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Doesn't sound like the weather is going to cooperate though, we'll see.
Wow sounds fun, a bit out of my league, I wouldn't know the first thing. We'll probably get a pontoon boat and slowly cruise up the Platte river where comes into the lake, the canyon walls are stunningly beautiful, full of bird life and its fun to do with company...about the only time we do it anymore.
Sam
Have a good weekend MechanicalMethod, I'll be here....except we are talking about going out on the lake Sunday, that should enough break <g>.
Sam
What a week, I need a break...<g>
Gold stocks not going like I would have expected, shorts did. Go easy on everything.
Sam
Shorts, NPSP at 21.20 and VRTX at 19.30 keep about a 30 cent stop on each.
In light of a weak dollar, and stocks, with the release of the job report, GFI, a gold stock, might be good for a trade today.
Global Imaging Systems (GISX) is an interesting chart at the edge of a breakout. The two strikes against it is the low volume and relatively low float. I'll set an alert at about $21.40 and see what it does today.
Sam
There were zero stocks that made the short term screening and zero that made the potential breakout screening. There are two shorts that screened out, NPSP and VRTX.
Sam
http://www.savvy-trader.com
The National Semi warning should be no surprise, but the worrisome news after the close is the Wet Seal warning. The consumer buying homes and goods has held us up this long so any change raises a yellow flag.
I might add the new construction figures released today shows residential construction down for a third consecutive month....not good.
Sam
Thought I'd wrap the trades I mentioned today:
CSTR was a buy at $29.40, it went all the way up a dollar, back down to just below $29.40 (I saw it at 29.36)without stopping, then back up closing at $30.20.
INVN closed up 49 cents, it alerted this morning and I bought a little at $27.31, it closed at $27.30.
MYL alerted early today, I mentioned a buy between $31.50 and $32, stop at $31.48, it hit the stop in the drop at the close.
WLP held it support at $69 and closed at $70.70.
CRL maybe had too tight of stop, it would have hit for a 33 cent loss, I still think there will be a play here over the next couple days.
I've been waiting for this market selling, it may take more than a day before we start getting short term stock selections again.
Sam
Here is the range of a reasonable play with MYL now. Buy 31.50 to 32.00 stop 31.48. It is trading 31.90 now.
Sam
This will be the last long on the day <g...CRL now at 37 a good buy here with a stop at 36.68
One last long for today, WLP long from 69 to 69.20, stop at 68.88
Remember to buy small positions, we are still in "lite" mode as the market risk is relatively high.
Sam
CSTR now getting support, a buy around 29.40, stop would be just under 29.
Sam
CCMP looks like it a buy here at 41 with a stop at 40.78.
Sam
SIE still going up following its breakout of 22 yesterday.
CSTR alerted at the open this morning, needs to settle back. MYL may go today. INVN too.
Sam
Again there was no stocks to consider short term, I figure they are still over bought. There are two to watch for breakout, ASO and ECL, in addition to APOL and MYL from today.
Sam
If you remember a week ago we had SIE as a breakout stock, it was the second time it has come up in the last month or so. I commented last week that I was interested in it since it had done so well the first time we had it. Well last week it never alerted so I never got the position I had planned. So today, one of the guys in the room mentioned it again, so I reloaded the alert at 22.01. As it approached, I commented that I was thinking about buying it before it alerted, it was trading at 21.95 X 22. Two guys bought it at 22 before I did, it alerted and I mentioned that it had broken, but buy the time my order got there it was gone and it never looked back.....so it goes.
Sam
CRL closed at high of day. It was one of the easier trades to make today.
From our commentary last night: Charles River (CRL) beat earnings expectations by 4 cents and beat the revenue estimate, revenue rose 17%. They also raised guidance. CRL is worth watching tomorrow.
Sam
APOL doesn't look like it will alert a breakout today, I think it is worth keeping on your watch screen tomorrow.
Sam
MYL just alerted the breakout, other breakouts today TELK and SIE. CCR brought up in the room too.
Sam
Techs are really lagging, much better off looking in the biotech group if you're looking for a high beta.
Sam
7 puppies....back in JILL 22.06...We've been watching TELK and CRL. CRL alerted 36.90 this morning. TELK look at that 3 year chart. None of the potential breakouts have alerted.
Sam
Puppies on their way, looks like tonight!! So I may be distracted tomorrow <g>.
Sam
The stocks I'll be watching for potential breakouts tomorrow include; APOL, CSTR, MBG, MYL, SCIO and VTR. The site is updated at http://www.savvy-trader.com
Sam
There wasn't any short term stocks on the screening this evening again, more potential breakouts however. All will be posted soon.
Sam
I just ran the numbers, and the SSRatio did drop again, but I was also a little surprised at how many stocks moved down on above average volume, just slightly beat out by up trending stocks moving up on above average volume.
Sam
Today was a pretty good test of the market, I'd still like to see some down days.
Sam
KLAC did well: 16:17 ET KLA-Tencor makes $0.23; consensus $0.20 (KLAC) : Revs $373 mln (consensus $366.25 mln).
Out JILL +3.10
SCIO alerted just minute ago, should be interesting.
Biotechs showing more group strength....could have a strong second half of the year.
Sam
The one breakout I was watching today, SCIO, has a long way to go to alert, looks like there won't be a trade in that today. Otherwise, I'm still holding JILL and HLWY from last week.
Sam
The one breakout I was watching today, SCIO, has a long way to go to alert, looks like there won't be a trade in that today. Otherwise, I'm still holding JILL and HLWY from last week.
Sam
The group strength table is updated at: http://www.savvy-trader.com/sectorrotation.htm
Sam
http://www.savvy-trader.com
Not one new short term stock came up on our screening, I presume it was that all stocks were too over bought to meet the criteria. However, the SSRatio improved significantly and could go positive in the next few days. SCIO was the only potential breakout that screened out.
Sam
http://www.savvy-trader.com
Our full watchlist had 10 stocks today, all were up and 6 had over one point gain. The lowest gain was FOSL of 65 cents the largest was RYL with $3.95. By comparison, on the NYSE 81% of the stocks were positive, on the NASDAQ 74.4% were positive.
Sam
http://www.savvy-trader.com
Needless to say, the entire list is up today, see how this last hour does.
Sam