Yesterday the may 12 order to sell short CECO was executed:
Sold short 140 CECO @ 19
Friday, May 29, 2009
Wednesday, May 27, 2009
APC technical analysis
Trading in the opposite direction of a prevailing trend is a dangerous and usually costly tactic. APC is trading inside an uptrend channel that is clearly visible on the accompanying graph, however a failure of the stock to reach the upper end of the channel is often an early warning that the lower line will be broken. That will mark a beginning of a down trend.
For this setup to work, APC most reverse direction without touching the upper line, right now the stock is going high, if APC reverses, I will be initiating a short position at 40.
The three weekly averages are in disarray, 10 is above 30 but they are both below the weekly ema(40), for APC to continue up, the stock must pass the 52.5 level reached at the beginning of may, a weekly close below 42 will definitively constitute a signal of closing all longs but not necessarily a short sell signal. Considering my belief on the weakness of the market now, I will start the short at that level.
For this setup to work, APC most reverse direction without touching the upper line, right now the stock is going high, if APC reverses, I will be initiating a short position at 40.
The three weekly averages are in disarray, 10 is above 30 but they are both below the weekly ema(40), for APC to continue up, the stock must pass the 52.5 level reached at the beginning of may, a weekly close below 42 will definitively constitute a signal of closing all longs but not necessarily a short sell signal. Considering my belief on the weakness of the market now, I will start the short at that level.
Monday, May 25, 2009
Thursday, May 21, 2009
Tuesday, May 19, 2009
New Order
Cancel Apr 26 order to sell short 110 HMSY
Open order to sell short 170 BRY 15.87 stop 15.75 limit GTC
Open order to sell short 170 BRY 15.87 stop 15.75 limit GTC
Monday, May 18, 2009
Sunday, May 17, 2009
XLI
Continuing with my bearish sentiment I’m adding one more short order.
Sell Short 150 XLI 20 stop 19.87 limit GTC
Sell Short 150 XLI 20 stop 19.87 limit GTC
IPHS
Innophos Holdings, Inc., .IPHS , a leading specialty phosphates producer in North America, announced its financial results for the first quarter 2009 on may 4. Net sales increased 17.4% quarter vs. quarter, Operating income for the first quarter 2009 was $55.3 million, an increase of $31.9 million, or 136%, versus $23.4 million for the comparable period in 2008, Net income for the first quarter 2009 was $30.2 million, an improvement of $20.9 million compared to $9.3 million for the same period in 2008, Diluted earnings per share for the first quarter 2009 were $1.39 compared to $0.43 for the first quarter of 2008.
With all those positive news the price action responded accordingly, on May 4 the stock closed almost 12% above May 1st closing price, the following day the price gained 14%. On May 7 the stock opened at 19 and closed at 14.57 for a 23% loss in one day, also the volume for the day was the highest for the last 7 months.
I reviewed various financial blogs and sites and could not find any significant news on May 7 that correlate with the price drop, in fact in most cases there is not any news for that date. So that makes me think that maybe some well informed people know something that I don’t. That huge volume in one day signals institutional trading, individuals doesn’t possess the means to be informed so what we do is we follow the action.
My sell short stop is right below the last support at 14.
Guys remember that these are my ideas, in no case I am recommending to follow these trades, in fact I don’t recommend anything in this blog now or never.
Actually this blog has been designed for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security, which may be referenced upon the blog. Such offers can only be made where lawful under applicable law. The services and information provided through this blog are for personal, non-commercial use and display.
Always made your own research, that said, please: DO NOT RELY ON MY OPINIONS FOR ANY PURPOSE!
With all those positive news the price action responded accordingly, on May 4 the stock closed almost 12% above May 1st closing price, the following day the price gained 14%. On May 7 the stock opened at 19 and closed at 14.57 for a 23% loss in one day, also the volume for the day was the highest for the last 7 months.
I reviewed various financial blogs and sites and could not find any significant news on May 7 that correlate with the price drop, in fact in most cases there is not any news for that date. So that makes me think that maybe some well informed people know something that I don’t. That huge volume in one day signals institutional trading, individuals doesn’t possess the means to be informed so what we do is we follow the action.
My sell short stop is right below the last support at 14.
Guys remember that these are my ideas, in no case I am recommending to follow these trades, in fact I don’t recommend anything in this blog now or never.
Actually this blog has been designed for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security, which may be referenced upon the blog. Such offers can only be made where lawful under applicable law. The services and information provided through this blog are for personal, non-commercial use and display.
Always made your own research, that said, please: DO NOT RELY ON MY OPINIONS FOR ANY PURPOSE!
