Review of current holdings: (thoughts, targets and stops)
BSML short
very poor fundamentals
target 6s
I am throwing in the towel at 15.00
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 on core position $4.00
will add at around 7.00
no stops here
medium term position
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
poor fundamentals (I think this retailer is doomed to fail)
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
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, so far so good.
target 5.00 on any optical bounce
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
HLEX short
looking for a retrace of end of quarter gains
fundamentally seems poor
target high 7s
no stop for now
Will add small at 11.00 to 11.50 range
ILMN short
fundamentals are terrible, dna research company
target very low 10s
will add around 13.00
no stop for now
medium term position
EMEX short
what a joke this company is.
this is a very long term position with target of ZERO
will add 1/4 position every 40% intervals
no stops
WCOM long
basically a hedge against some of my longs
value oriented play
target 17s
for now no stops
PCLN long
the internuts are back, been very strong for a month now.
looking for a move to mid 10s to 11.00 level
nice trading range lately (low 7s to mid 9s)
stop 6.95
Medium term position
STEM short
an old friend, what a pos
looking for mid 4s
next add at near 8.00
AEOS short
very rich valuation for a retailer
target low 37s
add at 42.90
no stop for now
FTHL long
very nice cash position, some decent value here
target 4.50-5.00
medium term position
stop 3.00
NLI short
what a complete pos pig this is.
GTZ written all over it.
Its me or them, one of us will run out of cash soon, hope its them. LOL
long term target to low 1s
PHTN short
very rich valuation
target 27-28
stop undecided
ALTR long
short term target of 29.50 to 30.00
Stop at 26.00
BZH long
very hot sector
fundamentals great - PE is 9
Target 79-80
stop 69.00
ERICY long
I see some value here
Looking for a bounce to 5.00
stop at 4.00
EXPE short
Bloated pos
Looking for a retrace to 44-45
no stop
JDSU long
basically a pos
looking for a bounce to 9.50-9.75
very short term
ONIS long
Fundamentally poor.
big dump after raising estimates during earnings.
Looking for rebound to 21s
stop undecided
WEBX short
fundamentals very poor
target mid 19s
no stop
will add 25.50
GSPT short
looks way overbought
target 11.50
HLIT short
Fundamentally a pos
beat the estimates in earnings report.
target 9s
will add 14.00
no stop
VRTA short
history of warnings, earnings late tonight
will close tomorrow probably.
target 11.00
I am about 53% to 47% right now to the long side and 103% invested of cash (not margin).
Many of my shorts are not market dependant.
Looking for a short term bounce in the market.
Word of caution for all shorts:
It is very possible that we could see a repeat of April's earnings season.
Tons of companies have warned and have low balled their estimates.
Now in their earnings reports, these same companies might be beating the numbers by 1-2 cents and moving higher.
Make sure you are well prepared for such a scenario.
If this does happen, the media will be very fast to jump all over this and call it a summer rally.
I think NAZ is in the early stages of a significant move to retest the lows by October, but please use caution as stated above.
Patience is crucial now, do not force any trades.
Make sure you allocate well on your shorts.
If you are adding to existing short positions, please use larger % intervals (25% or higher)
Show lots of patience on potential new positions.
Nasdaq has had lots of trouble between 2250-2300 level, nice resistance there.
A breakout of this level could take the NAZ to the 2500-2600 level.
Next big level of NAZ support is 1940-1960 (2000 is more of a mental support)
Buy the Champs and Short the Chumps
traderpulse.com;
Michail |
