Running With The Shark

[riverbabe]

River, in chat I just posted a short setup for DXPE at current levels with r/r of 9 to target 36% gap fill and risk a stop over the potential daily double top. Seems to have fallen out of an impulsive count, which supports the trade.

Good luck.

Spike, you're the greatest! In short at 51.60 with hard stop at 54. River

Yeah...you coulda retired on my MIDD and HANS calls too...so could I...if I had held 'em.

lol...I hear that!

Beta pay more attention to beta ...or what goes up fast will come down fast and then up again, down again, up....you get the picture.

I have never been that impressed with the Shark or his buddy. Speaking of late to the party this one was on my Stockcharts list almost a month ago and was a pretty decent trade for me. 8 points out of a very bullish cup/handle formation that in my estimation was only reinforced by the larger symetrical triangle formation eveloping the cup/handle. This one was right there in front of everyone's eyes and I'm sure I posted on it here either in anticipation of the trade or right at the trade and not a whisper from a soul. Now the Shark puts it out there in a market that it dying for a correction and suggests that you go long in front of that. This trade was an 8 point gainer and not a soul even mentioned looking at it or thinking of making the play at the time and it was right in front of everyone!

Sorry I missed that one....I think your weekly chart showed the perfect place to enter that trade...right around $36 when it broke above resistance, with volume and the rsi turning up nicely. I'll have to go back to your place and take a look see.

[spikefader]

Some interesting commentary on this thread!

Shark's comments from last night: DXPE pulled back today with the broad market but continues to hold above support at 50. The stock looks like it is consolidating and remains poised for further upside should the market cooperate. We would tighten up our stop but stay patient and give the stock some time.

River, in chat I just posted a short setup for DXPE at current levels with r/r of 9 to target 36% gap fill and risk a stop over the potential daily double top. Seems to have fallen out of an impulsive count, which supports the trade.

Good luck.

[riverbabe]

DXPE - May 25th

Some interesting commentary on this thread!

Shark's comments from last night: DXPE pulled back today with the broad market but continues to hold above support at 50. The stock looks like it is consolidating and remains poised for further upside should the market cooperate. We would tighten up our stop but stay patient and give the stock some time.

[skiracer]

Yeah...you coulda retired on my MIDD and HANS calls too...so could I...if I had held 'em.

I have never been that impressed with the Shark or his buddy. Speaking of late to the party this one was on my Stockcharts list almost a month ago and was a pretty decent trade for me. 8 points out of a very bullish cup/handle formation that in my estimation was only reinforced by the larger symetrical triangle formation eveloping the cup/handle. This one was right there in front of everyone's eyes and I'm sure I posted on it here either in anticipation of the trade or right at the trade and not a whisper from a soul. Now the Shark puts it out there in a market that it dying for a correction and suggests that you go long in front of that. This trade was an 8 point gainer and not a soul even mentioned looking at it or thinking of making the play at the time and it was right in front of everyone!

[IIC]

I'd believe it. If only for the watching Lizard, the $50 is probably well-spent. I remember when he recommended VDSI on this board a few years back. I bought it then at about 2.5, and am only kicking myself because I sold it for a 15% gain or so around $3. Doh! Coulda retired off of that call alone.

Yeah...you coulda retired on my MIDD and HANS calls too...so could I...if I had held 'em.

[jiesen]

boy was he late to the party on this one. Jim is a good trader but he's pretty inflexible at times IMO. But there are people who pay $50 a day to watch him and lizard trade....incredible!

I'd believe it. If only for the watching Lizard, the $50 is probably well-spent. I remember when he recommended VDSI on this board a few years back. I bought it then at about 2.5, and am only kicking myself because I sold it for a 15% gain or so around $3. Doh! Coulda retired off of that call alone.

[IIC]

boy was he late to the party on this one. Jim is a good trader but he's pretty inflexible at times IMO. But there are people who pay $50 a day to watch him and lizard trade....incredible!

LOL...Great Minds Run In The Same Channel...I told them that they were often "Late To The Party" years ago...That was one reason I got banned at the Swamp...Of course, putting Slutsky on Moderated Posts at my old CanslimStockPicks Forum also might have had something to do with my 7 month banishment...LOL

Although, my banishment didn't really matter because I was a member under 2 screen names...Takes a little more than simple banishment to get rid of me...LOL

Well folks, here is one we've all looked at one time or another!

The Rev Shark's pick for this week is (drum roll) MEMC Electronic Material (WFR). The stock has moved up 25% since March 5th and has been trading in a range of about 60 to 63 over the last three weeks or so. With earnings scheduled to be released this coming Thursday night he believes the stock is poised for another upleg.

He thinks the analysts estimates for the quarter are conservative, and that
the stock is likely to trade up in anticipation of a very strong earnings report on Thursday night. He is NOT suggesting that anyone hold the stock through earnings, especially if it moves strongly before hand. However he does feel the chances of a good report are quite high and that it may be worth taking a very small gamble with highly speculative funds.

His plan is to add shares around 62 if possible, or higher if there is a volume increase, and set initial stop about 60

If you don't know this stock already, sign up for Stock of the Week at www.sharkinvesting.com and read all about the Rev's new pick for free.Riverbabe

boy was he late to the party on this one. Jim is a good trader but he's pretty inflexible at times IMO. But there are people who pay $50 a day to watch him and lizard trade....incredible!

[IIC]

According to the Rev Shark, DXPE, the Stock of the Week, tried for the break out to a new high but fell back when the broader market reversed. The stock still managed to put in a very good day with a gain of $1.51 on above average volume. Technically, the stock continues to look quite good and he suggests we be patient and give the trade further time.

Came close yesterday...Got the Flash point at 53.89 on a one year CwH

[New-born baby]

According to the Rev Shark, DXPE, the Stock of the Week, tried for the break out to a new high but fell back when the broader market reversed. The stock still managed to put in a very good day with a gain of $1.51 on above average volume. Technically, the stock continues to look quite good and he suggests we be patient and give the trade further time.

Thanks for posting this thread, River. I like it very much.

You have a handsome son.

[riverbabe]

DXPE, Wed. May 23rd

According to the Rev Shark, DXPE, the Stock of the Week, tried for the break out to a new high but fell back when the broader market reversed. The stock still managed to put in a very good day with a gain of $1.51 on above average volume. Technically, the stock continues to look quite good and he suggests we be patient and give the trade further time.

[riverbabe]

DXPE is on our Cups w/ Handles list

Nice call Doug.

Last night's analysis from the Shark:
DXPE, our Stock of the Week, gapped up and kept on going on a nice increase in volume. The stock traded up as much as $4 before closing up $2.79 on the day. The stock conitnues to look very good technically and we would give it some room to prove itself further.

I put it in the POTW after it had pulled back somewhat yesterday. Hoping for the best. Wish I had some cash to buy it. River

[IIC]

The Rev Shark's Stock of the Week is DXP Enterprises, (DXPE). DXPE provides a wide variety of maintenance, repair, operating and production supplies such as pumps and hoses for the oil, gas, chemical and mining industries.

In its most recent quarter the company posted earnings of 65 cents versus 44 cents last year and saw revenues grow 34%. The stock is selling with a trailing PE of 21 but is expecting earnings growth of 38% this year and a further 26% in 2008 which makes it an attractive value.

Technically the stock has been basing for about three weeks following excellent earnings on April 25. The stock looks like it is attempting to turn up here and he expects it would gain some momentum should it make some higher highs.

He suggests taking a position around current levels and be a more aggressive buyer on a volume increase and a close over 49.

DXPE is on our Cups w/ Handles list