Wizzard's Quick Picks

[Wizard]

GGP (1.90) excellent 2 day rally here !!

[Wizard]

GM (1.90) ugly ! Not much support for auto makers, looks like bankruptcy is the solution.

[Wizard]

New to the watch list are FLO and CWT
I put them in the IBox

details to follow

[Wizard]

I am out of MGM at 10.62 for a small 3% profit

[Wizard]

Still holding GGP and GM, bought some MGM this morning.

Purchase prices:
GGP 0.50 on 11/14
GM 3.16 on 11/12
MGM 10.27 on 11/17

Current PPS:
GGP 0.49
GM 3.29
MGM 10.53

[Wizard]

I am in GGP at .50 here

[Wizard]

GM holding steady at 3.00 today

There is debate over what type of bailout the automakers will get - the Pelosi plan which is just cash for operational needs, or the Obama plan which invests in new technologies. I expect a compromise submitted to Bush by Congress soon, and I expect he will veto it.

[Wizard]

CBG closed up 43% today, nice rally and reversal.

[Wizard]

Reversal alert and could be breakout candidate

IT (16.75) up 15% on nice volume.

[Wizard]

Almost stopped out at 2.90 - still in and it's attempting to rally.

[Wizard]

Pre-market big board movers:
LVS up 6%
HTE up 12%
SOL up 10%
CBG up 11%
GM up 4%

Nasdaq movers:
CHTR up 6%
VNBC up 33%
ETFC up 6%

That's 2 days in a row that GM went up sharply overnight in Europe. It seems there is buying interest there. Maybe a European or Asian suitor ? Pure speculation on my part. But it would make sense for a smart company like Toyota to look at the depressed PPS and think they can take an interest in GM and then try to influence their line of products. There is still a large group of people in the US that will not buy foreign cars.

[Wizard]

Don't get me wrong, I play pennies too, but I post them over on the Lizzy and Wizzy board:

http://investorshub.advfn.com/boards/board.aspx?board_id=11312

[stocksurgeon]

Oh ok bud, ill keep it above penny plays on the board..

[Wizard]

Hey doc, will do. On this board, I am trying to avoid thinly traded issues - I like maximum short term flexibility. I have a few small holdings (pennies) that I have had up for sale for days now and they have not traded yet ! Small money, not important, but frustrating.

[stocksurgeon]

Hey Evil wizzard, radar TSHO and HHEL the rest of the week bud!!

[Wizard]

Back in GM at 3.16

[stocksurgeon]

Thanks bud!

[Wizard]

nice doc !

[stocksurgeon]

Picked up some IFRX this morning!! +66%

[stocksurgeon]

I like the idea of the board bud!!!

[Tina]

Nice profit oh evil one!

congrats

[Wizard]

GM I am out at 3.32 this morning. Was in at 2.93 at 3:45 yesterday. A quick 13% profit. Nice.

[Wizard]

thanks ! Somehow, I knew you would be the first, LOL !

[Tina]

thanks for the add EW!

marked the board gorgeous!

[Wizard]

Welcome all !
Stocks I'm trading:
GM - bought at 2.93 expecting a bounce. severely oversold - but also risky. Obama talked to Bush about including auto makers in the bailout plan, and he was receptive. Bush asked Congress to propose something. I expect tax breaks and tax incentives for investment in new equipment and technologies. I don't think the government will let GM fail. As for short term technicals, this looks like an exhaustion sell off - high volume over the past 3 days purged the market of sellers.

Stocks I'm watching:
All gold stocks. RGLD in particular
TMA - could be a short term (2-3 day) runner
CPRK - showing surprising strength
PWER - looking severely oversold and at a bottom - I want to see an uptick on volume first
NHRX - at resistance and I'm watching for a breakout
WNBD - showing signs of life