stocks is a potential bankruptcy filing from General Motors (GM). The U.S. Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by June 1, even though the automaker has publicly stated it could reorganize outside of court, The New York Times reported on Sunday, citing an unnamed source.Investors will get a number of earnings results throughout the week, including reports from key financial firms. Financial companies had been among the hardest hit by the economic downturn and credit crisis, but they have also helped lead a rally over the past five weeks. Goldman Sachs earns $1.66B in 1st-quarter, surpassing Wall Street's estimates. Oil company shares could come under pressure, after Chevron (CVX) said it expects its first quarter 2009 earnings to be sharply lower than in the fourth quarter of 2008. Oil pri...
More About: Earnings , Bank , Trend

How To Profit From Support Breakdowns And Resistance Breakthroughs
2009-03-26 05:17:00
Whole Foods Market, Inc. (WFMI) owns and operates a chain of natural and organic foods supermarket. As of September 30, 2008, the Company operated 275 stores organized into 11 geographic operating regions, 264 stores in 38 United States of America states and the District of Columbia; six stores in Canada, and five stores in the United KingdomThere were 4 trading alerts today for WFMI. These were based on breakdown of supports and breakout of resistances. As mentioned in the chart, once key support levels are broken down, the stock keeps moving lower. The rationale behind this is pretty simple. Most traders place their stop loss below key support levels. If these support levels are broken, the stop losses get triggered putting more pressure on the stock. WFMI saw a continous sell-off after the morning spike. After every key support was broken, sellers poured in, taking the stock lower and lower. (Breaking down from $18.20 to $16.80 levels)Eventually in the last half hour, bulls took ...
More About: Profit , Support , Charts , Technical Analysis , Resistance

Fed Will Pump 1 Trillion Into The Economy: Bye Bye Dollar
2009-03-20 04:19:00
What?s Happening In The Market Now..Stocks moved higher at the open this morning after a report showed new unemployment claims dropped last week, then slid back in morning trading.The Federal Reserve, yesterday, said it would pump more than $1 trillion into the economy. The plans include the purchase of long-term Treasury bonds.The Labor Department said the number of initial requests for unemployment insurance dropped to a seasonally adjusted 646,000 from the previous week's revised figure of 658,000, better than economists' expectations.The House voted today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.The dollar continued its weakening trend, as the euro spiked to a 10-week high and the U.S. currency sank to a three-week low against the yen.The dollar skid pushed the price of oil up sharply with oil heading over $50 a barrel, reaching the ...
More About: Economy , Dollar

Stock Picks With Dow Closing At 6.5K
2009-03-10 10:35:00
RGR started rallying in late Feb and has not looked back except for one negative day. Is this strong trend coming to an end ? Buying volume is seeing a dip and that could be early signs of reversal. Keep watching for potential short entry.LFT took off after positive earnings. LFT has struggled to break and stay above $18.00 for the second time. This could provide some scalping on the short side. Once LFT breaks down, it has no strong support till $16.35. This should provide some decent short gains.REST OF MY STOCK PICKS ARE LISTED...HERE
More About: Stock Picks , Stock , Charts , Technical Analysis

Intraday Resistance & Support Provide Trading Opportunities
2009-03-10 01:24:00
Smith & Wesson Holding Corporation (SWHC) is a manufacturer and exporter of firearms. The Company manufactures an array of pistols, revolvers, tactical rifles, hunting rifles, black powder firearms, handcuffs, and firearm-related products and accessories for sale to a variety of customers, including gun enthusiasts, collectors, hunters, sportsmen, competitive shooters, protection focused individuals, law enforcement agencies and officers, and military agencies in the United States and worldwide.SWHC was a perfect example of how support and resistance work. SWHC is one stock that have spiked all the way from $2.00 in Feb 09 to $4.00 in March 09, giving investors 100% returns. For a swing trade SWHC is definitely in an overbought category and can see some reversal soon. However for a day trade, SWHC provides an excellent opportunity to go long in the morning and go short in the afternoon.No matter what experts say, any important round number always provides resistance and support....
More About: Trading , Support , Charts , Technical Analysis , Opportunities

