Reshuffle...BVX added to DJIM list

Once in a while, we look at our portfolio and decide which ones are worthy of keeping and which ones just need to be off the list.   Last couple of days gave us a peak into what we wanted to change.    There are some choices that are obvious and others are just in the wait and see camp.  Now on to some stocks..

AZZ, this is probably a very good action given the low volume and next to no dmg kind of a pullback.   We are keeping eye on any kiind of momentum to chase it higher.

SYX, it was really fun while it lasted.   There's a very good likelihood that this play may be over, along with the IBD thing.    We are definitely not playing the bounce since we are only into making "easy" money.

EDU, earning is looming and if you happened to get a few while it's around $24, it may not be a bad idea using the strength to lighten up some.

BVX,  Demi mentioned it in the chat earlier with regard to the supply news with BSX.   After observing it for a few hours, we decide that it is very obvious that people like this news and may put this one in play.   We bought some today and will likely add if it holds up.   This action does look like a signal of the beginning of a runup.   As to how far it can run up?  At this point we don't know and we don't care.   As we always say, we'll trade it accordingly.

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[Demi] (Reply) on Extended trading- Pre/AH » 

Many recall Jon's BVX from $3-4 range, teaming up with BSX for a product line might get it over ...

TRT, did anyone see where the pullback stopped today?  We noticed it was around $13.25, where that big block occurred a couple of days ago.  It could be coincidental or it could be the fact that it's when we started to put our bids in.    This is very much a real deal and volume and action suggesting this play is not over, by any means.

Hard to sustain the index move...

Of course, if the indices have another 7 or 8 days like today, we may have to rethink our strategy and perhaps include some bigger names.......  nah, that'd be just too easy lol      Ok, so if your portfolio is rocking in huge gains today, then you are probably getting to this page for the first time.    The DJIM type of stocks are definitely missing in action today and one of our favourites even had a nasty woosh today.    This is probably just the part of process as we call it.    Somtimes, there's just not much more you need to read into what's happening out there.    We are sticking to our system, sticking with what we are comfortable with and sticking to the type of stocks that have gotten us to this point.    

TRT, yes and yes!    The drop today is a little uglier than we are comfortable with and we did reduce our exposure in this one furthermore.    Right now, we have to take a wait and see attitude towards the action from it the next few days.    Thankfully, the earning season is about to begin and some of bigger semi co. can be a catalyst for TRT to pick up some steam.

MR, we are holding our fingers crossed because if you followed it since the IPO day, this one has a tendency to drop back down to $16 everytime it seemed to get some momentum.

Right now, we are keeping an eye on all of the DJIM stocks to wait for some trading development to come through.   At the same time, we are expecting to see some good earnings from small caps to come through in this seasonally a typical strong quarter.    Keep focused and rest up when not trading.

cheers,

Update on Thursday, October 12, 2006 at 09:46PM by Demi/ YourPersonalTrader

As discussed the other day  http://djmarkets.squarespace.com/journal/2006/10/10/djim-stocks.html 

todays nice up day proved some of the names including TRT, even our large cap RIMM were in nose bleed space a couple of days ago as they did not participate in this rally. Taking a look at TRT.... it might be good to bring up a trading perspective. The charts shows 4 days of resistance between 14-14.50...today was the kicker as it failed to break higher again. One way to avoid a pitfall is to give yourself a mental stop on a toppy feeling flyer, it is usually somewhere around the previous days low if its respectable..in TRT case just above 13. (notice where the selling picked up). Of course a uptick in volume smells trouble and you could see that clearly by the first 10min volume bar..its never just one bar with a high flyer. Maybe everybody was busy with the large names and so the TRT was ignored at the 9ema for support...well that ain't good enough for us and we will wait for some confirmation to use this trip to 9ema area as a reason to return in force.

Just a quick note on SYX...todays report by SL was not a huge surprise.." A neg, the 'spinach' could be the filing issues, so do your own DD as always!. "     

 http://djmarkets.squarespace.com/journal/2006/9/15/syx-1340.html

BVX note in Market chat today.

"..........Adding today was adding to a non-event. This FDA clearance is really nothing and unfortunately some ran it up to the $9 level where others would gladly take profits after nearly a 25% run in a day. Its a DJIM stock now and we will trade accordingly, including taking some profits after waking to 9 level. A tad extended this premarket!. We thought it would break out yesterday on the news, we didnt think it wanted to test the recent highs so early or needed to."

