Idan Koren
5:12pm
HPQ acquired PALM for 1.2 billion dollars a few minutes ago. We bought PALM at 3.80, but got stopped out at 5.50+. PALM is now trading $5.8. Incredible!
4:43pm
FSLR up 6% afterhours. Bought this stock at $124 on a breakout of triangle formation 2 weeks ago.
2:39pm
I’m a buyer of GOOG, it’s still in a trading channel but most importantly it found support in the mid 520s and now is forming a bottoming candle on the daily, make sure you stops are tight:
2:04pm
The dollar ETF is breaking out to new highs negating the potential head and shoulders that could have been. That’s incredible! Here’s a daily:
12:37pm
Is southwest airlines (LUV) out of love? Take a look at LUV 60 minute candles as it breaks the ascending channel over the last few days, showing that a reversal of pattern is taking place.
12:00pm
I got stopped out of WYNN right at the open at $90.40, which is frustrating, but if you’re not in WYNN yet you should consider the short because we do have a nice H&S formation forming right here with a descending neckline:
11:45am
GS retested again it’s broken down ascending support line (now as resistance) for the second consecutive day, but is failing to really break above it. If GS breaks down the $155 intraday level of support, I think it’ll be worth a short and could provide a continuation of the downside.
11:43am
AAPL 10 minute is now showing signs of a head and shoulders formation. The neckline sites around the 256.10 level:
Daniel Shporin
9:21AM
I still like Nat gas long here. I’m also thinking oil may be a long today, but I’m thinking it might be a good idea to wait for the EIA report as oil has been correcting in recent weeks.
I have no swing trades on. I booked profits on euro yesterday at around 5pm. I may go long soybeans if we can break this week’s high, but its around 23pts away, so I don’t think that’s a likely option.
Idan Koren’s Hedge Fund is still holding BID short (up 11.42%) and CRMT long (actually went up 0.2% yesterday, total 10% up) as a hedge.
By subscribing to Alerts & Analytics you will be notified when we make our trades via email and forum, so give it a try and sign up for $49.99 a month.
- Consensus from five major brokers is that the stock should be trading between $30 to $32, noting the tight range of these estimates
- The company has a great year-over-year (YOY) qtrly earnings growth of 72.7%
- The company has a good year-over-year (YOY) qtrly revenue growth of 14.1%
- MCAD is beginning to ascend and cross the 0 line.
- Long-term uptrend is intact
- ADX index is hovering in the neutral 20 region indicating a weak downtrend
- Recent decline on highest volume YTD indicating a possible short-term bottom.
- RSI reached the very oversold region of 30
We have stops on both positions well into the positive territory and are making at least around $3,000 in both.
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EIA Petroleum Status Report – 10:30 AM ET
FOMC Meeting Announcement – 2:15 PM ET
Futures are up maybe yesterday was a more fundamental move versus a technical one..
If this indeed the start of correction, I would closely look at the area around the 50 SMA as a potential strong support. 5% down move from the high of 1219.8 would be 1158.81. 50 SMA right now is 1159.33 although that will continue to rise unless we have a quick downfall to that area by tomorrow.
Personally, I’d like for the SPX to rise from here (but not above recent high) then go down from there putting in a lower low and a lower high on the daily. I’d feel more comfortable shorting at a bigger %age of my portfolio if that occurs. (which really isn’t that big compared to the BBs here). Right now, I’m just short using VIX options and the GLD.
i just got long some AAPL in premarket at $263.5.
Got my fingers crossed
i knew i should have thrown in a limit order at 260.5 instead i got anxious
Another of my gold picks, why short the markets when we know its rigged? Pick a gold and watch
it climb!!!!
DGC.TO Detour Gold. Too lazy to find american symbol.
AGI.TO Alimos Gold.
My garbage bank list will have a bit of recovery today, expect a bounce into noon by 15%.
Careful here guys, it will rally like its 1999 into about noon and then start the continuation of
its sell pattern. This will scare weak shorts and kill strong longs.
ADDED JUNE GLD 120 CALLS @ 1.16 255 CONTRACTS.
FBC-getting hit hard and so is my portfolio! Stop set @.64. GL to myself
I thought you got stopped out yesterday.. Good luck..
