Monday, June 15, 2009

3 stock ideas/calls for this week.


Short term, I think that today gave a pretty decent entry to some "select" plays.
(shall see, as I was buying in the A/H)
In addition to the short term t/a set up + daily rsi slightly under 50, I only selected stocks that are also UNDER their June max pain. (which is not that many)

Targets are conservative. (If/when reached, I will trail them from there and let it run till end that day)
Do you own dd.....

DRYS: Target 7.40
MGM: Target: 7.50 (I also like lvs here, but mgm a tiny bit more)
GMCR: Target 60.00

DRYS/MGM: The flag formations are pretty long in the tooth, with some nice divergences to them. I think they will "touch" max pain ie 7.50 at least this week.

GMCR: Yea it's overvalued here big time, but PE's are not things to trade over. Yea I "think" it's going to be one the better shorts of the year, setting up starting in July, but not now. The trend is up, and today just took it down it to the channel support line, that's all. Max pain is 85, it's 33% short, with 95% fund ownership. If i was a fund, as correct as I "will be" one day...I sure would not want to show off that I have been "short" this thing all that is one of the worst trades there could be on one's books. I actually would not be surprised (kinda almost expect) one of those pumper UPGRADES here soon, just for the "window dressing / squeeze".
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