Technical Setups For New Long Positions: STMP, VHC, OPTR

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Technical Setups For New Long Positions: STMP, VHC, OPTR by Michael Kudrna | This entry was posted on Wednesday, September 14th, 2011 and filed under Stock Market Comments Off

Per the recent trade of the week shopping list, we have initiated some more long trades this week for the first time in a while. It is great to finally start using some technicals once again and creating trades in stocks rather than indexes.However, the action can change very quickly as the market is still not entirely healthy. Therefore, I’m keeping stop losses tight and positions smaller than usual for now all while taking profits quicker than usual as the market can swing violently from morning to afternoon. A market pullback after the past few days is not unlikely, but let’s see if we can knock out some more long trades first before that happens. If it does, you can expect me to jump back into my short position via going long ProShares UltraShort Russell2000 (TWM).

Stamps.com Inc. (STMP) – Initiated 9-13

StockTalk to Initiate Position

Trade Details On Forums

VirnetX Holding Corp (VHC) – Initiated 9-14

StockTalk to Initiate Position

Trade Details On Forums

Optimer Pharmaceuticals, Inc. (OPTR) – Initiated 9-14

StockTalk to Initiate Position

Trade Details On Forums

As always, do your own homework to see if you agree. Good luck out there.

Mike

At the time of publication, Kudrna was long STMP, VHC, and OPTR but positions may change at any time.

CURRENT PORTFOLIO AS OF 9-13

(TWM: 35.10 0.00 0.00%, vol: 0, avg vol: 2,375,110, 50-day: 31.34, 200-day: 34.77, yield: N/A, cap: N/A, short ratio N/A, 52wk: 28.37 – 66.58, 1yr target: 0.00)

(VHC: 28.98 0.00 0.00%, vol: 2,941, avg vol: 947,106, 50-day: 25.78, 200-day: 24.05, yield: N/A, cap: 1.474B, short ratio 18.50, 52wk: 11.02 – 41.77, 1yr target: 50.00)

(OPTR: 14.80 0.00 0.00%, vol: 0, avg vol: 669,968, 50-day: 14.20, 200-day: 12.90, yield: N/A, cap: 696.4M, short ratio 13.20, 52wk: 6.81 – 17.95, 1yr target: 19.67)

(STMP: 24.62 0.00 0.00%, vol: 0, avg vol: 406,469, 50-day: 27.74, 200-day: 27.74, yield: N/A, cap: 400.1M, short ratio 3.90, 52wk: 11.64 – 33.73, 1yr target: 35.00)

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CMHTraders

(Thursday, May 10. 2012 11:16 AM)

No one jumping the bids today… so no sense of excitement. From the sell side you see large block orders come in on the limit and sellers can’t front run them fast enough. A lot of it might have to do with the punishment that has been doled out to any stock who even thought about posting a weak guidance. Seeing high PE stocks that were the next “it” taken to the wood shed to be slaughter for 50% in a day shows how bloated we were at the top. This is not remotely the market I pictured today. After such a sound beating one would think bulls would be value hunting. The only stocks show relative strength are the market leaders with low PE’s… and even they aren’t up big. This price action makes me think that 1343 was just a support breach, not a firm bottom that one could trade against.

[reply]

Michael Kudrna

(Wednesday, May 9. 2012 12:35 PM)

For CMHTraders – I’m prepared this summer for bad trading and keeping higher levels of cash than usual. Europe situation as you noted and the fear of another US Debt Downgrade/Debt struggles, among others.

[reply]

CMHTraders

(Wednesday, May 9. 2012 8:29 AM)

Remember a few years ago? The Euro currency gets pounded and our markets nosedive? The Euro rallies and we shoot up? Looks like that trade is reemerging with vengeance. The Euro is FIRMLY weaker here….

[reply]

CMHTraders

(Wednesday, May 9. 2012 8:18 AM)

AAPL/AMZN: I was able to cover my AMZN short near the lows yesterday and enjoy a rebound towards the close into which I re-initiated the short. This trade is acting more as a hedge against AAPL than a true pairs trade but I still stand by the thesis. These are the only two positions that I have on pre market.

[reply]

CMHTraders

(Wednesday, May 9. 2012 8:11 AM)

Euro back in the headlines. We really don’t have any of our own macro data to dig us out of the whole so buyers will have to step up to reverse the loss. Yesterday we got a turn after lunch. I wouldn’t look for that turn today if the markets violate yesterday’s lows. Bonds are approaching record highs… The problem is that indicator has diverged so much it’s tough to call a top. We were trading at these levels back in September but the market and volatility was infinitely higher. Should the market return to those levels both on a volatility level and absolute value level where are bonds supposed to go? Zero? The 10 year is already trading below inflation rate…. I wouldn’t listen too much to the chatter about bonds MUST come down. Some of the twits saying that are the same ones saying that there must be more QE. Which is akin to having your cake and eating it too.

[reply]

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