Intraday/Swing Plays

Originally posted by dstod
Picked up a bunch at $17.35


Bio's have sold off hard the past couple of days. Looking to unload in the next few days between 18 and 19.

Any thoughts on a bio spike in the coming days?
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IMO-

I would be very careful with that or any Bio stock right now. BBH is setting new lows on a 4 month chart. HGSI technically looks like a pretty good long. Tight stop @ 16.25 with a target in the $21 area looking forward. If the market begins to turn around short term over the next couple days you should be able to get 1.5 - 2 points.
 
TODAYS EXECUTIONS:

10:45:16 WCOM SLD 2500 4.39
10:36:50 WCOM SLD 2500 4.20
09:13:32 WCOM BOT 5000 3.91

* LONG 10 .PQODY @ 1.60 - EXPIRED WORTHLESS - ($1,600)

OPEN POSITIONS:

LONG .SJXQL 10 17.00 +4.00
SHORT DOX 2000 23.98 +0.88
SHORT TLAB 3000 9.68 +0.75
LONG PALM 5000 4.01 -0.50
LONG CKP 2000 18.50 -1.63

CLOSED P&L: $325.00 OPEN P&L: $2,230
TOTAL CLOSED P&L: $46,514
 
Yesterday's decline broght the QQQs back to Feb-Apr double bottom. Not sure if it would hold since investor sentiment is neutral. Look at MDY (90 daily candle chart), it shows a strong uptrend from the Feb lows and has currently pulled back which may signal a good buying opportunity.

MRK - Short
Stop: $57.40
Target: $43.00 (long term)
Rallied to resistence and has begun retracement.
 
Warnings Derail Stocks

Earnings reports were mixed, but a plethora of revenue and/or profit warnings pressured stocks. Verizon (VZ), Earthlink (ELNK), EDS (EDS), and Corning (GLW) all warned, while Treasuries were little changed.

The Dow Jones Industrial Average fell 47 points (0.5%) to 10,089, the S&P 500 index shed 7 points (0.6%) to 1101, and the Nasdaq Composite was down 28 points (1.6%) to 1730. Semiconductor and software stocks paced the losers while oil service and telecommunications shares stood out among the gainers. Volume on the Big Board was 1.3 billion shares as 1.9 billion shares changed hands on the Nasdaq.


TODAYS EXECUTIONS:

12:09:49 .SJXQL SLD 2 25.00
11:40:34 MRK SHRT 2000 56.38


OPEN POSITIONS:

LONG .SJXQL 8 17.00 +10.60
SHORT DOX 2000 23.98 +1.50
SHORT MRK 2000 56.38 +0.93
SHORT TLAB 3000 9.68 +0.92
LONG PALM 5000 4.01 -0.70
LONG CKP 2000 18.50 -1.50

CLOSED P&L: $1,600 OPEN P&L: $11,180
TOTAL CLOSED P&L: $48,114
 
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