Orders Recount
I started this portfolio on April 26 with an initial deposit of 50,000.00
So far the executed and open orders are as follow:
Initial Deposit: 50,000
Executed orders
Bought 80 SKF @ 44 : 3,520.00
Sold short 190 ANW @ 15.5: 2,945.00
Sold short 125 AVY @ 27: 3,375.00
Open orders
Sell short 140 CECO 19 stop 18.87 limit: 2,660.00
Sell short 70 CMP 47 stop 46.87 limit: 3,290.00
Buy 80 QID, 40 stop 40.23 limit: 3,200.00
Sell short 110 HMSY at 28 stop 27.87 limit: 3,080.00
Sell short 140 ADM 24 stop 23.87 limit: 3,360.00
Sell short 195 DF 17.37 stop 17.25 limit: 3,387.00
Cash available to trade: 21,183.00
So far the executed and open orders are as follow:
Initial Deposit: 50,000
Executed orders
Bought 80 SKF @ 44 : 3,520.00
Sold short 190 ANW @ 15.5: 2,945.00
Sold short 125 AVY @ 27: 3,375.00
Open orders
Sell short 140 CECO 19 stop 18.87 limit: 2,660.00
Sell short 70 CMP 47 stop 46.87 limit: 3,290.00
Buy 80 QID, 40 stop 40.23 limit: 3,200.00
Sell short 110 HMSY at 28 stop 27.87 limit: 3,080.00
Sell short 140 ADM 24 stop 23.87 limit: 3,360.00
Sell short 195 DF 17.37 stop 17.25 limit: 3,387.00
Cash available to trade: 21,183.00
Thursday, May 14, 2009
Orders
Sell short 140 ADM 24 stop 23.87 limit, Good until canceled
Sell short 195 DF 17.37 stop 17.25 limit, Good until canceled
Sell short 195 DF 17.37 stop 17.25 limit, Good until canceled
Tuesday, May 12, 2009
CECO
On May 6, Education company Career Education Corp, posted quarterly results that were below expectations, hurt by a plunge in revenue in one of its segments, even as other education companies posted strong profits.
Shares of the company dropped almost 10% closing at 19.17 with huge volume traded, on May 7. I’m always in the lookout for companies that drop in price after they posted quarterly results because most of the time that is a bad sign for the price action to come.
CECO is showing a support for more than 3 months at the 19.5 level and at the same time the stock is showing lower highs signaling a descent.
I’m selling short 140 shares of CECO if it breaks down support.
Orders
Sell short 140 CECO 19 stop 18.87 limit good until canceled.
Cancel the April 28 order to sell short 70 FCX.
Shares of the company dropped almost 10% closing at 19.17 with huge volume traded, on May 7. I’m always in the lookout for companies that drop in price after they posted quarterly results because most of the time that is a bad sign for the price action to come.
CECO is showing a support for more than 3 months at the 19.5 level and at the same time the stock is showing lower highs signaling a descent.
I’m selling short 140 shares of CECO if it breaks down support.
Orders
Sell short 140 CECO 19 stop 18.87 limit good until canceled.
Cancel the April 28 order to sell short 70 FCX.
Sunday, May 10, 2009
SKF
From March 9, banks stocks have experienced a huge price appreciation, Wells Fargo went from 9 to 28 for a 200% plus increase, JP Morgan was around 15 and is now at 38, Bank of America almost quintupled its price climbing from around 3 to almost 15 and Fifth Third was just about at 1 and now is above 8.
The financial sector bullish percent closed Friday at 80 in a territory that is considered high risk, contrary opinion calls for a correction of the financial sector.
The UltraShort Financials ProShares (SKF) is a leveraged short no diversified fund, the investment seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the Dow Jones U.S. Financials index.
In others words this fund goes up if financials goes down.
Since March 9 to march 27 the fund went from 244 to 95 for a 60% loss in less than 3 weeks, the macd line correlated accordingly in that period. From March 27 to April 20 it went from 95 to 70 for a 26% loss, the macd line was bearish in that period but made a bullish crossover at the end.
Since April 20 the fund loss was a 44% to the close on Friday 8, however the macd line started climbing going from the 41 area to 50. We are in the presence of a bullish divergence. This divergences some times reflects a market bottom others time they don’t, nobody is sure of the actual outcome but the probabilities are on a price rebound.
Order
Buy 80 SKF 44 stop 46 limit good until canceled.
The financial sector bullish percent closed Friday at 80 in a territory that is considered high risk, contrary opinion calls for a correction of the financial sector.
The UltraShort Financials ProShares (SKF) is a leveraged short no diversified fund, the investment seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the Dow Jones U.S. Financials index.
In others words this fund goes up if financials goes down.
Since March 9 to march 27 the fund went from 244 to 95 for a 60% loss in less than 3 weeks, the macd line correlated accordingly in that period. From March 27 to April 20 it went from 95 to 70 for a 26% loss, the macd line was bearish in that period but made a bullish crossover at the end.
Since April 20 the fund loss was a 44% to the close on Friday 8, however the macd line started climbing going from the 41 area to 50. We are in the presence of a bullish divergence. This divergences some times reflects a market bottom others time they don’t, nobody is sure of the actual outcome but the probabilities are on a price rebound.
Order
Buy 80 SKF 44 stop 46 limit good until canceled.
Friday, May 8, 2009
Tuesday, May 5, 2009
Sunday, May 3, 2009
AVY
On April 28 adhesive label maker Avery Dennison Corp. reported a first-quarter loss, due to hefty restructuring and asset impairment charges and lower revenue, the price closed with a 5% drop.
It is always a bad sign when on the day of earnings report the stock close lower. AVY reported a fall in revenue of 13% and a plunge in earnings of 84% quarter vs. quarter.
I believe the 65% price increase since March 9 is market and group related and that the stock is ready for a correction.
Order
Sell short 125 AVY, 27 stop 26.87 limit
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