I’m watchin
SNSS over 1.18
NXG over 3.17
ABK over 1.83 (extreme spec)
PCBC now on open since it’s doing it above yesterday’s high (extreme spec as well)
I totally forgot that they were reporting earnings today and decided to hold. Looks like sell on the news. I already made money on this so if I get stopped out @.64, I’ll take a small loss. Should know when to take the win and move on to something else.
looking to buy some ERX this morning
wish I would have bought more than 100 shares of GS @ 154.00 yesterday
300 ERX @ 44.95
sorry, 200 shares, not 300
will likely buy more around the 44.65 area if it gets there
FDX- I was talking to post grad student friend of mine who is doing part time work for the US Census. He gets paid 16/hr basically doing brainless admin stuff. However, what he told me had me thinking about FDX. He said that everyday since last week and until about the end of May, they are sending about 100-150Fedex shipments via Priority overnight to locations across the US. And that’s for one office which doesn’t cover but about 1.3 million people. He mentioned that this is probably the case for for all county offices across the US. It sucks that taxpayer money has to pay for this and why they just don’t use the same service provided by the postal service for much less. So don’t help out the bleeding for cash USPS but instead feed FDX. Which leads me to looking to go long FDX. I figured that part of this would be reflected when they report earnings in June. Just something for me to think about.
interesting, Thanks for posting, FDX is one of my core positions. Fantastic company
Long 100 at 75
in SNSS @ 1.18
sold 1/3 @ 1.23
Sold another 1/3 @ 1.20 stop on rest @ 1.17 will add if breaks high
out
200 more ERX @ 44.75
sold 100 GS @ 156.00 (up 1.3% from my entry at 154.00 yesterday); $200.00 gain
nice, if it hits 150 i am buying
Greek regulators ban short selling….signs of things to come across the EU zone?
http://www.businessweek.com/news/2010-04-28/greek-stocks-rebound-as-regulator-bans-stock-short-selling.html
1000 UCO @ 12.90
stepping out for a few hours
went short Gold Futures GC June at 1168,5 ….stop is 1174,5 !!
exit position at 1168,8, small loss
ITYS
gold was a buying opp this am. Get in, we are going much higher.
GLD looks like trading range 115 to 98 for the next 6 month….
can not see any pattern at the moment for a sharp move up to 125 or more what most people out there are calling for.
in SIMG @ 3.78
Beat earnings yesterday,, just broke resistance on the daily… let’s see..
My stop is now @ 3.77 It has already gone up so much today,, and the break out has not been confirmed..
Sold half @ 3.89
a quarter @ 3.90
Stop on rest @ break even or will let run
in NXG @ 3.17
S&P downgraded spain
Why the sudden drop?? Was something announced at 11:30?
European contagion, next to portugal and spain you will see a raft of downgrades to the
baltic states and the weak european countries. This is major, can’t ignore.
Buy gold. We are on verge of a breakdown as i suggested this am. Missed the turn by
20 minutes.
GLD trying knocking on 115
in FAZ @ 12.35 let’s see what happens
Stop @12.28.. Baught it only for insurance purposes There were buyers underneath this market..
“Just came back to tell you,
all my words are golden,
so have no zee’s before me,
i’m alive!!!!!!!!!!!!!!!!!”
Alice Kooper
Buying some June 25 C on UUP for .13 just to hedge against more bad news from the EU zone.
Good move. News from EU will be bad, you could clean up here.
Intraday VIX 13 EMA > 34 EMA, should today and tomorrow closes confirms this… more correction probably coming…
CHU- holding strong here. Bought some June 12.5 C here @.60
B*stards…..was up nicely on my UNG with 2k shares and UCO with 1K shares until the Spain downgrade. I think all of the ratings agencies should be disbanded and the principles hung from the highest tree. Where were they two years ago!
I’m taking off for lunch & the rest of the day.. I have my stops on both my longs and shorts in place..
GL everybody
Stocks I’m considering going long:
ALNY-Been relatively stable the past 2 days. Novartis bought 55K shares last week. Could be a takeover target. Stoch and RSI turning up.
OCBI-Momentum play. Up big again today on above average volume.
Shorted 200 FAS at 102 -had a hard time getting them but finally did.
Bought 200 GLD 114.74 and 1500 VGZ at 2.31…
my 15K shares in C at 4.87 is getting a beating
If you’re in C for the long haul and willing to average down, might not be a bad idea to sell some May P on down days (either beginning or end of the day when IV tends to be higher). I have 7K of C @ 3.84, sold some June 4 C for an avg. of .68 (when it was trading right below 5). Will most likely get called away on those position and if not, my breakeven is still in the 3.16. Sold about 2K of the May 4 P for .09 yday as I think if there is more to fall for C, it would be at the 50 SMA. Selling those puts would also mean that C would have to dip below its 200 SMA in 3 weeks. With gov’t still holding a chunk of shares, I don’t think they’ll allow this to dip that low that fast.
