Late Day Tradesby Danny on February 13th, 2008 at 12:33:59 pm |
Piecemeal additions to my holdings:
Added to (SKF: 158.00 -12.94%) at 110
Added to (BG: 39.20 -8.56%) at 109.15 (short) - Missed earnings, margin problem, weak. Stop 120
Initiated (FCX: 36.35 -4.12%) at 94.35 (short) - Weak. Stop +97
Bought (SPWR: 0.00 N/A) at 78.16 - Sector momentum shifting positive after big sell-off. Stop 76
Bought (ISRG: 175.01 +1.25%) at 306.10 - Broke out of triangle. Stop 290
Boone, sell SPWR at 85.00
My bet, it never surpasses the 200 day.
I like your BG short. Actually, I just piggybacked you- I like it as a hedge to my large gold position.
I also like URBN here for a long.
February 13th, 2008 at 12:39:03 pmall eyes on PBR!
RC says screaming buy if it breaks 118
February 13th, 2008 at 12:42:14 pmAnon - RC sez, eh? I think the price is dictating the breakout more than RC’s call, though, I am with him on a breakout on volume above 118 being real buyable. Semantics.
SPWR is basically an overnight/few day hold. If you look at what happened the last time FSLR gapped up on earnings, the next day wasn’t pretty. I am not using that as my guide this time wholly, because the stocks have been so beaten up and MACD has signaled a change in a shift.
RC knows the sector better than me and I don’t doubt that if the solars keep running, the stock could reach $100.
I was planning on selling at 86-90 because that would provide a great risk/reward, since my stop is only 2 pts away from my buy. The sector/market is the tell.
My other positions have much wider stops
February 13th, 2008 at 12:47:19 pmActually Boone, meant FCX short. I did not short BG.
February 13th, 2008 at 1:02:50 pmI knew you’d like that HH. I added more at the close, even though near my original price.
February 13th, 2008 at 1:13:32 pmPBR is a no-brainer if it does indeed break.
February 13th, 2008 at 1:36:49 pmThe two previous highs were 119.16 and 119.13, so I’m watching 120, but same idea.
Like Danny said, you’ve got to have good volume to go with the breakout.