Watchlist for September 8th

EXXI – long on red/green or $1.50 cross, up big Friday on earnings release, could keep running

GTN – long on breaking $1.14, can run, sector is still hot

JAZZ – could be a flipper. Big technical break Friday but ran big already. Short on weakness, buy on strength.

BONU – promoted crap. Short on green/red. Shares likely unavailable everywhere.

NVTL – could be decent on red/green or break of $11.37, not a great history of running though. Tends to gap instead.

IVAN – buy on break of $1.85 or red/green

Disclosure: No positions. I have a disclosure policy.

This entry was posted on September 7, 2009, 7:55 pm and is filed under All Categories, Watch List. You can follow any responses to this entry through RSS 2.0. Both comments and pings are currently closed.

37 Comments

#1 by Preston on September 7, 2009 - 8:54 pm

GTN was the first stock I had on tomorrows watchlist.
ANDS on the break of 2.75-80 area may look good.
Still watching AEN, TONE, and KOG for similar breakout patterns.
One short candidate, BLDR, if it breaks 4.25 and continues lower could take out 4 and be a good short.
MDOR if it breaks 1.25 could run.

Michael I apologize for my last comment on the other blog about me pointing out mistakes in your blog, for some reason it seems that comment sounds kinda pompous of me and it was not meant to be.
- #2 by Reaper on September 7, 2009 - 9:03 pm
  
  The last comment didn’t sound bad at all. I am a perfectionist and I do like it when people point out mistakes (except for the people that write “Dude you wrote sense instead of since! You’re such a #*$#$ idiot! I don’t know why people listen to you.”
  
  BLDR I personally don’t like shorting stocks on multiday weakness.
  TONE only 1 recent day >200k shares, too little volume for me (but otherwise, a nice breakout over $2.98 on Friday)
  KOG I’m not a fan of resource plays … they move to much based on fundamentals of what they dig/drill and not on technicals
  ANDS I don’t like how it had a black candle with a peak of 3.06 in early August
  
  I don’t like most of mine either … GTN looks potentially nice though, as does EXXI unless it gaps up much.
#3 by Preston on September 7, 2009 - 9:12 pm

lol, ok thanks.
Yeah I know what you mean, believe it or not I spent hours looking at charts and stocks, I have way to many watchlist built to manage and do not have conclusive evidence on any one stock for a play.
Oh well, tomorrow will bring something for sure, still holding MERK from Tim Alerts play, may add if it shows early morning strength, if not I will dump hopefully for a little profit.
#4 by Preston on September 7, 2009 - 9:21 pm

Replace MERC for MERK.
#5 by Robert on September 8, 2009 - 12:19 am

EXXI seems promising, but do you guys generally wait a few minutes after market opening before trading? I’m still trying to figure out good times to get in
#6 by Ryan on September 8, 2009 - 12:47 am

I’m wondering the same question…
#7 by john c on September 8, 2009 - 1:33 am

I hate jumping right in during the morning. I like to wait til 12 for setups for the afternoon. i hate morning fakeouts
#8 by john c on September 8, 2009 - 2:07 am

if the television communications sector stays hott EVC could go up as well and break-out. Just saying it has potential as well
#9 by Preston on September 8, 2009 - 7:10 am

I will trade anytime the action looks right, sometimes to me right at the open is the time to get in and get out, but that’s just me.
#10 by john c on September 8, 2009 - 9:02 am

NXG just broke out …
#11 by john c on September 8, 2009 - 9:07 am

CHP is kinda a breakout.
#12 by Reaper on September 8, 2009 - 9:10 am

BGMO still on short watch.

I generally don’t do well buying stocks in the first few minutes unless they are crossing an important mark (round # or breakout level) or have huge drug news).
#13 by john c on September 8, 2009 - 9:25 am

Gold Prices broke through 1000
#14 by Reaper on September 8, 2009 - 9:54 am

erggh, I was too slow on GTN, got filled on only 200 and quickly sold that, while I went whole hog into EXXI on red/green. -352 net on the pair. EXXI doesn’t bother me, but missing GTN does.
#15 by john c on September 8, 2009 - 10:04 am

SPNG finally revealed itself today… it cracked .19 and sank to the lowest lows ever.
#16 by Preston on September 8, 2009 - 10:20 am

Yep, I didn’t stick to my plan with GTN because I was worrying with MERC hold over from Friday and missed a good play on GTN which was the top stock in my watchlist as well as yours.
#17 by Jamal Chahboune on September 8, 2009 - 11:15 am

Bad luck on the EXXi red/green pivot, I was considering buying it as it went red/green since everything else opened in positive terriotory other than EXXI. I thought it was opening on red to fakeout the bulls and lure in some greedy shorts, but I guess not!

