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AGY is the only open position out of this list of three, and its not close to either stopping or hitting its target. So Monday we'll get another one of these sets going.
Sam
Wouldn't know out of the seven CUB was the only that hit a stop today, and the only one out of those that I owned. Actually I still like it and well keep an eye on it, but it does have the low float syndrome.
Sam
Market is up but there doesn't seem to be a lot of enthusiasm, everyone taking the day off... I added a little more CUB at 28, but that is all I've done, otherwise I'm holding what I have over the weekend.
Sam
Looks like we are starting up today, if there is buying late in the afternoon today I'd suspect it would be more short covering from folks not wanting to hold over the weekend....just a guess.
Sam
Market still looks weak by the numbers... but there are still some good looking trade potential. I replaced 4 on the watchlist at http://www.savvy-trader.com
Sam
Out of today's full list I'll be taking 3 stocks off cause the have risen too high off support, HNT, HUM and IMDC. And 2 stocks removed cause they hit a stop, GYMB and NDN.
Sam
Plenty to trade today, hope everyone did well.
Sam
Stocks that begin with Health- remain the group to concentrate in. I haven't traded at all myself today.
Sam
On the defensive side, DRS worth looking for a bounce in here close to 39 (I've had a position in this one for the last couple days) and CUB at 28, I also have a position in CUB at 29...
Sam
To update this trading example now that PRHC has hit its target, we would "book" a gain of $1.87 on PRHC and a loss of $1.97 on HAR....AGY is still in play. BTW HAR looks good today.
Sam
PRHC hit its exit target price this morning....
Sam
We're really going to need buying late in the day, as long as sellers dominate the late afternoon by either avoiding the market all together or selling into an earlier day pop the market's direction will be down or no where at best....
Sam
The market has been hard on the longs, but I've had to remove more stocks that have climbed above support than hit a stop. I added GYMB, HNT, ICBC and NDN to the list for tomorrow.
Sam
http://www.savvy-trader.com
Another play on real estate would be to look at something like DDR and NLY, both on our breakout list for today.
Sam
PRHC looks like the only one on today's list to be removed for moving up too much off support. PIR was the only stop on the list. I noticed WLP continued up today. ACDO and HUM may still be viable.
Sam
AGY avoided its stop price (32.92) and PRHC was 50 cents from its exit target at its high today.
I suspect that the SSRatio will go negative, so I'll only be buying small positions of any long trades tomorrow.
Sam
I see NLS stopped out, 37, support failed as well, 35 was the next down and 37 may be resistance now. I'm watching for now. We have a cold fusion site error I've been hung up on all day.
Sam
Ok, a buy on NLS 38.40 with a stop at 37.80 has a very favorable risk reward.
Sam
I'm looking for support in NLS between 38 and 38.50.
Sam
Ummm WCI is a new one to me, I'd have to go with DHI since it is one we have followed for the last few months, and it is close to support, TOL would be good closer to 29.
Sam
I still like DHI, 25 should be support. But...I've got site problems to deal with this morning....
Sam
I don't, but it would be interesting to look at.
Sam
Probably, just at what point do they decide to move the money out of the market and back into housing? Or reverse...I really have no idea, just toying with a theory since it was brought up in that interview.
Sam
I'd felt better if during the interview with Robert Toll he had not been so optimistic about the housing market. You'd have to think that the biggest damage to the housing market would be money flow into an improving stock market.
Sam
Isn't that amazing, we'll see if the home builders can move against the stream today.
Economist have been further off on the housing numbers than any other economic data release we follow.
Sam
PRHC does have a chance to drop to the buy price range again tomorrow, if it does I'd be worried, so it likely out of play for the same reason WLP is. Though we will continue tracking it as one of the short term example plays.
Sam
WLP was removed from the short term list since it has risen to far off from its base, it is nice to be able to remove one for that reason...<g
Sam
With HOV and TOL reporting earnings before the open tomorrow it might be worth keeping an eye on DHI.
Sam
I've added CSTR and IMDC to the list of short term trades for tomorrow. Out of the 11 short term stocks on the main list, 8 are in groups that begin with the word "health"...HMO, Products, Services, Hospitals and Drugs....amazing.
Sam
I might add that HAR is worth keeping on eye for support in the 55 to 56 range, I still think it has potential.
Sam
HAR is the first out of this group to hit a stop, fell 4 cents below...$1.97 loss out of the three, AGY and PRHC are still in play.
Sam
We lucked out today having gains in DRS and NEM exceeding the loss in CUB and STZ....
No reason to expect tomorrow to be much better at this point.
Sam
Morning EZ,
I wasn't familiar with SPTN at all. ....amazing, a stock in a strong sector, growing revenue faster than the PE? Sitting at support here, if there is nothing bad in the news I can't see anything wrong with it, and should be a great defensive play.
Sam
Morning Bernard,
I probably average 1 or 2 trades a day, but even that is misleading since I can go days without making a trade then make 4, then don't trade again for a few days. We have just too much going on to pay attention to scalps at this point.
Have a good day.
Sam
The current group stength data from IBD can be viewed at:http://www.savvy-trader.com/groupstrengthMar22.htm
Sam
Hi Bernard,
Yes to all, <g> I'd also add a volume criteria, and I'd think you'd like to keep it over 500K for scalpers...and since the low floaters tend move on such little volume, i.e. by the time your exit price is hit it has fallen through, so those having a float of 15 or greater, but 25 or more is better.
You might keep track of what you're best success is with, you might narrow down the number of stocks you follow by finding you do best with the NDX components and ignoring the news or DOW stocks and just target those....
We follow breakouts or I should say potential breakouts and those do well when they have broken their previous days high and come into play. As far as myself, I focus on the short term with an occasional breakout...over the years I think I'd do better just sticking with the short term <g>. Tomorrow we'll be watching ALOY, AVNT, BLC, DST, EXPD, PETM, PHM, PL, SCFS, TOM, USPI and XRAY and set an alert for them to break Friday's high by 20 cents to alert a possible buy. So you can watch and see how these shake out.
But, there is a guy on the site who runs a screening that looks for stocks that normally trade 5% a day, with a criteria that the previous day it traded in a real tight range of like 80 cents, or maybe 2%, then goes long or short when it either breaks its previous days high (long) or low (short). They also have a beta of 1.25% or greater.
One thing for sure, know your limits...if you are scalping you have to make sure your gains are larger than your losses, and if you are like most, and watch a stock drop over a quarter then put off the exit thinking it will come back than you will find you have reversed the rule necessary for successful scalping. If you can set a stop within seconds of your buy you might be ok. Also, there are times that you won't find yourself able to get out when you expected, the stock falls too fast for instance.
I have to admit I never did well trying to scalp, but it could be that I have too many irons in the fire and couldn't pay attention to trading like would be necessary. I don't even try anymore, if I don't think the trade is better than 50 cents I don't bother with it....and most often I expect 2 points to be my target.
Sorry this is so long...I hope at least part makes sense...I've done a lot of stock screening and if you'd like more details let me know.
Sam
I'd just stay with what we had on the list on Friday, we had only one additional stock on the screening, PDX.
Sam
I had trouble getting on IHub there for a bit, seems to be working ok now. Hope everyone has a nice holiday tomorrow, I'll be updating the site then.
Sam
Amazingly enough <g, all three of Monday's short term example picks have hit a buy and none have stopped out. (for the details see the post that this is a reply to)....now see if they can all hit their target exit.
Sam