Monday, March 16, 2009

Updated Short List (eligible shorts for weak tape)

[scroll below to skip the explanation...]

I ran various short screens today and the below list comprises (the majority of) my eligible shorts for the time being.

For most of these, I need a weak tape to consider initiating or holding short. Here is how I use the list: If a trading day is weak, or if it is mediocre but I am too long-weighted for the action at the time, then I look to the Industry Group Rankings* for that specific day. From the weakest groups within that session I then look to the eligible names below from the respective group(s); this then may generate a trade for just the day, but usually I set out as if it will be a swing trade at least (adding then on further weakness and reducing or ditching on strength).

In other words, if I want to increase short exposure I look to the laggard groups of the day and quickly scan my names below in the group's categories and quickly attack the better set-ups within.

*Intraday Industry Group Rankings stem from Daily Graphs (subscription service), which includes intraday rankings of IBD's 197 industry groups (15 min delayed, unfortunately). I find the screen most beneficial 45-to-90 minutes into the session (there are less reversals at that point, yet it is still early enough to capture further movement from that day's tape).

This briefly describes how I go about adding names. This is in no way investment advice. If you want my advice - Don't do anything I do.

Real Estate (REIT's) (terror on the tape...still):
VNO
UDR
AIV (13% shorts)
KIM (12% shorts)
HST
BXP (14% shorts)
SPG
AVB (17% shorts)
MAC (37% shorts)
CBL (25% shorts)
PPS (13% shorts)
HME (18% shorts)
CPT
UDR
HR (14% shorts)
WRI
CUZ (16% shorts)
KRC
EQR
EPR (15% shorts)

INSURANCE (insure this!):
AXA
HIG
PRU
WSH
MMC
BRO
MET
LPHI (thin)
PFG
MFC
AFL
TMK (got to love shorting a company named Torchmark)
CNO (too close to zero now; avoid)

Consumer Loans/Credit:
COF
SLM
GE
DFS
ACF
WRLD (thin)
AXP
NNI

BANKS/SNL's:
BAC
BBT
NYB
SIVB
SNV
C
WFC
JPM
FITB
BMO
SIVB (15% shorts)
MI
UBS
AF
DLLR (thin)

Misc Auto (components and equipment):
MGA
ALV
BWA
ATAK
WBC

Misc Industrials:
TIE
EMN
TWI
SIAL
DOW
BUCY
MTW
CAT

Misc Technology:
NCR
NIHD
RIMM
AAPL
SINA
ELX
ADSK
PMTC
ANSS
MSFT
DELL
ADBE
JNPR
QLGC
DBD
HPQ
IN
TKC
MBT
MENT
ELON

Misc Retail:
LUX
RBA
RSH
GME (<25.50)
WAG

Fertilizer:
IPI
POT
MOS

Oil/Energy (slick ward from the oil patch):

XEC
SGY
SE
GMXR (Cramer's speculation Friday pump from early Feb)
ROSE
CRZO
PBT
SFY
PWE
NBR
HGT (thin)
DVN

Medical-Hospitals:
UHS
CYH

Medical-Outpatient Homecare:
LHCG
HLS
PSYS
MD
AFAM
GTIV
AMED

Medical-HMO's
:
CVH
HUM
HS
WLP
UNH

Medical Sys Equip:
ISRG
ELOS
CMED
KCI

Medical Whlsle Drug:
CAH
MCK
PSSI
OMI
ABC

Airlines:
RYAAY
SKYW
AMR
UAUA
CAL
LCC
DAL
LUV
CPA (thin)
HA

Hotels:
HOT
IHG
MAR

Funeral Svcs:
MATW
STEI
STON (too thin)

Comml Svcs-Leasing:
R
GMT
MINI (thin)
AER
URI
UHAL (too thin)

Comml Svcs-Staffing:
KFY
MPS
HSII (thin)

Office Spplies Mfg:
BRC
DLX
AVY

Paper:
MWV
PKG
IP
AIN (thin)
WPP (thin)
RKT

Aerospace/Defense:

LMT
RTN
GD
BA
ERJ
TXT
ISYS (thin)
HXL
ORB
ATK
TDY

Retail-Shoes:
NKE
DECK
KSWS (thin)
WWW
SKX

Media:

CETV
NWS
CBS
CXR
RCI
DIS
TV

Beverages-Alcoholic:
TAP
CEDC
FO

Hand Tools:
SNA
SWK
BDK
BLT (thin)

No comments: