Archives: 2002 Feb Jan
2001 Dec Nov Oct Sept Aug Jul Jun May Apr Mar Feb Jan
2000 Dec Nov Oct Sept Aug Jul Jun May Mar Apr
Will try to show "interesting" stocks from a charting viewpoint. The type will vary and often won't be stocks to buy immediately. But they are 'interesting' and may show potential.
2/28 Thu 0%
S:GILD 71.18 ADLAC 22.45 BFRE 1.40$=30%
I still love GILD but figure it is one of the stocks being marked up today for the end of the month. Volume was drying up so I dumped it at what became a lower low. I'll look to reposition into it next week sometime. Been a while since I saw something with a profit and this one was 21%. ADLAC was approaching resistance. Will look for it lower. If it had good volume on this move I would have kept it.
Strong BFRE selling below the bid at about 1:10. Looks like they want it off their books and that will create a lot of overhead dumping. Looking to get out of the BFRE trading position ASAP. Probably Monday. OOPS, the issue is confused with most of it being replaced at 1.36--.06 higher than those selloff and above the ask. Well, it popped up to 1.40 so I cashed out at the asked which happened instantaneously.
The Queen talked about her "Annus Horribilus"...well, yesterday was a diam horribilus. I left about 2% ahead and got back with things in the hole. With these kinds of dramatic fluctuations being the norm, it is easy to see why people run like hell when they see a down tic. I can't see where the shorts can be doing any better than the longs. This is a horrid market.
2/27 Wed 1.8%
2/26 Tue 1.2%
B: BFRE 1.32
Doubled down on the BFRE at yesterday's low.
Yesterday the market had a nice day and I sure didn't. Biotech didn't perform well and BFREE dove and allowed me to buy it at a support area for a trade. Hopefully, today will have things improving for the stocks I own.
2/25 Mon 3.7%
B: BFRE 1.38
Bought as a trade.
2/22 Fri 0.7%
2/21 Thu 1.9%
2/20 Wed 2.1%
B: ADLAC 20.06
Bit of bottom fishing in the cable area. Nice article on it on The Street which made some sense to me. Cable was painted with the telecom brush and is the area that can make inroads against such stocks.
2/19 Tue 1.9%
President's Day kept the markets close Monday. Opening looks to be weak. That's a change and hopefully we can see something positive later in the day.
2/15 Fri 0.0%
2/14 Thu 3.1%
S: CEGE 17.16 $=19%
Sold the CEGE I bought last week at 15.15. Biotech isn't dead but its rally was halted pretty dramatically yesterday.
BFRE killed me yesterday as it reported it wouldn't make goals. HGSI report looked ok to me but it has been hurt too today.And CYGN is deadly for me as it placed new shares at 3.50 and that was about a buck and change below where it had been a day or so ago. That's a bit of a stunner. So I'm hurting this morning again.
2/13 Wed 4.3%
S: BFRE 1.73 CYGN 4.30
Took the gas on BFRE (.33) and the profit on CYGN (.50)
Saw some volume improvement to support the up market status of my biotech holdings. Biotech certainly isn't out of the woods but it is nice to see one of the leader sectors lead.
As a negative, BFRE had a lousy report and projection. It looks like I'm going to take losses on the trading position. Still like the long term potential of this one but it looks like it get a bruising today. It was very lightly traded the last few days and this could get nasty. I wont sell the open but it might be one of those stocks where I should. On the good side STMP had a nice report and the light trading it it yesterday could make it pop. Sadly it is a small position.
2/12 Tue 3.7%
Again, only a couple of my stocks had decent volume. Again, the NYSE continues to have better internals than the Nazdaq. Futures are down this morning and I don't see the early trading as a time to even think about added positions
2/11 Mon 2.6%
What was missing from my stocks was great volume. For some it was even decent volume. The vote for a rally is still out. I doubt it can be a lot more than a bounce.
2/8 Fri 4.5%
B: CEGE 15.15 CYGN 3.80 $=6%
Averaged down as biotech sector seems willing to continue the rally. Bought the CYGN on the sudden collapse.
2/7 Thu 1.8%
2/6 Wed 2.9%
Well, things seem to be going to hell in a hand basket. All the Biotechs are nicely up in the pre-market. Been there; watched it eat my shorts. So, does the market now reverse from disaster or continue down. The scary part is the space between the currently broken support and the next support levels.
2/5 Tue 1.9%
B: BFRE 1.98 $=13%
Didn't want to reduce cash but the opportunity was there to average down and get decent position. If it rallies into the close I might be gone. My BFREE position was the one stock for the day keeping me in the red. Without it I'd have been in the green. Just why I'm adding here is a question still in my mind. With Biotech and the SOX having a decent day for a change, I guess I was more adventuresome. Heck, the darn banks might even eke out a gain today. I still think of this as a trading buy though and would look to add cash.
Bloody day with everything down. Seems too low here to sell. Seems too painful to hold.
2/4 Mon 4.9%
Futures are off and things look to open lower. That just might be a buying opportunity but I'll stick with my low amount of cash here. Although, I'm tempted to start back into the SOX a bit. If Goldman hadn't upgrade the sector today, I think it might have built a bit better opportunity. I was hoping for KLIC at 13 and it looks like it won't happen for now.
The VIX and VXN are too low for a good rally but not too low for a trading bounce.
2/1 Fri 0.5%
S: BFRE 2.409
Put the rest of the trading pieces with Island at the above price. It has been piecing it out and I've sold a bit over half of the placement at this point. Datek/Island is a nice place to do these kinds of things. The placement was 2000 and the instruction was to only show 200 at a time. The overall trade is netting about 11%. I still hold a larger position as a core holding. I'm selling on the still weak volume and would buy back lower for a trade.
A lot of charts show capitulation is likely to have happened on Wed. A lot of charts confirmed this on Thur. The thing missing from some of my looks is volume which is all over the place. It wasn't a situation where the tide lifts all boats.
One of the reasons I let go of the second piece of BFRE yesterday was its volume.
GILD had a very negative day yesterday; even with the 2:1 split announcement and improving sales and revenue. As a biotech with strong research and 3 products approved, it is one of those stocks I'd like to look at as a core holding. As a trade it looks a bit bleak here. It hasn't held close to its highs on many days of late and zig-zagged a lot. Yesterday, it did a downward reversal. What to do?
The NYSE had great a:d action; the Comp was so-so. It is Friday and I wouldn't be surprised by a down day here. The question here is was the movement to this point strictly markups or was it serious? With the VIX down, it is hard to envision a serious up move here.