News You Can Use

Discussion in 'Trading' started by Brandonf, Jul 8, 2002.

  1. Brandonf

    Brandonf ET Sponsor

    a pretty volatile day today. I was bullish most of the morning and was buying things, and though I was profitable the broker made more than I did..which is generally not the goal. Things have been very whippy, so my risk to reward hasnt been as good as Id like it to be. I will probably be sitting on the sidelines the rest of the day.

    #61     Jul 15, 2002
  2. Brandonf

    Brandonf ET Sponsor

    Yesterday was one of the strongest late day rallies we have seen in some time. It will be important for the market to see follow through today. If not, look out. There is not much for news today that is very interesting to me from a trading perspective, but I would suspect today would be a bad news is good, good news is good day.

    Crown Cork and Seal (CCK): The company met Q2 earnings. The daily chart is attempting to put in a higher low, a small change of trend. Look for buying opportunities.

    Impath (IMPH): The stock is downgraded by Weisel. The weekly chart is fairly extended (they seem a bit late). Look for buying opportunities.

    A few others to watch.

    Yesterday Soloman downgraded a few stocks that had very nice double bottoms. SEBL and VRTS both still look very attractive for possible buying opportunities. ADTN also beat earnings (Yesterday) and responded well to this. Keep an eye on the stock for continued upside.

    #62     Jul 16, 2002
  3. lojze


    How would you know next time, that the turnaround is so strong as yesterday?

    #63     Jul 16, 2002
  4. Brandonf

    Brandonf ET Sponsor

    Coz I keep the data.

    #64     Jul 16, 2002
  5. lojze


    Yes, yes, but this type of answer is not really informative ...


    #65     Jul 16, 2002
  6. Brandonf

    Brandonf ET Sponsor

    Very nice action in the news stocks again today. IMPH gave a small loss to a scratch, everything gave very nice profits. Congrats.

    #66     Jul 16, 2002
  7. Brandonf

    Brandonf ET Sponsor

    14:00:10 cst *DAY TRADE*: (Based on daily and intraday setups. Holding period = several minutes to several hours. Closed by end of day) *SHORT SETUP* ALTR can be taken short here (13.92 last)
    14:00:26 cst *DAY TRADE UPDATE*: ALTR stop 14.
    14:02:08 cst *DAY TRADE UPDATE*: ALTR risk cover. Take partial profits, move stops to breakeven.
    14:02:26 cst *DAY TRADE UPDATE*: ALTR target on remaining shares 13.60

    14:11:41 cst *DAY TRADE UPDATE*: ALTR hitting target
    this chart is the 15 and the 5 of altr
    on the 15
    you can see this is the first rally after a sharp decline
    this tends to be an opportunity to get back on board the trned
    then we go to the five minute chart
    and we can see that it takes out the lower keltner band
    this tells us that the bear flag should be shortable
    with a target at the prior low
    so this is what gives us the short
    #67     Jul 16, 2002
  8. Brandonf

    Brandonf ET Sponsor

    News is fairly uneventful this AM. We did have MOT with its largest loss ever, and INTC miss too, yet the futures are still gapping up. This should be taken as a sign of relative strength. The first play of the day is likely to be a short though as the SP is gapping right up to its 120 minute 20ema.

    #68     Jul 17, 2002
  9. Brandonf

    Brandonf ET Sponsor

    Teradyne, Inc (TER): The company reporting earnings that were better than expectations. The stock has a classic daily short setup, downtrending stock, rally against this trend to resistence. Look for shorting opportunties.

    EMC Corp (EMC): Merril raises Q2 revenue to $1.43 billion from $1.37 billion. This trader thinks they have really good timing. Gee the stock is only up 55% in the last 14 days, surely it should go higher! Well, maybe not, we are at a decent area of resistence, the daily chart formed a doji too. Look for shorting opportunities.

    Royal Caribbean Cruises (RCL): Morgan Stanely upgrades RCL and CCL to OVERWIEGHT (SLIMFAST OK!!!). They think RCL is the best of the two, so its probably the best to short. Look for opportunities to short. Just an interesting sidenote. Stocks with by and strong buy recs by major brokers lost 43% last year. Stocks that had sell recs (there where only 243) were up 19%. HMMMMMMMM, wonder why they get paid the big bucks.

    #69     Jul 17, 2002
  10. Brandonf

    Brandonf ET Sponsor

    Verizon Communications (VZ): Morgan Stanley cuts estimates and price targets for many RBOC's, one of them being VZ. The weekly chart however is very extended to the downside. Two other things, one that matters and one that does not. If you look at the performace of the other stocks in the sector they have all been terrible, but you might only classify VZ as pretty bad. This is actually a sign of a leader. The sector is, IMHO, starting to become undervalued in some places, so you may want to look at some to pick up. Of course the most important point is that I just got a new Verizon Digital Phone last night, and I spend about 5000 anytime minutes a month, so certainly my big spendin yackity mouth will help them out BIG TIME. Look for buying opportunities.

    Kulicke and Soffa Industries (KLIC): The company said in a statement last night that it had a net loss of 37 cents per share for the third quarter vs estimates of of a loss of 22 cents. The stock has been basing well at low levels. Look for buying opportunities.

    #70     Jul 17, 2002