DJIM holds/ hit list week #9

As the NFL takes on week #6, DJIM is on #9 running nose to nose with Da' Bears on record and the PF/PA spread, we are about collecting points except we are da' Bulls....After 8 weeks of solid gains including catching 9 moves of 25% and up since late August, we are quietly sitting with skeleton shares or none at all with most on our list waiting for a new earnings play(s) to come forward... or a bust out move like we recently had in AZZ, DGIT even if it is short lived from the ones on our list. These include some long followed DJIM's...CPY since $ 43,CETV from $60, MR an IPO.  So far the big names earnings releases are outperforming the 1 Alcoa, so things ahead look promising but that could change with one report as previously discussed. In the meantime, we will try catch a move here and there like BVX last week. Nothing new is worth taking on this weekend with the expectation of giving us a move DJIM style.

ACOR as per Market chat comments is one we still look to trade once some PR flow kicks in again.

EDU which is on its second DJIM run from $22 has earnings this week. Again, we don't hold into earnings but we will jump again if it is to our liking.                                          

RIMM, CETV, CPY all 10%+ DJIM's are all near tops which we want broken to add. We hold skeleton shares of these between us and will add if the tops look to be taken out. Exits are pretty clear on the charts for most of the DJIM's.  EML might be starting its crawl.

TRT has provided plenty of opportunity for those following since DJIM alert at $8+, we'll wait out the games and look for confirmation to go back hard. A start would be a close above the 9ema.

In between we look for DIVX, RVBD and now APKT to provide almost daily opportunities in the tech IPO fever. Some other names previously on the DJ Journal ANST,SIM,CSH, NEU also had a good week. Hopefully, after 8 weeks these names have made it to your lists. The point of our lists from week to week is so you may assemble a list of your own to concentrate on from what we trade and follow..... saving you lots of grunt work but still doing your own DD on the listed before making a trading decision.

Charts updated at BT charts....ACOR, AZZ, BVX, DGIT, EDU, EML, RIMM, TRT and the NDX

Targeting the easy..

It's definitely easier said than done.   What we are trying to do here at DJIM is to constantly find plays that we identify as being the easy plays.   Those are the kind of plays which according to our past experience, have the best probability to go up.    Of course, it doesn't necessarily mean that our plays aren't risky.    Take ACOR for example, we noticed the morning upgrade and decided that it has a good chance of going higher if its opening isn't too outrageous.   We got that and it was a good play.    Had we held on till the close, this is back to square one and you can literally write off that upgrade effect because it was in the bag.     The point is, use the opportunity to your advantage and trade according to the trading rules, as oppose to any other sentimental rules.  **CLICK ON HIGHLIGHTED GREEN to enter Chat

[Demi] (Reply) on Extended trading- Pre/AH » Small caps quickies Travelzoo beats by $0.04 (TZOO) 32.40 :Reports Q3 (Sep) earnings of $0.28 p ...

We still feel this market needs to rest/pull back.   We feel that the sooner it's done pulling back, the better shapen we'd be in for November.   Unfortunately, regardless what anyone thinks the kind of shape our mkt is in at this moment, trading opportunities keep on popping up daily, earnings related or not.     Here's some of the playing/watching today....

RIMM,  this one was noted awhile ago on its earning day and so far it's gotten close to 20%.    This is an exception to what we normally trade but this stock always occupy that special feeling to those who were once trading it on the Toronto stock exchange back in the days.    The break out looks good today.

MR, at last!   We just have one question about this one, "what took it so long?"   In any case, even though the stock is enjoying some nice gains, we still need to trade according to the action and letting some go when action stalls.

BTJ, de ja vu?   The earning reaction looks powerful today and we really don't need to refresh readers what this thing is capable of.

Past BTJ posts    http://djmarkets.squarespace.com/dj-journal-archive/ 

BVX, pennant b/o, thick zone or whatever you want to call it.   The fact is that it closed at the high and higher than the recent high, it's an automatic buy for us again even if this not one of our favorites right now. We have said numerous times what we were looking for since the recent run up, today we got that with volume and a good close.

TRT, we bought a little of this one.  We have a feeling that this one may have seen the low.   This doesn't necessarily mean that it's going right back to old high.   It definitely needs some more work and if the inside selling stops , we may just have a chance. 

EDU, possibly the Motley effect is eroding... we bot little to keep an eye on further development. APH as well off the 9ema. AZZ looking pretty good on the chart.

Off our market chat, a few nice stocks put up by fellow traders..

SILC, this stock is also worth keeping an eye on.   Earning may not be awesome but action suggests it can go higher. MTOX, this is one of those stocks that we aren't initially sure that it can attract momentum or not.  Today it proved that it can and we are in some . ILMN, this is a possible b/o that may get some follow through the next few days.

Yesterday we talked about a power move to/at 114 for RIMM. 

That's a pogo stick you want to jump on when you see the volume kick in.

Charts updated for wednesday at BT Charts

ACOR-APH-AZZ-BVX-CETV-CPY-DIVX-LCC-RIMM-TRT and BTJ