Job Losses Hit 25 Year High
2009-03-07 00:33:00
The U.S. unemployment rate rose to a 25-year high of 8.1 percent in February as employers, buckling under the strain of a severe recession, axed 651,000 jobs, government data showed on Friday. Adding to the gloom, a combined 161,000 more jobs were lost in January and December than previously believed, the U.S. Labor Department said in its monthly nonfarm payrolls report. Since the recession started in December 2007, the economy has shed 4.4 million jobs, with more than half of that number lost in the last four months alone. A total of 12.5 million people were unemployed in February, the Labor Department said.Consumer borrowing rose unexpectedly in January after three months of declines, but the small increase did not shake economists' views that borrowing will remain weak this year as mass layoffs persist amid the recession. The Federal Reserve said Friday that borrowing increased at an annual rate of $1.76 billion in the first month of the year. Economists expected borrowing to de...
More About: Apple , Gold , Employment , High , Losses

Why Stop Loss Should Be Part Of Your Trade
2008-05-29 02:34:00
I played MR again, trying to short it below $40, since it was a pivot resistance point. Confident from my previous short attempt i was hoping for a repeat. I shorted 600 MR @ $39.99. This was exactly the same trade i played earlier. However the only difference this time was I decided to short more of MR if it went up, due to the fact that it wont hold 40+ for long. (since it couldn't hold it in the morning too). My next short entry was 600 MR @ $40.29 (making my average 1200 MR @ $40.14). This plan turned out to be a horrible trade because that meant I didn't setup a stop loss. With no stop loss in play i was left vulnerable to any spike up. This is exactly what happened. In the last hour of trading MR took a bounce from $40.10 to $40.82 leaving me angry at myself for not putting a stop loss and cutting short my loss.At this point I had to 2 options, to hold my short overnight and hope for a drop or to cut my losses and run. Overnight positions are very tricky and can sometime lea...
More About: Stock Picks , Trade , Traders , Stop , Loss

Some Trades Work Just Awesome
2008-05-29 02:20:00
Pacific Sunwear of California, Inc. (PSUN) played out exactly the way I had planned it. It feels awesome when it does.I sold PSUN at $9.51 with a profit of 6.5% (my entry point was $8.93) in 2 trading days.Woohoo....
More About: Stock Picks , Awesome , Work , Traders

When Is It Not A Good Time To Short
2008-05-29 01:48:00
Chico's FAS Inc. (CHS), a specialty retailer of casual to dressy clothing and accessories, reported lower first quarter profit due to a decline in sales. The company continues to expect negative comparable store sales and lower earnings for the first half of 2008. Net income posted by the company plunged to $12.7 million, or $0.07 per share, for the first quarter from $47.2 million, or $0.27 per share, a year ago but beat analysts' estimate of $0.06 per share. Net sales for the quarter declined 9.6% to $409.6 million from $453.1 million reported for the same period last year, reflecting a 17.5% decline in comparable store sales. Fifteen analysts estimated revenues of $416.58 million. For the first half of 2008, the company continues to expect negative comparable store sales and expects to have lower earnings than the first half of 2007.The fact that the company beat estimates made the stock spike more than 12%. However i believe this is a bogus rally. That said, shorting on the fi...
More About: Stock Picks , Time , Traders , Good , Short

WatchList For 28th May 2008
2008-05-28 08:51:00
Watchlist for Long EntryWatchlist for Short Entry
More About: Stock Picks , Traders , 2008

Why Am I Playing Lousy Retailer
2008-05-28 03:10:00
Pacific Sunwear of California, Inc. (PSUN) is a specialty retailer focused on action-sport inspired casual apparel, accessories and footwear designed to meet the needs of active teens and young adults.I am playing PSUN, purely on technicals. PSUN formed a bottom during the month of Jan 08 at $8.87. After a lousy earnings PSUN hit $8.82 again on 23rd May 08. This could be a pivot support point and possibility of a double bottom. I might be completely wrong and the trade might turn out a horrible one. But in terms of risk/reward it looks lucrative even though the fundamentals are against it. Fundamentally PSUN posted a wider first-quarter loss of $37.1 million, or 53 cents per share on lower sales and a charge related to the closure of a facility. However the loss was in line with analysts' predictions. Technically PSUN is oversold and the following indicators show that.Current RSI = 24.46Current MFI = 14.58Current Slow Stochastics = 4.59Entry Price = $8.93Exit Price = $9.43 (Meanin...
More About: Retail , Support , Traders , Technical Analysis , Retailer