Sunday, August 24, 2008

Live Lists (the long and short of it)


Alright, Friday's advance was notable, but it was a low-volume affair and well shy of anything extraordinary. I still think a very short-term approach is best here, unless you're a lot smarter than I am. I'm not particularly biased in either direction for the time being.

This weekend I've scoured my screens and charts (foregoing my usual bender) and below is some potential ammunition for firing long and/or short; on a short or even shorter-term basis.

Widows and orphans be damned - or at least don't do anything I do...


SWING LONG
(1 to 5 day long-side trades; live names within healthy industry groups):

Pollution Control
-TISI (thin)
-CLHB (thin)

Energy-Other
-MEE
-CSIQ
-ENER

Medical-Biomed/Biotech
-GENZ
-CELG
-ALXN
-CVTX
-VPHM
-UTHR

Medical/Dental Svcs
-PRXL
-GXDX (thin)
-ICLR

Medical Systems/Equip
-VAR
-ISRG
-MR

Electrical Equip
-AZZ

Machinery-General Industrial
-FSYS
-FLS
-DXPE (thin)
-RBN

Transportation Rail
-KSU
-CSX

Retail Clothing/Shoe
-BKE
-URBN (21% short int.)
-ROST

DAYTRADE LONG (Big-volume, up-days in the market showing a clear, broad advance):
-RIMM
-SOHU
-ISRG
-CELG
-FSLR
-SYMC
-ADBE
(**I'll be looking for other high-volume, news-driven names the day of the big up-days in the mkt, which very well may be the better daytrade candidates for that particular session)

SWING SHORT (1-5 short-side trades; poorly behaving names within recently deteriorating industry groups):

Agricultural Operation
-DAR
-SYT
-BG

Chemicals-Fertilizers
-TNH
-IPI
-POT
-MOS

Metals-Ores
-BHP
-TCK
-CCJ
-PCU

Machinery-Construction Mining
-JOYG
-CAT
-ASTE
-MTW

Transportation-Ship
-OSG
-DRYS
-TNK (thin)
-TBSI

DAYTRADE SHORT (Big-volume, down-days in the market showing a clear, broad decline):
-WYNN
-PCLN
-MOS
-BUCY
-CAT
-POT
-GM
-GRMN
-EBAY
(**I'll be looking for other high-volume, news-driven names the day of the big down-days in the mkt, which very well may be the best daytrade candidates for that particular session)

One tidbit of note, very many of the longs on my list have high short-interest ratios. Typically I do not like betting against a large amount of shorts, but in this case I am looking short-term enough that I am not overly concerned. Perhaps it says something negative about the market overall; I'm not really sure but I doubt it's anything positive.

And another note, I won't be daytrading anything that is not moving in the direction of the larger trend on the big market days. For example, sometimes you will see the Ag's up on a big down-day in the market. In that case, I simply avoid that group and look elsewhere.

Good luck this week.

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