Category Archives: DAY TRADING

TNA sold for 18.7% profit and AGU sold for 10.7% profit …. No Picks for Friday

I did not spend much time following the markets today … As I informed you in my earlier post that I was busy taking care of my other business interest in agriculture (ZeaMax Research) …. So, I will not provide market recap, but will straight proceed to discussing TaurusTrader portfolio.

It was a great Thursday for TaurusTrader portfolio.  AGU hit its profit target ($41.50) for 10.7% profit.  AGU was bought on 3/19/2009 for $37.50 a share. 

TNA was even better …. it made 18.7% profit in less than 2 weeks.  TNA was bought on 4/02/2009 for $20.05 a share, and sold today for $23.80. 

TNA and AGU make  five trades closed for profit this week.  Other positions closed were – CMED, AMR and XRT.  XRT  however, was stopped out, but the trade was still profitable!

TaurusTrader swing portfolio currently consists of – WNR, AMR (50%), FCN, HON, HSP, WDC, EXP, FMX, and GNK.  All the picks advanced today!  Incredible!!!

Tomorrow is option expiration day …. too much volatility is expected.  So, I’ll wait till next week for new picks.   PATIENCE PAYS …..

Have a great day and a superb weekend ….  If you had invested with me, you have already assured yourself a fantastic weekend!!!  

TaurusTrader

http://www.taurustrader.wordpress.com

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Stocks to Focus for Thursday – April 16, 2009

Wednesday’s recap:  What a mad dash to finish …. Stocks surged in the last hour before closing, lifting all three major indices from deep red to green.  

The last-hour surge pushed the Dow up 109 or 1.4%  to 8030.  The S& P 500 index rose 10.6 points  or 1.3%  to 852, and the Nasdaq snuck in to green with a final minute thrust and edged up 1.08, or 0.1% to 1627.   Crude 16 cents to settle at $49.25 a barrel, while gold was down $1.50 to $893.50 an ounce.

The impetus for the final hour turn around was provided by the observation in Federal Beige Book that economic contraction may be slowing down.  The market interpreted this as ‘the end is closer’ ….

TaurusTrader portfolio had a decent day.  AMR was one of the stars in today’s rally, hit it’s first target of $4.85 for a profit of 31.1%.  50% position in AMR was closed today.  For the remaining 50%, the second target is $6.50.  XRT was stopped @ $24.60 (stop moved up once), but still made over 1% profit.  AGU again came very close to hitting the profit target for the second day in a row.  FCN, HON, and EXP had decent gains.

Picks for Thursday, April 16:  An increasing stream of quarterly results from companies is likely to add to the market’s volatility.  Reports from JPM andGOOG on Thursday could reshape how investors feel about the financial and technology industries. Figures are also due on home construction and unemployment claims.

I’ll wait for reports from JPM and GOOG before committing fresh money on new picks.  However, if JPM reports a great quarter, and the market responds positively, I would buy FAS (Financial 3X long ETF) at around $9.50, and hope to ride the momentum till it hits $11.60.

I’ll also have following stocks on my radar for any swing trading opportunities:  WFC, MS, MELI, IPI, HP, TCK, and BX

That’s it for now …. Good luck trading.
TaurusTrader

http://www.taurustrader.wordpress.com

Patience Paid off …. AMR nets 31.1% Profit …

Patience paid off with AMR ….

AMR has hit its first profit target of $4.85 this morning.  TaurusTrader liquidated 50% of position in AMR for a nice profit of 31.1%.  If you remember, AMR  was bought at $3.70 and added to TaurusTrader portfolio on March 16.

The second target for the remaining 50% of AMR is $6.50. 

AGU is very close to hitting its target @ 41.50 …. Hopefully, we would be able to close it before the end of the day!

Happy trading …

TaurusTrader

http://www.taurustrader.wordpress.com

Stocks to Watch for Wednesday – April 15, 2009

Tuesday’s Market Recap:  Markets pulled back responding to unexpected poor retail sales data and also on worries about banks ahead of key earning reports.  Markets were in extremely overbought condition, and in my opinion, this pull back was needed. 