C is longterm for me…I have been trading C recently due to large swings. I had 15K at 4.50 and sold them at 4.98 and got back in a little too early
. I will look into selling calls against it. I agree uncle sam has a big say in which way it goes.
Idan,
LUV- I agree with the sentiment but wouldn’t a less risky play be if it trades below its 50 SMA?
It’s already confirmed a double top formation, but yes you are right. I would wait for a short after that level.
People who are holding FSLR should be very careful as FSLR is goingn to report earning anf if you look at past it dropped huge at earning. So there no guarantee thia time also thisdoes not happen. It id very difficult to understand what big boys is doing now on FSLR but i would rather to wait and see earning and then trade it.
I also still holding GLD. Dollar is very styrong today but GLD does not fall, so that is signal thta big boys are there, of course i have stop loss in play.
SWBB and GOEWB
definitely true.. i lightened up at 133+ a few days ago.
I see you enjoyed me telling you to buy gold, its about time you started to listen.
Are you enjoying that smell? Sniff it again . . . . its the smell of me being right and saying
ITYS.
I lightened up at $131.50.. and now kicking my own balls. 7.5% up after hours!
500 EPV @ 22.90 since I need somthing to hedge my long positions
a more obvious entry time would have been this morning
bought TNA at $65.6 as BUY signal trigger.
What a great country or what. FED leaves interest rate at 0-.25%.
Like nobody thought they were not going to do anything but keep it where it is? Come on. Once market get’s comfortable again even though there are serious debt issues overseas then onward up the market goes until they finally realize that Greek issue not going away in near future than back down it will go. I’ts all a smoke and mirror game. Day of reconing is not far away.
UCO bustin’ a move. You there Morris?
yep, 4000 shares @ 13.17 avg. the ERX i bought earlier today is also doing well.
NOW watch gold and the juniors i circulated yesterday to fly. Best bet on the month is a call option
to june on SA or SEA.TO Seabridge Gold or NovaGold. NG/ NG.TO
Overall market will sell off into the close, any strength seen by pros as time to sell. Get gold, sliver.
Yeah, Teck Resources is not up much after 2:15. I bought some puts on it. I think we`ll see a green close in the US today and a red close in the next couple of days.
Did you actually have to put ‘Zee is gay” in the subject to get the list? Because I’m actually emailed you but not with that subject. Anyway you are seeing the market great.
Sorry, i don’t make up the rules, but rules need to be followed.
Zee is spamming that a/c and its the only way i can deal with his abuse. Fundy moslems
not allowed to call selves gay or handle pig ears. 100% true.
Sold all UCO @ $13.25 (bought @ $13.05). GL.
good trade! still holding mine; looking for 13.50 or more.
sold mine @ 13.23. Still holding 2K shares of UNG, 1k SLV and 1K FAZ.
I know idan meant 520′s on GOOG. When I saw where ya said 320′s my eyes jumped out lol.
500 EUO @ 21.75
I know the MAs are not supporting MOS, c/b be bottom per keltner channel, similar to GOOG, have MOS on my watchlist
I’m also looking at it as a long term holding and I wish today’s bounce had higher volume. I had it at the bottom of my to do list yday to sell some June 45 puts as I don’t mind owning this down there but didn’t have time to do it.
Others that are in disagreement with MAs are some names in the big pharma sector–LLY, MRK and BMY (reports earnings today). All have great dividend payouts as well. LLY & MRK interests me most with single digit P/Es.
This sector could also be a momentarily safe haven if markets go haywire.
If you can wait to hold the stock for MOS ( assuming flat or slightly bearish moves) for another year or two and sell way out of the money monthly call so that they don’t take the stock away, this is a keeper as ags/commodities esp. grains i.e. wheat are the future…If I can make some money, I like to buy a stock that deals with cotton as well. Jim Rogers is big into commodities even National Geographic had an article regarding decreasing arable land year by year.
I have BMY holding w/i my son’s college account. I consider LLY…big pharma defensive plays, divd income for the senior citizen and the like.
For the chartists out there . . . ping rich . . . .
Look at the bowl formations on OGC.TO>>> shows me one of the most bullish patterns leading to
break out and surge that can be generated. Idan, take a look at this and tell me what you see.
Micro golds will be the way of the future, unhedged.
hey jimbho, what’s the ticker symbol for this stock on the american exchange?
