Day Trading Thoughts For Fri. Feb. 27

Discussion in 'Trading' started by erikrkolodny, Feb 27, 2009.

  1. erikrkolodny

    erikrkolodny ET Sponsor

    (I apologize this is going out now rather than an hour Microsoft Word went haywire for G-d knows what reason)

    The best performing sector in the S&P 500 in the last week has been the banking sector. How good has it been? The performance of the banking stocks was the best over a five day stretch in recorded history. Like ever. Of all-time. This ends today of course, but that is not the point...what did the overall stock market do in the last few days? Well, it confounded most people (including myself) who thought the market would rally once the financials showed any stabilization. Well, what happened? Simple. Other sectors got absolutely crushed for reasons that actually could have been foreseen had one done a lot of homework. For instance, the healthcare and biotech sectors have gotten rocked in recent days amid worries that the government will be impeding upon the profitability of healthcare companies to operate profitably. Another example is the student loan sector; the once great Sallie Mae (SLM) is in danger of no longer being a viable entity. For day traders, it creates all sorts of turmoil- yet, amid the chaos comes opportunity. If Capital One (COF) is in the middle of a range, maybe Humana (HUM) is on a low. If IBM (IBM is at the top of a range after pre-annnouncing to the upside, maybe one should focus on that tech stock rather than a Chevron (CVX) in the middle of a range. More than ever, know your sectors, understand your politics, and trade with joy yet caution as the last few days have been very whippy.

    Markets in Asia were mixed with Europe down 2% or so across the board. The main impetus here this morning is C. If the market shakes off the weakness in the first half hour, look for a very very very strong rally...however, should the market fail to bounce whatsoever on what is expected news this morning, this afternoon will likely be very choppy and generally weaker.

    Please understand that if the ideas do not get to the hoped for set-ups cited below, more often than not, one should not blindly trade the symbol next to said idea.
    If the whole story is not there -
    If something is good, assume either a short thru unchanged or an A-B-A2 based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified-

    Good- The following stocks have good news and/or a strong technical pattern

    DELL- beat for quarter on earnings

    SBAC- good earnings

    UHS- good earnings

    BCSI- good earnings

    SNDA- decent earnings

    INT- great earnings

    PBT- on “Mad Money” last night

    WG- reversed its downtrend and closed near high

    HBI- closed near a high

    Bad-The following stocks have bad news and/or a weak technical pattern

    C- TRADE OF THE YEAR: The Fed is going to partially nationalize this thing. If the stock trades higher in the pre-open…particularly BEFORE 8AM ET, SHORT THRU UNCH. Watch all other banks as well.

    NNI, SLM- among main student loan lenders demolished yesterday amidst worries that their business will be annexed by the Feds

    TEG- closed near a low after posting bad earnings

    CDI- closed near a low

    CVH, HS, HNT, AMGN, HUM, WCG- all closed near lows among other healthcare entities amid worries about the government’s plans

    SWN- poor earnings

    CVA- poor earnings

    DECK- terrible earnings

    KSS- bad earnings

    GPS- bad earnings

    CTV- poor earnings

    ADSK- bad earnings

    OVTI- abominable earnings

    SNTA- discontinued its phase III trial of its lead drug

    SOMX- discontinued a trial of its lead drug as well

    ERES_ bad earnings

    RWT- bad earnings

    HK- announced 22 million share offering

    CELG- closed near a low

    WMGI- closed at a new trend low

    CBST- closed near a low

    LNCR- closed near a low

    FCFS- breaking down anew; closed near a low

    AMED- closed near a low

    AMAG- huge percentage loss and closed near a low of day

    ETN- closed near a low

    CNW- closed near a low

    MD- huge percentage loss; closed near low

    MIC- in danger of going bankrupt; closed near low

    LVS_ mentioned negative on "Mad Money" last night









    WR WTR

    Good luck today.

    Erik R. Kolodny
  2. Great post. thx
  3. The two of you must have the same I.P. address! :mad:
  4. BUSTED!!!!!!!!!!!!!!!!!!!!!!!!!!!! :D No one will ever find out my alter alias... if I had one.
  5. REALLY?? haha.. proof plz?? Do you even know anything about computer??? haha
    btw.. i'm from Canada. and that dude over there is from Smithtown, NY.
  6. You and your "friend" should get a motel room near Niagara Falls. :cool:
  7. haha.. sure.. i'll call my imaginary friend. peace out
  8. erikrkolodny

    erikrkolodny ET Sponsor

    I have absolutely zero incentive to increase traffic here. As I keep saying, a friend of mine told me to post here because he thought I may be of help. That is all. Furthermore, if I wanted people to put "me too" messages on this thread, don't you think it's more than a little obvious to have a new user post much less put my real name here rather than the aliases most people (including yourself) use?

    In any case, I wish you (and anyone reading this) luck with this very difficult market and a very good weekend.

    All the best,

  9. Your posts are far better than the chit-chat threads started by noobs every now and then and flooding this section. Keep up.
  10. Yes, I like your threads. Very interesting.

    +-*/ Math_Wiz
    #10     Feb 28, 2009