Wednesday, September 27, 2006

Windows dressing is almost over

and with it short covering which is helping to propel markets to new highs will be gone too. All or most of latest short ideas are still short - just at the better entry prices.
Here what I think might be most promising trades:

TEX - right where it is - if higher - even better
SHLD - same
RATE - somewhere at 27-28 depending on how it'll go ( don't worry about high short interest - none is going to cover anytime soon :) )

COLY 11.20 - 11.40 stop 11.08
ILSE 19.30 - 19.60 stop 19.05
SFUN 28.55 - 29.10 stop 28.09

Commenting on PCTI action today - at the time when it was shaken down SemiHolders sold off quite hard, still long at 10.30-10.50 with stop at 10.11

"I make rules - I brake rules" - here what I traded/trade ( As I explained before - I dislike to open my cards in order not to affect anyones decisions )

SLXA profiled on Sep 20th, pick of BullTrapper of Trade Guild investment blog, put up quite a performance lately, bounced off $8 area - nice going BullTrapper!
I picked it up on Sep 22nd at 7.90 ( as I say in my trading rules - I don't chase stocks - "Money not made better then money lost") and closed today at 8.66 missing extra .30 pop - did so due to anticipation of coming market selloff, I'm about 70% short now

RIO short, pick of BullTrapper of Trade Guild investment blog opened short position at 21.06, with soft stop right above 22

APOG - closed position on pop at 15.94, might re-enter long pos. at 15.35 +/-

VRTX - covered, institutional defence is not done pumping this one

GRMN - quite a pop, good short opp., if tomorrow morning goes up - 48.50-49 would a perfect entry for short position, with stop at about 50.28

SUF looks like it is recovering - this is high risk/high reward long trade.

NXG - went up with minning stocks, I think GLD will continue go up for few days at least.

others candidates of interest:
short: CCU RS TIE SNX ZOLT and last, but not least - FMCN looks like this time it IS breaking down