Running With The Shark

[riverbabe]

Tuesday update - now IWM short

According to the Shark, "as noted in our special email alert this morning we advised closing the IWM long position and going short around the open. Our timing proved to be excellent as the market sold off steadily all day and closed very poorly. We will maintain the IWM short at this point and will put a tight trailing stop on it around 77.50 or so. We’ll move that down to 77 if we have a poor open. The key know is to make sure we don’t let a nice gain here slide away."

[riverbabe]

iShares Russell 2000 Index - Stock of the Week

Sorry, was out of town yesterday without computer access, so am late posting Rev Shark's Stock of the Week, IWM, but looks like it had a nice bounce yesterday.

According to the Shark last night,

"The IWM bounce kicked in nicely and finished up $1.33 after a tentative start. The slow start this morning made a good entry pretty easy which was helpful. The key now is to keep a tight trailing stop so the gain doesn’t slip away. In addition I would look to take some profits into strength in the morning. If the IWM gets over 79 and approaches 80 I would close the long position and start considering a short side entry."

Tough week last. What will happen this week? Futures up first thing this morning. Good luck to all. Riverbabe

[New-born baby]

Marty Chenard is no dummy

River,
Can't find the post, but somewhere you wrote that [loose quote] "Marty Chenard is no dummy, ask NBB." I'll say he ain't. He called this one.

[riverbabe]

Sa

River SA always seems to be at a peak ........and then goes to new highs ......cant figure this one out ?

Pete, I don't really follow the metals, but do own AAUK. SA broke out of a beautiful cup w/ handle in textbook fashion to my eye. I suggest you ask Spike for a fuzzy Elliott wave count on it, so you have an idea what it will do next. Trouble with gold stocks is that they are sensitive to the currency markets as well as metals markets and don't always act predictably. Sorry I can't be more help here.

[riverbabe]

Silver on Monday night

According to the Shark, SSRI, traded down 23 cents as gold and silver stocks were weak, but the technical pattern continues to develop nicely. He believes a little further basing action would help build a nice platform for a move higher. He has established a position.

[Peter Hansen]

SA .......River any opinion?

River SA always seems to be at a peak ........and then goes to new highs ......cant figure this one out ?

[riverbabe]

Silver Standard Resources (SSRI) - July 23, 2007

The Rev Shark is liking the color of SILVER. This is from his free Stock of the Week at www.sharkinvesting.com:

"Gold and silver mining stocks are very sensitive to changes in currency exchange rates. There is a particularly strong correlation between strength in the Yen against the dollar and strength in precious metals stocks.

The Yen has been struggling for a while but last week it turned up out of a long term downtrend which helped to push up precious metals stocks. This may have some negative fallout for the Yen carry trade and exporters but it should help support gold and silver prices.

Many precious metals stocks made big moves last week and do not offer good entry points at this time. However Silver Standard Resources (SSRI) is still within a base and is just starting to poke its head above a key resistance line. Continued strength in silver should give the stock the juice to test the $40 level it saw back in April.

We would look to inch our way into the stock as long as it stays above the resistance level and would buy more aggressively should precious metals continue their recent momentum. Tight stops are the way to go here."

[riverbabe]

According to Rev Shark, ASTI pulled back with the broader market but bounced off support at 9. Volume was lighter which he likes to see on a weak day and the stock is still setup fairly well for an upside move should the market become more cooperative. He is still holding a partial position and will get the trade further time to work.

[riverbabe]

ASTI - Tues evening

IMHO, this market is a pretty crazy place to be right now. And,

ASTI, the Rev Shark's stock of the week, pulled back 68 cents on higher than average volume as the solar energy group as a whole sold off. Although the stock is still holding above support at 9 and more important support at the 50 day moving average around 8.25, the Rev says it is important to keep a tight stop on it at this point and quick sell should weakness continue.

BTW, having tried out the free 2-weeks, I have decided not to continue. This is just a personal decision, not a recommendation to others one way or another. Riverbabe

[riverbabe]

23AndMe

River,
Was just looking at your old post on GOOG and would value your opinion on "23 and me". Does it have any more future prospects than say Billyjoe's Biotech Bonanza? Would you risk riverbabe bucks in it? Thanks

------------billyjoe

billyjoe, this is still a privately held startup. There are two main thrusts based on sequencing an individual's entire genomic DNA and mitochondrial DNA (that you inherit from your mother) and Y chromosome DNA (that men inherit from their fathers): 1) to enable pharmaceutical companies to tailor drugs to react in your particular body (based on your DNA) instead of the hit and miss "one for all the masses of people" drugs available now, i.e., "the acceleration of personalized medicine, using genetic profiles to target the right drug to the right person at the correct dose," and 2) "bringing you personal insight into ancestry, genealogy, and inherited traits. By connecting you to others, we can also help put your genome into the larger context of human commonality and diversity." (I can give you the cites for the quotations if you want them).

