Good afternoon, my cable system is down, including the TV.. Covered my shorts, and I did get cold feet and covered PHCM at 159 3/4 when I saw it move up from 154, but it was still the easiest short. stocks I am watching are HIFN, OMC (hot sector)but I'm not taking anything home. Still holding QCOM puts.
I did an analysis last night using LSQ (least square deviation) which reveals the position of the prices stock to a 1 year LSQ line. A positive number shows if the stock is above or below the LSQ line. In the results EMLX, OCLI (among others) scored "overbought" and SNDK, GMST, AOL scored oversold but with high earnings performance. I didn't chart ARTG though. I will post those as well before the day is over. To find the best trading opportunities for both the short term and long term, you would look for high earnings performers estimated to earn 50% or more in the next 1-3 years and have already had at 4 consistent quarters of increased EPS growth, but are still not broken out of the top of the LSQ channel.
Good buys today were LAMR (broke out cup & handle) GMST, SNDK, ARTG, AOL. Overbought stocks OCLI, EMLX, were hit. This is a great market to have rebounded so quickly (at least our trading stocks). I am waiting for an opportunity to reshort PHCM, CMRC, AGIL, The beaten down ones are up today and MOST of the hi flyers are down. I would consider PHCM for a daytrade if you got in low but I'm waiting to short it again. My only regret is covering AGIL in the morning and its down about 2 1/2 points from my cover. I still think PHCM did us a favor by providing us with a yet another shorting opportunity.
And off topic.. I just finished the revised manual and will download it to the site within 30 minutes. There are some new addidtions that should help the newbies especially in these markets. Don't print it yet because I will do a final edit during the weekend, but you can read it and print parts (76 pages)... |
