Daily Stock Report 11-19-09 pt2
Daily Stock Report for Thursday Morning, November 19, 2009 pt2
Focus chart: NLST, NetList rebounded from the opening today but this is very typical for a bullshort that had as high of trading volume of 25.7 million shares two days ago. Today’s high is well below yesterday and Monday’s high and this is very likely to move lower over the coming 7-10 days. Target price to cover this short position has been revised to $2.50 from the earlier target of $3 - $3.50. If you are short this stock, hold it short until this breaks down substantially lower which should start correcting in the next few days. The bullshort trading model requires high risk tolerance yet if you understand how to trade these stock ideas, it is very profitable. Please study this in The Wizard Training Course first before attempting this technique and use a very small short position
Swing Trade Ideas: CMG, Chipotle Mexican Grill. We just finished a nice long run from under $81 and now are looking for this to drop $3-4 for a small short position.
Intermediate Trade Ideas: SUN, Sunoco is still going down and should be watched for a strong bounce upward. It is safest to wait until stock shows signs of moving up before buying long but this should bounce starting next few days. CBD, Companhia Brasilera is a Brazilian grocery store chain. Their economy is one of the strongest at the moment along with China. This long position was stopped out a few days ago but consider small long position again (if not long or hold if long).STT, State Street. Watching for a long entry to establish small long position. Best to wait for it to move up, should start moving up this week. Started moving up on Tuesday, consider opening small long position gradually.
Aggressive Investors-Traders NABI, Nabi Biopharmaceuticals. This is another developing bullshort that needs to go a lot higher before shorting. This needs to get into the high $5’s to $6 before opening any short. Reminder that it is much smarter to wait until these show signs of correcting (going down) before shorting and only open very small short positions. This is for experienced traders-investors who have high risk tolerance.
Joey’s CornerScalps: AMZN, BIDU, BX*, DHI (Short - After the reaction to Housing Starts Data), FUQI (Drop and Pop), HIG (Long near the open), INTU (Drop and very strong Pop), MA (Both Long and Short / Best in Show), PAYX (Drop and Pop), PCL (Drop and Pop), STI* (Long and Strong), UFS (Drop and Pop), USB (Drop and Pop), WFC* , ZION (Drop and Pop).*Advanced Traders In order to best maximize Joey’s Corner, please take a moment to review each of these scalp trades on your own charts. You will become a much better trader by constantly reviewing these set-ups. Day Traders/Intraday stock ideas: Continue to watch these highly active stocks for intraday scalps: ZOOM, AGO, NLST,NABI, POT, THOR, MEE, HGSI, AIG, ROCK, DRV, ENER, TNA, JPM, RIG, CRK, XTO, APC, PCS, PRU, BIDU, EBIX, WCRX, ATPG, HIG, MTL, R, UTA, GMCR, POT, CME, ICE, AKS, TOL, A, HOT, MA, , CME, ELON, AM, FSLR, SQNM, RDN, TNDM, MED, TRIT, AMZN, JDAS, VVUS, AIG, PCX, MTL, CMED, RYL, BKD, GILD, FXI, AIG, MSO, BBBY, GOOG, INTC, SBUX, AMGN, HD, KO, MRK, OXY, BLK, ICE, WFC, FNM, CETV, AGO, MAC, FUQI, TNDM, MED, X, HOT, EJ, MON, CMG, COG, BLK, BIDU, CIEN, BAC, WFC, STP, FSLR, AAPL, BIDU, MSFT, QCOM, GOOG, DELL, PAYX, SBUX, IPI, MEE, FXI, GS, USB and TSL (short and long) for potential scalps. Independent Oil stocks worth monitoring: XTO, COG, EOG, GMXR, ATPG, APA, APC, CHK, CRK, NXY, FST, GDP, SWN Remember the technical indicator MACD should be weighted more than the stochastics in evaluating your technical indicators. Look for stocks to open down and possibly dropping a little more after the open to give the ideal drop and pop pattern in which to consider buying long on the first bottom.
Mitch King www.TradeStocksAmerica.com Contents: online stock trading, trading strategies, stock picks, stock market education, stock market investing course, educational stock trading videos, stock trading newsletter, stock market newsletter,
Mitch King is the founder of TradeStocksAmerica.com. All material presented herein is believed to be reliable but we cannot attest to its accuracy. All material represents the opinions of Mitch King. Investment recommendations may change without notice and readers are urged to check with their investment counselors before making any investment decisions. Opinions expressed in these reports may change without prior notice. Mitch King and/or the staff at TradeStocksAmerica.com may or may not have investments in any stocks cited above before or after this newsletter is prepared. Use the stock table above as a model portfolio of ideas that look attractive at the time of the writing. Comments can be hypothetical in nature. Opinions expressed in these reports may change without prior notice. Disclaimer - Stock investing or stock trading has large potential rewards, but also large potential risk. There is risk of loss as well as the opportunity for gain when buying or selling stocks, bonds, option contracts or engaging in any strategy listed in the Daily Stock Report, The Wizard Training Course, The Trading Room and our seminar or workshops. You must be aware of the risks and be willing to accept the risks when investing or trading in any financial markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell stocks. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
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