Review of current holdings: (thoughts, targets and stops)
BSML short
very poor fundamentals
target 6s
no stop
will add 11s (missed a fill at 11.99 on friday, too bad)
longer term position
BVEW long
long term play 6-9 months
starting to get really tired of watching this one trade.
If it breaks 2, I will call it a day.
CWON - short
longer term short, might be a zero, will take mid 3s.
will add 8.50-9.00
no stop
DLIA short
another pos
Target is $4.00
will add at 9.00
no stops here
medium term position
I added in AH on friday at 7.41, will cover these around 6.50 - 6.75
IDN short
what a pos this is!!!!!!!!!!!
target mid 6s
Next add at 13.00
long term if needed here
no stops
This is one tough stock to break, I hate trading AMEX stocks.
But just like every other pos, eventually the axe will fall.
RSTO short
gigantic run from 1.50 to 7.00 over 5 weeks.
time for a major retrace
target 4.00
no stop
will add near 8.00
ALOY short
poor fundamentals and ugly business plan (dependancy on teenagers is very unpredictable, but expectation levels are very high)
Longer term position
Target 8-9
no stop loss here, but will watch carefully (could be trying to breakout)
WEBX short
another fundamentally poor story
longer term position
target 14-15
to stops for now
30 is next major resistance level.
Would love to add trading shares at 29.50
CORV long
medium term position
I feel there is some value here, but a terrible sector.
no stop here.
will do something a bit different here:
will add 1/4 position every 1/2 point down and sell 1/4 position every 1/2 point up
want to try something a tad different here and see how it works out.
target 5.00 on any optical bounce
CKCM long
fundamentally questionable
stop at 8.05
target 10s (1-2 weeks)
HOMS short
fundamentals are ha ha ha ha ha ha ha
they are king of pro-forma
nice trading range 27s to 35s
will add 36
no stop
target 29
medium term
LWIN short
terrible fundamentals, could very easily be a GTZ
long term play
target below 5.00
no stops here
will add at 35.00
DTHK short
significant pos that got pumped AH on friday
target low 6s
no stops
long term if need be.
FBCE short
got a major pump AH friday
terrible sector of fiber optics.
fundamentally expensive, but not a true pos
Target 5.50 to 5.75
mental stop 7.50 (too many shares for a real stop)
IINT short
got a major pump AH on friday
fundamentally poor
target 6.75
no stop for now
MONE short
major pump AH on friday
valuation very rich, but not a pos stock.
I have a triple position here.
Target - looking to cover 1.50 positions around 21 from 22.75 and hold rest until low 17s
no stops for now, will watch very closely
VWPT - short
major pump on friday.
fundamentally looks ugly
target very low 7s
no stop
I am about 91% to 9% right now to the short side and 97% invested of cash (not margin).
Many of my shorts are not market dependant.
Unusually high dependantcy on the shorts.
Fridays activity offered some great new opportunities, I will close out several short positions next 2 days and concentrate on adding some longs.
Patience is crucial, I never like forcing trades.
Make sure you allocate well on your shorts.
If you are adding to existing short positions, please use larger % intervals (25% or so)
Show lots of patience on potential new positions.
Nasdaq has had lots of trouble between 2250-2300 level, nice resistance there.
A breakout of these level could take the NAZ to the 2500-2600 level.
It is starting to feel a lot like Feb and Mar again.
Giant warnings from all directions.
Only difference, market is holding up despite all the warnings, even going higher.
Watch for July 17 as possibly a big reversal day.
Summer rally ran out of steam around this date 3 straight years.
Buy the Champs and Short the Chumps
traderpulse.com;
Michail |