Now, the pharma companies research with drug tailoring is in its infancy but is a definite on the radar scope. This will be the most important reason for sequencing the DNA.

The ancestry, genealogy sequencing opportunities (Y and mitochondrial markers) are already provided by other sites, such as Family Tree DNA et al.. (My mitochondrial DNA has already been sequenced and I know the important markers in my mitochondrial DNA that enable me to trace my ancestry and the migration of people with my markers back to the ice age in Europe, through research already done by genetic historians!).

So, will this be billyjoe's Biotech Bonanza? Probably some day soon, involving Big Pharma. IMHO, that's where Riverbabe's bucks would go -- not to the company that does the sequencing for $1,000, if indeed that is all that they are doing. But I don't exactly know what they are doing. It might be more than that.

So, the above is all based on speculation on my part. Hope this helps. Riverbabe

[riverbabe]

ASTI - Monday Eve.

According to the Shark, ASTI "was off to a good start on a difficult day. The stock was up over a dollar at one point during the day and managed to close up 42 cents on good volume. The increased volume and the close over $10 leave things in good technical shape." He owns some shares and will let them ride at this point.

[billyjoe]

River,
Was just looking at your old post on GOOG and would value your opinion on "23 and me". Does it have any more future prospects than say Billyjoe's Biotech Bonanza? Would you risk riverbabe bucks in it? Thanks

------------billyjoe

[riverbabe]

Rev Shark's Stock of the Week ASTI

The Rev Shark's Stock of the week for July 16th is Ascent Solar Technologies, ASTI. Interestingly, ASTI is a development stage solar energy firm with no revenues or earnings but is anticipated to introduce a significant new product and facility in September.

One of the primary problems in the solar energy field is that a shortage of silicon that is used to make photoelectric cells has kept priced high. ASTI has a new process for producing photoelectric cells which has a significant cost advantage. Details can be found on their web site at www.ascentsolar.com

According to the Rev, "the stocks in the solar energy group have been particularly strong recent as energy prices continue to climb. Barron’s featured the ‘green energy’ group on its cover this weekend and discussed how the industry is likely to evolve and gain traction as technology improves and energy prices stay high. (However, please see my next post with an article from today's NYTimes about solar energy interest, in general).

This interest in the group and the strength of the sector coupled with a very good technical setup is why we are making ASTI our Stock of the Week."



According to the Shark, from the chart above, you can see that the stock has perked up recently on increased volume. "It has support at the 50 day simple moving average and could easily challenge the April high over 11 if the interest in solar energy stays strong this week."

He would be inclined to be a buyer on a close over 10 with increased volume and would anticipate a breakout over 11 if the market is cooperative and volume stays high. he would also consider buying shares on a low volume pullback to the 8.50 area.

Further, he says that he actively trades this stock and is presently are holding a position in our hedge fund. "We would likely sell into a lower volume strength depending on market conditions. However we plan to hold a core position with a longer term time frame." Please read more at www.sharkinvesting.com.

[IIC]

Nice to see that THE SHARK agrees w/ me on market conditions...LOL...Does he really think his subscriber agreement can hold water anywhere???

In the event user reproduces, distributes or transmits any such information without the express written permission from Shark, said User consents to the entry of judgment in favor of Shark and against said User in the sum of $10,000.00, plus attorney fees.

Let's see if he can collect from my source???...LOL

[IIC]

Agreed. To be fair, though, I'm going to track some of his recommendations for setups next week. I'm also going thru Ernie's latest data dump and your IIC100 & Cup w/Handles to see if there is any overlap. There appears to be somebody named "Marko" who is doing all the recommendations. There is little direct contact with Rev as far as I can see.

It's a 2-week free sub so there is a little time to evaluate. So far, I'm underimpressed with the caliber of people posting on his chat. Right now, they're mostly interested in planning a Shark Fest face-to-face for themselves in Orlando. From the level of teaching given by Marko, I get the feeling they're still in the need-hand-holding stages.

So far, what I see is there is so much more here at MrM and also at Spike's that is dynamic and professional (and free).

P.S. That other sub site I told you about is really paying off for me! Enough so that I am buying a quarter sub (at 1/2 price special) to see how it works out in the longer run. Hate to repeat myself, but it is really impressive! Different than what you offer however.

Screen names can overlap...In this case...I don't know...But Mark(o) does rhyme with Shark(o)...LOL

That other site...I know what you are talking about...Heck, if it works then it is worth the EXHORBIANT fee...What can I say???