Wranglers Trading Zone

[wrangler]

Another possible earnings play

STP : SUNTECH POWER HLDGS (NYSE:STP)
Earnings Nov 15TH
Broke out to new highs
Record volume on break out
This happening two weeks before earnings. The chart is talking

Up 5.00 from my alert yesterday
Did anybody get in

[wrangler]

CNXT : This stock I have had since 7-17-07 bought @1.44 and has had a roller coaster ride since. When I first bought, it dropped and has since climb back to my buy price and should have sold it but I was hoping for something that didn't happen and now has dropped back down. Earnings is Thursday and chart will show that I'll probably be taking a loss on it but I'm getting better educated at how earnings play works and hope to do better in the future. I'll be selling this stock Wednesday at the best price I can get.
The way the price has fallon the past week shows very unfavorable signs of a bad report.

That is why it is also very important to use stop losses in every trade

May decide to hold this stock thru earnings since I'm losing in it anyway.
Reason : 8 analysis is covering this stock. Four of them suggest holding. I've been holding since 7-17-07 and have seen it drop to 1.05 and come back up so why give it up now.
1 strong buy
1 buy
4 hold
1 sell
1 strong sell

Sometimes it's hard to decide what to do because of the days trading. Thursday is earnings and usually it's best to sell before earnings. But when trying to read the days trading you sometimes get mixed feelings. I was planing on selling for a loss but todays trading is making me thinking twice about selling. Today was a very bullish day for CNXT. 7,000,000 shares was traded. It started out at 1.21 and within the first hour 650,000 shares traded and went to 1.28 and stayed with around 6,500,000 shares traded at 1.27 and 1.28 and ended the day @1.28
How do you sell after todays trading. If I don't sell tomorrow I will definately set a trailing stop loss and see what happens.
Any comments appreciated

[wrangler]

Sold CNXT @ 1.27 today for a loss ,,Didn't like how it was beginning to drop back down after yesterdays run. Probably just sucking some more traders in before it drops further after earnings. Guess we'll see Thursday

Sold ACII @.40 today for a gain

On the prowl for a stock to buy

Goodluck trading

[wrangler]

Sold CNXT @ 1.27 today for a loss ,,Didn't like how it was beginning to drop back down after yesterdays run. Probably just sucking some more traders in before it drops further after earnings. Guess we'll see Thursday

Sold ACII @.40 today for a gain
Also trashed all my penny stocks today and will only buy NasdaqBB stocks if I should choose one.

On the prowl for a stock to buy

Goodluck trading

[wrangler]

 I'll be doing a lot of updating this thread this weekend and possibly starting a new personal thread that has only my earnings plays to track and see how this trading system turns out to be.
I've been studying this for a while and trend players say that this is the best trend play there is so I'm trying to make this my #1 trend play and don't expect immediate results but hope to get better as time goes by.
Check back later for updates and maybe a new thread on earnings only and all is welcome to post their comments and will welcome any picks concerning earnings.
Goodluck trading to all

[wrangler]

 

[wrangler]

Prospects for the Stocks and Housing Market

[wrangler]

HL : Hecla Mining Com.
Hecla Mining Earnings Call scheduled for Thu, Nov 8
CCBN (Sat, Oct 27) 
This stock is setting close to it's high and if it was to break above 9.75 it would be a major breakout and could possibly happen on earnings. Golden Crossover has happened,,RSI turning up and MACD heading higher.
I don't own shares but hope if it does it will help lift shares of KRY since they are in the same sector.
Each quarter this year has been higher then previous quarter and hold 0 debt

[wrangler]

Does anybody trade Shell stocks.
Here's an example of one being played right now.
ECFL : Ecarfly,Inc.,,See chart att.,The object of this play is to try and get in brfore reverse merger is annouced, Now this play will depend on CC if the SEC will approve merger if it does this stock should move up.
• Market 99 Updates Shareholders via Upcoming Conference Call
Marketwire (Thu, Nov 1) 
• Market 99 Completes Reverse Merger
Marketwire (Wed, Oct 31) 
• ECFL Officially Changes Company Name to Reflect Market 99, Ltd.
Business Wire (Wed, Oct 24) 