I’m suprised you didn’t short it on greed/red pivot, I didn’t either….a bit too choppy really.
- #18 by Reaper on September 8, 2009 - 11:17 am
  
  Jamal — I’m not a quick trader, so I don’t flip things. I just go with what I think is the highest probability setup and then stay out if it acts differently.
#19 by Ryan on September 8, 2009 - 11:35 am

Any thoughts on AXU?
- #20 by Reaper on September 8, 2009 - 11:36 am
  
  I don’t like trading mining or oil stocks. They depend too much on the price of their commodity.
#21 by Reaper on September 8, 2009 - 12:22 pm

BGMO died today. Still no shares.
#22 by Preston on September 8, 2009 - 12:51 pm

I really missed out on OPXA, there were several trading opportunities on that one today that would have paid good.
#23 by Preston on September 8, 2009 - 1:06 pm

Well I didn’t completly miss it, 1000 shares at 5.43 out @ 5.53 for +100 profit. That was a very risky (stupid) trade, after I got in it fell down hard and I entered a sell order for my shares, it came back up and took me out, hehe I need some of that soothing music after that. And maybe a valium as well.
- #24 by Reaper on September 8, 2009 - 1:08 pm
  
  ha! looks like we would have done well if we’d combined forces … I bought at 3.06 and sold shortly thereafter for $0 because I thought it was already up too much on the day to go up much more. Hahahaha!
#25 by Preston on September 8, 2009 - 1:25 pm

haha, that is pretty funny. I sat in my chair and watched it cross 4, saying damn I should buy. I said ok if it crosses 5 I will buy, hesitated there and watched it go higher to over 5.5. After I bought I went down 300 in a matter of seconds, I started to throw my computer across the room. What a day, I’m up 157 by the hair of my you know what….
Damn now it’s over 6, unbelievable.
- #26 by Reaper on September 8, 2009 - 1:28 pm
  
  OPXA one where I would’ve been helped by looking at the news. Those phase 2 results are great! Even at $7 this is an under $100m market cap company. I bet a big pharma would spend $100m+ based on those results. That being said, I sure wouldn’t buy here.
#27 by john c on September 8, 2009 - 1:29 pm

i bought in at $4.06 and sold at $3.92 when it failed to strongly break resistance… lost $130 on OPXA
#28 by john c on September 8, 2009 - 1:30 pm

u dont think it’ll touch $8?
- #29 by Reaper on September 8, 2009 - 1:31 pm
  
  I have no clue where it will go. As displayed by my selling the stock at $3.07
#30 by john c on September 8, 2009 - 1:39 pm

lmao … thats tru.
#31 by Preston on September 8, 2009 - 2:13 pm

Well, my alert went off on AEN at .80 cents and now it’s at 1.40.
#32 by Preston on September 8, 2009 - 2:16 pm

Michael, you think that might be a decent short, maybe up on Pharma news today in general, I can’t find nothing else on it.
- #33 by Reaper on September 8, 2009 - 2:18 pm
  
  AEN would be risky short IMHO, but perhaps decent risk/reward considering it is up 100% on no news I see. I won’t short it.
#34 by tbohen on September 8, 2009 - 2:21 pm

EXXI afternoon slow fade.
#35 by Island Minister on September 8, 2009 - 2:34 pm

Hey Reaper,

Nice bear trap early am on JAZZ. Would have been a nice buy when it broke back above $9.

tbohen- I concur on EXXI.
#36 by Reaper on September 8, 2009 - 2:41 pm

We’ve got timestamps! That was a pain … I had to hack the functions.php file.
#37 by Island Minister on September 8, 2009 - 2:43 pm

That’s AWESOME- I was gonna ask you about that- really affects the alerts!

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