For the day, Dow lost 138 points or 1.7%, to close at 7920. The S&P 500 lost 17 points or 2%, to 841, while the Nasdaq shed 28 points or 1.7%, to 1626.   Crude fell 64 cents to settle at $49.41 a barrel, and gold lost $3.80 to $892 an ounce.

Financials led the stock market lower on Tuesday as investors brushed off an upbeat earnings by GS and focused on disappointing economic data.  Retail sales for March came in at -1.1%, far below the expected, a 0.3-percent increase.  Excluding the autos, sales fell 0.9%.  January and February sales figures were, however,  revised upward.  Still, the unexpected sharp drop spooked the market.  Meanwhile, the PPI dropped 1.2%.  Excluding food and energy costs, core PPI was flat.  Business inventories dropped 1.3% in February as expected.

A spirited speech by President Obama explaining the origin and nature of the economic crisis, and an all out effort by the administration to grow the economy – could not inspire the markets.  Similarly, Ben Bernake’s speech was also ignored despite his observation that “the economic decline is slowing down off late”

TaurusTrader portfolio closed a position for profit and added a new position.  CMED hit the profit target of $18.60 in the morning for a 12.9% profit.  AGU and AMR came very close to hitting target before retreating. Very volatile  TNA lost about 10% for the day.  Today’s pick, GNK was bought at $15.67.  The other pick, FAS did not activate the buy limit, hence was not bought.

Focus list for Wednesday:  Earnings and economic data will be the center of focus again on Wednesday.  INTC reported earnings of 11 cents a share after the close on Tuesday.  This beat the street expectation handily, but the shares were down in after-hours trading as the chip giant refused to provide an outlook.  The rail-road giant, CSX was up over 3% in the after hours trading following it’s better than expected earnings report.

On the economic front, the scheduled events for Wednesday include:  Weekly mortgage applications; NY Fed Empire State survey; CPI; industrial production; weekly crude inventories; NAHB housing index; Fed’s beige book.

Markets are still in a flux …. It is hard to predict the short term direction.  TaurusTrader portfolio has 12 open positions, and is well diversified.  I’ll be watching my positions with tight stops.  I do not want to risk more capital on new positions.  I’ll be happy to watch from the side lines, at least for now on Wednesday.

If there are questions, please do post ….

Happy trading …

TaurusTrader
http://www.taurustrader.wordpress.com

CMED Hits Target for 12.9% Profit …. GNK bought.

CMED has hit the profit target this morning and sold @ $18.60 for a nice profit of 12.9%.  If you remember, CMED was bought at $16.48 and added to TaurusTrader portfolio on April 06.

Today’s pick, GNK was activated this morning and bought for $15.67 …. GNK is already up nicely and trading @ $16.13 now (10:10 am).

Market is down triple digits following a disappointing retail data.  Hope it will turn around before close!

Happy trading …

TaurusTrader

http://www.taurustrader.wordpress.com

Stocks to Focus for Tuesday – April 14, 2009

Monday didn’t turn out to be that bad.  Dow appeared to head deep south with over a triple digit loss by mid-day, but managed to turned it self around, and finally ended up almost flat.  Nasdaq and S&P managed to eke out a barely positive finish.  The trading volume was extremely low.

For the day, Dow lost 26 points or 0.3% to close at 8058.  The S&P 500 rose 2.17 points or 0.3%  to 859, and the Nasdaq barely unchanged at  1,653.

The IEA cut world oil demand forecast by 1 million barrels a day because of tough economic condition around the world.  It also said that the consumption might drop further if the world economy doesn’t recover soon.  On the heel of this news, crude fell $1.25 to settle at $50.05 a barrel.   Gold had a nice up day in a while and rose $12.50 to $895.80 an ounce.

TaurusTrader portfolio had a decent day.  CMED and AMR came very close to hitting the target.  None were stopped out.  All 12 positions have positive unrealized gains heading in to tomorrow’s open.