[wrangler]

Just wanted to post afew stocks with high short % of float. I'm trying to take a position in one tomorrow. If order gets filled I'll post that stock tomorrow night. Sometimes it's hard to go to work when you're trying to trade.
Ok, Here's a few for now,,but more is on it's way if you like watching these kinds of stock
UTSI :UTStarcom Inc.
Average Volume (3 month)3: 2,991,070
Average Volume (10 day)3: 3,466,520
Shares Outstanding5: 121.29M
Float: 98.86M
% Held by Insiders1: 11.76%
% Held by Institutions1: 90.20%
Shares Short (as of 10-Oct-07)3: 31.48M
Short Ratio (as of 10-Oct-07)3: 12.9
Short % of Float (as of 10-Oct-07)3: 27.80% 
Shares Short (prior month)3: 32.10M

USNA : USANA Health Sciences Inc.
Share Statistics 
Average Volume (3 month)3: 458,839
Average Volume (10 day)3: 239,750
Shares Outstanding5: 16.13M
Float: 8.07M
% Held by Insiders1: 53.83%
% Held by Institutions1: 82.80%
Shares Short (as of 10-Oct-07)3: 7.80M
Short Ratio (as of 10-Oct-07)3: 27.9
Short % of Float (as of 10-Oct-07)3: 105.00% 
Shares Short (prior month)3: 7.80M

TTWO :Take-Two Interactive Software Inc.
Share Statistics 
Average Volume (3 month)3: 1,672,500
Average Volume (10 day)3: 1,137,880
Shares Outstanding5: 74.04M
Float: 57.20M
% Held by Insiders1: 0.90%
% Held by Institutions1: 88.90%
Shares Short (as of 10-Oct-07)3: 22.18M
Short Ratio (as of 10-Oct-07)3: 23.2
Short % of Float (as of 10-Oct-07)3: 30.10% 
Shares Short (prior month)3: 23.66M

Goodluck trading

[bmarc4211]

Always a pleasure to read your thoughts and advice.  Thank you.  Any thoughts on GIGM heading into next weeks earnings?

[wrangler]

Always a pleasure to read your thoughts and advice.  Thank you.  Any thoughts on GIGM heading into next weeks earnings?

HI bmarc4211
Just got in from work and seen your post...Appreciate asking for my thoughts and advise but please never take advise from anyone when doing your trading. This is one risky adventure and one must be ready to assume the risk involved to do it.
I just had a big hit on one of my stocks worst hit I've taken for a while and now I'm gun shy from anykind of thoughts and advise.
If I was looking to trade in GIGM I would consider the past weeks sell off compared to how the stock has risen since breakout at the beginning of Oct.
The chart I attached will explain it more..
I hope you good luck if you decide to enter
One Golden Rule for playing the earnings is sell before earnings release,, it's easier to jump on board at the beginning then to jump off afterwards

[wrangler]

KALU : KAISER ALUMINUM CORP
This will be paper trading for my first earnings play. Their has been insider and institutional buying in the last quarter. Also was upgraded by Bear Sterns on Oct. 3RD and is now trading in the quiet zone as I call it and will wait for resistance line to be broken to enter and will use stop loss.
If you decide to play this do your own DD and TA based on your own decision
Remember I'm only paper trading. This is still in the learning stage
Earnings according to yahoo is Nov. 14TH sometimes their not accurate with their dates

As you can tell by new chart att. resistance line wasn't broken for the buy and has fallon since. Will be interesting to see how this will work out for earnings. Is M&M's using scare tactics to get weak hands to sell before earnings or is this a true indicator of what investors is thinking that their earnings will be.
Will find out Wed.
Could become a possible play for fading the gap up or down...Up for the bears, down for the bulls

