So...
I'm going through the screen.
I'll be ignoring anything gold or "we are curing cancer", and Breakouts on the obama stimulus
There are so many potential breakouts... this just bodes well for the market.
MHS... Today was lower volume... Though a bit of a break out We will see, but it may be running out of momentum.
CI- broke out on weak earnings today... Umn... I don't know what to think of that.
seems like short covering... but it is in the right sector... but insurance.
CVH- again managed care... Feels like a break out, increased volume, in consolidation it also declined in volume... I give it an 18 target.... again insurance.
MRVL.... well it's on a breakout, and has been for 10% High volume. Umn.. It's already on a break out.. so caution.... Goodness.. it has 30% beta.
TSN looks for a breakout.... I guess if you want chicken.
RIO.. is moving
BSX, which I noted in the $8.40 range, has moved to 9.40 and is ready to break out of that level.
Ready for some knife catches.....
IP.....MABYE... MAYBE...
BBT... is maybe a day or 2 away..
TCO... Maybe tomorrow...
BDK... buy that fucker with a 27.50 stop
BIG... .... MABYE 12 dollar stop... but it would be nice for it to retest 13 then buy it.
BTW... DID I SAY ERTS 2 days ago....
Thursday, February 5, 2009
The screen
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14 comments:
Yes, you called ERTS... and I wrote it off. I did get some BSX after you mentioned it, tho. I like MRVL, too.
Those knife-catches look scary, dude. BDK? Why not just get some SPY Mar 100 calls, because if BDK pulls out of that nosedive, the whole market will be en fuego.
I like your list, BTW. Not sure if CI and CVH should be insurers or health care. Are they leveraged? Short covering or oversold bounce today?
FWIW, the longs I like now are MRVL, BSX, LLTC, OCR, CNP and my flyer is CMN.
Shorts to look at are PM, GPS and FO.
How come staples are doing so lousy... I thought they would be leaders out of this? Have you looked at any utilities? CNP looks like a momo stock.
I'm also thinking of taking Karen Finerman's advice on IBB to play biotech. Still sour on GDX, my man?
Staples have been a safety play, that and WMT, and BIG, ...
It's kind of like the "they shoot the generals last". So in this phase they just need a good consolidation.
Are you holding anything overnight? Not sure if the market will respond better if the stimulus passes or not. A lot of people may be selling on the news... it's that game theory again.
I wish I could see Fast money, and just have "mackie and Pete .. and get 10 seconds of them ranting to show sentiment." Then Karen and Guy can talk about what to trade for the last 59 minutes.... And Dylan can just suck his cock out on the street.
I just hate pharma... Nothing like waking up to an announcement that "Drug XYZ causes cancer." or gets a black box... and you are down 40% before the bell.
I haven't seen anything in utilities that is interesting.
I think CI and CVH are just things that were beaten with the other insurers, and traders realize that they overall are fine, and growing... but They do make me nervous.
Yes, looking at CI and CVH, they have good unlevered cash flow and very little debt and decent cash per share. These look like safe plays... unless we go to nationalized health care (doubtful).
I have some stuff...
I hate to day trade..
I'm a little sds.. BSX, tsm, erts.
Gold Schmold.... It's going up... I don't deny it.
One good reason I won't trade it is because, in my head... I don't know when that game of musical chairs is going to end.... when I can't even hear the music.
I was thinking about RIO and Freeport.. what is that FCX?
sounds like you think I'll hang onto a stock for longer than 4 days...
I don't think they can nationalize Healthcare by then
Guy Adami mentioned Freeport, FCX, today. He mentioned that they also have gold mining operation. He liked it.
I think I've decided to try for more break outs...
It's either that or do more knife catching.
I'm tempted to do this textbook fashion: go long staples and health with 5 or six stocks and then watch T.Lo's stops.
I'm just wary of holding shorts overnight, but I do have PM and GPS now short... and I may add BBBY (I've been in and out of this a few times.)
XLP is rated s beauty contest LOSER; I can't figure out why staples aren't stronger; whether the stimulus passes or not, every trailer park in the country will be stocked with toothpaste and deodorant.
Just watch the sectors working in the screen...
but I'll move from healthcare.. to tech... Healthcare is more momo right now than tech... but tech is coming along.
give staples a chance to bottom...
part of that play is that "this thing is going to go on forever"
here stops are just the most recent consolidation, so for BSX if it breaks out it will be below 8.60 which is the recent consolidation low. but to tighten up stops as it breaks out .50 per day would be smart... then get out and wait for the next consolidation.
also remember those are "Closing Stops"
sensible target on bsx is in the 10.50 range.
Thanks. Yeah, closing stops.
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