Watchlist – 7/12/2010 – Looking like another non trade day. $$

Sheesh, after taking Thursday afternoon and Friday off, I was hoping for a decent list this morning… And was very disappointed. This might be the most worthless list of shorts I’ve ever built. Most days like this I would just not even bother to post, but I’m up at 4:45AM and into the routine, and just spent a half hour digging so I might as well post the worthless charts I found. What setups I did find that were not absolutely horrendous I was unable to locate borrows. So all I can do is hope for some crazy ridiculous market jump to setup some fades this afternoon and some setups going into tomorrow.

Full list from Yahoo Finance

CPRX

Its almost embarrassing to admit, but this might be the best looking chart on the list for today. Bummer is, just not really enough potential downside to get excited about.. SHORT

DCTH

Nasty, nasty looking biopharma. Not sure what the reason for the pop is though. Plenty of shares to borrow so I will watch closely. I’m afraid it will drop fast at the open, ideally it will run some more then fade in the afternoon. If it follows that pattern I may trade it. SHORT

DEAR

A lot of these regional banks have been popping lately. I don’t think I have EVER traded any of them and will probably not break that streak. But this was a huge runner and great short last time so I feel obligated to at least keep an eye on it. SHORT

NEXMD

As mentioned last week, I probably would have shorted this had I been able to find shares. Somewhat glad I didn’t find any at this point since it really did nothing and I probably would have been stuck watching it while I had a couple days off. Would have been very annoying checking in on it while trying to ignore the markets. So somewhat a blessing in disguise. Shares are out there now, but I’m conflicted since it has held support at $3. Hmm, tough call at this point whether to trade it or just ignore it. If it cracks $3 it could fall fast and hard though. SHORT

VVUS

Another losing trade prevented by taking time off! I tweeted this as I walked out the door and was feeling pretty cocky about a great short call! I think it was around $11.60 at the time and it squeezed all the way up over $12. Although it did fade late day nothing great. I’ll still watch but its stubborn, I think I’m just determined to trade it because of the fat loss pill tie in. Not sure thats a great thesis. SHORT

Watchlist 7/8/2010 – Back with another crappy watchlist.

Bummed to a certain extent that I havent posted any watchlists, but for once it has nothing to do with available time. Its simply due to the fact that I have seen NOTHING really solid to trade. There have been setups sure, but nothing great and nothing worth detailing in a premarket watchlist. Considering my #1 trading rule is to not trade out of boredom when the setups are not there, I have stuck to my discipline. I did make a trade the other day on ARNA, but really probably lucky on that one, I just could not resist shorting a company with a magical fat loss pill. So since this is supposed to be a blog with some Finance/trading info, here is a watchlist, but don’t bother trading any of these stocks…

Full list from Yahoo Finance

ARNA, VVUS, OREX

Three fat loss pill peddlers. I’m sure they are all shit, but I’m primarily watching VVUS after trading ARNA the other day. It appears that ARNA made some sort of deal to license their anti fatass magical potion to somebody so VVUS and OREX are up as well. OREX is lame and totally boring, I’m justing watching it because it is mentioned with ARNA and VVUS all the time. My only solid watch out of the three is VVUS, I almost shorted into the big spike late day yesterday around $11. It “could” have been a good quick trade since it dropped like a stone right at the close. A bounce after hours, so again timing would have had to been perfect. Plus I had no idea what the spike was about, who knows how high it could have ran?? Also FYI, VVUS is an easy borrow at Thinkorswim and Interactive Brokers. SHORT

NEXMD

I tried shorting this multiple times but could never find shares at my brokers. I had my eye on it already but considering Tim Sykes has been trading it, I have tried particularly hard to find shares. No dice. Its still an OK watch, but pretty solid multi day support at $3. Starting to look like it could get boring or even go up slowly. SHORT

NLST

Ick, look at that nasty choppy chart! I think I’m only watching this becuase its one of three stocks on my screener. If it were a normal day with ten to fifteen stocks I don’t think I would even pay attention to it. Also up on some pretty lame news, “qualified for use in Dell systems”. I’d be happier if it spikes more, at this point I probably won’t trade it. SHORT

VRS

I swear I have traded this in the past, but I can’t remember when.. They do appear to be a “real” company so that is kind of a bummer, plus the spike is nothing huge. But from what I can tell its up simply because they are reconfiguring a plant in Michigan’s upper peninsula to run on biomass for energy.. Whoop de do! Short

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