Little Lackluster...
Tuesday, May 22, 2007 at 08:49PM Market action today was a little lackluster at best. We had a good open and some strong intraday movement but somehow the pace at the end isn't the kind that we'd all be cheering for. However, there's really no need to point finger at any one catalyst and we may simply have to accept the day's action as one of those lazy days in May. Long weekend is coming up and perhaps this is giving traders an excuse for a much needed break. Overall, stocks aren't reacting to the intraday volatility too badly and we'll just have to stay focused for what's going on in the market. We haven't been doing too much today. We are making notes of some of the individual action and will act accordingly when a big move comes. The key in this kind of market, is to be totally prepared for sudden action. When we say being prepared, we meant that being prepared to add or cut positions aggressively on a moment's notice. Being reflexive is one thing, being decisive on making the right move is another.
MFLO, we bot a little bit of this one today as we think this one is in play. Volume has been great past couple of days and obviously there's something about this one that ppl really like. We aren't chasing this one in an aggressive way as we think there will be sporadic dips which we can utilitze to put our bids in. At this point, we'd also like the 9 ema to catch-up a little to ease off the extended action just a little. Just like many stocks this gave back the .60c after the alert. Recent EPS report Q3 EPS of $0.27 from continuing operations vs $0.17 single analyst estimate; reports revs of $18.0 mln vs $18.0 mln single estimate. Co issues Y07 guidance, sees non-GAAP EPS of $0.87-0.90, from previous guidance of $0.68-0.75
TBSI, this is one of the stronger stocks out there and perhaps it's being helped by TNP's earning today. Whatever the case, we definitely like its action today and added a little.
MR, many of the Asian stocks have enjoyed a good day and this one is no exception. We like this one's action more especially after its most recent earning announcement (noted EPS in Forum). It's particularly interesting here as it's knocking on the level of its all time high. We didn't add much today but if the volume comes in next few days with a corresponding up move, we'd be more aggressive on this one.