Tomorrow should be a very interesting day.  Surprisingly,  GS released earnings a day earlier after the markets closed on Monday.   GS reported  a quarterly profit of $1.67 billion, which was way better than the street expected.   GS also expressed its desire to raise $5 billion in a special offering to pay off the TARP money.  The good news from GS follows another positive surprise by WFC last week.  

Traders are also awaiting  results this week from key companies in other industries, including  INTC, JNJ, and GE.  Reports on inflation, housing and manufacturing are also due.

With a positive surprise from GS, the financials should see considerable activity at trading tomorrow.  I also would watch basic materials, minerals, and transportation sectors for positive price action. 

I would be looking to add the following positions to TaurusTrader portfolio:

  1. GNK – Buy above $15.67, stop at $13.70, target at $18.50
  2. FAS – Buy above $9.80, stop at $7.25. target at $11.50

Apart from these, I’ll also have the insurers, MET and AFL on my radar.  Other stocks of interest are – HP, IPI, BWLD, and PNRA.

That’s it for now …. have a great day trading!

Regards,

TaurusTrader

http://www.taurustrader.wordpress.com

Week Ahead for Stocks – April 13 to 17, 2009

The coming week is filled with market moving economic and earnings data releases.  It would be interesting to see whether the momentum built upon WFC preannouncement would continue with other positive earning releases.  29 of S&P 500 companies, including 5 Dow components (highlighted in bold) are scheduled to announce earnings.  I would be watching the following releases intently:

  • Monday: JBHT, TLB
  • Tuesday:  FAST, GS, JNJ,ADTN, CSX, INTC
  • Wednesday:  ABT, SCHW, INFY, LUFK, BTU, PGR, CCK, KMP, LSTR, LLTC, STX
  • Thursday:  APH, BAX, BGG, GPC, ITW, JPM, NOK, NVR, PH, PII, SON, LUV, TITN, VIP, BIIB, GOOG, ISRG, SNDK, TK, WERN
  • Friday:  AOS, BBT, C, GE

Economic data:  Following economic data releases are scheduled:

  • Tuesday:  March producer prices and Retail sales
  • Wednesday:  Consumer price index, industrial production data for March, New York manufacturing survey, and housing market index for April, Beige book, Crude inventories
  • Thursday:  Housing starts, Jobless claims, Philly Fed survey, and Natural gas report
  • Friday:  Consumer sentiment from the University of Michigan, and Ben Bernanke speaks

For details on economic data releases, please refer to:   http://online.barrons.com/public/page/barrons_econoday.html

TaurusTrader portfolio:  To begin the week, the portfolio contains 12 positions.  All 12 have positive unrealized gains and some have have substantial accumulated profits.  So, I’ll be moving the ‘stop loss’ limit on these picks to protect profit and to reduce losses if the market turns against us.  The new stops are noted in “bold” in the following table. 

Stock

Bought on

Entry price

Stop

Target

4/9 close

Gain/loss (%)

WNR

Mar 17

11.80

11.85

13.60

12.95

9.75

AGU

Mar 19

37.50

34.50

41.50

38.47

2.48

AMR

Mar 16

3.70

3.55

4.85

4.52

22.16

FCN

Mar 12

47.80

45.15

52.00

48.48

1.42

HON

Mar 24

29.01

28.50

32.40

31.04

7.00

HSP

Apr 02

31.41

28.60

35.50

32.15

2.36

WDC

Apr 02

20.10

19.98

23.00

22.11

10.00

TNA

Apr 02

20.05

18.50

23.80

23.10

15.21

EXP

Apr 02

25.50

22.75

28.50

26.51

3.96

FMX

Apr 03

27.08

24.50

30.50

27.89

2.99

CMED

Apr 06

16.48

16.03

18.60

17.84

8.25

XRT

Apr 09

24.28

24.60

26.78

25.65

5.64

I do not have any picks for Monday … I’ll wait for a day or two and see how this earnings season would roll out. Per my previous post, I’ll not be day trading.  hence, will not provide any day trade picks for Monday also. 

If there are questions or comments, please do post …..

Have a great week and happy trading.
TaurusTrader
http://www.taurustrader.wordpress.com