If you were a huge Yankees baseball fan with no obligations and plans to go to sleep on a Friday night but were given free box seat tickets three hours before game-time to a Red Sox-Yankees game, you probably would make the effort to get out to Yankee Stadium. If you were a theater buff and you had plans to go out with a friend to a dinner but said friend received tickets to a Broadway show, you’d both go to the show. Even more specifically, if you really really really wanted tickets to either the game or the Broadway show, you’d be aggressive about it in trying to obtain the tickets from the Internet or the phone rather than just hoping a random friend comes up with them. Sometimes the hope comes to fruition, but usually when you’re not doing what you’re supposed to do, you miss out on the good opportunities by not being aggressive in doing what it is you are supposed to do. Such is the case with trading. It astounds me that when one is trying to trade for opportunities to make at least 20 cents easily in time that one would waste time looking at shares of things like Parametric Technology (PMTC) – a stock with a range of about 40 cents on the day- when things like GS and AAPL were flopping around in point increments while opportunities to make at least 20 cents relatively easily abounded in things like UIS, AIG, and PNC. This principle applies to all types of trading. Why hone in something that may work a little when one can do something bigger within any style of trading one wants to do? Time really is money. If you are staring at something that has next to no chance of working- and even if it does, it won’t provide a lot of benefit- you are simply keeping yourself from making a living. Thus, no matter what type of trading you do, make sure you focus on the true opportunities rather than spinning your wheels in wasting your time and money.
Markets in Asia were generally lower overnight with Hong Kong down about 0.8%. However, there was a distinct trend shift in Europe as hopes for a Greek bailout renewed themselves following statements from the German government with the bourses trading generally higher to the tune of about ¾%. Oil is nicely higher anew again with the euro gaining a bit of strength. Look for the market’s gains to hold pending anything major out of Europe. Focus on the myriad of earnings out there and trade aggressively off of news as long as the market remains somewhat stable.
Reiterating-
If the whole story is not there -
If something is good, assume either a short thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified.
If something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified-
Good- The following stocks have good news and/or a strong technical pattern
CLF- good earnings
BIDU- phenomenal earnings
FSLR- great earnings
AKAM- great earnings
FTI- good earnings
OIS- good earnings
IRBT- great earnings
TSRA- good earnings
BEC- good earnings
OKE- good earnings
CPNO, MSO- mentioned on “Mad Money” last night
GS- closed near a high
SHPGY- decent earnings
PDE- decent earnings
AZN- decent earnings
AET- good earnings
CELG- good earnings
CNX- good earnings
IMAX- good earnings
IP- good earnings
LZ- good earnings
NIHD- good earnings
OMX- good earnings
OSK- good earnings
HOT- decent earnings
BWA- decent earnings
BMY- decent earnings
Bad-The following stocks have bad news and/or a weak technical pattern
HPQ- acquiring PALM for 5.70 in cash
OPWV- terrible earnings
ETFC- share offering
SNV- share offering
ESRX- poor earnings
V- poor earnings
VAR- poor earnings
VRSN- poor earnings
WLT- poor earnings
XLNX- poor earnings
GMCR- terrible earnings
ALL- poor earnings
LNC- poor earnings
OII- poor earnings
RYL- poor earnings
SKX- poor earnings
OI- poor earnings
CERN- poor earnings
CVD- poor earnings
RDN- closed near a low
UIS- closed near a low after reporting earnings
AOL- closed near a low after reporting earnings
PPL- closed near a low after announcing acquisition of a German entity for $7 billion plus
OXY- poor earnings
CAGC- share offering
EK- poor earnings
PG- poor earnings
POT- poor earnings
PCBC- terrible earnings
XOM- poor earnings
Earnings:
THURS APR 29 BEFORE
AEP AET APA
AVT AZN BC
BDX BMY BWA
CAH CAM CELG
CL CME CNX
D DLR EK
ETR FO HAR
HOT HP IMAX
IP IPG IRM
K KBR LZ
MJN MOT MRO
MYL NBL NIHD
NRG OCR OMX
OSK OXY PDE
PG POT PTEN
RAI SHPGY SWY
TEN TWC UTHR
VCI WM WY
XEL XOM XRAY
THURS APR 29 AFTER
ACS AEM AMCC
AMX APKT CQB
CSTR DRIV ELY
EXPE GNW GPRO
HGSI HIG ITMN
JAH KLAC MET
MFE MHK MWW
MXIM QLGC RSG
SPWRA SQNM SUN
SWKS SWN TRMB
TSO VSEA WFR
WYNN
Good luck today.
Epiphany Trading, LLC
www.epiphanytrading.com
Erik R. Kolodny- Chief Markets Strategist
Brendan P. Byrne- President
Joseph R. McCandless- Managing Partner
D. Timothy Seaquist- Managing Partner
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