Friday, August 10, 2007

Trades: MS, AAPL, NOV and CROX

I covered my entire 800 share MS short, half yesterday at $63.05 and half today at my target, $60.10 (average entry price was $65.89). That comes out to a $3455 gain (+6.4%).

I have not unloaded CROX yet, despite currenly being about 5 points down (-$2000). I've decided to use a very loose stop, just under the 50 day moving average. The potential loss is bigger than originally calculated, making for a crummy reward to risk ratio. I rarely make this kind of move, but there is strong support at the new stop level.

I bought 150 shares of AAPL at $121.75. Technically, the stock looks broken. However, take a look at the price by volume bars on the chart. There is a lot of support here, so I expect a bounce.

I bought 200 shares of NOV at $109.64. The stock i still holding at the moving average, and again there is a lot of support at this level.


Anonymous said...

hi singh

My take on the AAPL purchase is not very positive, I see a broken chart with no immediate support unless we close above todays high.However I have to agree with you on NOV ,it looks like a good entry to me.


Anonymous said...

hi singh

I have taken a position in BOOM @44.70.Whats your take on it?Thanks


The Market Speculator said...

I already sold my AAPL postion at $125.84. I was just looking for a short term bounce. There was too much support for the stock to breakdown without one.

BOOM is on my primary watchlist. In fact, when I made my ZUMZ post last night, I almost added BOOM. It's always risky entering a stock that's down 4 percent, but it hasnt' broke down below the breakout point yet, so that's good. Lots of support at $44 (breakout and price by volume), so I'd place my stop under that level.

Anonymous said...


I got stopped out of BOOM. I will be a buyer again in the low$41 range.My mistake was , yesterday I watched the stock all day,and despite market weakness, it was extremely strong,thats why I took a position today.On another note I did enter long in GRMN @98.55. Is that one on your screen.Thanks


JJ2000426 said...

You MUST pay attention when something is so extremely volatile! Bush's people are on board this stock, if you follow the link on paragraph 4. Is the neocons responsible for this?

SWC is incredibly volatile! Hammered down half from the $16.47 high in just three months, Bottomed at the $8.03 on this Tudesday before the earnings conference call, immediately rallied HUGE next day to high of $11.04 and settle for a 20% gain at $10.40, flat on thursday, Rallied Friday moring to high of $10.84 and then plummeted to the low of $8.38!!! Such a stock with extremely narrow floats traded on huge volume and huge swings up and down. I bet you never saw anything like that!!!

It's a swing trader's PARADISE! I would guess most day traders would LOVE to see such volatility. Such huge daily swing creates huge profit potentials if you can do it right.

This is an incredible stock worth paying attention to. Spend your weekend study it. Maybe you can swing trade and get a quick 20% out of it in one day! And tell people about this interesting stock.