 | Stock Watchlist: The Sunday Updateby boca on June 1st, 2008 at 11:37 am |
This is my Sunday stock watchlist for the upcoming trading week.
Potential buys:
(CE: 8.90 -19.68%) Celanese Corp., a chemical products company
(VLO: 14.86 -9.67%) Valero Oil Refiner. I had a nice trade in VLO at the end of last week and will be looking for a chance to do it again.
Watching Price Action for Potential Trades:
(SQM: 18.62 -5.10%) Sociedad Quimica y Minerales de Chile: I was stopped out in this stock near the end of last week. Long term I like this stock, short term it seems a little overextended.
(SNHY: 11.86 -5.27%) Sun Hydraulics
Potential Pair Trade in Oil and Gas sector:
Thinking about a paired trade of long (SFY: 19.43 -8.69%) (Swift Energy Co., oil and gas exploration) and short (KWK: 5.10 -24.78%) (Quicksilver Resources). Comments would be greatly appreciated.
Have a great Sunday.
Edited to add the brackets for the stock quotes.
What makes you to go long on SFY and short KWK. I see that you are doing exactly the opposite. Do you have any specific reason or analysis for taking those positions? KWK should rise next week and SFY should start moving up from mid of next week - this is from my trading knowledge and i am going to go long on KWK.
June 1st, 2008 at 6:01 pmBob, thanks for the comments.
I often think about a trade, but might not actually execute it after thinking it over. The only reasons I have to short (or own puts) on KWK right now are: 1) to hedge the proposed long position in SFY, 2) recent unexplained poor price performance relative to peers, and 3) gossip (which may or may not be true) that KWK’s expenses are higher than anticipated.
I have not traded either SFY or KWK before and don’t know their trading patterns yet, so I appreciate your comments from your own experience.
My posts are merely to suggest possible trades that should be evaluated by the individual to trade or fade.
June 1st, 2008 at 6:20 pmBoca, both CE and VLO have great charts. CE looks like it wants to continue running and VLO seems to have put in a bottom. I might have to buy both tomorrow!
June 1st, 2008 at 10:01 pmThanks Shed, those are the two I feel most positive about also.
The charts are getting a little easier, thanks to everything I’ve learned here.
One day if you have time, I’d appreciate it if you could write something on pivot points and calculations related to them. Keep it in mind, anyway.
June 1st, 2008 at 10:16 pmNo problem. Thats a good idea.
June 1st, 2008 at 10:44 pm