It trades toronto, aussie and nz. Huge insider buys, real earnings and expansion.
sorry i don’t have access to .to stocks.
I’m going to hold all positions overnight (EPV, ERX, EUO, SSO, and UCO). Have a good one!
Bought GS calls yesterday at 8 on your recommendation… Sold a little while ago for 10.10… another great trade…. Thanks Morris!!
no problem; i should have held my GS shares today.
Bought GOOG @ 528.23
Sold Short AAPL @ 262.00
I know VIX closed is beyond the 13 EMA and 34 though the 30% bump from yesterday probably contributed to this, so c/b skewed…
idan,
i know you got stopped out of WYNN..but are you back in??? earnings tomorrow? with the 10 min chart you showed, whatcha thinking.. short or puts now and ride through earnings??? hope for the break down of the head and shoulder formation? just trying to get some ideas.
thanks
btw..i got some front months puts
I got stopped out, didn’t have a chance to go back in nope.. sorrys. I would wait after earnings to buy puts or go short. Although i still think WYNN needs to fall 10-15%, so if you can withstand a possible 5% loss on good earnings go for it.
i agree w/you idan and keep in mind historically, no matter what the earnings are, they slide going into the summer. i’m hoping for a quick pop, maybe back to 90-92, then a slide all the way thru mid june
BIDU on the move!
hollllllllly crap
they just crushed earnings. i’ve learned my lesson shorting this thing mid year last year and only play it on OpEx where i sell options (put and calls) at around 1030.
*crushed earnings estimates…
WTF i wish i could hold to mine 400 shares at 390
Have complied my 2nd list of high prob golds all under $1 with micro cap and actual production,
if history is any indicator, these will run tenfold. When gold launched in the 70′s minor players like
these jumped 1000%.
email for the list as jimbho1@gmail.com enter Zee is Gay in subject line.
Jimbho,
I emailed you yesterday but never received your response. Also followed your directions to a T. I will forward that email in a few minutes.
Did you forget to mention Zee is Gay in subject line?
lol what’s up with you and Zee
send me email i’ll like to check it out
Nothing serious, he spammed my gmail inbox so have to filter.
What else do you expect from a 12 year old wannabe trader?
I emailed you too.
jdub,
Have you gone long ALNY ? I just saw your post from early afternoon.
I checked the chart also.
RNAi technologies are interesting. What are your thoughts? thanks
ALNY-closed above 20 SMA today. Didn’t have time to post but my order for June 20 C for .25 got filled.
I am no expert in this field and really have this as a trade vs. a long term hold. If you think this company is fundamentally sound and will do well in the future, go ahead and buy then sell some upside calls against it. How I usually scale in to what I want to hold for the long term is buy the stock (50% of intended holding), sell some out of the calls (3-6 months away), and then sell some out of the money puts (or put spread). If it drops and the stock gets put to me, then it effectively brings my cost basis down. If it rallies or doesn’t do anything, then I get to keep the premium. This might be a perfect candidate for such a strategy as it appears to have support at 15.
Personally, I am wary of holding biopharma stocks as long term holds as I just do not know enough about their business/technologies and do not have enough time to study FDA applications/rejections, etc.
This popped into my radar only due to Novartis exercising its right to buy. I usually use that info and then look at the charts for more insight.
thanks jdub,
Your information is appreciated. The Novartis news also piqued my interest last week;however, I was not sure of its potential due to my thinking that 55K shares did not seem to be a large holding. Then again, perhaps it means more than I gave it credit for being I am not a biotech expert either.
Is the important factor,in your opinion, the action in exercising its right to buy, rather than the actual quantity of stocks purchased by Novartis? thanks
Based on the article below, it looks like the purchase was made so that Novartis maintains a specific ownership level—-roughly 13.4%
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20100426&id=11448220
Here are the purchases that Novartis has made the past 2 Mays.
05/08/2008: Novartis buys ~214K shares @25.29. Closing price of ALNY on 5/13, 29.74 (high of 30.26) which is a 17.6% increase from price Novartis bought it at.
5/6/2009: Novartis buys ~66K shares @17.50. Closing price of ALNY on 5/11, 21.70 (high of 21.90) which is a 24% increase from price Novartis bought it at.
Notice the pop within the next few days. Past performance never guarantees similar action in the future and one interesting to note is that in the past, ALNY moved within 2 days of when Novartis made the purchase. It’s been 3 days since Novartis made its latest buy. Some tidbits to think about.