Looks like is was good manipulating by M&Ms on this one
• UPDATE - Kaiser Aluminum profit climbs 73 percent
at Reuters (Wed, Nov 14) 
• Kaiser Aluminum 3Q Profit Soars
AP (Wed, Nov 14) 
• Kaiser Aluminum Corp. net income up 77%
at MarketWatch (Wed, Nov 14) 

[wrangler]

For those who live close to Las Vegas or any others that might want to attend. Should be some good info.
http://www.lasvegastradersexpo.com

[wrangler]

 I have added 6 new penny stocks to the penny forum that I think has a chance to make some short term plays.
I have no positon in any of these. If you decide to play any,, do it based upon your own DD.
I'll track these thru-out the week to see how they did.
CTUM
EWDI
APIO
SRSR
GTEM
UTUC

Some good reading I found over the weekend. I liked it and hope you do to.
20 GOLDEN RULES FOR TRADERS

Want to trade successfully? Just choose the good positions and avoid the bad ones. Poor trade selection takes a heavy toll as it bleeds your confidence and wallet. You face many crossroads during each market day. Without a system of discipline for your decision-making, impulse and emotion will undermine skills as you chase the wrong stocks at the worst times.

Many short-term players view trading as a form of gambling. Without planning or discipline, they throw money at the market. The occasional big score reinforces this easy money attitude but sets them up for ultimate failure. Without defensive rules, insiders easily feed off these losers and send them off to other hobbies.

Technical Analysis teaches traders to execute positions based on numbers, time and volume.This discipline forces traders to distance themselves from reckless gambling behavior. Through detached execution and solid risk management, short-term trading finally "works".

Markets echo similar patterns over and over again. The science of trend allows you to build systematic rules to play these repeating formations and avoid the chase:

1. Forget the news, remember the chart. You're not smart enough to know how news will affect price. The chart already knows the news is coming.

2. Buy the first pullback from a new high. Sell the first pullback from a new low. There's always a crowd that missed the first boat.

3. Buy at support, sell at resistance. Everyone sees the same thing and they're all just waiting to jump in the pool.

4. Short rallies not selloffs. When markets drop, shorts finally turn a profit and get ready to cover.

5. Don't buy up into a major moving average or sell down into one. See #3.

6. Don't chase momentum if you can't find the exit. Assume the market will reverse the minute you get in. If it's a long way to the door, you're in big trouble.

7. Exhaustion gaps get filled. Breakaway and continuation gaps don't. The old traders' wisdom is a lie. Trade in the direction of gap support whenever you can.

8. Trends test the point of last support/resistance. Enter here even if it hurts.

9. Trade with the TICK not against it. Don't be a hero. Go with the money flow.

10. If you have to look, it isn't there. Forget your college degree and trust your instincts.

11. Sell the second high, buy the second low. After sharp pullbacks, the first test of any high or low always runs into resistance. Look for the break on the third or
fourth try.

12. The trend is your friend in the last hour. As volume cranks up at 3:00pm don't expect anyone to change the channel.

13. Avoid the open. They see YOU coming sucker.

14. 1-2-3-Drop-Up. Look for downtrends to reverse after a top, two lower highs and a double bottom.

15. Bulls live above the 200 day, bears live below. Sellers
eat up rallies below this key moving average line and buyers to come to the rescue above it.

16. Price has memory. What did price do the last time it hit a certain level? Chances are it will do it again.

17. Big volume kills moves. Climax blow-offs take both buyers and sellers out of the market and lead to sideways action.

18. Trends never turn on a dime. Reversals build slowly. The first sharp dip always finds buyers and the first sharp rise always finds sellers.

19. Bottoms take longer to form than tops. Fear acts more quickly than greed and causes stocks to drop from their own weight.

20. Beat the crowd in and out the door. You have to take their money before they take yours, period.

-Author Unknown