Intraday’s STALK LIST email bulletin for Thu May 31
Below is a list of stocks we’ll be watching in the session today Thu, May 31 along with key price levels that will lead us to consider entering a trade. We will be generating this list several times a week, sometimes more frequently and sending them out as market conditions warrant.
Please note that just because a stock trades to the alert price specified, it doesn’t mean we’ll necessarily enter… we’ll also be looking at the broader market action, related sector action, intraday price & volume charts for that issue, 3-minute futures charts, market internals/volume, relevant breaking news, etc. So please feel free to ask educational questions of Deron, Ed, and myself in the room as you study these potential setups.
Based upon customer feedback, this information is already proving useful enough that we will be enhancing the email bulletin over the coming week. Once we have the email reflectors setup properly, this daily bulletin will just go out to Intraday customers, except for an occasional broader mailing or posting on our SI thread.
Market Recap and Sector Notes
What can we say about Tuesday’s session for the techs? Except ugly, ugly AGAIN.
See today’s Trading Summary and Sector Notes on our Silicon Investor thread:
Message 15874319
Message 15874511
Potential Shorts
BKX (bank sector). Will look at selling naked calls with a tight stop above consolidation of 930. Ideally want to see a bounce to short into.
BAC Will consider shorting at any price greater than 58.29, so that we don't end up selling short into a gapdown.
JNJ < 97.10 Failed rally today brought it right back down to the bottom of support with not much left to catch it.
PDLI < 71.50 with weak Biotechs.
$DRG.X < 399.50 we may want to short the drugs, especially if tech kicks into gear
WMS < 28.50
BBY < 54
AHP < 62.20
A < 32.70
BGEN < 59.50; or go LONG > 60.50 (depending upon market/sector too)
Potential Longs:
BEAS > 35 with a rebound in Software stocks, Internets, B-B’s
MOT We will consider going long as long as the stock doesn't gap above 14.90. Good risk/reward on this one.
CIEN Will consider going long as long as it does not gap above $53.
MCDT > 30.50 with a rebound in the networkers
AFCI >19.0 nice pullback (with rebounding $NWX/$SOX)
ALTR > 24.25 w/rebounding $SOX
BRCD > 38 if $NWX rebounds
IRF > 59 with rebounding $SOX
QQQ > 45 if the market kicks back into gear Thursday
RIMM > 32.50 with strength coming back into Hardware, PALM, HAND
$RUT.X > 495 watch the small-caps
VTSS > 25.25 rebounding $SOX
GENE > 14.0 scalp long, careful (extended)
HGSI > 66 if $BTK rebounds/strong
IDTI > 37.0 with rebounding $SOX
RFMD > 25.30 with rebounding $SOX
BMET > 46
AMKR >19.20
AGIL > 18.50
ASML > 23.80
IPIC > 6.90
GENE > 14
SLXP >20.40
SERO > 23
“Most Extended” Nasdaq Stock Awards
The following stocks appear to have decoupled from gravitational forces in their runs to the upside… getting WAY out in front of their 20-period Moving Averages. Here are a few of the worst offenders to the upside amongst the most volatile, high-volume Nasdaq issues, along with the % they are trading above their rising 20-period simple MA’s (we’ll do NYSE issues tomorrow):
TIVO (71%), GENE (47%), IMNR (38%, CELG (34%), GYMB (27%), NETA (19%), GNSS (17%), PDLI (15%)
On the short side, the following high-volume, high-volatility stocks are extended to the downside making them prime candidates for bounce-back rallies (watch for the right price action and other criteria we’ll discuss in the room):
TQNT (26%), RBAK (23%), CTLM (23%), GSPN (22%), CMRC (20%), NUFO (19%), SAWS (18%), AETH (17%), JNPR (17%), RMBS (17%), CORV (17%), AMCC (16%), EFII (15%)
Basing Stocks
The following stocks appear to be building BASES after selling off... we'll track them for signs that they are starting to recover... some of these may make for very nice multi-day, or even multi-week LONGS at some point:
AKAM, ARTG, AVCI, AVNX, EPNY, GSPN, HAND, INKT, INTC, JDSU, JNPR, LVLT, MACR, MCHP, NEWP, NTAP, NTIQ, NUAN, NUFO, NXTL, ORCL, PWAV, PWER, QLTI, RBAK, RMBS, SAPE, SCMR, SEPR, SSTI, STOR TIBX, TXCC, VRSN, YHOO
Volatility Honor Roll
Here is a list of the MOST VOLATILE stocks on the Nasdaq, sorted in list of decreasing volatility. The most volatile stock in the Nasdaq (based on a 5-day average of the daily range) is NVDA (an incredible 6.8 point daily range). The least volatile stock in this list (SANM) trades with a 2.4 point daily range.
NVDA, FCEL, CCMP, PDLI, VRTS, QLGC, ABGX, GILD, WEBM, MERQ, BLDP, BRCD, DIGL, VRSN, CHKP, ENZN, EMLX, GHSI, SEBL, ISSX, GENZ, PLUG, NETE, IDPH, TMPW, CMVT, KLAC, MUSE, QCOM, BRCM, OPWV< EBAY, SMTC, RIMM, PMCS, PWER, ISIL, CPST, IDTI, RFMD, MEDI, LLTC, VRTX, SYMC, VSEA, XLNX, MCDT, ERTS, MXIM, CIEN, IMCL, AFFX, ONIS, GMST, JNPR, SCIO, TWTC, MANU, NVLS, MLNM, NEWP, QSFT, EXTR, AMGN, SNPS, VSTR, VTSS, CREE, AMAT, CHIR, SANM in that order.
=== |
