Posted by 13 September 2006

Watchlist for September 13, 2006

See the expression on the cat’s face above? (Who knew cats had expressions?!?!) That must be how the bears are feeling right about now. :) )

Looks like a pretty calm opening this morning. My gut tells me this will be a consolidation day but you never know. Keep in mind that expiration games will be heating up. Watch out for stocks getting pinned to strikes…

Potential swing trades:


See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.

Potential day trades:

(From Briefing.com)

Gapping Down

ESCL -10% (to delay 10-K filing), CRME -6.1% (Phase 2a data for treatment of atrial fibrillation), EGLE -4% (prices stock offering), PLMD -4% (announces $150 mln convertible note offering), ACAM -1.8%, THO -1.4% (RBC downgrade), MRVL -1.3% (gets delisting warning from Nasdaq), XMSR -1% (profit taking after 4% move yesterday), BOBJ -1% (to acquire software firm).

Gapping Up

FNET +12% (extends yesterday’s 59% move), ASEI +5.3% (receives $42.4 mln govt order), ENER +4.6% (reports JunQ), IMAX +4.4% (CNBC stock picking champ Thomas Ko out with a Long in IMAX today on potential buyout), JOYG +3.7% (expands stock buyback program to $1 bln), FLEX +3.7% (Goldman upgrade), ACGY +3.1%, GPS +2.6% (Lehman upgrade), THC +2.5% (Goldman upgrade), RMBS +2.2% (extends recent momentum, stock up 80% in a month), Under $3: TSYS +4.3% (extends yesterday’s 12% move; positive Nollenberger note).

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Comments

  1. Posted by Trader-X on September 13, 2006 at 9:28 am

    Uh, dude. What about the naked person behind the cat? Why are you posting cat porn on a trading blog?
    :o

  2. Posted by Michael on September 13, 2006 at 9:32 am

    Is there a naked man back there? I didn’t even notice

  3. Posted by eR0CK on September 13, 2006 at 10:25 am

    It appears there is indeed a naked man … or at least his naked legs [-(

    Quick question Mike, off-topic. When you first started trading (before becoming a day-trader) did you trade on paper? Perhaps you just started with some small swing-trades? Just curious.

    -Erich

  4. Posted by LP on September 13, 2006 at 12:30 pm

    Meaningless point…cats are the only animals that can smile and frown…

  5. Posted by Michael on September 13, 2006 at 12:32 pm

    interesting… I didn’t know that. But are you sure bears can’t frown? ;-)

  6. Posted by Michael on September 13, 2006 at 12:37 pm

    eR0ck,

    no, I never paper traded. I just jumped right in with real cash. I’ve always been pretty sensible with position sizing, so I didn’t even trade smaller than usual when I started. If I was starting now I probbaly would start small though. I was too ignorant to even know that I should have done that. :-)

  7. Posted by eR0CK on September 13, 2006 at 3:59 pm

    I’m very surprised by your answer! Although I suspect the first day you began trading you probably had read at least a few books and you were aware of the basics (although sometimes I find it’s best just to jump-in, albeit cautiously). Lucky for me, trading with real cash is relatively low in risk because I don’t have much to play with at the moment. Position sizing is my next read (on your blog). Keep up the good work!

    -Erich