Review of current holdings:
BSML short
very poor fundamentals
target 6s
no stop
will add 9.50
longer term position
BVEW long
long term play 6-9 months
starting to get really tired of watching this one trade.
CWON - short
longer term short, might be a zero.
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
finally some nice weakness today
GADZ long
forward pe under 8
holding medium term.
target 17s
IDN short
what a pos this is!!!!!!!!!!!
target mid 6s
Next add at 13.00
longer 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.
MRVC - long
value play based on LMNE spinoff this summer
short term target 11
no stop loss yet, but starting to get happy feet.
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
being a bid stubborn here
SONE short
what a pos this is.
2 month ago I covered this at 5 from the 9s
First time back since then
no stop for now
add 15.50 to 16.00
target 11s short term, but I might make it a long term position.
just not sure yet, play it by ear.
should of covered yesterday in the 11s, greed got the best of me.
ALOY short
poor fundamentals and and ugly business plan (dependancy on teenagers is very unpredictable, but expectation levels are very high)
Longer term position
Target 8-9
will add around 15
no stop loss here
WEBX short
another fundamentally poor story
longer term position
target 14-15
will add at 22.75
to stops for now
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.
FCEL long
very short term trade 1-2 days
hoping for a small reversal of extreme oversold conditions and a 2 for 1 stock split effective tonight might add some fuel.
Target 53-55 pre-split
stop at 45 pre-split
I am very balance right now, just barely to the short side.
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 and NAZ is on the ski slopes.
Unlike 2 weeks ago, all news is now bad news.
Also, very much like Feb and Mar, it seems like all rallies should be shorted.
I expect a lot more weakness later in the week.
NAZ 2000 is looks done, next support around 1940.
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 |
