Watchlist for December 2nd

PEIX more than doubled in three days on news of restarting a plant. Overdone move, short on weakness.

SNTS was up in after-hours trading on FDA approval. I’ll buy if it shows further strength.

DYAX also went up big after hours due to FDA approval news.

EGHT had a nice breakout today on huge volume. I’m long if it looks like it can continue.

GSIT is up on NLST-type news. After today’s black candle I’m looking to short on green/red action.

Disclosure: No positions in anything mentioned in this post. I have a disclosure policy and you can find all my disclaimers there as well; those disclosure & disclaimers are incorporated by reference into this post.

This entry was posted on December 1, 2009, 8:00 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 December 1, 2009 - 8:58 pm

SCIL, low volume but possible breakout that may be worth watching.
AAU, small ADR but might be good above .90
MVG tried to breakout today, could continue tomorrow.
GPRE has a nice chart and could run tomorrow.
CBPO ditto.
MVG, GPRE and CBPO could be nice shorts if they fail tomorrow.
#2 by johnc on December 1, 2009 - 10:25 pm

TSPT – meh.. i think it’ll be interesting though
#3 by Firsteduc on December 2, 2009 - 8:49 am

Does anyone here auto trade with Covestor?
- #4 by Reaper on December 2, 2009 - 8:51 am
  
  I am trying it just to try it. Fills have been shit so far.
#5 by Preston on December 2, 2009 - 9:00 am

CYTR might open at resistance.
DYAX going to open above resistance.
#6 by Firsteduc on December 2, 2009 - 9:04 am

Do they lag as much as the alerts?
- #7 by Reaper on December 2, 2009 - 9:06 am
  
  More … my fills on Tim’s DRAM short were 15 minutes after he traded for both sides of the trade. So I shorted at 4.28 and covered at like 4.74.
#8 by Preston on December 2, 2009 - 9:05 am

KERX to open above resistance on FDA news.
#9 by Reaper on December 2, 2009 - 9:17 am

PEIX looks like it may make a great long … above pre lows, looks to open slightly red. If it then goes green I’ll be a buyer.
#10 by Preston on December 2, 2009 - 9:31 am

CBPO breakout
#11 by Ryan on December 2, 2009 - 9:59 am

Can KERX run very high with this news?
- #12 by Reaper on December 2, 2009 - 10:01 am
  
  fast track isn’t that great of news, but you never know.
#13 by Reaper on December 2, 2009 - 10:01 am

GTI 52 week highs
#14 by Preston on December 2, 2009 - 10:37 am

QXM nice breakout chart.
#15 by Preston on December 2, 2009 - 10:39 am

CCRTwould be a nice HOD short if the volume picks up with a better spike, chart is horrible. Maybe good for a scalp.
#16 by Preston on December 2, 2009 - 10:57 am

CCRT is a long way from my 750k volume that I like but this spike is very weak, I think it will drop like a rock and I have no trades to play it. Another thing to look for is when the spread gets tighter.
#17 by Preston on December 2, 2009 - 11:20 am

There goes CCRT, AMTD has no shares anyhow, but with the low volume it might be a bounce play but I’m no good at those.
#18 by Preston on December 2, 2009 - 11:24 am

LIWA on retest of HOD will be a good short if it happens.
#19 by Preston on December 2, 2009 - 11:32 am

LIWA, this might be all the spike that’s left around 9.70ish, volume fading too.
#20 by Preston on December 2, 2009 - 11:54 am

LIWA beautiful break/bounce off of HOD.
It’s a very good mental exercise to write on this blog even though I can’t play positions sometimes.
#21 by qbantek on December 2, 2009 - 12:04 pm

GSIT, volume is gone.. fading
#22 by Preston on December 2, 2009 - 12:41 pm

Now I feel like an idiot, I was AFK when that nice spike happened or I would’ve commented on it. Just goes to show that I have no idea what I’m doing most times and l get lucky I guess.
I hope someone played that HOD break it was nice.
#23 by the donger on December 2, 2009 - 1:00 pm

New guy question. I’ve seen the term “AFK” in a couple comments and/or posts recently and have no idea what it stands for. Can someone enlighten me?
- #24 by Reaper on December 2, 2009 - 1:04 pm
  
  Try googling it … -1 duck for you!
  
  http://lmgtfy.com/?q=afk&l=1
#25 by Preston on December 2, 2009 - 1:05 pm

Away from the keyboard or computer.
#26 by Luis023 on December 2, 2009 - 1:06 pm

CRIS broked resistance, 52wk high, doubling the usual volume, on some news, as i read nothing big just some conference but still good technical graph today
#27 by Preston on December 2, 2009 - 1:16 pm

donger, -duck on your first comment is almost kinda like a semi compliment.
Welcome aboard.
- #28 by the donger on December 2, 2009 - 1:28 pm
  
  I was gonna blame it on the Norco (from my surgery on Monday), but that would have been a cop-out and another -duck. lol
#29 by Preston on December 2, 2009 - 1:28 pm

LIWA getting close to 52 week highs.
#30 by Preston on December 2, 2009 - 1:51 pm

Kinda off topic for the blog but I’m seriously considering putting some longer term money in a conservative Gold bear ETF because when the bubble burst there will be some easy money to be made. When the people that have been holding their GOld for years decides to start selling to the average person watching one of thousand commercials that run everyday things will start down and will not stop for a long time.
- #31 by Reaper on December 2, 2009 - 1:54 pm
  
  If gold goes higher, it could go a lot higher. If it goes lower, it may not go much lower. I am loathe to engage in such speculation … it is far too easy to lose.
#32 by Preston on December 2, 2009 - 2:09 pm

I guess the old adage is not the same in a item like Gold, buy when others are selling and sell when others are buying because there could be to many outside influences, ie; another recession, war etc.
Thanks, I will hold on to my money and fund my IB and Sogo accounts.
#33 by BearNine on December 2, 2009 - 3:05 pm

GSIT about to crack, need a little help here reaper, big $$$ for the both of us.
#34 by TheHawk on December 2, 2009 - 3:15 pm

Preston,

I highly suggest researching the Dow/Gold Ratio before making that move:

http://seekingalpha.com/article/122086-dow-gold-ratio-of-1-1-or-2-1-in-coming-years

If anything, I’d buy gold at the moment. I plan on doing so, but am not sure if I want to hedge with some small individual mining stocks, buy an ETF, or grab shares of Barrick/Newmont.

China’s amassing a lot of gold these days.
- #35 by Reaper on December 2, 2009 - 3:53 pm
  
  I talk about the gold/dow ratio in the last minute of today’s video trade recap.
#36 by Preston on December 2, 2009 - 3:52 pm

YONG possible short on red tomorrow, nice move today on business award.

Thanks Hawk, good article.
#37 by TheHawk on December 2, 2009 - 4:08 pm

You’re welcome, Preston. Funny, I didn’t even read the article. I’m familiar with the chart though, and just wanted to make sure you saw it. So, it’s a bonus if the article was good.

It’s really something to ponder the ratio. If it were to happen again, how high would gold spike and how far would the Dow fall?

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