This Is My Favorite Trade

This Is My Favorite Trade

Every morning before the open, I scan the
news to see what’s likely to be moving for the day. I compile these into the
column “TradingMarkets’ 10 Stocks You Need To Know About Today” column,
which is posted about 45 minutes before the open. Sometimes you’ll find these
stocks gapping one way or the other on the open. This was the case today with
Biomira

(
BIOM |
Quote |
Chart |
News |
PowerRating)
, which released some very positive news about one of its
drugs. Automatically, this stock goes on my watchlist, not to buy on the open,
but to look for a pullback and then a good entry point. My favorite time to
enter these is between 9:45 AM–15 minutes after the open. The market makers and
specialists have had some time to make a little money back off the gap and often
you’ll see the trade move back in the direction of the opening gap. This is
exactly what happened with BIOM on Friday morning. Learn to spot these, and then
pick your entry spot, and hang on. Sometimes you’ll get stopped out with a small
loss–but other days you’ll be riding a stock like this.

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Big Cap Earnings Announcements for the
Week of
Dec 6th


Company

Symbol

Date
Navistar International NAV Monday, Dec 6
Photronics PLAB Tuesday, Dec 7
The Kroger Co. KR Tuesday, Dec 7
Autozone AZO Wednesday, Dec 8
Dave & Busters DAB Wednesday, Dec 8
Ciena CIEN
Thursday, Dec 9
Costco COST
Thursday, Dec 9
Martek
Biosciences
MATK
Thursday, Dec 9
National
Semiconductor
NSM
Thursday, Dec 9
Toll Brothers TOL
Thursday, Dec 9

Scheduled Stock Splits for the Week of
Dec 6th



Company

Symbol

Ratio

Payable

Ex-Date
Cheesecake Factory CAKE 3-2 Dec 8 Dec 9
Badger Meter BMI 2-1 Dec 10 Dec 13
Golden West GDW 2-1 Nov 10 Dec 13

 

Need more splits information? Click
here.

Upcoming Economic Events for the Week of
Dec 6th

Date ET Release For Consensus Prior

Dec 7 8:30 am Productivity (Revised) Q3 1.9% 1.9%
Dec 7 3:00 pm Consumer Credit Oct $6.3B $9.3B
Dec 9 8:30 am Export Prices (Ex. Agricultural) Nov NA 1.0%
Dec 9 8:30 am Import Prices (Ex. Oil) Nov NA 2.7%
Dec 9 8:30 am Initial Jobless Claims 12/04 NA 349K
Dec 9 10:00 Am Wholesale Inventories Oct 0.6% 0.5%
Dec 10 8:30 am Producer Price Index Nov 0.2% 1.7%
Dec 10 8:30 am Core PPI Nov 0.2% 0.3%
Dec 10 9:45 am Michigan Sentiment Index Dec 95.3 92.8
Dec 10 2:00 pm Treasury Budget Nov -$53B -$43B

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Have a great weekend!

Brice


P.S. Stay in touch with the latest happenings at TradingMarkets.com.
Check

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