You Play You Pay
Wow, I missed out on some great moves
last week with me being on vacation. That call Brice made on shorting the
Biotech Holdrs
(
BBH |
Quote |
Chart |
News |
PowerRating) was good for almost 12 points that day and has
continued to descend lower in today’s trading. The price I had to pay when I
decided to play…
Thanks Brice for taking care of the
crowd while I vacationed down on the Vineyard.
Coming back from the Island has made
me a little sluggish today, as were the markets. Stocks which are showing some
constructive patterns.
Intuitive Surgical
(
ISRG |
Quote |
Chart |
News |
PowerRating) is
forming a handle to its 30 plus week cup. The medical instrument company has
been showing increasing sales quarter over quarter (53.2%, 36.1% and 13.1%) and
on comparative basis for the same quarter of the prior year (41%, 140%, 226% and
313%).
Circuit City-Carmax Group
(
KMX |
Quote |
Chart |
News |
PowerRating)
has formed a nice ascending symmetrical triangle on the daily chart.
 Looking at
the big picture on a weekly and monthly chart, KMX is forming a handle of a
multi-week cup.
Earnings for the car retailer has
increased on a quarter over quarter basis (71.4% and 108.3%) as did sales which
have increased (14.1% and 24.5%) quarter over quarter.
Ryan’s Family Steak House
(
RYAN |
Quote |
Chart |
News |
PowerRating)
is basing and looks poised to testing its old highs.
Looking at the Exchange Traded Funds,
the WEBS-Belgium Benchmark
(
EWK |
Quote |
Chart |
News |
PowerRating) moved higher in trading as the fund tacked
on 1.4%.
The Ishares DJ U.S Utilities Sector
(
IDU |
Quote |
Chart |
News |
PowerRating)
edged higher 1.1%.
Also etching out gains fractionally in
the session were the WEBS-Australia
(
EWA |
Quote |
Chart |
News |
PowerRating) which gained 1.0%, followed by the
Utilities Select Sector Fund
(
XLU |
Quote |
Chart |
News |
PowerRating) which rose .08%.
ETF’s trading to the downside were the
Oil Services Holdrs
(
OIH |
Quote |
Chart |
News |
PowerRating) which sank 7.1%
The Internet Infrastructure Holdrs
(
IIH |
Quote |
Chart |
News |
PowerRating)
lost 5.7%.
Closing in a tie by shedding 5.3%
each, were the Biotechnology Holdrs
(
BBH |
Quote |
Chart |
News |
PowerRating) and the Semicondutor Holdrs
(
SMH |
Quote |
Chart |
News |
PowerRating)
Remember that all securities are
risky. In any new trade, reduce your risk by adjusting position size and
placing open protective stops where you will sell your new buy or cover your
short in case the market turns against you. For an introduction to combining
price stops with position sizing, see Loren’s lesson, Risky
Business.
Â
Greg