The Feast Of St. Slim Jim
Yesterday
is what I call a Feast of St.
Slim Jim Day. Between the feeding frenzy for many of these volatile techs and
expiration, you had many afternoon Slim Jim Explosions. If you were scrolling
for them and took some of them, you are obviously a happy camper today. Some of
the Slim Jims yesterday from our regular culprits were:
(
NEWP |
Quote |
Chart |
News |
PowerRating),
(
VRTS |
Quote |
Chart |
News |
PowerRating),
(
QCOM |
Quote |
Chart |
News |
PowerRating),
(
BEAS |
Quote |
Chart |
News |
PowerRating),
(
BRCD |
Quote |
Chart |
News |
PowerRating),
(
JNPR |
Quote |
Chart |
News |
PowerRating), and
(
MERQ |
Quote |
Chart |
News |
PowerRating).Â
Before Slim Jim time, we
got off to a great start with Opening Reversals in
(
JNPR |
Quote |
Chart |
News |
PowerRating) and
(
CIEN |
Quote |
Chart |
News |
PowerRating)
and an early first consolidation breakout to new intraday highs from
(
VRTS |
Quote |
Chart |
News |
PowerRating).
Sorry I can’t show you the charts but our Los Angeles office is having a DSL
problem and that’s where my charts get done. It should be good to go next week.
This has been a great run
so far, with mercurial moves in the ex-Chosen Ones that we have focused on.
There have been a minimum of 100% moves in the following stocks over the last
eight to 10 days: JNPR, CIEN, BEAS, CHKP, MUSE, JDSU, MERQ, NEWP, VRSN and SEBL.
I am sure you know many more of them but these are from our daily scrolling list
because of their daily travel range, and they usually provide continuous daily
setups long or short, regardless of what the major averages are doing.
For many of you who have
talked to me directly on the longer-term position play and IRA-type accounts, we
now own the NDX at the equivalent of approximately 1265 vs. last night’s close
of 1953. For those who have bought back the 55 and 50 calls and made another
sale the last few days, you are even stronger. As
I am still affiliated with a broker dealer, I can’t give unsolicited investment
advice, just educational material to help you in your trading decisions but if
asked directly, I can explain the what and how of it, as we did recently.
Stocks
Today
|
(June
|
||
|
Fair Value
|
Buy
|
Sell
|
|
6.75
|
 8.20 |
 4.80Â
|
Long or short, whichever
sets up, we have an extended move, we have expiration today and there are many
air pockets just below, so the first names on our scroll list will be the ones
that have doubled the past eight to 10 days:
(
JNPR |
Quote |
Chart |
News |
PowerRating),
(
CIEN |
Quote |
Chart |
News |
PowerRating) (both of
which had significant price increases yesterday and a drop off in volume),
(
BEAS |
Quote |
Chart |
News |
PowerRating),Â
(
CHKP |
Quote |
Chart |
News |
PowerRating),
(
MUSE |
Quote |
Chart |
News |
PowerRating),
(
JDSU |
Quote |
Chart |
News |
PowerRating),
(
MERQ |
Quote |
Chart |
News |
PowerRating),
(
NEWP |
Quote |
Chart |
News |
PowerRating),
(
VRSN |
Quote |
Chart |
News |
PowerRating) and
(
SEBL |
Quote |
Chart |
News |
PowerRating).
Also, from the same league:
(
VRTS |
Quote |
Chart |
News |
PowerRating),
(
QCOM |
Quote |
Chart |
News |
PowerRating), SANM,
(
CMVT |
Quote |
Chart |
News |
PowerRating),
(
BRCD |
Quote |
Chart |
News |
PowerRating) and
(
ADBE |
Quote |
Chart |
News |
PowerRating).
In the Semis:
(
NVLS |
Quote |
Chart |
News |
PowerRating),
(
KLAC |
Quote |
Chart |
News |
PowerRating) and
(
AMAT |
Quote |
Chart |
News |
PowerRating) all at new levels out of bases, along with
(
NVDA |
Quote |
Chart |
News |
PowerRating).
Three other Semis that should get some continuous institutional play both ways
are
(
MU |
Quote |
Chart |
News |
PowerRating),
(
TER |
Quote |
Chart |
News |
PowerRating) and
(
AMD |
Quote |
Chart |
News |
PowerRating).
FYI, if any of you who
check the S&P 500 and NDX 100 screens on the site every day, I have
contacted the Los Angeles office on the problem. The CR1 column you are getting
data from April 17; on the percentage increases column you are getting data from
April 16; but on the default to the volume column you are getting April 19 data,
so you can get your work done in all three ways. The
office has been notified of the problem and they are working on it.
Have a good trading day.