Posted by 3 June 2005

Watchlist for June 3, 2005

I didn’t get a chance to run my EOD scans so I’ll just leave the swing trade list blank for today (not that anybody’s reading)…

Looking for swing trade entries in:

Longs – none

Shorts – none

Potential day trades:

(From Briefing.com)

Gapping Down (shorts)

DECK -6.2% (lowers Q2 and Y05 guidance), COGN -5.6% (warns for MayQ; down in sympathy: HYSL -2.7%, BOBJ -2.1%), AAPL -4.3%
(settles iPod class action suits by offering store credits; Apple
overstocked on most iPods, Macs – AppleInsider.com; down in sympathy: PLAY -4.5%, SGTL -2.5%), LWSN -7% (Wells Fargo downgrade), EDS -3.2% (sees potential Q2 impairment charge), BIIB -3.2% (Morgan Stanley downgrade), HCBK -2.7% (announces results of stock offering), TTN -1.5% (to merge with LLL), RIMM -1%, ADSX -5.2%.

Gapping Up (longs)

BCSI +21% (reports AprQ; beats by a penny; guides JulQ above consensus; also First Albany upgrade), IIJI +9.2% (extends recent momentum; note this is volume leader in pre-mkt), EXEL +7.7% (Genentech collaboration), CYBX +3.5% (provides treatment-resistant depression update), ELN +3.5% (bounces after 14% drop yesterday), MATK +3.2% (clinical data), ABRX +3%, WYNN +2.5% (CIBC upgrade), BIVNE +7% (Clofarabine clinical data), AWA +6% (mentioned in BWeek’s Inside Wall St section), LTXX +6% (reports AprQ), ISON +6%, INCX +4%…. Under $3: EVOL +9% (software deployed by Vodafone Egypt), CTIC +5.5%, SYNC +5% (started with a Buy at ThinkEquity; tgt $5).

Intraday Updates:

  • 09:25 This gap up on IIJI feels like it could be an exhaustion gap. I’m watching it for a reversal and for a potential short entry. We’ll see…

  • 09:31 So much for that ABLE short

  • 09:55 ABLE’s on fire today. This is why you use stops! Glad I got stopped out early today

  • 10:45 Watching MSTR for a short entry

  • 10:48 SCSS might be a good short too. waiting for an entry point…

  • 10:51 IIJI broke though $10. hmm… let’s see if it rolls over

  • 12:25 IIJI’s back under $10 but they’re trying hard to get it back above. Just who are these greedy mofos who’ve been buying this all week? Damn momentum traders! :-)

  • 12:30 I’m gonna try to make MaoXian’s Sunday night chat at 8 PM EST. Drop by if you can

  • 1:23 ADBL’s getting hit hard on some AMZN news

  • 3:50 IIJI’s finally falling apart. It’s making a nice shooting star on the daily chart. I hope you were able to get short. :-)

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Comments

  1. Posted by karin on June 3, 2005 at 9:42 am

    I certainly make a point of reading your comments in depth every day!

  2. Posted by Rick Monihan on June 3, 2005 at 9:59 am

    Oh, I’m watching. Not much to say, really, though. Except OUCH on ABLE! I didn’t short it…but I know you did. That hurts. I was watching it intensely, too. Dithering, dithering. Glad I dithered. Usually I’m not glad.

  3. Posted by Scott on June 3, 2005 at 10:05 am

    Oh, we’re watching you…uh, reading you very closely, from now on.

  4. Posted by Ivan on June 3, 2005 at 2:23 pm

    I read the list too :) EOD is all I can handle this far.